The global demand for Next-Generation Sequencing market, in terms of revenue, was worth of USD 4.80 billion in 2021 and is expected to reach USD 12.24 billion in 2028, growing at a CAGR of 15.4% from 2022 to 2028.
Scope of The Next-Generation Sequencing Market Report:
Next generation sequencing technology (NGS) provides ideal throughput per data and genome studies can be performed quickly and cost-effective manner. NGS technologies are currently used for genome sequencing, investigation of genome diversity, metagenomics, epigenetics, discovery of non-coding RNAs, protein-binding sites and assessing gene-expression profiling. The development of next generation sequencing enables researchers to determine the microorganism’s behavior and understand the world of microorganisms from broader and deeper perspectives.
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Next-Generation Sequencing Market Players:
- Thermo Fisher Scientific
- BGI Group
- Agilent Technologies
- Genomatrix GmbH
- Oxford Nanopore Technologies
- Hoffman-La Roche Ltd.
- Bio-Rad Laboratories
- Eurofins GATC Biotech GmbH
- DNASTAR lnc
Global Next Generation Sequencing Market Segmentation-
By Type of Sequencing
- Whole Genome Sequencing
- Targeted Resequencing
- Whole Exome Sequencing
By Product Type
- Sequencing by Synthesis
- ION Semiconductor Sequencing
- Nanopore Sequencing
- Single-Molecule-Real-Time Sequencing
- Drug Discovery
- Agricultural and Animal research
- Academic Institutes
- Research Centers
- Pharmaceuticals and Biotechnology Industries
- Hospitals and Clinics
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NGS has revolutionized the biological sciences, allowing laboratories to perform a variety of applications and study biological systems at a level never before possible. Today’s complex genomics questions demand a depth of information beyond the capabilities of traditional DNA sequencing technologies.
Demand for NGS instruments
The pharmaceutical sector will benefit from the availability of technologically advanced NGS equipment that allows scientists and researchers to efficiently carry out the drug discovery process.
- Research application of next-gene sequencing
The significant increase in research applications is mainly due to the high prevalence of rare genetic diseases which has encouraged the development of new gene therapies and treatments.
Utilization of exome sequencing
Exome sequencing is mainly used to identify specific protein-coding regions of genes that increase the clarity of the sequencing process. This method is highly preferred by doctors and researchers for analyzing genome sequences.
- Drug development for genetic disorders
The contribution of pharmaceutical and biotechnology companies in the next-generation sequencing industry will experience 15.9% CAGR by 2028. These companies are focusing on extensive R&D activities to develop effective drugs to treat several genetic and chronic conditions.
Favorable regulatory norms in the U.S.
There are ideal conditions for the expansion of the next-generation sequencing business in 2018. Extensive government funding and support have fueled the high adoption of NGS tools in the research process.
The development of next-generation sequencing technologies has revolutionized data interpretation, gene mapping, and analysis of large genome sequences that help scientists and researchers develop drugs for various diseases.
Regional In-Detailed Analysis:
North America has accounted for largest market share in the next generation sequencing market primarily due to the growing research & development activities in clinical areas, and presence of leading healthcare organizations. The growth of genetics and genomics science and applications in the U.S. has been gaining a huge traction in recent years, with research institutions innovating genome sequence technology to provide cost effective analysis of sequencing. Europe holds second leading position in the next generation sequencing market owing to the higher number of research centers and increased use of personalized medicine.
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of the market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are the main factors responsible for new product launches?
- How big are the global & regional markets in terms of revenue, sales, and production?
- How far will the market grow in the forecast period in terms of revenue, sales, and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
Key Benefits for Global Next-Generation Sequencing Market Report–
- Global Next-Generation Sequencing Market report covers in depth historical and forecast analysis.
- Global Next-Generation Sequencing Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Next-Generation Sequencing Market report helps to identify opportunities in market place.
- Global Next-Generation Sequencing Market report covers extensive analysis of emerging trends and competitive landscape.
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