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Global NGS Market Size is expected to reach at a CAGR of 6.7% and, this report covers Market growth, trend, opportunity and forecast 2024 - 2031

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The "NGS Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The NGS market is expected to grow annually by 6.7% (CAGR 2024 - 2031).

This entire report is of 195 pages.

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NGS Introduction and its Market Analysis

Next-generation sequencing (NGS) is a powerful technology that has revolutionized genomics research and diagnostics. The global NGS market is expected to experience significant growth due to factors such as increasing adoption of personalized medicine, growing demand for agricultural and animal research, and advancements in bioinformatics tools. Key players in the market include Illumina, Thermo Fisher Scientific, and Pacific Biosciences of California. These companies are investing in research and development to introduce innovative sequencing platforms and expand their market presence. The main findings of the NGS market research report highlight the increasing application of NGS in various sectors and the potential for market expansion. Recommendations include strategic partnerships and acquisitions to enhance product offerings and customer reach.

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Next-generation sequencing (NGS) market continues to grow rapidly with a variety of platforms available such as NovaSeq, NextSeq, Sequel, and Nanopore. These platforms cater to a wide range of applications including Academic Institutes & Research Centers, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and more. The market is segmented based on the type of platform and the application it serves.

Regulatory and legal factors play a crucial role in shaping the market conditions for NGS. Companies operating in this space must adhere to stringent regulations to ensure data accuracy, patient privacy, and data security. Additionally, the regulatory landscape is constantly evolving, requiring companies to stay up-to-date with the latest guidelines and compliance requirements.

Overall, the NGS market offers tremendous opportunities for growth and innovation, with the potential to revolutionize the way we approach healthcare and research. As the technology continues to advance, companies must navigate the regulatory landscape effectively to capitalize on the market potential and drive meaningful impact in the industry.

Top Featured Companies Dominating the Global NGS Market

The Next Generation Sequencing (NGS) market is highly competitive, with several key players dominating the industry. Companies such as Illumina, Thermo Fisher Scientific, Pacific Biosciences of California, BGI, PerkinElmer, Agilent Technologies, QIAGEN, Macrogen, Oxford Nanopore Technologies, Ltd., and Eurofins Scientific are leading the market with a wide range of products and services.

Illumina, based in the US, is one of the largest players in the NGS market, offering a variety of sequencing platforms and services for research and clinical applications. Thermo Fisher Scientific, also from the US, is another major player in the market, providing a range of NGS solutions for various applications.

Pacific Biosciences of California is known for its innovative technology that enables long-read sequencing, while BGI from China is a leading provider of genomic services and solutions globally. PerkinElmer and Agilent Technologies offer NGS platforms and solutions for research and clinical applications.

QIAGEN, a German company, provides a range of NGS products and services for research and diagnostics. Macrogen from South Korea is a leading provider of NGS services globally. Oxford Nanopore Technologies, Ltd. offers nanopore sequencing technology that allows for real-time sequencing of DNA and RNA.

Eurofins Scientific, based in Luxembourg, provides NGS services for genetic testing and research applications. These companies contribute to the growth of the NGS market by continuously innovating and developing new products and services to meet the increasing demand for genomics research and clinical applications.

In terms of sales revenue, Illumina reported revenue of $ billion in 2020, while Thermo Fisher Scientific had sales of $25.5 billion in the same year. QIAGEN reported sales revenue of $1.6 billion in 2020. These figures highlight the significant market presence and financial performance of these companies in the NGS industry.

  • Illumina (US)
  • Thermo Fisher Scientific (US)
  • Pacific Biosciences of California (US)
  • BGI (China)
  • PerkinElmer (US)
  • Agilent Technologies (US)
  • QIAGEN(Germany)
  • Macrogen(South Korea)
  • Oxford Nanopore Technologies, Ltd. (UK)
  • Eurofins Scientific (Luxembourg)

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NGS Market Analysis, by Type:

  • NovaSeq
  • NextSeq
  • Sequel
  • Nanopore

NGS platforms such as NovaSeq, NextSeq, Sequel, and Nanopore offer unique capabilities and varying throughput capacities, appealing to different research needs. NovaSeq and NextSeq are known for their high throughput sequencing capabilities, while Sequel offers long-read sequencing for applications requiring more comprehensive genomic coverage. Nanopore technology allows for real-time sequencing, enabling rapid data analysis. These platforms contribute to the expansion of applications in research, diagnostics, and personalized medicine, thereby driving demand in the NGS market for their versatility and reliability in delivering high-quality genomic data efficiently.

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NGS Market Analysis, by Application:

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

NGS is applied in academic institutes & research centers for transcriptome analysis, genotyping, and variant discovery. In hospitals & clinics, it is used for cancer genomics, infectious disease diagnosis, and personalized medicine. Pharmaceutical & biotechnology companies utilize NGS for drug target discovery, biomarker identification, and clinical trials. Other applications include agriculture, forensics, and environmental studies. The fastest-growing application segment in terms of revenue is expected to be clinical diagnostics, driven by increasing adoption of NGS technology in healthcare settings for disease diagnosis and treatment planning.

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NGS Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The NGS market is experiencing significant growth across all regions. In North America, the United States and Canada are leading the market with a dominant position due to the presence of key industry players and advanced healthcare infrastructure. In Europe, countries like Germany, France, and the . are expected to dominate the market with a high market share percent valuation. In Asia-Pacific, China, Japan, South Korea, and India are witnessing rapid growth in the NGS market with an expected increase in market share. Latin America, Middle East & Africa regions are also showing promising growth potential. Overall, North America and Europe are expected to dominate the NGS market with a combined market share of over 50%. Asia-Pacific region is projected to have the highest expected market share growth in the coming years.

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