Dublin, July 21, 2023 (GLOBE NEWSWIRE) -- The "Next-generation Sequencing Services Market Size, Share & Trends Analysis Report By Service Type (Human Genome Sequencing, Gene Regulation Services), By Workflow, By End-use, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global next-generation sequencing services market is poised to achieve remarkable growth, with an estimated market value of USD 24.5 billion by 2030, expanding at an impressive CAGR of 22.56% from 2023 to 2030. The market's surge is attributed to the significant developments in next-generation sequencing (NGS) technologies, revolutionizing gene sequencing in terms of reproducibility and cost savings. As a result, the introduction of several advancements in NGS technology has promoted its usage in clinical labs and hospitals, propelling the uptake of NGS services across various end-users.
Over the last five years, next-generation sequencing has rapidly progressed from research to clinical applications. Around 14 nations have launched large-scale genome sequencing programs, with nearly 60 million people expected to have their genomes analyzed by 2025. Moreover, conventional disease testing service providers have expanded their portfolios to include seq-based genetic tests, capitalizing on the growing trend. For instance, in March 2022, ARUP Laboratories announced the release of new coronavirus tests, while IDbyDNA, Inc. partnered with another firm to introduce an NGS test for respiratory illnesses, aiding physicians in evaluating patients with pneumonia and respiratory problems.
The pharmaceutical and biotech industry has witnessed a rising trend of high throughput sequencing, prompting the need for more developments to enhance the speed and convenience of high throughput seq-platforms and simplify workflows.
Consequently, companies are focusing on the development of solutions to streamline the amplification and purification of samples and starting input. Notably, in March 2022, Illumina, Inc. launched TruSigh Oncology (TSO) Comprehensive (EU), a comprehensive diagnostic that evaluates several tumor genes and indicators to identify a patient's cancer's individual molecular profile, which would significantly impact genomic decisions for cancer patients across Europe.
The report also highlights some key dynamics within the market. Human genome sequencing accounted for the largest revenue share in 2022, mainly driven by the greater penetration of whole genome and whole exome sequencing. Gene regulation services, particularly small RNA sequencing and ChIP-seq, are expected to experience lucrative growth during the forecast period, fueled by rising investments in RNA sequencing.
The installation of sequencing platforms has resulted in larger revenue shares of sequencing services as compared to other workflow steps, primarily due to higher maintenance and recovery costs. By end-use, universities and other research entities held the largest revenue share in 2022, attributed to the growing application of NGS technology in cancer prognosis, diagnosis, and major academic projects.
North America dominated the market in 2022, driven by higher technology penetration and the availability of funds to support research initiatives targeting various diseases. Prominent companies such as GENEWIZ and Novogene Corporation are actively engaged in offering NGS services based on platforms from major NGS developers. Meanwhile, companies like Illumina and BGI are focusing on developing sequencing instruments and offering services to research entities.
The market's outlook remains optimistic, with several key players actively contributing to advancements in next-generation sequencing technology, enabling innovative applications in clinical settings. As the NGS landscape continues to evolve, market participants are expected to introduce novel products and services to meet the growing demand for accurate and cost-effective genomic analysis.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $4830.3 Million |
| Forecasted Market Value (USD) by 2030 | $24500 Million |
| Compound Annual Growth Rate | 22.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Segment Snapshot
2.4 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends, & Scope
3.1 Market Trends & Outlook
3.2 Market Dynamics
3.2.1 Market Driver Analysis
3.2.1.1 Decline In Sequencing Prices
3.2.1.2 Growing Awareness Pertaining To Women & Reproductive Health
3.2.1.3 Strategies Undertaken For Implementation Of Clinical NGs
3.2.2 Market Restraint Analysis
3.2.2.1 Challenges Pertaining To Implementation Of Large-Scale NGs Analysis Workflows
3.2.2.2 Analytical Challenges In Single Cell Sequencing
3.3 Penetration And Growth Prospect Mapping For Service Type, 2022 (Usd Million)
3.4 Impact Of Covid-19 Pandemic On Ngs Services Market
3.5 Business Environment Analysis
Chapter 4 Service Type Business Analysis
4.1 Next-Generation Sequencing Services Market: Service Type Movement Analysis
4.2 Human Genome Sequencing Services
4.3 Single-Cell Sequencing Services
4.4 Microbial Genome-Based Sequencing Services
4.5 Gene Regulation Services
4.6 Animal & Plant Sequencing Services
4.7 Other Sequencing Services
Chapter 5 Workflow Business Analysis
5.1 Next Generation Sequencing Services Market: Workflow Movement Analysis
5.2 Pre Sequencing Services
5.3 Sequencing Services
5.4 Data Analysis Service
Chapter 6 End-Use Business Analysis
6.1 Next Generation Sequencing Services Market: End-Use Movement Analysis
6.2 Universities & Other Research Entities
6.3 Hospitals & Clinics
6.4 Pharma & Biotech Entities
6.5 Others
Chapter 7 Next-Generation Sequencing Services Market: Regional Estimates And Trend Analysis, By Service Type, Workflow, & End-Use
7.1 North America
7.2 Europe
7.3 Asia Pacific
7.4 Latin America
7.5 Mea
Chapter 8 Competitive Landscape
8.1 Company Categorization
8.2 Company Market Share Analysis, 2022
8.3 Strategy Mapping
8.4 Company Profiles/Listing
Companies Mentioned
- Quest Diagnostics Incorporated
- ARUP Laboratories
- Applied Biological Materials, Inc. (ABM)
- Novogene Co, Ltd.
- Azenta Life Sciences (GENEWIZ)
- NanoString
- Illumina, Inc.
- PacBio
- Veritas
- BGI (Beijing Genomics Institute)
- Gene by Gene Ltd.
- Lucigen Corporation
For more information about this report visit https://www.researchandmarkets.com/r/focf3p
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