The Latest Next Generation Sequencing Industry Statistics Explained
The global next-generation sequencing market size was valued at USD 13.82 billion in 2020.
The statistic “The global next-generation sequencing market size was valued at USD 13.82 billion in 2020” indicates the total monetary value of the next-generation sequencing industry worldwide in the year 2020. This figure represents the total revenue generated by companies involved in providing next-generation sequencing services, technologies, and products. The market size serves as a key indicator of the industry’s economic significance and growth potential. The USD 13.82 billion value reflects the increasing demand for next-generation sequencing technologies in various sectors such as healthcare, research, agriculture, and others, highlighting the importance of genomics and personalized medicine in today’s world.
The market is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028.
The statistic indicating that the market is projected to grow at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028 means that the market is expected to experience a consistent annual growth rate of 14.5% over the specified timeframe. This growth rate accounts for compounding, meaning that the base on which the growth is calculated increases each year due to the previous year’s growth. The CAGR provides a smooth representation of the market’s growth trajectory without being affected by short-term fluctuations. The forecast suggests a strong and sustained growth outlook for the market over the next seven years, indicating significant opportunities for businesses and investors operating within that market.
North America dominated the market with a share of 41.8% in 2020.
This statistic means that North America had the largest market share among all regions in 2020, accounting for 41.8% of the total market. This indicates that a significant portion of the market is controlled by businesses or entities operating in North America. The dominance of North America in the market suggests that it is a key player in the industry and likely sets trends, influences pricing, and drives innovation within the market. This information is valuable for stakeholders as it provides insights into market dynamics and competitive landscapes, helping them make informed decisions regarding investments, partnerships, and market strategies.
By 2028, the market for NGS-based diagnostics and screening is predicted to reach US$ 16.9 billion.
This statistic indicates a forecasted trend in the market size of Next-Generation Sequencing (NGS)-based diagnostics and screening technologies, suggesting a significant growth trajectory over the coming years. The projected market value of US$ 16.9 billion by 2028 points towards an increasing demand and adoption of NGS technologies in the healthcare sector for applications such as disease diagnosis, personalized medicine, and genetic screening. This growth may be attributed to advancements in sequencing technologies, decreasing costs, and the expanding scope of NGS applications across various medical fields. The predicted market value serves as a valuable indicator for stakeholders, investors, and researchers in understanding the emerging opportunities and the evolving landscape of genomic-based diagnostics.
Instruments segment led the market and accounted for more than 35.0% share of the global revenue in 2020.
The statistic indicates that in 2020, the instruments segment was the dominant sector in the market, contributing to over 35.0% of the total global revenue within that industry. This suggests that products such as equipment, tools, or devices used in a specific field were in high demand and generated significant revenues for businesses operating in this segment. The strong performance of the instruments segment highlights its importance and market leadership within the industry, showcasing its competitiveness and potential for growth compared to other segments.
The genome sequencing segment is expected to witness the fastest growth over the forecast period.
The statement “The genome sequencing segment is expected to witness the fastest growth over the forecast period” indicates that within the field of genomics, specifically genome sequencing, there is projected to be rapid expansion and development in the coming period. This growth is likely driven by advances in technology, increased demand for genomic data for research and clinical applications, and declining costs associated with genome sequencing. Such rapid growth suggests that genome sequencing is becoming increasingly important and impactful in various industries and fields, leading to significant opportunities for innovation, research, and economic growth within the genomics sector.
At present, over 1,000 companies engage in providing various types of NGS related services / products.
The statistic indicates that there are currently more than 1,000 companies involved in offering a range of Next-Generation Sequencing (NGS) related services and products. This suggests a significant and growing interest in the field of NGS technology, which is used for sequencing the DNA or RNA of organisms. The presence of a large number of companies in this space highlights the competitiveness and diversity within the industry, as well as the increasing demand for NGS services across various sectors such as healthcare, agriculture, and research. The abundance of providers also suggests that there are likely various options and specialties available for consumers seeking NGS solutions, contributing to the advancement and accessibility of genomic technologies.
By 2023, over 2.0 million genomes are expected to be sequenced.
The statistic “By 2023, over 2.0 million genomes are expected to be sequenced” signifies a significant advancement in genomic research and technology within the next few years. By genome sequencing, scientists can decode the entire DNA sequence of an organism, providing valuable insights into genetic variations, disease susceptibility, and personalized medicine. The projection of over 2.0 million genomes being sequenced by 2023 highlights the increasing scale and pace of genetic research, driven by advancements in sequencing technologies and decreasing costs. This exponential growth in genomic data has the potential to revolutionize various fields, including healthcare, agriculture, and personalized medicine, paving the way for a deeper understanding of genetics and its applications in improving human health and well-being.
Hospitals are expected to emerge as the fastest-growing end-use segment with a CAGR of 14.1% from 2021 to 2028.
This statistic indicates that hospitals are projected to experience significant growth as an end-use segment between the years 2021 and 2028, with a Compound Annual Growth Rate (CAGR) of 14.1%. This means that the demand for the products or services provided to hospitals is expected to increase rapidly over this time period. Factors driving this growth in hospitals could include an increasing emphasis on healthcare services, advancements in medical technology, population growth, and changes in healthcare policies. As hospitals expand their services and infrastructure to meet the rising demand for healthcare, they are likely to drive growth in the market for related products and services.
