The Global Next-Generation Sequencing market was valued at USD 7.80 billion in 2020, growing at a CAGR of 18.96% during the forecast period from 2021 to 2026, to reach USD 22.03 billion by 2026. The increase in demand for Next-Generation Sequencing is primarily attributed to the rising cases of infectious diseases such as the sudden outbreak of COVID-19 and the escalating burden of cancer, worldwide. Moreover, the rising application of Next-Generation Sequencing technology in clinical diagnosis and scientific research, and advantages such as efficient turnaround results, high speed, and accuracy exhibited by the NGS technology, among others are some of the factors that would contribute to the global Next-Generation Sequencing market growth in the forthcoming years.
Some of the Global Next Generation Sequencing companies with their Next Generation Sequencing products in various stages of development include Agilent Technologies, Inc., Illumina Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, QIAGEN, Thermo Fisher Scientific, PerkinElmer Inc., MedGenome, BGI, Pacific Biosciences, GENEWIZ, Oxford Nanopore Technologies plc., and several others
DelveInsight’s “Next Generation Sequencing Market Insights and Forecast” report provides the current and forecasted Next Generation Sequencing Market trends for the next five years, upcoming innovation in the devices, individual Next Generation Sequencing market share, challenges, drivers and barriers, and key competitors in the domain.
Next-Generation Sequencing Overview
Next-Generation Sequencing is a massively parallel technology for determining the RNA or DNA sequence to provide information regarding genetic variation associated with diseases or other biological phenomena. The technology offers scalability, high throughput, and speed thereby allowing labs to perform a wide variety of applications. Next-Generation Sequencing is gaining pace at present due to the surge in COVID-19 infected people across the globe. This is because the Covid virus has evolved from the time of its outbreak and PCR testing only determines the presence of the virus. Whereas, Next Generation Sequencing Cancer technology is used in determining the novel strains of the COVID-19 virus as well as its surveillance.
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Recent Breakthroughs in Next-Generation Sequencing Market
In recent years, the Next-Generation Sequencing market observed expansions in terms of clinical, commercial, and clinical development.
- In December 2021, Roche launched the AVENIO Edge System to simplify and automate next-generation sequencing sample preparation, reduce human error and advance precision medicine.
- In May 2021, Illumina, Inc. and Next-Generation Genomics Co., Ltd. launched VeriSeq™ NIPT Solution v2 in Thailand, a CE-IVD, next-generation sequencing (NGS)-based approach to noninvasive prenatal testing (NIPT).
- In February 2021, INOVIO and QIAGEN expanded collaboration to develop next-generation sequencing (NGS) companion diagnostic for INOVIO’s VGX-3100 for advanced cervical dysplasia.
According to DelveInsight, the Next Generation Sequencing Clinical Development market would rise rapidly throughout the forecast period due to continuous commercial and clinical development.
Key Players Proactively working in the Next-Generation Sequencing Market Insights
The global market for Next-Generation Sequencing key players contribute significantly to their development and are also active in mergers and acquisitions to strengthen their market position. Some of the Next-Generation Sequencing market companies operating actively in the Next-Generation Sequencing included Agilent Technologies, Inc., Illumina Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, QIAGEN, Thermo Fisher Scientific, PerkinElmer Inc., MedGenome, BGI, Pacific Biosciences, GENEWIZ, Oxford Nanopore Technologies plc., and several others.
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COVID-19 Impact Analysis on Next-Generation Sequencing Market
The COVID-19 pandemic has had a positive effect on the Next-Generation Sequencing market. This is because NGS technology is a cost-effective molecular test for the diagnosis of COVID19, which uses a single-step RNA extraction and presents high scalability and accuracy when compared to the gold-standard RT-qPCR. Furthermore, the rise in emergency use authorizations (EUAs) for Next-Generation Sequencing tests for SARS-CoV-2 has also led to market growth during the pandemic crisis.
For instance, on June 10, 2020, Illumina, Inc. received an Emergency Use Authorization (EUA) for the Illumina COVIDSeq™ Test, a high-throughput, next-generation sequencing-based, in vitro diagnostic (IVD) workflow enabling the detection of SARS-CoV-2 by the US FDA. In addition, the inclusion of Next-generation sequencing (NGS) technology as a clinical diagnostic test, particularly with the COVID-19 pandemic by various laboratories has also bolstered the market during the pandemic.
The market for Next-Generation Sequencing is gaining pace at present due to the surge in COVID-19 infected people across the globe. This is because the Covid virus has evolved from the time of its outbreak and PCR testing only determines the presence of the virus. Whereas, NGS technology is used in determining the novel strains of the COVID-19 virus as well as its surveillance.
For instance, in August 2020, Helix Laboratory obtained the FDA approval for its COVID-19 NGS test, an amplicon-based next-generation sequencing (NGS) test developed for the qualitative detection of nucleic acid from the SARS-CoV-2 in upper respiratory specimens for COVID-19 suspected individuals.
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Scope of the Next-Generation Sequencing Market Report
- Geography Covered- Global
- Study period- 2021-2026
- Market Segmentation- By Product Type, By sequencing types, By application, By end-user, By Geography, and the Rest of the world.
- Key Global Next-Generation Sequencing Companies in the Market:- Agilent Technologies, Inc., Illumina Inc.(ILMN), Bio-Rad Laboratories, Inc (NYSE: BIO)., F. Hoffmann-La Roche Ltd, QIAGEN (NYSE: QGEN), Thermo Fisher Scientific (NYSE: TMO), PerkinElmer Inc (NYSE: PKI)., MedGenome (NYSE: MDIN), Birks Group Inc. (NYSE: BGI), Pacific Biosciences (NYSE: PACB), GENEWIZ, Oxford Nanopore Technologies plc. (NYSE: ONT.L), and several others.
- Porter’s Five Forces Analysis
- Product Profiles
- Cases Studies
- KOL’s Views
- Analyst’s View
Table of content
- Report Introduction
- Executive summary
- Regulatory and Patent Analysis
- Key factors analysis
- Porter’s Five Forces Analysis
- COVID-19 Impact Analysis
- Next-Generation Sequencing Market layout
- Global Next-Generation Sequencing Company Share Analysis – Key 3-5 Companies
- Product Profiles
- KOL Views
- Project Approach
- About DelveInsight
- Disclaimer & Contact Us
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Key Takeaways from the Next-Generation Sequencing Market Report Study
- Next-Generation Sequencing Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Next-Generation Sequencing market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Next-Generation Sequencing Market.
- Various opportunities are available for the other competitor in the Next-Generation Sequencing Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Next-Generation Sequencing market growth in the coming future?
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