The global next-generation sequencing market size was valued at USD 10.4 billion in 2021 and is poised to grow at a significant CAGR of 18.8% during the forecast period 2022-28.  Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Next-Generation Sequencing Market: By Product And Service Type (Pre-sequencing products and services market,( DNA fragmentation, size selection, A-tailing, and end repair, Library preparation and target enrichment, Quality control), Sequencing services market (Targeted sequencing/gene panels, RNA-Seq, De Novo sequencing, Exome sequencing, Chip-Seq, Whole-genome sequencing, Methyl-Seq, others ), Next-generationn Sequencing, Data Analysis, storage, and management (Bioinformatics) market (NGS data analysis software & workbenches, NGS data analysis services, NGS storage management and cloud computing solutions)), By Technology (Ion semiconductor sequencing, Sequencing by the synthesis (SBS), Nanopore sequencing, Single-molecule real-time (SMRT) sequencing), By Application (Drug discovery, Diagnostics, Agriculture and animal research, Biomarker discovery, Precision medicine, Other applications), BY End User (Biotechnology and Pharmaceutical Companies, Research Centres, Hospitals & Clinics, Others) - Global/Region/Country Forecast to 2028.  

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Growing R&D activities by the major players is driving the Next-Generation Sequencing Market:
Next generation sequencing process is performed by massive parallelization. It is the process to sequence DNA stands alike the nucleotides in a DNA molecule. This process reduces the needs for the fragment-cloning method employed to sequence the genomes by Sanger’s method. This sequencing process is favored over the Sanger’s method because of the precise results, low cost and high accuracy.  It is frequently used in agricultural and animal research, oncology studies, personalized medicine, biomarker discovery and others. As many local and international players are involved in the development of global net-generation sequencing market, the global market is in growing stage. Organizations are emphasizing more on launching low-cost sequencing devices in routine medical check-ups.

There are a few major factors driving the next generation sequencing market such as development of personalized medicine, technological development in next-generation sequencing, increasing gene mapping programs, increasing various applications, increase in the automation for pre-sequencing programs and decreasing cost of sequencing. In addition, growing R&D activities by the key players and drug discovery applications are fuelling the market demand. On the other hand, ethical and legal issues in the interpretation, lack of skilled professionals. High reliability on funding from the government and storage and management of patient data hinder the market growth over the upcoming years.

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North America accounted for major share in the Next-Generation Sequence Market:
North America projected to witness a major share due to the growing R&D activities for proteomic and genomic sequence determination, developing healthcare infrastructure, growing adoption of next generation sequence and decrease in the cost. Furthermore, many of the end users for both academic and clinical use are from Germany, U.K. and U.S. because of the presence of universities providing molecular biology course in such regions might fuel the next generation sequencing market. Asia Pacific market is also estimated to grow at rapid rate due to the increase in agreements & partnerships amid key players, growing medical consciousness in regional population, increase in the investment to develop healthcare expenditure and government funding for translational research.

The global next-generation sequencing market key players are Agilent Technologies, Illumina, Pacific Biosciences, Qiagen N. V., PerkinElmer, F. Hoffmann La Roche AG, Genomatix GmbH, Oxford Nanopore Technologies and Eurofins Scientific. These players in the market focus on following collaborations and partnerships to strengthen their place in the market.

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