The Next-generation Sequencing Services Market is expected to grow at a CAGR of 20.4% from 2021 to 2028 to reach $14.1 billion by 2028. The growth of this market is mainly attributed to the reducing cost of NGS procedures, the development and approval of new targeted therapies, rising prevalence of cancer, partnerships between NGS service providers and pharmaceutical companies, high cost of sequencing infrastructure, and technological advancements in NGS. In addition, advancements in sequencing data analytics and the increasing applications of NGS in cancer and agri-genomics research are expected to offer significant growth opportunities for NGS service providers.

the availability of alternative technologies, lack of skilled professionals for sample preparation and analysis, and actionable mutations for precision medicine may restrain the growth of the NGS services market. Moreover, regulatory & standardization concerns in diagnostic testing and the ethical issues & costs related to non-invasive prenatal genetic testing are major challenges for the growth of this market.

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In 2021, North America is estimated to account for the largest share of the global NGS services market

Based on region, the NGS services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, North America is estimated to account for the largest share of the global NGS services market. The large share of North America in the NGS services market is primarily attributed to the presence of leading NGS service providers in the region, favorable government initiatives for genomics research, growing applications of NGS-based research, declining cost of sequencing coupled with the rising awareness of NGS, increasing research investments by pharmaceutical and biopharmaceutical companies, increasing cancer prevalence, and favorable reimbursement scenario in the region.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments that market participants adopted over the past four years. The key players profiled in the global next-generation sequencing services market report include Illumina, Inc. (U.S.), Qiagen N.V. (Netherland), PerkinElmer, Inc. (U.S.), Eurofins Scientific S.E. (Luxembourg), Macrogen, Inc. (South Korea), LGC Limited (U.K.), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd (India), MedGenome Inc. (U.S.), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Co., Ltd. (China), CD Genomics (U.S.), Foundation Medicine, Inc. (U.S), and SeqLL, Inc. (U.S.).

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In 2021, the hospitals & clinics segment is estimated to account for the largest share of the global NGS services market

Based on end user, the global NGS services market is segmented into hospitals & clinics, pharmaceutical & biotechnology companies, academic & research institutes, and other end users. In 2021, the hospitals & clinics segment is estimated to account for the largest share of the global NGS services market. The large share of this segment is attributed to factors such as high capital requirements for building in-house NGS capabilities in hospitals & clinics, the rising prevalence of cancer and other chronic diseases, the growing demand for advanced medical treatments, and the rising number of biomarker-based therapies.

Scope of the Report

NGS Services Market, by Type

Targeted Sequencing Services
RNA Sequencing Services
De Novo Sequencing Services
Exome Sequencing Services
Chip Sequencing Services
Whole-genome Sequencing Services
Methyl Sequencing Services
Other Services
NGS Services Market, by Technology

Sequencing By Synthesis (SBS)
Ion Semiconductor Sequencing (IOS)
Single-molecule Real-time Sequencing (SMRT)
Nanopore Sequencing
Other Technologies
NGS Services Market, by Application

Diagnostics
Drug Discovery
Biomarker Discovery
Agriculture & Animal Research
Other Applications
NGS Services Market, by End User

Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Academics & Research Institutes
Other End Users
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Key Findings in the Global Next-generation Sequencing Services Market Study

The exome sequencing services segment is expected to grow at the highest CAGR during the forecast period
The single-molecule real-time sequencing segment is expected to grow at the highest CAGR during the forecast period
The biomarker discovery segment is expected to grow at the highest CAGR during the forecast period

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