1h Free Analyst Time
The Next Generation Sequencing Market grew from USD 17.73 billion in 2023 to USD 21.38 billion in 2024. It is expected to continue growing at a CAGR of 23.61%, reaching USD 78.21 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Next Generation Sequencing (NGS) represents a paradigm shift in genomic research, enabling rapid sequencing of entire genomes or targeted regions, significantly enhancing our understanding of genetics. Its necessity stems from its transformative ability to provide comprehensive insights into genetic variations, which has broad applications in healthcare for diagnostics, personalized medicine, and genetic disorder research. The end-use scope of NGS extends across academic research institutions, clinical laboratories, pharmaceutical companies, and biotechnology firms who are pivotal in genomic-based research and applications. Several growth factors are influencing the market positively. Key among them is the decreasing cost of sequencing, making it more accessible and appealing across various fields like oncology, infectious disease diagnostics, and agrigenomics. Another vital driver is the rising demand for personalized medicine, which utilizes NGS to tailor healthcare solutions, improving treatment efficacy and patient outcomes. There are still challenges, such as the vast amount of data generated by NGS, which necessitates robust data analysis tools and infrastructure. Ethical concerns related to data privacy and the potential misuse of genetic information also pose significant hurdles. Furthermore, the complexity and cost of implementing NGS technologies remain barriers for some healthcare settings. To capitalize on the burgeoning opportunities, companies should focus on expanding into emerging markets, enhancing bioinformatics capabilities, and developing user-friendly, cost-effective NGS platforms. Bioinformatics, in particular, presents a promising area for innovation, as marrying NGS with cutting-edge AI technologies can drive new efficiencies in data interpretation and application. Despite challenges, the market exhibits strong potential given the ongoing advancements in sequencing technology and increasing global awareness of genomic medicine's benefits. By addressing technical and ethical challenges and investing in technological and infrastructural innovation, businesses can be poised to leverage growth within this dynamic market space.
Understanding Market Dynamics in the Next Generation Sequencing Market
The Next Generation Sequencing Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.- Market Drivers
- Extensive adoption of NGS technologies in clinical diagnostics due to rapid result time and faster processin
- Increased application of NGS and exponential availability of funds for oncology research
- Emerging adoption in the agriculture sector to analyze the genetic potential of plants
- Market Restraints
- Lack of the computational resources and staffing to analyze and interpret clinical data
- Market Opportunities
- Continuous focus on new technology development and commercialization of NGS based products
- Increased support from government and private sector for large scale sequencing technology
- Market Challenges
- Ethical and privacy concerns related to next generation sequencing data protection
Exploring Porter’s Five Forces for the Next Generation Sequencing Market
Porter’s Five Forces framework further strengthens the insights of the Next Generation Sequencing Market, delivering a clear and effective methodology for understanding the competitive landscape. This tool enables companies to evaluate their current competitive standing and explore strategic repositioning by assessing businesses’ power dynamics and market positioning. It is also instrumental in determining the profitability of new ventures, helping companies leverage their strengths, address weaknesses, and avoid potential pitfalls.Applying PESTLE Analysis to the Next Generation Sequencing Market
External macro-environmental factors deeply influence the performance of the Next Generation Sequencing Market, and the PESTLE analysis provides a comprehensive framework for understanding these influences. By examining Political, Economic, Social, Technological, Legal, and Environmental elements, this analysis offers organizations critical insights into potential opportunities and risks. It also helps businesses anticipate changes in regulations, consumer behavior, and economic trends, enabling them to make informed, forward-looking decisions.Analyzing Market Share in the Next Generation Sequencing Market
