Illumina (US) and Thermo Fisher Scientific (US) are Leading Players in the Next-generation Sequencing (NGS) Market
The next-generation sequencing market is projected to reach USD 24.2 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 18.7 % during the forecast period. The growth of this market is mainly driven by advancements in NGS platforms, declining costs of genome sequencing, and improving regulatory and reimbursement scenario for NGS-based diagnostic tests.
The prominent players operating in the next-generation sequencing market are Illumina (US), Thermo Fisher Scientific (US), BGI Group (China), PerkinElmer (US), and Agilent Technologies (US).
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Illumina (US) is the leading player in the NGS market. This is attributed to its robust product offerings and NGS services. The company’s product segment includes a wide range of sequencing, genotyping, gene expression, and molecular diagnostic platforms, consumables, and services that run on the SBS technology. In the past three years, Illumina has launched several products in the market, including the NovaSeqT 6000 v1.5 Reagent Kit, TruSight Software Suite, NextSeq 1000, NextSeq 2000, and VeriSeq NIPT Solution v2. In order to ensure continuous product development, the company invests a significant amount of its revenue on R&D expenditure.
Thermo Fisher Scientific (US) held the second position in the next-generation sequencing market in 2020. The company’s NGS sequencers run on ion semiconductor sequencing technology. Thermo Fisher will continue to have a strong market position owing to its robust platforms and consumables. The company also has a significant geographic presence. The company adopts organic and inorganic strategies such as acquisitions, product launches, and expansions to strengthen its market position. For instance, in August 2020, Thermo Fisher Scientific launched 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.
Related Reports:
Next-generation Sequencing (NGS) Market by Product & Service (Consumables, Platforms, Services, Bioinformatics), Technology (SBS, SMRT), Application (Diagnostic, Drug Discovery, Agriculture), End User (Pharma, Biotech, Academic) - Global Forecast to 2026
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