Asia-Pacific Next Generation Sequencing Market

Asia-Pacific Next-Generation Sequencing (NGS) Market Size (2024 to 2029)

The size of the Asia-Pacific NGS market was valued at USD 1.25 billion in 2023. The Asia-Pacific market is anticipated to grow at a CAGR of 25.35% from 2024 to 2029 and be worth USD 4.85 billion by 2029 from USD 1.57 billion in 2024. Thus, the Asia-Pacific market is expected to grow at a considerable rate throughout the forecast period. The expected growth can be attributed to Asian companies and government agencies working to boost their genomics industry and revenue generation in the Asia-Pacific region.

The Asia-Pacific NGS market showcases healthy growth due to the innovation and increased funding provided by governments and private organizations. In addition, increased investment by biotechnology and pharmaceutical companies is also expected to accelerate market growth. This is due to increased investment in R&D activities due to the spread of cancer and infectious diseases. Also, the development of NGS bioinformatics solutions and the presence of key players in the region are further expected to accelerate market growth.

Asia presents significant opportunities for investors/venture capitalists as the developed markets are saturated. The presence of noteworthy developments by China and Japan to integrate new technologies and the development of healthcare is majorly driving the Asia Pacific Market. In addition, R&D and clinical development frameworks of countries such as India and Australia have composed the Asia Pacific market to witness lucrative growth throughout the forecast period. The rise in the growth of personalized medicine, development in pre-sequencing and NGS bioinformatics solutions and cloud computing, growth in the Asia-Pacific population, and increasing incidence of infectious diseases are a few factors driving the market growth.

In addition, the anticipated decrease in the prices of genome sequencing due to the development of rapid, high-capacity whole genome sequencers by key players is expected to have an optimistic effect on market penetration rates over a few years. However, the storage and management of enormous data generated by sequencing and its interpretation, high reliability on grants & funding from the government, and fall in capital expenditure from academic institutions are challenges for the Asia-Pacific next-generation sequencing market.

This research report on the Asia-Pacific NGS Market has been segmented and sub-segmented into the following categories.

Asia-Pacific NGS Market Analysis By Product

• Software
• Services

Asia-Pacific NGS Market Analysis By Technology 

• Targeted Re-Sequencing
• Whole Genome Sequencing
• De Novo Sequencing
• Exome Sequencing
• RNA-Seq
• ChIP-Seq
• Methyl-Seq

Asia-Pacific NGS Market Analysis By Application 

• Diagnostics
• Drug Discovery
• Biomarker Discovery
• Personalized Medicine
• Agriculture
• Animals Research

Asia-Pacific NGS Market Analysis By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of Asia-Pacific

Regionally, the Asia-Pacific NGS market is the fastest-growing regional market in the global market. Asian companies adopt various marketing strategies to expand their marketing operations in other regional markets as the domestic market expands. For example, BGI acquired Complete Genomics, an Asia company that provides a next-generation sequencing platform for DNA for human genome analysis. Similarly, China partnered with the UK in December 2017 to expand the country's space for science and innovation.

The China NGS market dominated the APAC market in 2023 and is forecasted to account for the most significant share in the APAC region during the forecast period. China has witnessed technological advancements in molecular biology; it has enhanced sequencing procedures, which is expected to expand the market growth. As a result, the market players are implementing various strategies to gain a competitive advantage over the marketplace. Similarly, China has partnered with the UK to expand the country's space for science and innovation.

On the other hand, the Japanese NGS market is anticipated to register a promising share in the Asia-Pacific Next-generation sequencing market due to the increasing R&D activities of biopharmaceutical and pharmaceutical companies. In addition, major players in the market are introducing new products due to the growing healthcare expenditure. The Japanese next-generation sequencing (NGS) market is growing at a robust rate, with the growing prominence of improving the healthcare infrastructure. Government authorities take complete responsibility for providing high-quality treatment procedures to the public where it is not permitted to run profitable organizations across the country. The reasonable cost of the genomes and an increasing number of cancer patients are prompting the growth rate of the market in Japan. It is estimated that around 17.6% of women and 26.3% of men are likely to develop cancer by the age of 75. Therefore, the rising burden on the development of new drugs using these technologies enhances the demand for the next generation sequencing methods.

Further, the Indian NGS market is one of the fastest-growing countries in the Asia Pacific.  Also, favorable government policies, improvements in the healthcare sector, and increasing genome mapping programs contribute to the next-generation sequencing market.

The South Korean NGS market is esteemed to have prominent growth opportunities during the forecast period. Increasing incidences of various chronic diseases and rising awareness over treatment procedures, along with growing expenditures on healthcare, are prompting the demand for next-generation sequencing techniques. Also, the growing focus on developing innovative drugs in favor of the public is greatly influencing the market growth rate. With rising awareness, the demand for NGS applications is increasing in many aspects, which is ascribed to propelling the growth rate of the market.

The growth rate of the NGS market in Singapore has been growing exponentially in the past few years with the rising research and development activities in healthcare. The growing prominence of producing high-quality drugs at affordable prices is majorly amplifying the growth rate of the NGS market in Singapore.

KEY MARKET PLAYERS

Illumina Incorporated, Thermo Fischer Scientific, Life Sciences (Roche), Pacific Biosciences, Life Technologies Corp. (Thermo Fischer Scientific), Macrogen Inc, Partek Inc., Genomatix Software GmbH, Perkin Elmer Inc., GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., CLC Bio (Qiagen), BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., DNASTAR Inc., Knome Inc., and Qiagen N.V. are some of the noteworthy companies operating in the Asia-Pacific NGS market.