Next Generation Sequencing Market was estimated to be USD 6.8 billion in 2022. It is projected to reach USD 32.7 billion by 2030, exhibiting a remarkable compound annual growth rate (CAGR) of 21.7% during the forecast period from 2023 to 2030.
NGS, a cutting-edge technology in the field of genetic analysis, has witnessed significant growth and is poised for even greater expansion in the coming years. This surge can be attributed to the increasing demand for personalized medicine, advancements in genomic research, and the rising prevalence of chronic diseases.
The remarkable growth trajectory of the NGS market is driven by several factors. Firstly, the growing adoption of NGS in clinical diagnostics and research applications has revolutionized the field of genomics. The ability of NGS to rapidly sequence large volumes of DNA has paved the way for more accurate and comprehensive analysis, enabling researchers and healthcare professionals to gain deeper insights into genetic variations and their implications on human health.
Furthermore, the declining costs associated with NGS technologies have made it more accessible to a wider range of users, including academic institutions, pharmaceutical companies, and clinical laboratories. This affordability factor has played a pivotal role in driving the market growth, as it has encouraged greater adoption and utilization of NGS in various sectors.
Moreover, the increasing prevalence of chronic diseases, such as cancer and genetic disorders, has created a pressing need for advanced diagnostic tools that can provide precise and personalized treatment options. NGS has emerged as a powerful tool in this regard, offering the potential to identify genetic mutations and variations that can guide targeted therapies and improve patient outcomes.
Geographically, North America currently dominates the NGS market, owing to the presence of well-established healthcare infrastructure, extensive research activities, and favorable government initiatives. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing investments in healthcare infrastructure, rising awareness about personalized medicine.
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KEY MARKET SEGMENTATION:
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
- Research Studies
- Clinical Investigation
- Infectious Diseases
- Inherited Diseases
- Idiopathic Diseases
- Non-Communicable/Other Diseases
- ReProduct & Serviceive Health
- NIPT
- Aneuploidy
- Microdeletions
- PGT
- Newborn Genetic Screening
- Single Gene Analysis
- 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
Major Players Listed in the Report are as Follows:
Illumina, F. Hoffman-La Roche Ltd., QIAGEN, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies, PierianDx, Genomatix GmbH, DNASTAR, Inc., Perkin Elmer, Inc., Eurofins GATC Biotech GmbH, BGI, and Others.
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