Global Next-Generation Sequencing Services Market Size, Share, Growth Analysis, By Service type, By Workflow, By Technology(Sequencing By Synthesis, Ion Semiconductor Sequencing ), By Application, By End User - Industry Forecast 2022-2028

Global Next-Generation Sequencing Services Market size was valued at USD 4.16 billion in 2021 and is poised to grow from USD 7.31 billion in 2022 to USD 24.5 billion by 2030, growing at a CAGR of 22.56% in the forecast period (2023-2030).

Massively parallel sequencing (MPS), sometimes known as "next-generation sequencing" (NGS), is a term used to describe a DNA sequencing technique that has had a significant positive impact on the fields of biotechnology, medical diagnosis, forensic biology, biological systematics, and virology. The development of NGS has had an impact on clinical research, basic research, and applied science. A entire human genome can be sequenced using next-generation sequencing technology far faster than using the more traditional Sanger method. It is possible to swiftly, scalable, and with a very high throughput establish the order of nucleotides throughout the genome. Since it involves preparing the material for the future sequencing process, DNA pre-sequencing is one of the most important steps in the complete sequencing methodology. Globally, clinical laboratory testing, analysis, and disease detection are all using NGS more and more. Next-generation sequencing (NGS) is commonly used to accelerate the drug discovery process in pharmacogenomic research.

Next-generation sequencing has significantly impacted the transition from the conventional medical model of diagnosis to a precision medicine model by making it possible to identify biomarkers for early diagnosis and tailored treatments. Despite being a relatively young technology, next-generation sequencing has already had a significant impact on the fields of molecular biology, genetics, personalised medicine, hereditary diseases, and clinical diagnostics.

Top-down and bottom-up approaches were used to estimate and validate the size of global Next-Generation Sequencing Services Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report

Global Next-Generation Sequencing (NGS) Services Market is segmented based on the service type, workflow, technology, application, end user, and region. Based on service type, the Next-Generation Sequencing Services Market is segmented into Human Genome Sequencing, Single Cell Sequencing, Microbial Genome-based Sequencing, Gene Regulation Services, Animal & Plant Sequencing and other Sequencing Services. Based on workflow, Next-Generation Sequencing Services Market is segmented into Pre-sequencing, Sequencing and Data Analysis. Based on technology, the Next-Generation Sequencing Services Market is segmented into Sequencing By Synthesis (SBS), Ion Semiconductor Sequencing (IOS), Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing and others. On the basis of application, the Next-Generation Sequencing Services Market is sub segmented Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research and other Applications. According to end users Next-Generation Sequencing Services Market is divided into Universities & Other Research Entities, Hospitals & Clinics, Pharma & Biotech Entities and others. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

Clinical diagnostics advancements are fueling market demand. One can employ next-generation sequencing for forensics, reproductive health, customised medicine, biomarkers, and diagnostics, to name a few. The use of next-generation sequencing (NGS) in clinical laboratories for the diagnosis of genetic disorders has become the industry standard because of its analytical precision, high throughput, and cost-effectiveness. Therefore, genome sequencing-based diagnosis is a workable alternative to treating uncommon conditions.

The cost of the next-generation sequencing technology is likewise becoming significantly less expensive over time. As costs continue to decline, next-generation sequencing is becoming more widely available and less expensive, which is promoting business growth. Along with the development of next-generation sequencing, the number and variety of library preparation choices have expanded, and as capacities rise, sample preparation constraints are also being pushed.

Due to an increase in the number of skilled personnel available for sample preparation, the market for next-generation sequencing is anticipated to expand. Furthermore, advances in sequencing technologies are paving the way for brand-new therapies for patients suffering from cancer, Mendelian illnesses, and other diseases.

Restraints

The legal and ethical implications of DNA sequencing, especially NGS, must be taken into account. These challenges include identifiability, disclosing study results, stereotyping, the appropriateness of consent, stigmatisation, inclusion, and differential benefit in addition to concerns specific to a particular culture and community. In essence, these moral considerations limit market growth.

Additionally, it is anticipated that the complexity of setting up internal throughput devices and the interpretation of complex data from NGS platforms will be the key challenges limiting market expansion throughout the projected timeframe.

Market Trends

With a novel sequencing method that does not use the polymerase chain reaction (PCR) and instead employs single molecule sequencing and single real-time sequencing, PCR-related errors would be avoided and clonal amplification would not be necessary. Following the development of next-generation technology, these needs led to the development of third-generation sequencing equipment. These utilise single-molecule sequencing and can provide greater read lengths with fewer complicated pre-processing steps. Examples include the FRET Sequencing Platform, Nanopore Sequencing, and the SMRT (Single-Molecule Real-Time) DNA Sequencing Method. The platform known as single molecule real-time sequencing (SMRT) is capable of producing read lengths of roughly a thousand bases. The FRET Sequencing platform uses base fluorescence tagging technology, a DNA polymerase modified with a quantum dot, and DNA template molecules mounted on a solid surface.