The Next Generation Sequencing Market to grow at a CAGR of 12.45% from 2022 to 2027|10X Genomics Inc., Azenta Inc., BGI Genomics Co. Ltd., Bio Rad Laboratories Inc.and more among the key companies in the market – Technavio

NEW YORK, Oct. 31, 2023 /PRNewswire/ — The next-generation sequencing market size is forecast to increase by USD 3,409.76 million from 2022 to 2027, at a CAGR of 12.45%, according to the recent market study by Technavio. The growth of the market will be driven by the Increased utilization of NGS methods, Growing demand for early diagnosis of genetic disorders, and Availability of a wide range of NGS products. Technavio has extensively analyzed 15 major vendors, including 10X Genomics Inc., Azenta Inc., BGI Genomics Co. Ltd., Bio Rad Laboratories Inc., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Illumina Inc., Konica Minolta Inc., Laboratory Corp. of America Holdings, Merck KGaA, Nabsys Inc., OPKO Health Inc., Oxford Nanopore Technologies plc, Perkin Elmer Inc., PierianDx Inc., Psomagen Inc., QIAGEN NV, Standard BioTools Inc., Takara Bio Inc., and Thermo Fisher Scientific Inc. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Next Generation Sequencing Market – Segmentation Assessment

The market is segmented by end-user (academic research, clinical research, pharma & biotech companies, and others), product (consumables and equipment), and geography (North America, Europe, Asia, and the Rest of the World (ROW))

• The market share growth by the academic research segment will be significant during the forecast period. Academic research institutions come under the end-users segment and it includes universities and research institutions, which are major users of NGS technologies for various applications. Furthermore, various tasks such as basic research, drug discovery, personalized medicine, and clinical diagnostics are done by academic researchers using NGS technology. The declining cost of sequencing, the availability of easy-to-use software and analytical tools, and the growing demand for personalized and precision medicine are some of the key factors driving the adoption of NGS technology in segment growth. Hence, these factors are expected to drive market growth during the forecast period.

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Next Generation Sequencing Market – Market Dynamics

Key Drivers

• The increased utilization of NGS methods is a key factor driving market growth.
• This growth is due to the various benefits it offers, such as reduction of cost in the performance of sequential studies, providing high processing speed, and can generate a vast number of sequences with many applications in research.
• Furthermore, many vendors are offering reliable genetic testing services and products using NGS in the market.
• The rising popularity of NGS techniques to detect viral genome sequencing, which includes sequencing of new influenza viruses, detection of viral genome variability, and monitoring of low-abundance antiviral drug-resistance mutations, is increasing the demand.
• Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

• The reduced costs of gene sequencing are major trends in the market.
• This is due to the advances in gene sequencing techniques which also reduce the time taken for the testing procedures.
• As a result, the vendors can provide access to more people with limited budgets and overcome the challenge of unaffordable prices.
• Furthermore, there are considerable improvements in accuracy due to the adoption of NGS and fluorescence-based fully automated sequencing technologies.
• Hence, the affordable prices of these services is expected to boost the growth of the market during the forecast period.

Significant Challenges

• The lack of clinical validation on direct-to-consumer genetic tests is a key factor restricting the market growth.
• There have been rising questions about the clinical validity of genetic tests sold directly to consumers, which impacts the commercialization of pre-disposition tests.
• Furthermore, it is very difficult for consumers to interpret the structural variation in their genes due to the complexity of the results.
• These tests have limited accuracy and can often generate false-positive or false-negative results, which harms the mental health of the patients.
• Hence, the above-mentioned factors are expected to restrict the growth of the market during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Next Generation Sequencing Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the next-generation sequencing market between 2023 and 2027
• Precise estimation of the size of the next-generation sequencing market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the next-generation sequencing market across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of next-generation sequencing market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global next generation sequencing market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global next generation sequencing market 2017 – 2021 (USD million)

• 4.2 End-user Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 (USD million)

• 4.3 Product Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Academic research – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Academic research – Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on Academic research – Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on Academic research – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Academic research – Year-over-year growth 2022-2027 (%)

