Next-Generation Sequencing (NGS) Market is estimated to be US$ 52.40 billion by 2030 with a CAGR of 19.8% during the forecast period

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Published Date: June 2023

Global Next-Generation Sequencing (NGS) Market accounted for US$ 8.46 billion in 2020 and is estimated to be US$ 52.40 billion by 2030 and is anticipated to register a CAGR of 19.8%. Next-generation sequencing (NGS) is a massively parallel sequencing technology that can establish the order of nucleotides in a whole genome with scalability, ultra-high throughput, and fast speed. Because it includes preparing the sample for the subsequent sequencing reaction, DNA pre-sequencing is one of the most important processes in the total sequencing protocol. In the global healthcare sector, NGS is steadily being integrated into clinical laboratory analysis, testing, and disease diagnoses. In pharmacogenomics, NGS has been widely employed to speed up the drug discovery process.

The report " Global Next-Generation Sequencing (NGS) Market, By Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing and Others), By Application (Drug Discovery, Personalized Medicine & Genetic Screening, Disease Diagnosis, Agriculture & Animal Research and Others), By End User (Hospitals, Research Centers Pharma & Biotech Firms and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’

Key Highlights:

The Thalassemia Gene Detection Kit (Combinatorial Probe-Anchor Synthesis Sequencing Method), which can be used for the genetic diagnosis of á, â thalassemia and other hemoglobinopathies as well as general population carrier screening, got CE mark approval in January 2021.
The Oncomine Dx Target Test, an NGS-based companion diagnostic (CDx) test to identify RET fusion-positive, metastatic non-small cell lung cancer (NSCLC) patients receiving GAVRETO (pralsetinib), a targeted therapy developed by Blueprint Medicines, received premarket approval from the US FDA in September 2020.
Thermo Fisher Scientific will release hematology-oncology assays for the Ion Torrent Genexus System in August 2020, allowing for the investigation of DNA mutations and RNA fusion transcripts in myeloid samples in one day.

Analyst View:

Continuous technological advancements in sequencers have enabled the development of efficient, portable, and simple-to-use NGS platforms that can deliver fast and precise results while also reducing turnaround times. The introduction of such products and the technology that underpin them gives players an immediate competitive advantage; as a result, major corporations are increasingly focused on product research and development to increase their market positions and share.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Next-Generation Sequencing (NGS) Market, By Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing and Others), By Application (Drug Discovery, Personalized Medicine & Genetic Screening, Disease Diagnosis, Agriculture & Animal Research and Others), By End User (Hospitals, Research Centers Pharma & Biotech Firms and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”

Key Market Insights from the report:

Global Next-Generation Sequencing (NGS) Market accounted for US$ 8.46 billion in 2020 and is estimated to be US$ 52.40 billion by 2030 and is anticipated to register a CAGR of 19.8%. The global next-generation sequencing (NGS) market report segments the market on the basis of technology, application, end user, and region.

Based on Technology, Global Next-Generation Sequencing (NGS) Market is segmented into Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing and Others.
Based on Application, Global Next-Generation Sequencing (NGS) Market is segmented into Drug Discovery, Personalized Medicine & Genetic Screening, Disease Diagnosis, Agriculture & Animal Research and Others.
Based on End-User, Global Next-Generation Sequencing (NGS) Market is segmented into Hospitals, Research Centers Pharma & Biotech Firms and Others.
By Region, the Global Next-Generation Sequencing (NGS) Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Next-Generation Sequencing (NGS) Market:

The key players operating in the next-generation sequencing (NGS) market are Thermo Fisher Scientific, Inc., Illumina, Inc., QIAGEN LLC, PierianDx, Inc., F Hoffman-La Roche Ltd., Genomatix GmbH, Oxford Nanopore Technologies, Inc., Eurofins GATC Biotech GmbH, DNASTAR, Inc., Perkin Elmer, Inc. and Bio-Rad Laboratories, Inc.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period