Next Generation Sequencing Market is analyzed in the latest research report from Market Research Future (MRFR). The global next generation sequencing market’s historical trajectory, current standings, and future projections are described in the report, which also presents a detailed assessment of the economic background of the Next Generation Sequencing Market and the major drivers and restraints affecting the market’s growth.
Major drivers for the global next generation sequencing market include the increasing demand for the technology in next generation drug making and diagnostics. Drug development has become a teeming, active business in the last few years, with several smaller players making a mark in the market due to the relative ease of setting up drug manufacturing. This has allowed the market to capitalize on the commercial success of the products and evolve with new technological input, such as the development of accurate human tissue samples from scratch or from organic matter to test the effects of drugs more comprehensively and thoroughly. The ability of next generation sequencing to produce human genome sequences in a low amount of time has made it a valuable tool for researchers operating in the field of drug development.
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The accelerated rate of innovations in high throughput sequencing technology is projected to encourage the next generation sequencing market. The benefits achieved by providing speed and decreasing sequencing cost in the sequencing process is expected to create a strong base for the expansion of the next generation sequencing market in the approaching period.
Key Players – Next Generation Sequencing Market
The potential of next generation sequencing in matching blood group antigens for transfusion is likely to be a major factor in the global next generation sequencing market’s development in the coming years. Blood donations are likely to increase in the coming years thanks to the growing awareness about the process in developing countries, leading to a need for rapid matching for smooth, speedy processing of transfusions. This is likely to remain a key driver for the global next generation sequencing market over the forecast period.
The competitors have adopted diversified plans to increase their chances for success in the market. The creation of great competitive advantages is expected to aid in the development of the market. A substantial ascent in the number of promoters in the market is anticipated to shape a beneficial state of activities for the growth of the market in the forecasted period. The access to vital planned prospects imperative to the resultant stabilization of inflation is likely to produce a promising option for advancement in the forthcoming years. The growth of the market is influenced by the presence of factors that are stimulating the growth of the market. The need to create a sustainable competitive advantage has accelerated the progress of the market in the forecast period. The diversified consumer tastes and trends in the market are anticipated to lead to an escalated development rate in the market. The use of strategic tools to further the development of the market in the coming years.
Leading players in the global next generation sequencing market include
- Eurofins Scientific,
- Oxford Nanopore Technologies Ltd.,
- Macrogen Inc.,
- Qiagen N.V.,
- Agilent Technologies,
- Pacific Biosciences of California Inc.,
- Thermo Fisher Scientific Inc.,
- Illumina Inc
Segments – Next Generation Sequencing Market
The global market next generation sequencing has been segmented on the basis of technology, service and product, application, and end-user.
The types of technologies adopted in the global market for next-generation sequencing are CHIP sequencing, de novo sequencing, methyl sequencing, targeted resequencing, RNA sequencing, whole-exome sequencing, and whole-genome sequencing.
The various forms of products and services offered in the market are consumables, platforms, and services for platforms, sample preparation, and sequencing services. The sample preparation is segmented into A-tailing and size selection, DNA fragmentation, end-repair, library preparation & target enrichment, and quality control.
the applications of the next-generation sequencing technology are agriculture and animal research, diagnostics, drug discovery, genetic screening, and others.
The end-users in the market are academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and other end-users.
Regional Analysis – Next Generation Sequencing Market
Based on the region, the global Next Generation Sequencing Market is analyzed in North America, Latin America, Asia Pacific, Europe, and the middle east and Africa.
North America is anticipated to account for the largest market share in the next-generation sequencing market over the review period. Factors such as an increase in consumer necessities and augmented competition among market players in the region through acquisitions and mergers are likely to drive the growth of the market over the forecast period. The growth in the number of resources and initiatives implemented by the government to reduce the cancer prevalence and to advance the healthcare sector is also likely to contribute to the market.
The European region is anticipated to hold the second-largest market share owing to the presence of ground-breaking next-generation sequencing technology, a very sophisticated and educated population that is taking an interest in next-generation technology (NGS). however, the diverse rules and regulations and a fragmented market can create challenges for the market growth over the forecast period, creating a disruption in terms of growth.
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The market share in Asia-Pacific is also anticipated to witness growth in the forecast period owing to the access to most favorable treatment facilities and increasing demand for advanced technologies, higher adoption rate, enhancement in disposable income, and expanding investments by pharmaceutical companies in the market over the forecast period.
The next-generation sequencing market in the Middle East and Africa is projected to account for the smallest share of the next-generation sequencing market due to a weak healthcare sector, lack of technological knowledge and skilled workforce, and poor medical facilities. The middle east is likely to contribute substantially towards the market share
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