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Global Next-generation Sequencing Services Market is valued at approximately USD 4.80 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 22.68% over the forecast period 2023-2030. Next-Generation Sequencing (NGS) Services encompass a diverse set of genomic sequencing solutions offered by specialized service providers. NGS is an influential technology facilitating swift and cost-effective analysis of DNA, RNA, and other biological molecules on a large scale recognized as high-throughput sequencing. These services provide a range of sequencing applications, including whole-genome sequencing, exome sequencing, RNA sequencing, targeted sequencing, and various others. The utilization of Next-Generation Sequencing (NGS) technology is on the rise for both conventional and non-conventional applications, allowing for swift and comprehensive genomic insights. This trend is predominantly driven by ongoing enhancements in automation, ancillary protocols, services, and analytical solutions within the NGS field. Consequently, these advancements have created favorable conditions for the integration of NGS into clinical workflows, contributing to the growth prospects for market expansion. Additionally, the declining price of sequencing, the high cost of sequencing infrastructure, coupled with the rising need for skilled professionals for efficient NGS sample preparation and analysis are the key factors contributing to the market demand globally.
Moreover, the increasing prevalence of genetic disorders worldwide highlights the significance of advanced genomic analysis, which is augmenting the market growth. Accordingly, the rise in incidences of a range of genetic disorders such as sickle cell disease, cystic fibrosis, Alpha-1 Antitrypsin (AAT) deficiency, hemophilia, and more are primarily attributed to the market demand. For instance, cystic fibrosis, a progressive genetic condition, impacts multiple organs, including the lungs and pancreas. The American Lung Association reported that in November 2022, approximately 30,000 individuals in the United States and 70,000 people worldwide were affected by this disease. Also, approximately 1 in 30 Americans is a carry a gene mutation associated with cystic fibrosis. This condition transcends racial and ethnic boundaries, affecting individuals from diverse backgrounds. In individuals with cystic fibrosis, mutations within the Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) gene result in dysfunctional CFTR protein. When this protein fails to function properly, it cannot facilitate the movement of chloride—a component of salt—to the cell surface. Consequently, the absence of chloride to attract water to the cell surface leads to the thickening and stickiness of mucus in various organs. NGS services offer a powerful tool for identifying and understanding genetic variations associated with various disorders, driving demand in diagnostic applications. Thus, these aforementioned factors are propelling the growth of the Next-generation Sequencing Services Market over the estimated period. Moreover, the rising emphasis on the analysis of complex sequencing data, as well as increasing applications in cancer and agrigenomics research present various lucrative opportunities over the forecast years. However, the installation of in-house sequencing facilities in hospitals and universities and the accuracy & standardization concerns in diagnostic testing are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Next-generation Sequencing Services Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rise in the number of genomics research projects, robust informatics network, well-defined regulatory guidelines governing the approval and utilization of genetic tests, and the prominence of market leaders. Furthermore, the increasing count of FDA-approved genomic tests in the United States is expected to propel the regional market’s growth consistently over the forecast period. Whereas, Europe is expected to grow at the highest CAGR over the forecast years. The ongoing economic development and rapid development of healthcare infrastructure are significantly propelling the market demand across the region. Additionally, the increasing focus of government bodies on public health maintenance, coupled with investments in the advancement of innovative diagnostic approaches is expected to drive the adoption of sequencing services across different regions.
Major market players included in this report are:
Quest Diagnostics Incorporated
ARUP Laboratories
Applied Biological Materials, Inc. (abm)
Novogene Co, Ltd.
Azenta Life Sciences (GENEWIZ)
NanoString Technologies, Inc.
Illumina, Inc.
PacBio
Veritas Technologies LLC.
BGI (Beijing Genomics Institute)
Recent Developments in the Market:
Ø In November 2021, Novogene announced its plans to introduce dedicated single cell sequencing services tailored for its Japanese clientele during the 44th Annual Gathering of the Molecular Biological Society of Japan (MSBJ). Novogene Japan K.K. offer on-site services to support clients in optimizing their single-cell sequencing plans through this new service.
Ø In November 2021, Illumina and Genetic Alliance unveiled the iHope Genetic Program, aiming to extend access to Whole-Genome Sequencing (WGS) for thousands of individuals grappling with genetic illnesses worldwide. The majority of iHope Genetic Health’s programs focus on underdeveloped areas of the world outside of the United States, with more than one-third of Illumina’s funding going toward treating patients in Africa. This improves the volume and efficiency of sequencing in current operations and expedites their start-up.
