Next-generation sequencing (NGS) market is set to witness substantial growth through 2032 owing to the increasing use of the technology for diverse pharmaceutical & biopharmaceutical applications.
Developed economies worldwide with state-of-the-art biotech solutions are using NGS for drug discovery and development. The emergence of novel diseases and the high prevalence of terminal illnesses with no promising cure have fueled the need for advanced therapies. For instance, NGS has emerged as a pivotal tool in clinical oncology and cancer diagnostics. It helps detect variants at an ultra-sensitive and precise level, offering groundbreaking cancer diagnosis and care.
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Retinoblastoma (RB), and lung cancer diagnosis are some of the prominent areas where NGS has gained momentum. As per the American Cancer Society's 2023 estimates, the U.S. is projected to have more than 238,300 new cases of lung cancer and mortality of over 127,000 deaths. Leading biotech and pharma companies are accelerating innovation and development in the field of cancer diagnostics therapeutics with the help of NGS.
For instance, in January 2023, Thermo Fisher Scientific announced a partnership with AstraZeneca to design a solid tissue & blood-based companion diagnostic (CDx) test for Tagrisso, a targeted cancer drug used to treat patients with non-small cell lung cancer. The duo will use a fully-integrated NGS platform, Genexus Dx System to access the Oncomine Dx Express Test, featuring smart specimen-to-report workflow offering test results within 24 hours. As a result, a growing collaboration between industry players and new product launches will augment market growth.
In terms of product, the industry is classified into services, instruments, consumables, and others. Among these, the services segment will grow at over 18% CAGR between 2023 and 2032 led by the availability of a wide variety of NGS services. Recent breakthroughs in oligo synthesis services, whole genome sequencing, metagenomics solutions, cancer analysis services, RNA sequencing, and others are enabling access to novel NGS services.
Based on type, the market is segmented into targeted sequencing, whole genome sequencing (WGS), exome sequencing, and others. Targeted sequencing is set to witness an upsurge in demand over the forecast years due to its ability to measure a patient's gene pool precisely. The growing popularity of personalized therapeutics in the treatment of life-threatening diseases is further driving the use of targeted sequencing to study an individual's genetic makeup.
With regard to end-use, the industry is classified into pharmaceutical & biotech, academic institutes & research centers, and hospitals & clinics. NGS market size from pharmaceutical & biotechnology companies was USD 1 billion in 2022. The increasing pressure on pharma companies to develop highly advanced therapeutics to tackle complex disorders will fuel the adoption of NGS technologies. Biotech firms worldwide are using NGS to produce biological goods and novel pharmaceuticals.
From a regional frame of reference, the Asia Pacific NGS market size will exceed USD 10 billion by 2032 due to the rise in healthcare infrastructure development across India, and China. Additionally, promising cost of genome sequencing, technological breakthroughs in WGS, and the increasing number of R&D facilities and research centers in APAC will propel industry growth.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definitions
1.3 Base estimates & working
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Next generation sequencing industry 3600 synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Product type trends
2.1.3 Application trends
2.1.4 Type trends
2.1.5 Technology trends
2.1.6 End-use trends
2.1.7 Regional trends
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