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According to SNS Insider, the Next-Generation Sequencing (NGS) Market is expected to reach USD 40.97 billion by 2031 and grow at a CAGR of 22.07% over the forecast period of 2024-2031.
The next-generation sequencing (NGS) market is experiencing a period of phenomenal expansion, driven by its transformative impact on healthcare and scientific research. NGS technologies enable the rapid and precise analysis of entire genomes, revolutionizing our understanding of diseases, personalized medicine, and drug discovery. This analysis done by SNS Insider includes the current landscape of the NGS market, exploring its scope, regional variations, recent advancements by key players, and the key takeaways for the future.
Market Scope:
The NGS market includes a significant range of products and services. Core technologies include sequencers, consumables like reagents and chips, and bioinformatics software for data analysis. The market also caters to various applications, with a significant share dedicated to clinical diagnostics. NGS is transforming cancer diagnosis by enabling the identification of genetic mutations that drive tumor growth. Additionally, NGS plays a crucial role in non-invasive prenatal testing (NIPT), pharmacogenomics for tailored drug therapies, and infectious disease diagnostics. Research applications also fuel market growth, with NGS employed in fields like functional genomics, agricultural biotechnology, and metagenomics for studying microbial communities.
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List of Next Generation Sequencing Companies Profiled in Report:
- Oxford Nanopore Technologies
- PierianDx
- Genomatix GmbH
- DNASTAR Inc.
- Perkin Elmer Inc.
- Eurofins GATC Biotech GmbH
- BGI
- Illumina
- Hoffman-La Roche Ltd.
- QIAGEN
- Thermo Fisher Scientific Inc.
- Bio-Rad Laboratories Inc.
Regional Analysis:
The NGS market exhibits distinct dynamics across different regions. North America currently holds the dominant position, driven by strong research funding, advanced healthcare infrastructure, and a growing acceptance of personalized medicine. Europe follows closely, with a focus on innovative NGS technologies and stringent regulatory frameworks. The Asia Pacific region is demonstrating the most promising growth potential, fuelled by rising healthcare expenditure, increasing government investments, and a large patient population. However, challenges like limited reimbursement policies and fragmented markets in some Asian countries remain.
Next Generation Sequencing Industry Segmentation as Follows:
By Product
- Consumables
- Sample Preparation
- Target Enrichment
- Others
- Platforms
- Sequencing
- Data Analysis
By Technology
- WGS
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
- DNA-based
- RNA-based
By Workflow
- Pre-Sequencing
- NGS Library Preparation Kits
- Semi-automated Library Preparation
- Automated Library Preparation
- Sequencing
- NGS Data Analysis
- NGS Primary Data Analysis
- NGS Secondary Data Analysis
- NGS Tertiary Data Analysis
By Application
- Oncology
- Diagnostics and Screening
- Oncology Screening
- Sporadic Cancer
- Inherited Cancer
- Companion Diagnostics
- Other Diagnostics
- Oncology Screening
- Research Studies
- Diagnostics and Screening
- Clinical Investigation
- Infectious Diseases
- Inherited Diseases
- Idiopathic Diseases
- Non-Communicable/Other Diseases
- Reproductive Health
- NIPT
- Aneuploidy
- Microdeletions
- PGT
- Single Gene Analysis
- Newborn Genetic Screening
- NIPT
- HLA Typing/Immune System Monitoring
- Metagenomics
- Epidemiology & Drug Development
- Agrigenomics & Forensics
- Consumer Genomics
By End User
- Academic Research
- Clinical Research, Hospitals & Clinics
- Pharma & Biotech Entities
- Other Users
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Segment Analysis:
The next-generation sequencing (NGS) market provides to a diverse range of end users, each driving growth in specific segments. Pharmaceutical and biotechnology companies utilize NGS for drug discovery and development, particularly in targeted therapies. Research institutions leverage NGS for unravelling the genetic basis of diseases and advancing fundamental biological knowledge. Hospitals and diagnostic labs are increasingly adopting NGS for non-invasive prenatal testing, identifying infectious diseases, and tailoring treatment plans for cancer patients – personalizing medicine at the individual level. Even agricultural research and biosecurity applications are contributing to the market expansion, highlighting the broad reach and transformative potential of NGS across various end user segments.
Overview of Competitive Landscape:
The NGS market is characterized by fierce competition among leading players, constantly innovating to develop faster, more accurate, and cost-effective sequencing solutions. Illumina, Inc. stands out as a dominant force, with a comprehensive portfolio of NGS platforms and consumables. Other prominent companies include Thermo Fisher Scientific, Inc., Roche Diagnostics, Pacific Biosciences of California, Inc., and Agilent Technologies, Inc. These players are engaged in a constant race for innovation, launching new sequencers with increased throughput and read lengths. Additionally, collaborations between NGS companies and pharmaceutical giants are on the rise, focusing on companion diagnostics and the development of targeted therapies based on NGS data.
Key Takeaways:
- The NGS market presents a captivating picture of a rapidly evolving landscape with immense potential to revolutionize healthcare.
- The decreasing costs of sequencing, growing awareness of its benefits, and increasing adoption in clinical settings are all contributing to its exponential growth. As NGS technologies continue to advance and become more accessible, we can expect even more groundbreaking applications to emerge in diagnostics, drug discovery, and personalized medicine.
- The NGS market is poised to play an important role in shaping the future of healthcare, offering a future filled with possibilities for improved patient outcomes and a deeper understanding of human health.
Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Next Generation Sequencing Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Next Generation Sequencing Market Segmentation, By Service
Chapter 9 Next Generation Sequencing Market Segmentation, By Product
Chapter 10 Next Generation Sequencing Market Segmentation, By Technology
Chapter 11 Next Generation Sequencing Market Segmentation, By Workflow
Chapter 12 Next Generation Sequencing Market Segmentation, By Application
Chapter 13 Next Generation Sequencing Market Segmentation, By End User
Chapter 14 Regional Analysis
Chapter 15 Company profile
Chapter 16 Competitive Landscape
Chapter 17 Use Case and Best Practices
Chapter 18 Conclusion
Continued…
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