Global Next Generation Sequencing Market by Technology (Targeted Sequencing & Resequencing), by Application (Oncology, Consumer Genomics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global next-generation sequencing market was valued at USD 3.99 billion in 2020. It is forecast to grow at a compound annual rate (CAGR), of 14.4% over the forecast period. Genome sequencing was used to study the spread of Covid-19. It can also be used to help guide future treatments and understand the effects of interventions. Covid-19 Genomics U.K. Consortium was established in March 2020 to analyze coronavirus genome using Whole-Genome Sequencing. This consortium includes Wellcome Sanger Institute and the NHS as well as other academic institutions. These organizations have worked together to map the spread and evolution of the virus.

This consortium also aims to unravel the transmission chain of this virus in order to stop its spread. Researchers from the University of Liverpool also performed sequencing analysis to determine the unique genetic code of the virus from samples taken from different people.

Illumina and ThermoFisher have already prepared to combat this pandemic using sequencing. Illumina already provides support and technology for surveillance and tracking transmission. It also plans to develop vaccinations as well as therapies to ensure global safety and security for the long-term.

Global markets are highly competitive. To increase research and diagnostics usage, major industry players are teaming up with each other. Illumina, Merck, Myriad Genetics and Kura Oncology announced in January 2021 multiple partnerships to increase the use and reach of TruSight Oncology's pan-cancer assay.

Application Insights

In 2020, oncology was the most lucrative field with a revenue of more than 28%. The potential for next generation sequencing (NGS), in combination with bioinformatics tools, could revolutionize oncology research and diagnosis. The "molecular age of cancer" is being marked by the advancements in NGS technology.

Illumina is one of the most prominent companies working towards developing NGS-based In Vitro Diagnostics (IVD) solutions to cancer diagnostics. Illumina and Myriad Genetics collaborated to create a kit-based version (CDx) of MyChoice's companion diagnostic (CDx). This combination of NGS technology and companion diagnostics enhances the genomic profiles for tumor samples.

NGS solutions are also offered by several other market players to help support cancer research. Merus N.V., a clinical-stage immunooncology company, partnered with National Cancer Center, Japan and Erasmus University Medical Center (the Netherlands) to test its HER2/3-targeting bispecific anti-tumor antibody in solid tumors. Merus will support NGS testing for pancreatic and non-small cell lung cancers.

Technology Insights

With a revenue share exceeding 73%, targeted sequencing and resequencing dominated NGS in 2020. This technology is an economical alternative to WGS and allows for the detailed investigation of genomic regions. Due to the growing demand for differential expression analysis, RNA-based targeted sequence is expected to experience a lucrative growth.

The Amplicon RNA Sequencing technology, which allows targeted RNA sequencing to diagnose schizophrenia and other disorders, is widely used. In the future, segment growth will be supported by the availability of expression kits for apoptosis and cardiotoxicity.

WGS technology is expected to grow at an impressive rate between 2021 and 2028. Segment growth is responsible for an increase in WGS use to combat Covid-19. Illumina is one of the first NGS methods that can be used to monitor infectious diseases. Illumina is just one example. This technology is capable of producing high quality data and fast results. It can also be used to track and respond to diseases in a particular area.

Workflow insights

In 2020, the sequencing segment was the most profitable with a revenue share greater than 54%. Sequencing is an essential step in the workflow. Sequencing is also a capital-intensive process, which results in higher revenue generation. The expected growth in WGS implementation will lead to increased data generation from sequencing projects. Analysis can be difficult due to the volume of data generated by sequencing. These issues can be solved with a variety of tools on the market.

Illumina's BaseSpace Suite, for example, allows you to quickly analyze your sequencing data and produce results quickly. To expand its data analysis offerings, the company also purchased DRAGEN Bio-IT Platform(DRAGEN) and Edico Genome. Genomatix, DNAnexus and other companies offer cloud-based platforms that allow for large amounts of sequencing data management and analysis.