The Next Generation Sequencing Market share analysis evaluates vendor performance. This analysis provides a clear view of each vendor’s standing in the competitive landscape by comparing key metrics such as revenue, customer base, and other critical factors. Additionally, it highlights market concentration, fragmentation, and trends in consolidation, empowering vendors to make strategic decisions that enhance their market position.Evaluating Vendor Success with the FPNV Positioning Matrix in the Next Generation Sequencing Market
The Next Generation Sequencing Market FPNV Positioning Matrix is crucial in evaluating vendors based on business strategy and product satisfaction levels. By segmenting vendors into four quadrants - Forefront (F), Pathfinder (P), Niche (N), and Vital (V) - this matrix helps users make well-informed decisions that best align with their unique needs and objectives in the market.Strategic Recommendations for Success in the Next Generation Sequencing Market
The Next Generation Sequencing Market strategic analysis is essential for organizations aiming to strengthen their position in the global market. A comprehensive review of resources, capabilities, and performance helps businesses identify opportunities for improvement and growth. This approach empowers companies to navigate challenges in the increasingly competitive landscape, ensuring they capitalize on new opportunities and align with long-term success.Key Company Profiles
The report delves into recent significant developments in the Next Generation Sequencing Market, highlighting leading vendors and their innovative profiles. These include 10x Genomics, Inc., Agilent Technologies, Inc., ATDBio Ltd., BGI Genomics Co., Ltd., Bio-Rad Laboratories, Inc., BIO3 SCIENTIFIC SDN BHD, bioMerieux S.A., BioVendor-Laboratorní medicína a.s, Cambridge Bioscience Limited, CD Genomics, CeGaT GmbH, Charles River Laboratories, Inc., DNAnexus, Inc., DNASTAR, Inc., ELEMENT BIOSCIENCES, Enzo Life Sciences, Inc., Eppendorf SE, Eurofins Scientific SE, F. Hoffmann-La Roche Ltd., Fraunhofer-Gesellschaft, GENEWIZ, Genomatix, GenPath, GenScript Biotech Corporation, GRAIL, LLC, Hamilton Company, Illumina, Inc., Integrated DNA Technologies, Inc., Invivoscribe, Inc., iRepertoire, Inc., LabMal, Macrogen, Inc., Medigene Sdn Bhd., Merck KGaA, NanoString Technologies, Inc., Neoscience, Norgen Biotek Corp., Oxford Nanopore Technologies PLC, Pacific Biosciences of California, Inc., PathoQuest, PCR Biosystems Ltd., Perkin Elmer, Inc., Promega Corporation, PT Pandu Biosains, Qiagen N.V., Resolution Bioscience, Inc., Takara Bio Inc., and Thermo Fisher Scientific Inc..Market Segmentation & Coverage
This research report categorizes the Next Generation Sequencing Market to forecast the revenues and analyze trends in each of the following sub-markets:- Technology
- Targeted Sequencing & Re-Sequencing
- Whole Exome Sequencing
- Whole Genome Sequencing
- Product Type
- Consumables
- Platforms
- Services
- Application
- Agriculture
- Animal science & Veterinary Research
- Diagnostics
- Drug Discovery
- End User
- Academic & Research Institutes
- Clinical Laboratories
- Contract Research Organization
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Next Generation Sequencing Market, by Technology
7. Next Generation Sequencing Market, by Product Type
8. Next Generation Sequencing Market, by Application
9. Next Generation Sequencing Market, by End User
10. Americas Next Generation Sequencing Market
11. Asia-Pacific Next Generation Sequencing Market
12. Europe, Middle East & Africa Next Generation Sequencing Market
13. Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
The leading players in the Next Generation Sequencing Market, which are profiled in this report, include:- 10x Genomics, Inc.
- Agilent Technologies, Inc.
- ATDBio Ltd.
- BGI Genomics Co., Ltd.
- Bio-Rad Laboratories, Inc.
- BIO3 SCIENTIFIC SDN BHD
- bioMerieux S.A.
- BioVendor–Laboratorní medicína a.s
- Cambridge Bioscience Limited
- CD Genomics
- CeGaT GmbH
- Charles River Laboratories, Inc.
- DNAnexus, Inc.
- DNASTAR, Inc.
- ELEMENT BIOSCIENCES
- Enzo Life Sciences, Inc.
- Eppendorf SE
- Eurofins Scientific SE
- F. Hoffmann-La Roche Ltd.
- Fraunhofer-Gesellschaft
- GENEWIZ
- Genomatix
- GenPath
- GenScript Biotech Corporation
- GRAIL, LLC
- Hamilton Company
- Illumina, Inc.
- Integrated DNA Technologies, Inc.
- Invivoscribe, Inc.
- iRepertoire, Inc.
- LabMal
- Macrogen, Inc.
- Medigene Sdn Bhd.
- Merck KGaA
- NanoString Technologies, Inc.
- Neoscience
- Norgen Biotek Corp.
- Oxford Nanopore Technologies PLC
- Pacific Biosciences of California, Inc.
- PathoQuest
- PCR Biosystems Ltd.
- Perkin Elmer, Inc.
- Promega Corporation
- PT Pandu Biosains
- Qiagen N.V.
- Resolution Bioscience, Inc.
- Takara Bio Inc.
- Thermo Fisher Scientific Inc.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 188 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 21.38 Billion |
| Forecasted Market Value ( USD | $ 78.21 Billion |
| Compound Annual Growth Rate | 23.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 48 |
