Market Overview –
The next-generation sequencing (NGS) market focuses on providing advanced genomic analysis technologies that enable researchers to sequence and analyze DNA and RNA with unprecedented speed, accuracy, and throughput. NGS technologies have revolutionized genomic research, offering insights into genetic variations, gene expression patterns, and disease mechanisms.
The Next Generation Sequencing (NGS) Market is thriving with the widespread adoption of NGS DNA sequencing technologies. These advanced methods enable rapid and high-throughput sequencing of DNA, driving research and clinical applications. The market offers a range of platforms and services catering to diverse needs, from genomic analysis to personalized medicine, fueling its continuous growth and innovation.
Market growth is driven by several factors, including the increasing adoption of NGS in research and clinical diagnostics, growing demand for personalized medicine, and declining sequencing costs. As NGS becomes more accessible and affordable, there is a growing demand for sequencing services and platforms to support a wide range of applications, from basic research to clinical diagnostics.
Technological advancements and innovations in NGS platforms and bioinformatics tools are shaping the market, offering higher sequencing throughput, improved accuracy, and reduced turnaround times for genomic analysis. From sequencing instruments and reagents to data analysis software and cloud-based solutions, these advancements enhance researchers' ability to generate and interpret large-scale genomic data more efficiently.
The Next Generation Sequencing Market Size was evaluated at USD 9.46 billion in 2021 and is expected to expand from USD 11.23 billion in 2022 to USD 44.24 billion by 2030, representing a compound yearly growth rate (CAGR) of 18.70% during the forecast period (2022- 2030).
Market Segmentation
The Global Next-Generation Sequencing Market has been segmented into Technology, Workflow, Application, End User, and Region.
Based on technology, the global next-generation sequencing market has been divided into targeted sequencing resequencing, whole-genome sequencing, and whole-exome sequencing.
Based on workflow, the global next-generation sequencing market has been divided into pre-sequencing, sequencing, and data analysis.
The global next-generation sequencing market, by applications, has been segmented into oncology, clinical investigation, reproductive health, human leukocyte antigen typing or immune system monitoring, metagenomics, epidemiology, and drug development, agrigenomics forensics, consumer genomics, and others.
The global next-generation sequencing market, by end-user, has been segmented into hospitals clinics, diagnostic laboratories, pharmaceutical and biotechnology companies, and others.
Regional Overview
Because of the increasing applications of NGS in diagnostics and genomics research, as well as the easy availability of funding for research activities, the Americas are expected to dominate the next-generation sequencing market. The growth of the next-generation sequencing market in North America is expected to be aided by the increasing number of funds being granted for genomics research and government measures to curb cases of genetically occurring diseases, as well as demand to boost the healthcare sector. The market in the region is expected to develop as a result of increased competition among market players, as well as acquisitions and mergers.
Due to companies' increased emphasis on developing better goods, Europe is projected to hold the second-largest spot in the global next-generation sequencing industry. Due to the involvement of some of the leading next-generation sequencing technology companies and an informed population interested in the development of next-generation sequencing technology, Europe is projected to hold the second-largest revenue share. Diverse regulations and a fragmented NGS market will limit the market's growth in the region, but a favorable funding environment and extensive support for scientific research will boost the region's next-generation sequencing market.
Due to rising technological advances and increased investment by major healthcare companies to develop innovative products, Asia-Pacific is projected to be the fastest-growing regional market. Due to the demand for innovative technology and access to improved treatment facilities, better acceptance of advanced genomics, a rise in disposable income, and rising pharmaceutical company investments in diverse treatment options, Asia-next-generation Pacific's sequencing market share is expected to expand in the coming years.
Due to the slow development of the healthcare industry in the Middle East and Africa, the demand for next-generation sequencing is expected to expand steadily. Moreover, due to a lack of technological expertise, a poorly established healthcare system, and inadequate medical facilities, the Middle East and Africa are projected to have the smallest share of the next-generation sequencing industry.
Key Players –
Next-generation sequencing major players are Becton Eurofins Scientific based in the US, Illumina, Inc. from the US, Genome Life Sciences headquartered in India, GenScript based in the US, Thermo Fisher Scientific, Inc. also from the US, Qiagen headquartered in Germany, PerkinElmer, Inc. based in the US, F. Hoffmann-La Roche Ltd from Switzerland, Pacific Biosciences of California, Inc. headquartered in the US, Xcelris Genomics from India, along with other participants.
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