• 6.4 Clinical research – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Clinical research – Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on Clinical research – Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on Clinical research – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Clinical research – Year-over-year growth 2022-2027 (%)

• 6.5 Pharmaceutical and biotechnology companies – Market size and forecast 2022-2027
• Exhibit 42: Chart on Pharmaceutical and biotechnology companies – Market size and forecast 2022-2027 (USD million)
• Exhibit 43: Data Table on Pharmaceutical and biotechnology companies – Market size and forecast 2022-2027 (USD million)
• Exhibit 44: Chart on Pharmaceutical and biotechnology companies – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Pharmaceutical and biotechnology companies – Year-over-year growth 2022-2027 (%)

• 6.6 Others – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others – Market size and forecast 2022-2027 (USD million)
• Exhibit 47: Data Table on Others – Market size and forecast 2022-2027 (USD million)
• Exhibit 48: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 50: Market opportunity by End-user (USD million)
• Exhibit 51: Data Table on Market opportunity by End-user (USD million)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 52: Chart on Product – Market share 2022-2027 (%)
• Exhibit 53: Data Table on Product – Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 54: Chart on Comparison by Product
• Exhibit 55: Data Table on Comparison by Product

• 7.3 Consumables – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Consumables – Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Consumables – Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Consumables – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Consumables – Year-over-year growth 2022-2027 (%)

• 7.4 Equipment – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Equipment – Market size and forecast 2022-2027 (USD million)
• Exhibit 61: Data Table on Equipment – Market size and forecast 2022-2027 (USD million)
• Exhibit 62: Chart on Equipment – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Equipment – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product 
• Exhibit 64: Market opportunity by Product (USD million)
• Exhibit 65: Data Table on Market opportunity by Product (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America – Market size and forecast 2022-2027 (USD million)
• Exhibit 72: Data Table on North America – Market size and forecast 2022-2027 (USD million)
• Exhibit 73: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe – Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on Europe – Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 Asia – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Asia – Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on Asia – Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on Asia – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Asia – Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Rest of World (ROW) – Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on Rest of World (ROW) – Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on Rest of World (ROW) – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Rest of World (ROW) – Year-over-year growth 2022-2027 (%)

• 9.7 US – Market size and forecast 2022-2027 
• Exhibit 87: Chart on US – Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on US – Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.8 Germany – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.9 Canada – Market size and forecast 2022-2027 
• Exhibit 95: Chart on Canada – Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on Canada – Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.10 China – Market size and forecast 2022-2027 
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.11 UK – Market size and forecast 2022-2027 
• Exhibit 103: Chart on UK – Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography (USD million)
• Exhibit 108: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 10X Genomics Inc.
• Exhibit 115: 10X Genomics Inc. – Overview
• Exhibit 116: 10X Genomics Inc. – Product / Service
• Exhibit 117: 10X Genomics Inc. – Key offerings

• 12.4 Azenta Inc.
• Exhibit 118: Azenta Inc. – Overview
• Exhibit 119: Azenta Inc. – Business segments
• Exhibit 120: Azenta Inc. – Key offerings
• Exhibit 121: Azenta Inc. – Segment focus

• 12.5 BGI Genomics Co. Ltd.
• Exhibit 122: BGI Genomics Co. Ltd. – Overview
• Exhibit 123: BGI Genomics Co. Ltd. – Product / Service
• Exhibit 124: BGI Genomics Co. Ltd. – Key offerings

• 12.6 Bio Rad Laboratories Inc. 
• Exhibit 125: Bio Rad Laboratories Inc. – Overview
• Exhibit 126: Bio Rad Laboratories Inc. – Business segments
• Exhibit 127: Bio Rad Laboratories Inc. – Key news
• Exhibit 128: Bio Rad Laboratories Inc. – Key offerings
• Exhibit 129: Bio Rad Laboratories Inc. – Segment focus

• 12.7 Eurofins Scientific SE 
• Exhibit 130: Eurofins Scientific SE – Overview
• Exhibit 131: Eurofins Scientific SE – Business segments
• Exhibit 132: Eurofins Scientific SE – Key news
• Exhibit 133: Eurofins Scientific SE – Key offerings
• Exhibit 134: Eurofins Scientific SE – Segment focus