Global Next-generation Sequencing Services Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Workflow, End-use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Human Genome Sequencing
Single Cell Sequencing
Microbial Genome-based Sequencing
Gene Regulation Services
Animal & Plant Sequencing
Other Sequencing Services
By Workflow:
Pre-sequencing
Sequencing
Data Analysis
By End-use:
Universities & Other Research Entities
Hospitals & Clinics
Pharma & Biotech Entities
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Next-generation Sequencing Services Market, by Region, 2020-2030 (USD Billion)
1.2.2. Next-generation Sequencing Services Market, by Type, 2020-2030 (USD Billion)
1.2.3. Next-generation Sequencing Services Market, by Workflow, 2020-2030 (USD Billion)
1.2.4. Next-generation Sequencing Services Market, by End-use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Next-generation Sequencing Services Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Next-generation Sequencing Services Market Dynamics
3.1. Next-generation Sequencing Services Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing prevalence of genetic disorders
3.1.1.2. High cost of sequencing infrastructure
3.1.2. Market Challenges
3.1.2.1. Installation of in-house sequencing facilities in hospitals and universities
3.1.2.2. Accuracy & standardization concerns in diagnostic testing
3.1.3. Market Opportunities
3.1.3.1. Rising emphasis on the analysis of complex sequencing data
3.1.3.2. Increasing applications in cancer and agrigenomics research
Chapter 4. Global Next-generation Sequencing Services Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Next-generation Sequencing Services Market, by Type
5.1. Market Snapshot
5.2. Global Next-generation Sequencing Services Market by Type, Performance – Potential Analysis
5.3. Global Next-generation Sequencing Services Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Next-generation Sequencing Services Market, Sub Segment Analysis
5.4.1. Human Genome Sequencing
5.4.2. Single Cell Sequencing
5.4.3. Microbial Genome-based Sequencing
5.4.4. Gene Regulation Services
5.4.5. Animal & Plant Sequencing
5.4.6. Other Sequencing Services
Chapter 6. Global Next-generation Sequencing Services Market, by Workflow
6.1. Market Snapshot
6.2. Global Next-generation Sequencing Services Market by Workflow, Performance – Potential Analysis
6.3. Global Next-generation Sequencing Services Market Estimates & Forecasts by Workflow 2020-2030 (USD Billion)
6.4. Next-generation Sequencing Services Market, Sub Segment Analysis
6.4.1. Pre-sequencing
6.4.2. Sequencing
6.4.3. Data Analysis
Chapter 7. Global Next-generation Sequencing Services Market, by End-use
7.1. Market Snapshot
7.2. Global Next-generation Sequencing Services Market by End-use, Performance – Potential Analysis
7.3. Global Next-generation Sequencing Services Market Estimates & Forecasts by End-use 2020-2030 (USD Billion)
7.4. Next-generation Sequencing Services Market, Sub Segment Analysis
7.4.1. Universities & Other Research Entities
7.4.2. Hospitals & Clinics
7.4.3. Pharma & Biotech Entities
7.4.4. Others
Chapter 8. Global Next-generation Sequencing Services Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Next-generation Sequencing Services Market, Regional Market Snapshot
8.4. North America Next-generation Sequencing Services Market
8.4.1. U.S. Next-generation Sequencing Services Market
8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Workflow breakdown estimates & forecasts, 2020-2030
8.4.1.3. End-use breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Next-generation Sequencing Services Market
8.5. Europe Next-generation Sequencing Services Market Snapshot
8.5.1. U.K. Next-generation Sequencing Services Market
8.5.2. Germany Next-generation Sequencing Services Market
8.5.3. France Next-generation Sequencing Services Market
8.5.4. Spain Next-generation Sequencing Services Market
8.5.5. Italy Next-generation Sequencing Services Market
8.5.6. Rest of Europe Next-generation Sequencing Services Market
8.6. Asia-Pacific Next-generation Sequencing Services Market Snapshot
8.6.1. China Next-generation Sequencing Services Market
8.6.2. India Next-generation Sequencing Services Market
8.6.3. Japan Next-generation Sequencing Services Market
8.6.4. Australia Next-generation Sequencing Services Market
8.6.5. South Korea Next-generation Sequencing Services Market
8.6.6. Rest of Asia Pacific Next-generation Sequencing Services Market
8.7. Latin America Next-generation Sequencing Services Market Snapshot
8.7.1. Brazil Next-generation Sequencing Services Market
8.7.2. Mexico Next-generation Sequencing Services Market
8.8. Middle East & Africa Next-generation Sequencing Services Market
8.8.1. Saudi Arabia Next-generation Sequencing Services Market
8.8.2. South Africa Next-generation Sequencing Services Market
8.8.3. Rest of Middle East & Africa Next-generation Sequencing Services Market
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Quest Diagnostics Incorporated
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. ARUP Laboratories
9.3.3. Applied Biological Materials, Inc. (abm)
9.3.4. Novogene Co, Ltd.
9.3.5. Azenta Life Sciences (GENEWIZ)
9.3.6. NanoString Technologies, Inc.
9.3.7. Illumina, Inc.
9.3.8. PacBio
9.3.9. Veritas Technologies LLC.
9.3.10. BGI (Beijing Genomics Institute)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.
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