Next-Generation Sequencing Services Market Size, Share & Trends Analysis Report By Service Type (Human Genome Sequencing, Gene Regulation Services), By Workflow, By End-use- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

According to Nova one advisor, the global Next-Generation Sequencing Services Market Size accounted for USD 2.09 billion in 2022 and is estimated to achieve a market size of USD 6.55 billion by 2032 growing at a CAGR of 19.3% from 2023 to 2032.

Key Takeaways:

• By service type, human genome sequencing held the largest revenue share in 2022 owing to greater penetration of whole genome and whole exome sequencing
• Gene regulation services, particularly small RNA sequencing and ChIP-seq, are anticipated to grow at a lucrative pace during the forecast period. Rising investment in RNA sequencing is fueling the growth of gene regulation services
• The larger revenue share of sequencing services as compared to other workflow steps can be attributed to an increase in the installation of sequencing platforms. High maintenance and recovery costs of this step have also resulted in greater revenue generation
• By end-use, the universities and other research entities segment held the largest revenue share in 2022 owing to the growing application of NGS technology for cancer prognosis as well as diagnosis and major projects taken up by academicians and universities
• North America dominated the market in 2022 owing to higher penetration of the technology in this region and the availability of funds to employ the technique and derive research findings for disease targeting
• Companies such as GENEWIZ and Novogene Corporation are engaged in offering NGS services based on platforms from major NGS developers. Companies such as Illumina and BGI, on the other hand, are involved in developing sequencing instruments and offering services to research entities
• In November 2022, Novogene stated during the 44th Annual Gathering of Molecular Biological Society of Japan (MSBJ) in Japan that they will be launching single-cell sequencing services specifically for their Japanese customers
• GENEWIZ scientists are assisting in identifying the NGS solution for the projects. The NeXT Dx Test was launched by Personalis, Inc. to assist oncologists in identifying new therapy and clinical trial choices for cancer patients

The development of next-generation sequencing (NGS) technologies has revolutionized gene sequencing in terms of reproducibility and cost savings. This has resulted in the introduction of several advancements in NGS technology to promote its usage in clinical labs and hospitals. Most current innovations in this field revolve around simplifying the usage of seq-technology and making it more sophisticated. These factors have driven the uptake of NGS services across various end-users.

Next-generation sequencing has progressed from research to clinical use in the last five years. Around 14 nations have launched large-scale genome sequencing programs, with nearly 60 million people expected to have their genome analyzed by 2025. Conventional disease testing service providers have broadened their portfolio with a rising trend of seq-based genetic tests. For instance, ARUP Laboratories announced the release of new coronavirus tests in March 2022, and IDbyDNA, Inc. partnered with another firm to introduce new coronavirus tests, an NGS test for respiratory illnesses, to aid physicians in evaluating patients with pneumonia and some other respiratory problems.

With the rising trend of high throughput sequencing within the pharma and biotech industry, there is a need for more developments to improve the speed and convenience of high throughput seq-platforms and simplify workflows. As a result, companies are focusing on the development of solutions to simplify the amplification and purification of samples and starting input. In March 2022, Illumina, Inc. announced the release of TruSigh Oncology (TSO) Comprehensive (EU), a comprehensive diagnostic that evaluates several tumor genes and indicators to identify a patient's cancer's individual molecular profile. The in vitro diagnostic (IVD) kit would assist in influencing genomic decisions for patients with cancer across Europe, with its global debut taking place first in Europe.

Report Scope of the Next-Generation Sequencing Services Market

Service Type Insights

Human genome sequencing held the largest revenue share of over 31.0% in 2022. It is the most widely offered and practiced segment. The presence of a substantial number of key players in this segment is contributing to the segment's growth. Companies operating in this segment include BGI-Complete Genomics, Veritas Genetics, Macrogen, Full genomes.com, Novogene, SureGenomics, Partners LMM, Genos, BGI, 14 labs, Gene-by-Gene, and Personalis.

Gene regulation services are estimated to exhibit a lucrative CAGR during the forecast period. It covers small RNA sequencing, ChIP sequencing, lncRNA seq, isoform sequencing, and bisulfite sequencing. Various advantages offered by RNA sequencing have enabled the replacement of microarrays in many applications. It is expected that the application of RNA-seq will continue to expand over the coming years, thus driving the segment at a rapid pace.

