According to a report published by Allied Market Research, the global Next Generation Sequencing market is experiencing strong growth driven by advancements in genomic research and increasing adoption of precision medicine. The market was valued at $12,982.08 million in 2023 and is projected to reach $97,813.73 million by 2035. The industry is expected to grow at a CAGR of 18.3% from 2024 to 2035.
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Advanced technological advancements in NGS, increasing applications of NGS, and proliferation of genome mapping programs are driving the growth of the global next-generation sequencing (NGS) market. On the other hand, regulatory issues regarding NGS-based research, the lack of qualified experts, and many ethical and legal regulations hinder growth to some extent. However, the rise in the importance of cloud computing and data management services can open the way for tremendous opportunities in the industry.
Major Market Players –
- Agilent Technologies, Inc
- BGI Group
- Hoffmann-La Roche AG
- Illumina Inc
- Precigen Inc., (Intrexon Bioinformatics Germany GmbH)
- Pacific Biosciences of California, Inc
- PerkinElmer, Inc.
- PierianDx Inc.
- Qiagen N.V.
- Thermo Fisher Scientific Inc.
Rise in technological progress, especially the nanopore system and NGS, increase in the number of collaborations and collaborations to promote the use of NGS in hospitals and research institutions, and increase in genome mapping programs across the world. For example, in June 2021, Labcorp, a global leader in life sciences, and OmniSeq, a molecular researcher at Rosewell Park Comprehensive Cancer Center, jointly announced the launch of OmniSeq INSIGHT, a next-generation sequencing system to improve right oncology. and improve patient outcomes. In addition, in 2020, Quest Diagnostic, the world’s largest database of clinical laboratory results, launched a next-generation automated sequencing engine to provide accurate genetic testing for inherited diseases.
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TABLE OF CONTENT –
CHAPTER 1 – INTRODUCTION:
1.1. Report description
1.2. Key market segments
1.3. List of key players profiled in the report
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2 – EXECUTIVE SUMMARY:
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3 – MARKET OVERVIEW:
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Market Share Analysis/Top Player Positioning
3.4. Porter’s Five Forces Analysis
3.5. Market Dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities…
3.6. COVID-19 Impact Analysis on the market
By product type, the food segment has the largest share in 2020 and is expected to maintain its dominance during the forecast period. This limitation is attributed to the fact that they are often used during the sample preparation process and other steps prior to NGS. The service sector is expected to grow at the highest CAGR of 19.3% during the forecast period.
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The next generation sequencing market is expected to witness a significant growth in the coming years. This market has gained interest of the healthcare and medical sectors owing to increased prevalence of hypertension throughout the globe. Furthermore, the global next generation sequencing market is segmented on the basis of product type, end user, and region. leading market players have been introducing various strategies to help enterprises move their on-premise models to on-demand models.
Frequently Asked Questions?
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About Us –
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various research data tables and confirms utmost accuracy in our market forecasting. Each and every us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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