Is Consumables Gaining the Largest Share in the Next Generation Sequencing Market?

25 June 2021

The rising incidence of cancer among the population is driving the demand for next generation sequencing. With pharma and biotechnological companies displaying a keen interest in genome sequencing, vendors are providing innovative portfolios of NGS systems, products, and services. Cancer sequencing using NGS methods provides more information in less time compared to traditional single-gene and array-based approaches, creating a high demand for genome sequencing. Consumables in the next generation sequencing to witness the highest absolute growth of around 86% by 2026. End-users can select the specific genome sequencing kits to create their own custom array to investigate millions of genetic markers. The consumables segment is growing at a faster rate compared to the instruments/analyzers segment owing to their frequent usage in performing a wide range of sequencing-based studies and diagnostics in the global market. High innovations and the introduction of sequencing technologies are likely to drive the application of next generation sequencing devices.

The genome sequencing market is highly competitive owing to the innovations in technology and is one of the major factors driving the competition among the players. Several companies are developing or commercializing products, expanding their manufacturing facilities, and partnering with others in the market. Global players are focusing on investing in R&D activities to enhance their product portfolio. Some of the major players such as Illumina, Thermo Fischer Scientific, Oxford Nanopore technology, Pacific Biosciences, F. Hoffmann-La Roche, and BGI are accounting for significant share in the global next generation sequencing market. Illumina became one of the largest gene sequencing companies during the 2006 to 2012 period. After that, the company recorded impressive revenues and expanded its presence in genome sequencing with innovative genome sequencing platforms and related consumables.

Read: Genome Sequencing Market Global Outlook and Forecast 2021-2026

Introduction of Portable Next Generation Sequencing in the Global Market

The mobile genetic labs are changing the workflow of the field researchers. Portable sequencing is making it possible for biologists to perform DNA analysis anywhere in the world. The Oxford Nanopore Technologies introduced the MinION sequencer, which is smaller than a smartphone and can perform DNA sequencing in real-time across the globe. The emergence of various pandemic and epidemic are fueling the demand for genome sequencing market across the globe. Adventurous scientist such as Ineke Knot, a researcher at the University of Amsterdam, is using portable genome sequencing devices in remote locations across the world, working in Indonesia to protect great apes from human infections. As genome sequencing devices became popular among the scientist, several players are focusing on improving its applications.  The rising demand for genome sequencing is eventually boosting the number of genome sequencing service providers. Over the years, NGS workstations have developed, optimized NGS processes and protocols to ensure the best possible scientific outcome for research. These service providers offer highly advanced NGS technology and have the largest sequencing capacity.

Which Region to Witness High Revenue in the Global Next Generation Sequencing Market?

The advancement in healthcare and rising awareness among the people is surging the demand for genome sequencing in North America. The patient’s interest in personal genomic sequencing for future personalized treatments, lifestyle, nutritional study, and another genomics study is significantly increasing. North America is the largest market for genome sequencing market and is leading the way for other counties to increase the application of these devices. The region also has highly advanced genomic labs and genomic research centers, which are involved in conducting large-scale research projects as per the market demand. The next generation sequencing market in US is expected to reach revenue of over USD 2 billion by 2026. Canadas genome sequencing infrastructure is still developing. However, with the increasing number of cancer patients, opting for personalized cell therapy, and gene therapy treatments the demand for next generation sequencing is projected to increase in the country during the forecast period.

Multiple hospitals, clinical research institutes, and pharma and biotech companies are involved in providing treatments and diagnostics based on genome sequencing in Europe. The increased awareness among European patients drives the application of personal genome sequencing testing, especially for reproductive health. More than 29 cell and gene therapy companies are present in Germany, this indicates the potential for the large genome sequencing-based technologies, driving the demand for genome sequencing devices in the market.

Read: Europe Cell and Gene Therapy Market Industry Outlook and Forecast 2021-2026

FAQs about the Global Next Generation Sequencing Market:

Q. What is the market size of the next generation sequencing?

A. The global next generation sequencing market size is valued at over USD 5 billion by 2026.

Q. What is the market growth of the next generation sequencing?

A. The global next generation sequencing market is projected to grow at a CAGR of over 9% during the forecast period.

Q. What is the market segmentation of genome sequencing?

A. The global next generation sequencing market is segmented by product, application, end-user, and geography.

Q. What is the market insight of genome sequencing?

A. The revenue contribution from academic and research institutes is likely to cross over USD 16 billion by 2026.

Q. What are the major regions in the global next generation sequencing market?

A. The major regions in the global genome sequencing market includes APAC, North America, Europe, Latin America, and Middle East & Africa.

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