The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global next-generation sequencing (NGS) services market size is expected to reach USD 2.87 billion by 2025 at a 13.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Development of NGS technologies has revolutionized gene sequencing in terms of reproducibility and cost savings.
This has resulted in 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 usage of seq-technology and making it more sophisticated. These factors have driven the uptake of NGS services across various end users.
Download Free Sample Pages of this report
Conventional disease testing service providers have broadened their portfolio with a rising trend of seq-based genetic tests. For example, in October 2014, ARUP Laboratories collaborated with the Children’s Hospital of Philadelphia (CHOP). The service provision for NGS-based HLA genotyping, including HLA Class II and HLA Class I, began in November 2017.
With 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 development of solutions to simplify the amplification and purification of sample and starting input.
In July 2017, Norgen released the new Small RNA Library Prep Kit for Illumina. This kit is being developed to generate small RNA libraries and is optimized for samples with low input RNA (0.5-1ng), such as urine, serum, plasma, cerebral spinal fluid (CSF), blood, and exosomes.
Further key findings from the report suggest:
- Human genome sequencing services held the largest revenue share owing to greater penetration of whole genome and whole exome sequencing
- Gene regulation services, particularly small RNA sequencing and ChIP-seq, is anticipated to grow at a lucrative pace during the forecast period. Rising investment in RNA sequencing is driving the growth of gene regulation services
- Increase in installation of sequencing platforms is attributive to the larger revenue share of sequencing services as compared to other workflow steps. High maintenance and recovery costs of this step have also resulted in greater revenue generation
- Universities and other research entities have emerged as prominent end users owing to 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 by revenue in 2017, owing to higher penetration of the technology in this region and availability of funds to employ the technique and derive research findings for disease targeting
- Various prominent players in this market include Illumina, Inc.; Eurofins Genomics; BGI; and GENEWIZ Germany GmbH. 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.