The Global Next Generation Sequencing Market is projected to reach $32.38 billion by 2027, from a value of $8.68 billion in 2020, by registering a CAGR of 20.7% during the forecast period. The advancements made in next generation sequencing platforms like iSeq 100 System and Ion GeneStudio S5, rapid evolution of portable sequencing technologies, rise in number of genome mapping programs, drop in prices of genome sequencing, enhancing regulatory and reimbursement scenario for next generation sequencing based diagnostic tests and rise in incidence of cancer and growing number of applications of next-generation sequencing in cancer research are the major factors propelling the growth of the market. However, budget constraints of end users in developing countries and introduction of alternative technologies in the market are hampering the market growth. Moreover, support for large-scale sequencing by the governments and private institutions, applications of next generation sequencing in precision medicine and molecular diagnostics, and next generation sequencing data analysis using big data are creating ample opportunities across the globe.
Recent Developments
In January 2021, BGI Group announced that it has received the CE mark approval for the Thalassemia Gene Detection Kit (Combinatorial Probe-Anchor Synthesis Sequencing Method), which can be used for the genetic diagnosis of, ?- thalassemia and other hemoglobinopathy or for general population carrier screening.
In July 2020, Thermo Fisher Scientific signed an agreement of companion diagnostic (CDx) type with Chugai Pharmaceutical Co., Ltd. to expand the use of the Oncomine Dx Target Test in Japan by applying to the Ministry of Health, Labour, and Welfare (MHLW).
In August 2020, Thermo Fisher Scientific launched their hematology-oncology assays for the Ion Torrent Genexus System, which enables simultaneous analysis of DNA mutations and RNA fusion transcripts in myeloid samples in a single day.
In September 2020, Thermo Fisher Scientific announced that they have received the US FDA premarket approval for the Oncomine Dx Target Test as 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.
In November 2019, Thermo Fisher Scientific launched the Ion Torrent Genexus System, the first fully integrated, next-generation sequencing (NGS) platform featuring an automated specimen-to-report workflow that delivers results economically in a single day.
In February 2019, Agilent Technologies, Inc., launched the Magnis NGS Prep System, a next generation sequencing library preparation system which is designed to run the complex sequencing assays in a press of a button.
In May 2020, Roche launched the KAPA Target Enrichment portfolio for target enrichment during sequencing and KAPA HyperExome whole-exome research panel.
Competitive Landscape
Agilent Technologies Inc., Beijing Genomics Institute, Bio matters Ltd., Bio-Rad Laboratories Inc., DNASTAR Inc., Eurofins Scientific, F. Hoffmann-La Roche AG, GATC Biotech AG., GenapSys Inc., 454 Life Sciences Corporation (Roche Holding AG), GENEWIZ, Genomatix GmbH, Illumina Inc., NuGEN Technologies Inc., Oxford Nanopore Technologies Limited, Qiagen N.V., Thermo Fisher Scientific Inc. are some of the major players in the global next generation sequencing market.