Workflow Insights

The sequencing segment accounted for the largest revenue share of over 51.9% in 2022 owing to the high cost of instruments. Companies have been offering a broad portfolio for a wide spectrum of sample types. For example, Novogene Corporation conducts sequencing and generates publication-ready data for the success of research programs of customers from various domains such as agricultural, biomedical, and environmental science.

NGS services offered in the market include various aspects of sequencing, ranging from consultation to final result derivation. Some companies offer thorough protocol while others are engaged in offering standalone services to customers that have a lab equipped with NGS facilities but seek to outsource some portions of NGS workflow.

Analysis of NGS data poses great challenges for researchers engaged in conducting sequencing protocols for their projects. This is because a systematic and intelligent methodology is required for efficient processing and interpretation of data. As there is an increase in the number of sequenced reads per run, the subsequent growth in demand for robust data management solutions is projected.

End-use Insights

Universities and other research entities held the largest revenue share of over 51.0% in 2022 owing to the fact that NGS is primarily being used for research purposes. Research entities are utilizing sequencing services to improve the outcomes of their projects and gain in-depth insights into the mechanism of disease occurrence.

However, with the rising trend of clinical NGS, hospitals, and clinics are projected to witness the fastest growth over the forecast period. This trend in clinical settings is marked by the growing implementation of NGS technology for the detection of fetal aneuploidies through analyzing fetal cfDNA obtained from a single maternal blood draw in prenatal diagnostic procedures.

In addition to this, the liquid biopsy NGS panel is receiving great attention among healthcare entities, including clinics and hospitals, for cancer management. The definition of a proper regulatory framework for the use of NGS in clinical settings is expected to support the projected growth.

Regional Insights

North America accounted for the largest revenue share of over 46.0% in 2022 owing to factors such as a well-established informatics network, effective regulatory guidelines pertaining to approval and usage of genetic tests, and the presence of market leaders in the region. In addition, the growing number of FDA-approved genomic tests in the U.S. is anticipated to drive the regional market throughout the forecast period.

The Asia Pacific market is expected to serve as a lucrative source of revenue over the forecast period. The growing attention of government bodies toward the maintenance of public health and consequent investments in the development of advanced diagnostic approaches are anticipated to spur the uptake of seq-services in the region.

Furthermore, domestic players in Asian countries are involved in forming mutually beneficial partnerships among each other as well as with global companies for the establishment of NGS service providers. For instance, in November 2022, Novogene stated during the 44th Annual Gathering of Molecular Biological Society of Japan (MSBJ) in Japan that they will be launching single-cell sequencing services specifically for their Japanese customers. Novogene Japan K.K. will provide on-site service to assist clients in optimizing their single-cell planning with this new service. It gives researchers the freedom to enjoy a dependable and seamless end-to-end sequencing solution for their single-cell research, starting with research design projects, cell barcoding, library creation, sequencing, and bioinformatic analysis.

Some of the prominent players in the Next-Generation Sequencing Services Market include:

• Illumina, Inc.
• Veritas Genetics
• BGI
• GENEWIZ Germany GmbH
• ABM Inc.
• ARUP Laboratories
• Novogene Corporation
• Lucigen
• Quest Diagnostics
• Gene by Gene 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Next-Generation Sequencing Services market.

• Service Type

• Human Genome Sequencing
• Single Cell Sequencing
• Microbial Genome-based Sequencing
• Gene Regulation Services

• Small RNA Sequencing
• ChIP Sequencing
• Other Gene Regulation-based Services
• Animal & Plant Sequencing
• Other Sequencing Services
• Workflow
• Pre-sequencing
• Sequencing
• Data Analysis
• End-use
• Universities & Other Research Entities
• Hospitals & Clinics
• Pharma & Biotech Entities
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Next-Generation Sequencing Services industry analysis from 2023 to 2032 to identify the prevailing Next-Generation Sequencing Services industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Next-Generation Sequencing Services industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Next-Generation Sequencing Services industry trends, key players, market segments, application areas, and market growth strategies.