Saudi Arabia Next Generation Sequencing (NGS) Market Size, Share, Forecast, & Trends Analysis by Offering, Type, Application, End User - Forecast to 2031

Saudi Arabia NGS market is projected to reach $ 50.0 million by 2031 at a CAGR of 10.1% during the forecast period from 2024 to 2031.

Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities. The growth of this market is driven by the rising number of cancer cases, increasing pharmaceutical R&D expenditures, and the surge in genome mapping programs are factors driving the growth of Saudi Arabia NGS market. However, the high costs of NGS systems and consumables, data confidentiality concerns, the availability of alternative technologies, the low chances of identifying positive, actionable biomarkers, and ethical & legal issues related to NGS-based diagnosis restrain the growth of this market
In addition, the increasing adoption of NGS tools among hospitals and clinical laboratories and government initiatives supporting large-scale genomic sequencing projects offer considerable growth opportunities for market players. However, the shortage of skilled professionals, issues related to data storage, handling, interpretation, and confidentiality, and concerns about regulatory standards and standardization in diagnostic testing are some of the challenges impacting the market's growth.

The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry in the past three to four years (2020-2024). Some of the key players operating in Saudi Arabia NGS market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Beijing Genomics Institute (BGI) (China), Bio-Rad Laboratories, Inc. (U.S.), and 10x Genomics, Inc. (U.S.).

Among all the offerings studied in this report, the consumables segment is projected to register the highest CAGR of 10.3% during the forecast period. This segment's growth is attributed to the increasing prevalence of genetic diseases, growing adoption of genetic testing, and recurring purchases of consumables over instruments.

Among all the sequencing types studied in this report, the targeted genome sequencing segment is slated to register the highest growth rate of 11.2% during the forecast period. This technology has facilitated the study of gene-drug associations, aiding in the design of gene-specific drugs with higher precision, thus increasingly adopted by pharmaceutical and biotechnology companies. Additionally, low cost, improved accuracy and speed, and greater depth of coverage than other sequencing methods are further driving the market growth.

Among all the applications studied in this report, in 2024, the research & other applications segment is expected to account for the largest share of 56.9% of Saudi Arabia NGS market. The large share of the segment is attributed to the rising prevalence of genetic diseases, the increasing need for pathogen surveillance, the availability of funding for agriculture and animal research, and supportive government initiatives. For instance, under Vision 2030, $10 billion was allocated to stabilize the global food supply chain and boost domestic agricultural production.

Among all the end users studied in this report, the pharmaceutical & biotechnology companies segment is expected to record the highest CAGR during the forecast period. The highest CAGR of the segment is attributed to the increasing R&D expenditure by pharmaceutical & biotechnology companies, the rising utilization of genomics for research processes, and an increasing number of biotechnology companies. Moreover, the National Biotechnology Strategy by the Saudi Arabian government is aimed at localizing bio-manufacturing, driving market growth.