The NGS Services Market Size in 2021 was USD 1.2 Billion, Market Value set to reach USD 5.9 Billion at 19.4% CAGR by 2030
NGS Services Market Research Report Highlights and Statistics
● TheglobalNGSServicesmarketsizein2021stoodat USD 1.2 Billion andissettoreach USD 5.9 Billion by2030,growingata CAGR of 19.4%
● ThemarketforNGSservicesissegmentedbyServiceType,byWorkflow,ByEndUseIndustryandbygeographicalregions.
● The market for NGS services is very competitive and characterized by the presence of several major players, including Illumina,Inc.,ThermoFisherScientific,Inc.,QIAGENN.V.,AgilentTechnologies,Inc.,andRocheHoldingAG,amongothers.
● ThegrowthoftheNGSservicemarketisdrivenbytheincreasingdemandforpersonalizedmedicine,thegrowingdemandfor NGSservicesindrugdiscovery,andthedecliningcostofNGSservices,amongothers.
● ThegrowthoftheNGSservicemarketshareischallengedbythelackofskilledpersonnel,dataprivacyandsecurityconcerns, andthehighcostofNGSservices,amongothers.
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NGS Services Market Overview
The Next-Generation Sequencing (NGS) Services Market is an innovative and rapidly growing sector that offers a wide range of applications for various industries. NGS refers to the modern and advanced techniques used for decoding and analyzing large
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amountsofgenomicdatainacost-effectiveandhigh-throughputmanner.TheNGSservicesmarketoffersdiversesolutions,including DNAsequencing,RNAsequencing,andepigeneticanalysis,amongothers.
The NGS services market has a wide range of applications, including human genomics, drug discovery, precision medicine, and agricultural biotechnology, among others. In human genomics, NGS is used for diagnosing and characterizing various diseases and geneticdisorders,includingcancer,cardiovasculardiseases,andneurologicalconditions.Indrugdiscovery,NGSplaysacrucialrole in identifying novel drug targets and understanding the mechanism of action of drugs. Precision medicine utilizes NGS for personalizingmedicaltreatmentanddevelopingmoreeffectivedrugs.
Agricultural biotechnology leverages NGS services to improve crop yield, enhance disease resistance, and optimize breeding strategies. NGS is also used in environmental and biodiversity research to study the genetic makeup of various species and their adaptationstodifferentenvironments.
TheNGSservicemarketischaracterizedbysignificantgrowthpotentialandawiderangeofapplications,andispoisedtocontinueits rapidgrowthinthecomingyears.Theincreasingdemandforpersonalizedmedicineandtherapidlyexpandingfieldofgenomicsare two major drivers of this market's growth. The market is also driven by the declining cost of NGS services, the development of advancedNGStechnologies,andthegrowingawarenessofthebenefitsofNGSservices.
Trends in the NGS Services Market
● Increasing demand for personalized medicine: Thegrowingdemandforpersonalizedmedicineisdrivingthegrowthofthe NGSservicemarketasNGSplaysacrucialroleinthedevelopmentofpersonalizedtreatments.
● Growing demand for NGS services in drug discovery: NGS services are playing an increasingly important role in drug discovery,andthegrowingdemandfortheseservicesisdrivingthegrowthoftheNGSservicemarket.
● Growing demand for NGS services in precision medicine: The growing demand for NGS services in precision medicine is drivingthegrowthoftheNGSservicemarketasNGSplaysacriticalroleinpersonalizingmedicaltreatment.
● Declining cost of NGS services: ThedecliningcostofNGSservicesismakingitincreasinglyaffordableforvariousindustries anddrivingthegrowthoftheNGSservicemarket.
● Expansion of the genomics market: The expanding genomics market is driving the growth of the NGS services market as NGSservicesplayacriticalroleintheadvancementofgenomics.
NGS Services Market Dynamics
● Expansion of the genotyping market: TheexpandinggenotypingmarketisdrivingthegrowthoftheNGSservicesmarketas NGSservicesplayacriticalroleingenotyping.
● Increasing demand for NGS services in academic and research institutions: The growing demand for NGS services in academic and research institutions is driving the growth of the NGS services market as NGS is playing an increasingly importantroleinresearch.
● Growing demand for NGS services in hospitals and clinics: ThegrowingdemandforNGSservicesinhospitalsandclinicsis driving the growth of the NGS services market as NGS is playing an increasingly important role in diagnosing and treating diseases.
