Next-Generation Sequencing (NGS) Market is expected to grow at a CAGR during the forecasting period (2022-2029). Next-Generation Sequencing (NGS) is a technology in which millions of DNA strands can be sequenced through massive parallelization, this technique is also known as high throughput sequencing. The low cost, high accuracy and speed, and precise results even from low sample inputs are the main advantages NGS offers over Sanger’s sequencing method. DNA pre-sequencing is one of the most significant steps in the overall sequencing protocol as it involves preparation of sample for the subsequent sequencing reaction.
The global Next-Generation Sequencing (NGS) market growth is driven by the increase in genome mapping programs, rise in applications of next generation sequencing, increase in healthcare expenditure and technological advancements in sequencing platforms.
The advancements in NGS platforms will drive the market growth
Continuous technological innovations in sequencers have enabled the introduction of efficient, portable, and easy-to-use NGS platforms, capable of providing rapid and accurate results and boasting improved turnaround times. The introduction of such products and the technologies behind them provides an immediate competitive edge to players; as a result, prominent companies are increasingly focusing on the research and development of such products to strengthen their market positions and shares.
NGS has been considered the most potent tool in diagnostics and in researches to understand the treatment regimen for various diseases, including cancer, infectious diseases, cardiovascular diseases, etc. According to the United States National Institutes of Health, National Human Genome Research Institute, in 2017, most of the rare diseases were genetic in nature. There has been continuous progress in understanding diseases at the genomic level and molecular level, and various companies are deploying resources in the testing of these diseases to leverage opportunities which is also fueling the market opportunities. For instance, in August 2020, GeneDx Inc., a subsidiary of BioReference Laboratories Inc., and OPKO Health entered an agreement with Pediatrix Medical Group to offer state-of-the-art, next-generation genomic sequencing to support clinical diagnosis in rare diseases for neonatal intensive care units. Also, in 2017, Myriad Genetics Inc. launched the EndoPredict test for patients with ER+ HER2- early-stage breast cancer.
In January 2020, in the United States, the Intelligence Advanced Research Projects Activity provided USD 23 million to the Broad Institute and Harvard University and DNA Script. The organizations have been working together to explore the possibility of combining the enzymatic DNA synthesis technology and NGS into a single instrument for more than four years. Such developments are a major boost to the clinical studies and organizations progressing with NGS as their basis of innovation.
Budget constraints in developing countries is likely to hamper the market growth
However, academic R&D in developing nations is mostly dependent on external funding. Despite continuous efforts by government and private bodies to provide funds for research across the globe, various research and academic institutes are facing budget constraints when it comes to the purchase and use of advanced and premium-priced equipment and technologies. As a result, the installation/expansion of advanced research facilities is hampered in academic and research institutes in developing nations. This is a key hindrance to the adoption of technologies such as NGS in developing nations across Africa and Asia.
COVID-19 Impact Analysis
Next-generation sequencing (NGS) diagnostic technology has the potential advantage of determining the genetic sequence of a virus and helping scientists understand the mutation of the virus. Throughout the COVID-19 pandemic, government authorities across the world are constantly working with the private sector to bring NGS technology as the potential diagnostic tool in the market. In June 2020, the United States Food and Drug Administration (US FDA) issued an emergency use authorization (EUA) to Illumina Inc. for the first COVID-19 diagnostic test utilizing next-generation sequence technology. The FDA authorized the Illumina COVIDSeq Test for the qualitative detection of SARS-CoV-2 RNA.
Companies have scaled up R&D efforts to develop vaccines and drugs against the virus. For instance, researchers at Fuyang City (China) were the first to sequence COVID-19 samples using Oxford Nanopore Technologies (UK) MinION Mk1C. The team is part of a growing network of public health and CDC labs in China that are deploying Nanopore products for rapid epidemiological surveillance.
The whole genome sequencing segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Whole-genome sequencing (WGS) is a comprehensive method for analyzing entire genomes. Genomic information has been instrumental in identifying inherited disorders, characterizing the mutations that drive cancer progression, and tracking disease outbreaks. While this method is commonly associated with sequencing human genomes, the scalable, flexible nature of next-generation sequencing (NGS) technology makes it equally useful for sequencing any species, such as agriculturally important livestock, plants, or disease-related microbes.
In 2013, CDC began using whole genome sequencing to detect outbreaks caused by the deadly bacteria Listeria. CDC is quickly expanding the use of whole genome sequencing in state laboratories, and scientists will soon begin using whole genome sequencing for outbreak investigations of other foodborne pathogens, such as Campylobacter, Shiga toxin-producing E. coli (STEC), and Salmonella. CDC’s Advanced Molecular Detection (AMD) initiative partially funded the expansion of real-time WGS for food safety. Also, there are various technological advancements in the field of whole-genome sequencing, fueling the market growth. For instance, in February 2019, Machaon Diagnostics launched a 48-hour STAT Hemophagocytic Lymphohistiocytosis (HLH) Genetic Panel, one of the fastest NGS genetic testing panels for Hemophagocytic Lymphohistiocytosis, a rare disease in young children and infants due to cancer. Such developments by the major players and their collaborations with innovative upcoming companies in sequencing and diagnostics are propelling the growth of the whole genome sequencing segment of the market.
North America region holds the largest market share of global next-generation sequencing (NGS) market
North America is expected to hold the largest share in the NGS market. The rising focus of the major market players is on delivering advanced, efficient NGS technologies to developing countries to cater to the need for genomic medicines and whole-genome sequencing for personalized medicine. For instance, in January 2018, Thermo Fisher introduced the upgraded Ion AmpliSeq Exome RDY kit that enables cost-effective, rapid identification of copy number variations, small insertions, or deletions. These advanced technologies assist in understanding heritability and complex disorders, thereby favoring DNA sequencing growth in the forecast period.
In addition, the increasing adoption of NGS technology by the non-government and government bodies, along with increased funding by the federal government and the private players, is expected to drive the market growth. The National Human Genome Research Institute has launched the National Human Genome Research Institute (NHGRI) Genome Technology Program and Advanced DNA Sequencing Technology awards to provide funding and research support to players to develop advanced and novel NGC technologies. These factors are driving the growth of the market in the region.
The Next-Generation Sequencing (NGS) Market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Agilent Technologies, Bio-Rad Laboratories Inc., DNASTAR Inc., Eurofins Scientific, F. Hoffmann-La Roche Ltd, Illumina Inc., Macrogen Inc., Pacific Biosciences of California Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Next-Generation Sequencing (NGS) Market globally. For instance in August 2020, Guardant Health Inc. received the United States Food and Drug Administration (FDA) approval for Guardant360 CDx, the first liquid biopsy companion diagnostic that also uses next-generation sequencing (NGS) technology for tumor mutation profiling, also known as comprehensive genomic profiling (CGP), in patients with any solid malignant neoplasm (cancerous tumor).
Thermo Fisher Scientific, Inc.
Overview: Thermo Fisher Scientific, Inc. manufactures scientific instruments, consumables, and chemicals. The Company offers analytical instruments, laboratory equipment, software, services, consumables, reagents, chemicals, and supplies to pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions, and government agencies.
Next-Generation Sequencing Solutions: Targeted next-generation sequencing (NGS) solutions offer a fast and affordable approach to sequencing. Automated library construction, template prep, and chip loading coupled with cartridge-based reagents help take NGS workflows from tedious to simple.
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