Next Generation Sequencing Market Report: Trends, Forecast and Competitive Analysis to 2030

Next Generation Sequencing Trends and Forecast

The future of the global next generation sequencing market looks promising with opportunities in the academic institute & research center, hospital & clinic, and pharmaceutical & biotechnology company markets. The global next generation sequencing market is expected to reach an estimated $42.3 billion by 2030 with a CAGR of 16.3% from 2024 to 2030. The major drivers for this market are increasing government regulations and reimbursement for NGS-based diagnostic tests, on-going advancements in NGS platforms, and reduction in the costs of NGS tests.

A more than 150-page report is developed to help in your business decisions.

Next Generation Sequencing by Segment

The study includes a forecast for the global next generation sequencing by product & service, technology, application, end use industry, and region.

Next Generation Sequencing Market by Product & Service [Shipment Analysis by Value from 2018 to 2030]:

• Presequencing Products & Services
• NGS consumables
• NGS Platforms
• Services for NGS Platforms
• Sequencing Services
• Bioinformatics

Next Generation Sequencing Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• Single-molecule Real-time Sequencing
• Nanopore Sequencing
• Other Sequencing Technologies

Next Generation Sequencing Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Diagnostics
• Drug Discovery
• Agriculture & Animal Research
• Others

Next Generation Sequencing Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Academic Institutes & Research Centers
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others

Next Generation Sequencing Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Next Generation Sequencing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies next generation sequencing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the next generation sequencing companies profiled in this report include-

• Illumina
• Thermo Fisher Scientific
• BGI Group
• PerkinElmer
• Macrogen
• Hamilton Company
• Lucigen
• Oxford Nanopore Technologies
• Agilent Technologies
• QIAGEN

Next Generation Sequencing Market Insights

Lucintel forecasts that diagnostics will remain the largest segment over the forecast period due to growing number of cancer cases across the world.

Within this market, academic institutes & research centers will remain the largest segment over the forecast period becasue of the development of cost-effective NGS products and services for researchers and increasing collaborations between academic institutes & research centers and NGS players.

North America will remain the largest region over the forecast period due to rising investments in the research funding, and development of NGS data analysis solutions.

Features of the Global Next Generation Sequencing Market

Market Size Estimates: Next generation sequencing market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Next generation sequencing marketgeneration sequencing marketsize by product & service, technology, application, end use industry, and region in terms of value ($B).

Regional Analysis: Next generation sequencing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product & services, technologies, applications, end use industries, and regions for the next generation sequencing market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the next generation sequencing market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the next generation sequencing market size?

Answer: The global next generation sequencing market is expected to reach an estimated $42.3 billion by 2030.

Q.2 What is the growth forecast for next generation sequencing market?

Answer: The global next generation sequencing market is expected to grow with a CAGR of 16.3% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the next generation sequencing market?

Answer: The major drivers for this market are increasing government regulations and reimbursement for NGS-based diagnostic tests, on-going advancements in NGS platforms, and reduction in the costs of NGS tests.

Q4. What are the major segments for next generation sequencing market?

Answer: The future of the next generation sequencing market looks promising with opportunities in the academic institute & research center, hospital & clinic, and pharmaceutical & biotechnology company markets.

Q5. Who are the key next generation sequencing market companies?

Answer: Some of the key next generation sequencing companies are as follows:

• Illumina
• Thermo Fisher Scientific
• BGI Group
• PerkinElmer
• Macrogen
• Hamilton Company
• Lucigen
• Oxford Nanopore Technologies
• Agilent Technologies
• QIAGEN

Q6. Which next generation sequencing market segment will be the largest in future?

Answer: Lucintel forecasts that diagnostics will remain the largest segment over the forecast period due to growing number of cancer cases across the world.

Q7. In next generation sequencing market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to rising investments in the research funding, and development of NGS data analysis solutions.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the next generation sequencing market by product & service (presequencing products & services, NGS consumables, NGS platforms, services for NGS platforms, sequencing services, and bioinformatics), technology (sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and other sequencing technologies), application (diagnostics, drug discovery, agriculture & animal research, and others), end user (academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?