Next Generation Sequencing Services Market Size, Global Industry Growth, Key Trends and Forecast 2020-2026 | iCognition Insights
The global next generation sequencing services market was valued at USD 1,966.6 million in 2020 and is projected to reach USD 6,639.0 million by 2026, registering a CAGR of 22.5% during the forecast period. The future of next generation sequencing services market looks promising owing to the increasing applications of NGS for reliable diagnosis of chronic diseases, developments in cost-effective sequencing methodologies like targeted gene sequencing and its applications in companion diagnostics.
Next generation sequencing (NGS) technology is used for sequencing thousands to millions of DNA molecules concurrently to study and identify genetic variation associated with a disease or a biological condition. Since its introduction in 2005, the NGS technology has revolutionized the field of genetics and molecular biology with its wide range of applications in cancer genomics, biomarkers discovery, immuno-oncology, infectious diseases, prenatal testing (NIPT) and forensics. With rising cases of COVID-19 infection globally, major markets like UK and USA are encouraging research and development initiatives to effectively manage the pandemic outbreak. In UK, the NHS organizations and academic institutions like Wellcome Sanger Institute have formed a unique COVID-19 Genomics UK (COG-UK) Consortium for rapid whole-genome virus sequencing and diagnosis of patients.
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Market Segmentation in the Report:
This global report from iCognition Insights focuses on market size and forecast of the next generation sequencing services market at global, segmental, regional and country level along with key trends and growth dynamics from 2017 to 2026. The report offers detail market segmentation by sequencing type (whole exome, whole genome, targeted sequencing & resequencing, application (clinical investigation, oncology, reproductive health, immune system monitoring, agri-genomics & forensics, metagenomics, epidemiology & drug development, consumer genomics), process flow type (pre-sequencing, sequencing, data analysis) end-use (clinical research, academic research, hospitals & clinics, biotechnology & pharmaceuticals, others) and region (North America, Europe, Asia Pacific, LATAM, ME&A).
Key Market Trends:
- Agilent to Acquire Resolution Bioscience – March 2021
- Illumina announces £20 million funding to nine new genomic companies – February 2021
- Roche acquires Stratos Genomics and expands its Nanopore Sequencing Technology – May-2020
Next Generation Sequencing (NGS) Services Market: Key Highlights
- In 2020, the targeted sequencing & resequencing segment accounted for a substantial revenue share
- Oncology segment dominated the market share due to rising cancer cases globally and advent of the liquid biopsy technology
- North America leads the market revenue in 2020, with Asia-Pacific to register the fastest CAGR for the forecast period
Leading Industry Players in Next Generation Sequencing (NGS) Services Market:
- Thermo Fisher Scientific Inc.
- Illumina, Inc.
- F Hoffman-La Roche Ltd.
- Oxford Nanopore Technologies
- Genomatix GmbH
- PierianDx, Inc.
- Bio-Rad Laboratories, Inc.
- PerkinElmer, Inc.
The Report provides Key Insights on:
- Market Dynamics
- Industry Outlook
- Covid-19 Impact and Deviation Analysis
- Next Generation Sequencing (NGS) Services Market Size and Forecast, by Sequencing Type, (2017-2026)
- Next Generation Sequencing (NGS) Services Market Size and Forecast, by Application, (2017-2026)
- Next Generation Sequencing (NGS) Services Market Size and Forecast, by Process Flow Type (2017-2026)
- Next Generation Sequencing (NGS) Services Market Size and Forecast, by End-Use (2017-2026)
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