Currently, close to 8,000 different types of NGS data analysis instruments / software / tools are available in the market.
The statistic indicates that there are currently approximately 8,000 diverse types of Next-Generation Sequencing (NGS) data analysis instruments, software, and tools accessible in the market. This suggests a vast array of options for researchers and scientists to choose from when analyzing NGS data, reflecting the rapid growth and innovation in the field of genomics. The availability of such a large number of tools indicates the variety and specialized nature of the analyses that can be performed on NGS data, highlighting the importance of selecting the most appropriate tool for a given research question or application. Researchers can leverage this extensive range of options to optimize their analytical workflows, enhance data interpretation, and advance our understanding of complex biological processes.
By 2022, the overall market for bioinformatics is expected to be around USD 12.86 billion.
The statistic states that by the year 2022, the total market value of the field of bioinformatics is anticipated to reach approximately USD 12.86 billion. Bioinformatics involves the application of computer technology and statistical methods to analyze biological data, such as DNA sequences, in order to better understand and solve complex biological problems. The projected market value indicates a growing demand for bioinformatics tools, software, and services for research and applications in various fields such as genomics, personalized medicine, drug discovery, and agriculture. This statistic suggests a significant market opportunity and continued expansion of the bioinformatics industry in the near future.
Targeted sequencing & re-sequencing led the application segment in terms of revenue in 2020, with a share of over 31.2%.
In 2020, targeted sequencing and re-sequencing emerged as the leading application segment in terms of revenue within the statistics industry, capturing a substantial market share of over 31.2%. This indicates a growing preference among customers for these specific sequencing methods, which involve selectively targeting and capturing specific regions of interest within a genome. The popularity of targeted sequencing and re-sequencing can be attributed to their efficiency in accurately analyzing specific genetic variations, elucidating complex biological mechanisms, and facilitating personalized medicine approaches. As a result, companies that specialize in providing these sequencing services have seen significant financial success by catering to the increasing demand for precision and customization in genomic analysis.
The diagnostic segment is anticipated to witness the fastest growth over the forecast period starting from 2021 and ending 2028.
This statistic suggests that the diagnostic segment, within a specific industry or market, is expected to experience the highest rate of growth compared to other segments from the year 2021 to 2028. This growth is likely driven by factors such as technological advancements, increasing demand for diagnostic services, and emerging trends in the industry. The forecast indicates that businesses operating within the diagnostic segment could potentially see significant opportunities for expansion and revenue growth during this period. This projection may influence strategic decision-making and investment choices within the industry to capitalize on the anticipated growth in the diagnostic segment.
As of 2020, close to 85% growth was reported in the annual funding, dedicated to next-generation sequencing space.
The statistic stating that close to 85% growth was reported in annual funding dedicated to the next-generation sequencing (NGS) space as of 2020 indicates a substantial increase in financial support for advancements in NGS technology. This growth in funding suggests a rising interest and investment in NGS research and applications, likely driven by the increasing demand for high-throughput sequencing technologies in various fields such as genomics, healthcare, and biotechnology. The substantial increase in funding highlights the potential for significant progress and innovation in NGS technology, with the aim of enabling more efficient, cost-effective, and widespread adoption of next-generation sequencing techniques in research and clinical settings.
As of 2021, more than 6,000 types of kits / reagents, designed for next-generation sequencing, are available in the market.
The statistic that as of 2021 there are more than 6,000 types of kits and reagents available for next-generation sequencing reveals the significant and rapidly evolving advancements in the field of genomics. Next-generation sequencing technologies have revolutionized the way DNA sequencing is performed, allowing for faster, more accurate, and cost-effective analysis of genetic material. The sheer number of available kits and reagents suggests a diverse range of solutions tailored to different research needs and applications, enabling scientists and researchers to conduct a wide variety of genomic studies with precision and efficiency. This statistic highlights the growing accessibility and versatility of next-generation sequencing tools, fueling further discoveries and advancements in genomics research.
The prenatal testing market (utilizing NGS) is expected to double by 2025, with an estimated worth of $2.5 billion.
The statistic states that the prenatal testing market, specifically utilizing Next-Generation Sequencing (NGS) technology, is projected to double in size by the year 2025, reaching an estimated value of $2.5 billion. This indicates a substantial growth and increasing demand for prenatal testing services that utilize NGS technology, which is known for its high-throughput capabilities and accuracy in detecting genetic abnormalities and conditions in fetuses. The expected expansion of the prenatal testing market reflects advancements in technology, increased awareness, and growing preferences for non-invasive and comprehensive testing options among expectant parents and healthcare providers.
The academic research segment is projected to reach $7,037 million by 2023 in the next-generation sequencing market.
This statistic indicates that the academic research segment within the next-generation sequencing market is expected to grow significantly and reach a market value of $7,037 million by the year 2023. This projection suggests a strong trend towards increased adoption and utilization of next-generation sequencing technologies within the academic research community. The growth in this segment could be attributed to various factors such as advancements in sequencing technology, expanding applications in research areas like genomics, transcriptomics, and personalized medicine, as well as increasing funding for research projects. The projected market value signifies the market potential and opportunities for companies operating in the next-generation sequencing industry to cater to the academic research sector’s growing needs and demands.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.bccresearch.com
3. – https://www.www.rootsanalysis.com
