Reports > Life Sciences > Next Generation Sequencing Services Market Report
Next Generation Sequencing Services Market Size, Share, Industry Trends and Forecast to 2033
This report offers a comprehensive analysis of the Next Generation Sequencing Services market, exploring trends, size, growth forecasts, and competitive landscapes from 2023 to 2033.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $10.00 Billion |
| CAGR (2023-2033) | 9% |
| 2033 Market Size | $24.37 Billion |
| Top Companies | Illumina, Inc., Thermo Fisher Scientific Inc., PacBio, Oxford Nanopore Technologies Ltd. |
| Last Modified Date | 15 Nov 2024 |
Next Generation Sequencing Services Market Report (2023 - 2033)
Next Generation Sequencing Services Market Overview
What is the Market Size & CAGR of Next Generation Sequencing Services market in 2023?
Next Generation Sequencing Services Industry Analysis
Next Generation Sequencing Services Market Segmentation and Scope
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Next Generation Sequencing Services Market Analysis Report by Region
Europe Next Generation Sequencing Services Market Report:
In Europe, the market is expected to scale from $3.13 billion in 2023 to $7.64 billion by 2033. Factors such as collaborative research initiatives, supportive regulatory frameworks, and advancements in sequencing technologies contribute to market expansion.Asia Pacific Next Generation Sequencing Services Market Report:
The Asia Pacific region is anticipated to witness significant growth, with the market size reaching approximately $1.91 billion in 2023 and projected to grow to $4.67 billion by 2033. Increased funding for genomic research, advancements in healthcare infrastructure, and a rising prevalence of genetic disorders are driving the demand for NGS services in this region.North America Next Generation Sequencing Services Market Report:
The North American market is the largest for NGS services, valued at approximately $3.42 billion in 2023 and projected to grow to $8.34 billion by 2033. Key drivers include technological advancements, high investment in genomics research, and a strong demand for NGS in clinical diagnostics.South America Next Generation Sequencing Services Market Report:
In South America, the NGS services market is expected to grow from $0.51 billion in 2023 to $1.25 billion by 2033. Growing interest in genomics research and the development of personalized medicine initiatives are key factors fueling this growth.Middle East & Africa Next Generation Sequencing Services Market Report:
The Middle East and Africa market for NGS services is projected to grow from $1.02 billion in 2023 to $2.48 billion by 2033. Increasing investments in healthcare technology and research facilities are pivotal in shaping market trends in this region.Request a custom research report for industry.
Next Generation Sequencing Services Market Analysis By Technology
Global Next-Generation Sequencing Services Market, By Technology Market Analysis (2023 - 2033)
Market analysis by technology reveals that Illumina Sequencing dominates the segment with a market share of 53.22% in 2023, growing from $5.32 billion to approximately $12.97 billion by 2033. Ion Torrent contributes to 22.86% market share, growing from $2.29 billion to $5.57 billion. Other technologies such as PacBio and Oxford Nanopore Technologies are also gaining traction due to their unique advantages in specific research areas.
Next Generation Sequencing Services Market Analysis By Application
Global Next-Generation Sequencing Services Market, By Application Market Analysis (2023 - 2033)
In the application segment, Genomic Research holds a significant market share of 45.71% in 2023, projected to increase from $4.57 billion to $11.14 billion by 2033. Oncology applications follow closely with a share of 23.1%, growing from $2.31 billion to $5.63 billion. Infectious diseases and pharmacogenomics are also crucial segments, witnessing notable growth as personalized medicine continues to evolve.
Next Generation Sequencing Services Market Analysis By Service Type
Global Next-Generation Sequencing Services Market, By Service Type Market Analysis (2023 - 2033)
The service type segment is primarily led by Sequencing Services which accounts for 62.64% market share, projected to rise from $6.26 billion in 2023 to $15.26 billion by 2033. Following this, Data Analysis Services and Consultation Services are also significant, with shares of 24.86% and 12.5% respectively, highlighting the importance of integrated service offerings in the NGS market.
Next Generation Sequencing Services Market Analysis By End User
Global Next-Generation Sequencing Services Market, By End-User Market Analysis (2023 - 2033)
Key end-users of NGS services include Academic Research Institutes which comprise 45.71% at a market size of $4.57 billion, promising growth to $11.14 billion by 2033. Pharmaceutical Companies play an essential role too, accounting for 23.1% of the market share. Clinical Laboratories and Biotechnology Firms are critical end-users contributing to the market's development.
Next Generation Sequencing Services Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Next Generation Sequencing Services Industry
Illumina, Inc.:
Illumina is a leading developer, manufacturer, and marketer of life sciences tools and integrated systems for the analysis of genetic variation and function. Its sequencing technology is widely used in genomic research and clinical applications worldwide.Thermo Fisher Scientific Inc.:
Thermo Fisher provides innovative sequencing solutions that enable researchers and clinical laboratories to harness the power of genomics to advance the understanding of disease and improve patient care.PacBio:
Pacific Biosciences of California, Inc. (PacBio) is known for its SMRT sequencing technology that provides high accuracy and long reads, making significant contributions to genomic research, especially in complex genomic regions.Oxford Nanopore Technologies Ltd.:
Oxford Nanopore Technologies offers a disruptive technology that enables real-time, portable DNA sequencing. Their devices cater to users from academic researchers to field-based applications in clinical and environmental settings.We're grateful to work with incredible clients.
