Next-generation Sequencing (NGS) Market is Expected to Gain Popularity Across the Globe by 2026

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The term “NGS” refers to a set of technologies that utilize massively parallel sequencing to produce millions of short read sequences more quickly and with a significantly higher throughput.

The Global Next-generation Sequencing (NGS) Market valued at $6.3 billion (2021) is set to witness a significant growth rate of 16% in the next 5 years. Some of the key factors driving the global next-generation sequencing (NGS) market include the quick advancements in sequencing platforms, increasing applications of NGS, rising demand for NGS services, development of advanced bioinformatics tools, high investments in R&D, and growing incidence of cancer and infectious diseases.

Technological developments in sequencing platforms to fuels the Next-generation Sequencing (NGS) Market Demand
Continuous developments in sequencing technology have enabled to develop efficient, portable, and easy-to-use NGS sequencers to deliver rapid and precise results while also reducing turnaround times. Such advancements tend to provide competitive edge to manufacturers and therefore, major players are constantly focusing on investing in research activities for the creation of new products to strengthen their positions in this high growth market.

Here is a list of a few technological developments:

In March 2022, Element Biosciences Inc. launched its benchtop sequencer – Element AVITI System, that offers combination of performance, cost, and flexibility in an unprecedented way. This system consists of a benchtop NGS instrument and related consumables

In December 2021, Singular Genomics Systems, Inc. commercially launched its G4 platform, a powerful benchtop sequencer featuring a new high-performance chemistry with advanced engineering to give precision, flexibility, speed, and power for a wide range of applications, including cancer and immunology research

In December 2021, Roche launched its AVENIO Edge System, a next-generation platform to assist sequencing laboratories and researchers to reduce human error, further providing fast, precise, and reliable results

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Partnership and collaboration to increase the acceptance and research outcomes for diagnostic applications
The next-generation sequencing market has seen a number of partnerships and collaborations by market players to improve the adoption of this technology for clinical applications and co-develop advanced diagnostic solutions.

The following is a list of some of the strategic initiatives that boost the adoption of NGS for diagnostic applications:

In January 2022, Illumina entered into multi-year partnership with Agendia N.V., a precision oncology provider for breast cancer, to co-develop in vitro diagnostic (IVD) tests for oncology testing using NGS technology

In July 2021, Qiagen partnered with Sysmex for the development and marketing of cancer companion diagnostic (CDx) solutions, leveraging Sysmex’s Plasma-Safe-SeqS technology for NGS

In April 2021, Thermo Fisher Scientific collaborated with Mayo Clinic, a non-profit organisation to accelerate access to innovative diagnostic solutions for haematology, allergy, oncology, and autoimmunity diagnostics, leveraging NGS technology

In January 2021, Illumina announced precision oncology partnerships with Merck, Bristol Myers Squibb, Myriad Genetics, and Kura Oncology for advancements in comprehensive genomic profiling using TruSight Oncology product portfolio

In August 2020, Oxford Nanopore Technologies entered into an agreement with the UK’s Department of Health and Social Care, to roll out its LamPORE SARS-CoV-2 tests across NHS testing laboratories

Competitive Landscape Analysis of Next-generation Sequencing (NGS) Market
The global next-generation sequencing (NGS) market is marked by the presence of key players such as Illumina (US), Thermo Fisher Scientific (US), Pacific Biosciences (US), Oxford Nanopore Technologies (UK), Hoffmann-La Roche AG (Switzerland), QIAGEN (Germany), and others.

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Ruta Halde
Associate, Medi-Tech Insights
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