Next Generation Sequencing Kits Market: Projected Growth and Opportunities in 2028

According to TechSci Research report, “Next Generation Sequencing Kits Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, global Next Generation Sequencing (NGS) Kits market is anticipated to grow at an impressive rate during the forecast period, 2024-2028. This can be ascribed to the growing prevalence of infectious diseases and genetic disorders cases across the globe. Additionally, the growing exponential rise in next-generation sequencing demand for reducing the cost of genome sequencing is also expected to boost the growth of the market during the forecast period. Also, the growing research funding in the genome sciences is expected to further enhance the demand for the NGS kits market during the forecast period.

Besides, the growing application of NGS kits in precision medicine and molecular diagnostics is a major factor that is expected to drive the growth of the market over the forecast period. Similarly, the growth in business and corporate strategy is expected to create significant growth during the forecast period. Moreover, increasing funding and favorable policies offered by the government of different countries is expected to further boost the growth of the market during the forecast period. Similarly, growing applications in clinical diagnosis for early detection of diseases is expected to further boost the growth of the market during the forecast period.

However, a lack of skilled professionals for managing the NGS technology may slow down the growth of the global Next Generation Sequencing Kits market in the forecast period. Moreover, legal and ethical interpretation of complex data along with the high cost of reagents can further restrict the growth of the global Next Generation Sequencing Kits market. Similarly, the lack of infrastructure in emerging countries can further restrict the growth of the Next Generation Sequencing Kits market during the forecast period.

Next Generation Sequencing Kits market can be segmented on the basis of workflow, sequencing type, usage area, application, end user, and region.

On the basis of application, the global Next Generation Sequencing Kits market can be segmented into Oncology, Rare Diseases, Genetic Disorders, Reproductive Health, and Others. The oncology segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the growing number of companies manufacturing NGS kits for cancer. Moreover, the growing demand for non-invasive pregnancy kits is also expected to boost the growth of the market during the forecast period.

Based on end users, the market can be segmented into academic and research institutions, pharmaceutical and biotechnology companies, clinical and diagnostic laboratories, and others. The Academic and Research institutions segment is expected to dominate during the forecast period on account of the growing number of partnerships between NGS market players and academic research institutes for the development of the diagnosis of chronic diseases such as cancers, Alzheimer’s diseases, and cardiovascular diseases across the globe.

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Major companies operating in the Global Next Generation Sequencing Kits market are: 

• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• BGI Group
• Creative Biogene.
• Danaher
• F. Hoffmann-La Roche Ltd
• Hologic, Inc.
• Illumina, Inc.
• Oxford Nanopore Technologies plc.
• Pacific Biosciences of California, Inc.
• PerkinElmer Inc.

For instance, in January 2020, the Centers for Medicare & Medicaid Services (CMS) implemented the action for including the USFDA approved or cleared laboratory diagnostic tests using next-generation sequencing (NGS) for patients with germline (inherited) ovarian or breast cancer.

In September 2020, The Oncomine Dx Target Test, an NGS-based companion diagnostic (CDx) test to identify RET fusion-positive, metastatic non-small cell lung cancer (NSCLC) patients receiving GAVRETO (pralsetinib), a targeted therapy developed by Blueprint Medicines, received premarket approval from the US FDA.

In January 2019, PierianDx established cooperation with Illumina to develop informatics services, such as oncology products, to help Illumina with a cancer diagnosis and research.

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“North America is expected to dominate the Global Next Generation Sequencing Kits market owing to the growing number of major market players along with growing adoption of NGS in research, diagnostic labs, and synthetic biology research across the region. Similarly, the growing prevalence of infectious diseases, genetic disorders, and chronic diseases such as cancer and the development of novel library preparation kits for early detection of diseases is expected to create significant growth during the forecast period. Moreover, growing applications in drug discovery and replacing old technology such as microarrays will further drive market growth over the years. Furthermore, a growing number of clinical trials for developing novel vaccines with whole genome sequencing is required which will further drive the growth of the market. Besides, the growing adoption of advanced NGS technology by government and non-government bodies are further expected to create lucrative opportunities for market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Next Generation Sequencing Kits Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Workflow (Library Preparation, Cluster Generation, Sequencing Reagents Kits), By Sequencing Type (WES and WGS, Targeted Sequencing, Long Read Sequencing, Other Sequencing), By Usage Area (Clinical, Research), By Application (Oncology, Rare Diseases, Genetic Disorders, Reproductive Health, Others), By End User (Academic and Research Institutions, Pharmaceutical and Biotechnology Companies, Clinical and Diagnostic Laboratories, Others) and By Region”, has evaluated the future growth potential of global Next Generation Sequencing Kits market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Next Generation Sequencing Kits market.

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