• 12.8 F. Hoffmann La Roche Ltd. 
• Exhibit 135: F. Hoffmann La Roche Ltd. – Overview
• Exhibit 136: F. Hoffmann La Roche Ltd. – Business segments
• Exhibit 137: F. Hoffmann La Roche Ltd. – Key news
• Exhibit 138: F. Hoffmann La Roche Ltd. – Key offerings
• Exhibit 139: F. Hoffmann La Roche Ltd. – Segment focus

• 12.9 Illumina Inc.
• Exhibit 140: Illumina Inc. – Overview
• Exhibit 141: Illumina Inc. – Business segments
• Exhibit 142: Illumina Inc. – Key news
• Exhibit 143: Illumina Inc. – Key offerings
• Exhibit 144: Illumina Inc. – Segment focus

• 12.10 Konica Minolta Inc.
• Exhibit 145: Konica Minolta Inc. – Overview
• Exhibit 146: Konica Minolta Inc. – Business segments
• Exhibit 147: Konica Minolta Inc. – Key news
• Exhibit 148: Konica Minolta Inc. – Key offerings
• Exhibit 149: Konica Minolta Inc. – Segment focus

• 12.11 Laboratory Corp. of America Holdings 
• Exhibit 150: Laboratory Corp. of America Holdings – Overview
• Exhibit 151: Laboratory Corp. of America Holdings – Business segments
• Exhibit 152: Laboratory Corp. of America Holdings – Key news
• Exhibit 153: Laboratory Corp. of America Holdings – Key offerings
• Exhibit 154: Laboratory Corp. of America Holdings – Segment focus

• 12.12 Merck KGaA
• Exhibit 155: Merck KGaA – Overview
• Exhibit 156: Merck KGaA – Business segments
• Exhibit 157: Merck KGaA – Key news
• Exhibit 158: Merck KGaA – Key offerings
• Exhibit 159: Merck KGaA – Segment focus

• 12.13 Perkin Elmer Inc.
• Exhibit 160: Perkin Elmer Inc. – Overview
• Exhibit 161: Perkin Elmer Inc. – Business segments
• Exhibit 162: Perkin Elmer Inc. – Key news
• Exhibit 163: Perkin Elmer Inc. – Key offerings
• Exhibit 164: Perkin Elmer Inc. – Segment focus

• 12.14 QIAGEN NV
• Exhibit 165: QIAGEN NV – Overview
• Exhibit 166: QIAGEN NV – Product / Service
• Exhibit 167: QIAGEN NV – Key news
• Exhibit 168: QIAGEN NV – Key offerings

• 12.15 Standard BioTools Inc. 
• Exhibit 169: Standard BioTools Inc. – Overview
• Exhibit 170: Standard BioTools Inc. – Product / Service
• Exhibit 171: Standard BioTools Inc. – Key news
• Exhibit 172: Standard BioTools Inc. – Key offerings

• 12.16 Takara Bio Inc.
• Exhibit 173: Takara Bio Inc. – Overview
• Exhibit 174: Takara Bio Inc. – Business segments
• Exhibit 175: Takara Bio Inc. – Key offerings
• Exhibit 176: Takara Bio Inc. – Segment focus

• 12.17 Thermo Fisher Scientific Inc. 
• Exhibit 177: Thermo Fisher Scientific Inc. – Overview
• Exhibit 178: Thermo Fisher Scientific Inc. – Business segments
• Exhibit 179: Thermo Fisher Scientific Inc. – Key news
• Exhibit 180: Thermo Fisher Scientific Inc. – Key offerings
• Exhibit 181: Thermo Fisher Scientific Inc. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 182: Inclusions checklist
• Exhibit 183: Exclusions checklist

• 13.3 Currency conversion rates for USUSD 
• Exhibit 184: Currency conversion rates for USUSD

• 13.4 Research methodology
• Exhibit 185: Research methodology
• Exhibit 186: Validation techniques employed for market sizing
• Exhibit 187: Information sources

• 13.5 List of abbreviations
• Exhibit 188: List of abbreviations

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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