● Growing demand for NGS services in the pharmaceutical and biotechnology industries: The growing demand for NGS servicesinthepharmaceuticalandbiotechnologyindustriesisdrivingthegrowthoftheNGSservicemarketasNGSisplaying acriticalroleindrugdiscoveryanddevelopment.
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● Increasing demand for NGS services in environmental and biodiversity research: ThegrowingdemandforNGSservices inenvironmentalandbiodiversityresearchisdrivingthegrowthoftheNGSservicemarketasNGSisusedtostudythegenetic makeupofvariousspecies.
Growth Hampering Factors in the market for NGS Services
● Complexity of NGS services: ThecomplexityofNGSservicescanbeamajorbarriertothegrowthoftheNGSservicemarket, asitrequiresspecializedskillsandknowledgetointerpretNGSdata.
● High cost of NGS services: ThehighcostofNGSservicescanbeamajorhindrancetothegrowthoftheNGSservicemarket,as itmaylimitaccesstoNGSservicesforsomeindustriesandindividuals.
● Regulatory hurdles: Thestringent regulatory requirementsfor NGS servicescanbeamajor hindrancetothe growthofthe NGSservicemarket,asitcanincreasethecostandcomplexityofNGSservices.
● Slow adoption in some regions: TheslowadoptionofNGSservicesinsomeregionscanbeamajorhindrancetothegrowth oftheNGSservicesmarket,asitcanlimitthedemandforNGSservicesinthoseregions.
● Intellectual property issues: IntellectualpropertyissuescanbeamajorhindrancetothegrowthoftheNGSservicesmarket, asitcanlimittheavailabilityofNGSservicesandrestrictinnovationinthefieldofNGS.
NGS Services Market Key Players
TheNGSServicesMarketishighlycompetitivewithalargenumberofplayersofferingarangeofservices,includingIllumina,Thermo Fisher Scientific, QIAGEN, Agilent Technologies, PerkinElmer, BGI, Eurofins Scientific, Fudan Zhangjiang Bio-Pharmaceutical, GATC
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Biotech, GenScript, SINO Gene, Macrogen, Novogene, Genewiz, Xinyuanguoji, Beijing Double-Crane Pharmaceutical, CapitalBio, Legend Biotech, and OriGene Technologies. These companies are focusing on expanding their service offerings, improving their technologicalcapabilities,andexpandingtheirgeographicalreachtocapturealargershareofthegrowingNGSservicesmarket.
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Market Segmentation
● By Service Type
○ SingleCellSequencing
○ HumanGenomeSequencing
○ GeneRegulationServices
■ ChIPSequencing
■ SmallRNASequencing
■ Other
○ AnimalandPlantSequencing
○ Other
● By Workflow
○ Sequencing
○ Pre-sequencing
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○ DataAnalysis
● By End Use
○ PharmaandBiotechEntities
○ HospitalsandClinics
○ UniversitiesandResearchEntities
○ Others
NGS Service Market Overview by Region
● North America’s NGS Services Market share is the highest globally and is driven by the presence of a large number of pharmaceutical and biotechnology companies, as well as well-established research institutions. Theincreasing prevalence of chronic diseases and the growing demand for personalized medicine are also contributing to the growth of the NGS service marketinNorthAmerica.
● Asia Pacific region’s NGS Service market share is growing at the fastest rate and is driven by the increasing demand for personalizedmedicine,thegrowinginvestmentingenomicsresearch,andthepresenceofalargeandgrowingpopulation.The rapid expansion of the biotechnology industry in countries such as China and India is also contributing to the growth of the NGSservicesmarketintheAsia-Pacificregion.
● Europe isanotherkeymarketforNGSServices,marketisdrivenbythepresenceofleadingpharmaceuticalandbiotechnology companies, as well as a well-developed healthcare infrastructure. The growing demand for precision medicine and the increasinginvestmentingenomicsresearcharealsocontributingtothegrowthoftheNGSservicesmarketinEurope.
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● The South American and MEA regions haveasmallerNGSServicesmarket sharebutweareanticipatingtoseesignificant growthinthecomingyears.Marketisdrivenbytheincreasingdemandforpersonalizedmedicineandthegrowinginvestment ingenomicsresearch
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