End-use Insights

In 2020, the academic research segment accounted for more than 53% of the market. This segment is expected to grow at a steady CAGR of 5% between 2021 and 2028. This is due to NGS solutions being used in research projects at universities and research centres. Additionally, NGS scholarships for Ph.D. students are expected to increase demand for NGS products, which will lead to lucrative growth in the future.

Many universities in countries like the U.K. and Germany offer courses in molecular biology and NGS applications. The Wageningen University & Research in the Netherlands, for example, has NGS facilities that can be used for a variety of applications. Illumina HiSeq2500 and MiSeq are some of the platforms used by the university.

From 2021 to 2028, clinical research will be the fastest-growing segment. This is due to increasing penetration of NGS-based diagnostic test that are CLIA-waived. Clinical approval has also increased the demand for NGS solutions. This segment is expected to see high growth potential due to commercially available clinical research products from Illumina, Agilent, Thermo Fisher Scientific, as well as other companies that specialize in target enrichment and detection.

Regional Insights

With a 49.77% revenue share in 2020, North America was the dominant market. Regional market growth is driven by the presence of many clinical laboratories that use NGS for genetic testing services. The market is also boosted by the launch and development of new products by major companies in North America. Quest Diagnostics, for example, launched Automated NGS engine in August 2020 to power AncestryHealth's consumer genetics service. This platform provides genetic screening for risk factors for blood disorders, colon cancer and breast cancer as well as heart disease.

From 2021 to 2028, Asia Pacific will be the fastest growing regional market. Asia Pacific is expected to be driven by local businesses such as BGI Genomics and NGS service providers like Macrogen Asia Pacific Pte Ltd. and First BASE Laboratories Sdn Bhd. MedGenome Labs Ltd. provides NGS services for more than 5,500 physicians and 1,600 hospitals in South Asia and India.

Market Share Insights & Key Companies

High levels of competition exist in the industry. These companies have adopted a variety of strategies to increase their market presence, including the launch new platforms that are small, affordable, and quick. Cerba Research, for example, launched two new PCR-based, and NGS-based, Covid-19 exploratory tools in January 2021 to support R&D on vaccine development against infectious disease, including Covid-19. NGS-based assays facilitate WGS of respiratory viruses, and SARS-CoV-2.

Eurofins Genomics introduced cost-effective and optimized SARS-CoV-2 NGS Services in December 2020. These services offer complete sequencing of viral genomes. Roche introduced the KAPA Target Enrichment portfolio to target enrichment during sequencing in May 2020 and KAPA HyperExome whole exome research panel in May 2020. Market competition is expected to rise, along with the launch and marketing of new products. This will increase market revenue generation. The following companies are key players in the global market for next-generation sequencing:

• Illumina

• QIAGEN

• Thermo Fisher Scientific, Inc.

• F. Hoffman-La Roche Ltd.

• Oxford Nanopore Technologies

• Genomatix GmbH

• PierianDx

• DNASTAR, Inc.

• Eurofins GATC Biotech GmbH

• Perkin Elmer, Inc.

• BGI

• Bio-Rad Laboratories Inc.

Up Market Research published a new report titled “Next Generation Sequencing Market research report which is segmented by Technology (Targeted Sequencing & Resequencing), by Application (Oncology, Consumer Genomics), By Players/Companies QIAGEN; Thermo Fisher Scientific Inc; F Hoffman-La Roche Ltd; Oxford Nanopore Technologies; Genomatix GmbH; PierianDx; DNASTAR, Illumina, Inc; Eurofins GATC Biotech GmbH; Perkin Elmer, Inc; BGI; and Bio-Rad Laboratories, Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Next Generation Sequencing Market Report Segments:

The market is segmented by Technology (Targeted Sequencing & Resequencing), by Application (Oncology, Consumer Genomics).

Next Generation Sequencing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Next Generation Sequencing Market

Overview of the regional outlook of the Next Generation Sequencing Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Next Generation Sequencing Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Next Generation Sequencing Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Targeted Sequencing & Resequencing

                1. Oncology

                2. Consumer Genomics

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Next Generation Sequencing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Next Generation Sequencing Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.