In recent years, next generation sequencing is a technique that employs massive parallelism in sequencing millions or even billions of DNA strands. This method is also known as high throughput sequencing. NGS is less dependent on fragment-cloning strategies that are used in Sanger genome sequencing. The advantages of NGS over Sanger’s sequencing method include low cost, high accuracy and speed, precise results even if small amounts of samples are used. Thus, NGS is widely used in biomarker discovery, cancer studies, personalized medicine, agriculture and animal studies, etc. The Research report on Next Generation Sequencing Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis. It also provides and a lot of business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps’ Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.
Global Next Generation Sequencing Market size was valued at USD 7.82 billion in 2022 and is poised to grow from USD 9.27 billion in 2023 to USD 36.04 billion by 2031, growing at a CAGR of 18.5% in the forecast period (2024-2031). Global urbanization and rapid industrialization have increased the need for new market Growth. This has prompted a rise in the use of Next Generation Sequencing. Additionally, massive amounts of money are being spent by governments and the private sector globally on Next Generation Sequencing industry, which is further boosting the market’s expansion. The amount that regional governments are investing to improve the current investment is increasing as part of their global market plans. The whole research report on the Next Generation Sequencing market concentrated on the valuable data and various other factors. Additionally, the report delivers a comprehensive overview, pie charts, tables, diagrams, and tables to assist the growth of the Next Generation Sequencing market.
Based on our study, out of the segment of sequencing, WGS is expected to exhibit a high market dominance rate soon. Out of all the types of products, the reagents and consumables are expected to dominate the market for the given time frame. However, within the end-user spectrum, the academic institutes and research center segment is expected to show the strongest market dominance in the GNGS industry throughout the forecast period.
- Product & Service – NGS Consumables, Sequencing Services (Exome & Targeted Resequencing and Custom Panels, RNA Sequencing, DE NOVO Sequencing, Chip sequencing, Whole-genome sequencing, Methyl sequencing, Other sequencing services), Pre-Sequencing Products & Services (Library preparation and target enrichment, Quality control), NGS Platforms (Illumina [NovaSeq systems, NextSeq systems, MiSeq systems, iSeq 100 systems, MiniSeq systems], Thermo Fisher Scientific, Oxford Nanopore Technologies, Pacific Biosciences, Other NGS Platforms), Bioinformatics (NGS Data Analysis Services, NGS Data Analysis Software and Workbenches, NGS Storage, Management, And Cloud Computing Solutions), and Services for NGS Platforms
- Technology – Sequencing By Synthesis, Ion Semiconductor Sequencing, Nanopore Sequencing, Single-molecule Real-time Sequencing, and Other Sequencing Technologies
- Application – Diagnostics (Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Other Diagnostic Applications), Drug Discovery and Development (Pharmacogenomics, Other Drug Discovery and Development Applications), Agricultural and Animal Research, and Other Applications
- End User – Academic Institutes And Research Centers, Pharmaceutical And Biotechnology Companies, Hospitals And Clinics, Reference Laboratories, and Other End Users
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Profitable players of the Next Generation Sequencing market are:
Illumina Inc. (US)
Thermo Fisher Scientific, Inc. (US)
PerkinElmer Inc. (US)
BGI Group (China)
Agilent Technologies Inc. (US)
Eurofins Scientific SE (Luxembourg)
Pacific Biosciences of California Inc. (US)
Oxford Nanopore Technologies (UK)
QIAGEN NV (Netherlands)
F. Hoffmann-La Roche AG (Switzerland)
GENEWIZ Inc. (US)
Psomagen, Inc. (South Korea)
10x Genomics Inc. (US)
Takara Bio (Japan)
Zymo Research (US)
NuGen Technologies (US)
Hamilton Company (US)
Beckman Coulter (US)
Becton, Dickinson, and Company (US)
Lucigen Corporation (US)
Novogene Co., Ltd. (China)
Essential regions of the Next Generation Sequencing market are:
- Next Generation Sequencing North America Market includes (Canada, Mexico, USA)
- Next Generation Sequencing Europe Market includes (Germany, France, Great Britain, Italy, Spain, Russia)
- Next Generation Sequencing Asia-Pacific Market includes (China, Japan, India, South Korea, Australia)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa)
- Next Generation Sequencing South America Market includes (Brazil, Argentina)
Pivotal questions answered in the global Next Generation Sequencing market report:
- What are the major value propositions of the Next Generation Sequencing market?
- What are the new strategical frameworks that are mobilized among players to accomplish resilience in the wake of the COVID-19 pandemic?
- What technologies are expected to adopt the new regulations in Next Generation Sequencing report?
- What are the key collaborations generated by the vendors to consolidate their position in the Next Generation Sequencing market?
- What are the vital offerings new entrants concentrate on to implement unique positioning strategies?
- What are the futuristic prospects of the Next Generation Sequencing market across the globe?
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