Next Generation Sequencing (NGS) Market
DataM Intelligence published a business research report on the Next Generation Sequencing (NGS) Market by Product, By Application, By Technology, By End User, and By Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts for 2022–2029. Next Generation Sequencing (NGS) Market Report with 110+ market data Tables, Pie Chat, Graphs, and Figures spread concluded Pages and easy to comprehend complete analysis. The data is collected based on modern floats and requests acknowledged with the administrations and items.
The Next Generation Sequencing (NGS) market study comprises historic data, current market trends, environment, technological innovation, upcoming technologies, and the technical progress in the correlated industry. The autoinjectors research report offers a complete, proficient report delivering market research information that is related to new market entrants or set up players. Key strategies of the companies operating in the market and their effect analysis have been comprised in the full report.
According to the Study conducted by DataM Intelligence, the global Next Generation Sequencing (NGS) Market size is projected to reach a decent value in billion USD by the end of 2029, with growth at a CAGR of 14% During the forecast period 2021-2029.
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What is Next Generation Sequencing (NGS)?
Next-Generation Sequencing (NGS) is a technology in which millions of DNA strands can be sequenced through massive parallelization, this technique is also known as high throughput sequencing. The low cost, high accuracy and speed, and precise results even from low sample inputs are the main advantages NGS offers over Sanger’s sequencing method. DNA pre-sequencing is one of the most significant steps in the overall sequencing protocol as it involves the preparation of samples for the subsequent sequencing reaction.
Next-Generation Sequencing (NGS) Market Growth Insights:
The global Next-Generation Sequencing (NGS) Market growth is driven by the increase in genome mapping programs, rise in applications of next-generation sequencing, increase in healthcare expenditure and technological advancements in sequencing platforms.
The advancements in NGS platforms will drive the market growth
Continuous technological innovations in sequencers have enabled the introduction of efficient, portable, and easy-to-use NGS platforms, capable of providing rapid and accurate results and boasting improved turnaround times. The introduction of such products and the technologies behind them provide an immediate competitive edge to players; as a result, prominent companies are increasingly focusing on the research and development of such products to strengthen their market positions and shares.
COVID-19 Impact on the Global Market:
Next-generation sequencing (NGS) diagnostic technology has the potential advantage of determining the genetic sequence of a virus and helping scientists understand the mutation of the virus. Throughout the COVID-19 pandemic, government authorities across the world are constantly working with the private sector to bring NGS technology as the potential diagnostic tool in the market. In June 2020, the United States Food and Drug Administration (US FDA) issued an emergency use authorization (EUA) to Illumina Inc. for the first COVID-19 diagnostic test utilizing next-generation sequence technology. The FDA authorized the Illumina COVID Test for the qualitative detection of SARS-CoV-2 RNA.
Next-Generation Sequencing (NGS) Market Segmentation Analysis:
By Product: Reagents and Consumables, Instruments, and Others
By Application: Agriculture and Animal Research, Drug Discovery, Diagnostics, Genetic Screening, Others
By Technology: Whole-genome sequencing, Chip Sequencing, De Novo Sequencing, RNA Sequencing, Methyl Sequencing, Others
Whole-genome sequencing (WGS) is a comprehensive method for analyzing entire genomes. Genomic information has been instrumental in identifying inherited disorders, characterizing the mutations that drive cancer progression, and tracking disease outbreaks
By End User: Academics, Biotechnology and Pharmaceutical Firms, Hospitals and Healthcare Institutions, Services, Others
By Geographical Classification:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Rest of the world
North America Next-Generation Sequencing (NGS) Market:
North America is expected to hold the largest share in the NGS market. The rising focus of the major market players is on delivering advanced, efficient NGS technologies to developing countries to cater to the need for genomic medicines and whole-genome sequencing for personalized medicine.
Europe Next-Generation Sequencing (NGS) Market
Europe region had engaged the second-largest share in the global Next-Generation Sequencing (NGS) Market in 2021. The European market is projected to produce at a high CAGR over the forecast period 2021-2029. In the European region, the German Next-Generation Sequencing (NGS) Market is projected to control the European Next-Generation Sequencing (NGS) Market accounting for a considerable share throughout the forecast period 2021-2029.
Latin America Next-Generation Sequencing (NGS) Market
The Latin American Next-Generation Sequencing (NGS) Market is predicted to produce a decent CAGR during the forecast period. Brazil is one of the leading countries, followed by Mexico, Argentina, and Columbia.
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Asia Pacific Next-Generation Sequencing (NGS) Market
The Asia Pacific is projected to have a substantial growth rate throughout the forecast period. In Asia Pacific region, economies are allowing emerging innovative products enhancing the growth of the market. Likewise, India, China, and Japan are predicted to contribute intentionally to the Next-Generation Sequencing (NGS) Market growth.
Middle East and Africa Next-Generation Sequencing (NGS) Market
The Middle East and Africa Next-Generation Sequencing (NGS) Market is predicted to have slow growth during the forecast period 2021-2029. The development of the market is accredited owing to the lacking healthcare infrastructure, mainly in the African region.
Competitive Landscape and Key Companies Profiled in the Global Next-Generation Sequencing (NGS) Market:
The Next-Generation Sequencing (NGS) Market is highly competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Agilent Technologies, Bio-Rad Laboratories Inc., DNASTAR Inc., Eurofins Scientific, F. Hoffmann-La Roche Ltd, Illumina Inc., Macrogen Inc., Pacific Biosciences of California Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc. among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Next-Generation Sequencing (NGS) Market globally. For instance, in August 2020, Guardant Health Inc. received the United States Food and Drug Administration (FDA) approval for Guardant360 CDx, the first liquid biopsy companion diagnostic that also uses next-generation sequencing (NGS) technology for tumor mutation profiling, also known as comprehensive genomic profiling (CGP), in patients with any solid malignant neoplasm (cancerous tumor).
Table of Content – Next Generation Sequencing (NGS) Market
- Methodology and Scope
- Research Methodology
- Research Objective and Scope of the Report
- Market Definition and Overview
- Executive Summary
- Global Dynamics
- Industry Analysis
- By Product
- By Technology
- By Application
- By End-User
- By Region
- Competitive Landscape
- Company Profiles
- Appendix
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