Product Type: Instruments (including software) and Reagents (including consumables).Company: Illumina, Thermo Fisher (Ion Torrent), Roche, Pacific Biosciences, and others**.This report assesses the NGS manufacturer market (i.e., excluding NGS service revenues ) across six segments: While new entrants will gain share given their revenues start from a low / zero base, established customers, especially in Biopharma and in the clinic, will continue to use established players that they trust and have established a strong ecosystem that covers the bookends of the workflow (i.e., sample preparation and bioinformatic pipelines).The drop in cost per Gb (e.g., NovaSeq X decreasing reagent costs ~2.5x) will be offset by an increasing in sequencing volumes, both in terms of number of samples, plex (e.g., 500 genes to WES), sequencing complexity (e.g., adding gene expression profiling to cancer panels / tumor characterization) and depth of sequencing (in some cases).While novel players will gain traction across customer types for a broad range of applications, we uphold our perspective that Illumina will maintain strong market share in clinical settings, most notably in clinical oncology, as their instruments start to be used across the patient journey (including multiple cancer monitoring applications and early cancer detection) in addition to the penetration of therapy selection (now moving from metastatic to earlier-stage cancer patients ).The 8th edition of this report was published to provide granularity on the “post-pandemic” market landscape. Looking at the next 3 years, and despite a challenging macroeconomic environment (and despite dropping cost per Gb), we forecast that market growth will be accelerating. As a result, we estimate that the market will reach ~$9.3B. 2022 proved to be another anomaly, with many factors contributing to a tepid ~6% growth for a market with a long runway and strong growth prospects across multiple applications. Following a “soft” year in 2020 (~$4.1B) due to the COVID-19 pandemic, the market rebounded and reached ~$5.8B in 2021. This technology is used for applications including human whole genome sequencing (WGS), whole exome sequencing (WES), targeted sequencing using panels of a few-to-thousands of genes, and expression profiling (i.e., RNA-Seq). Next Generation Sequencing (NGS)* has transformed the life sciences and diagnostics landscapes.
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