Next Generation Sequencing Market Size | Industry Business Trends Prospects: Regional Demand Insights (2024-2032)

Next Generation Sequencing Market Research Report Information by Technology (Whole Exome Sequencing, Targeted Sequencing and Resequencing [DNA-based Targeted Sequencing & Resequencing and RNA-based Targeted Sequencing & Resequencing], and Whole Genome Sequencing), by Application (Oncology [Diagnostics and Screening, Companion Diagnostics], by End User (Hospitals & Clinics, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Forecast Till 2032

The next-generation sequencing (NGS) market represents a revolutionary frontier in genomics, playing a pivotal role in deciphering and analyzing DNA sequences with unprecedented speed and accuracy. NGS technologies enable the simultaneous sequencing of multiple DNA strands, facilitating applications such as genomic research, personalized medicine, High-Throughput Sequencing, and diagnostics. The market is propelled by the escalating demand for comprehensive genetic information, advancements in bioinformatics, and the declining costs associated with sequencing. NGS has significantly impacted various scientific disciplines, including oncology, rare genetic disorders, and infectious diseases, fostering breakthroughs in understanding the genetic basis of health and disease.

Technological innovations, such as single-molecule sequencing and long-read sequencing platforms, enhance the resolution and depth of genetic analysis, making NGS increasingly valuable for complex genomic studies. The market is characterized by a surge in collaborations between NGS technology providers, research institutions, and pharmaceutical companies, driving innovation and expanding the range of applications. The integration of NGS into clinical practice for molecular diagnostics and the burgeoning field of precision medicine further contribute to market growth.

As genomics continues to be a cornerstone in healthcare and life sciences, the NGS market is poised for continuous expansion. Ongoing efforts to simplify workflows, improve data interpretation, and address scalability challenges are expected to shape the future landscape of NGS technologies, positioning them as indispensable tools for unraveling the complexities of the human genome and advancing personalized healthcare.

The global next generation sequencing market overview is analyzed in the latest research report from Market Research Future (MRFR). The global next generation sequencing market’s historical trajectory, current standings, and future projections from 2023 to 2030 are described in the report, which also presents a detailed assessment of the economic background of the market and the major drivers and restraints affecting the market’s growth.

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Major drivers for the global next generation sequencing market include the increasing demand for the technology in next generation drug making and diagnostics. Drug development has become a teeming, active business in the last few years, with several smaller players making a mark in the market due to the relative ease of setting up drug manufacturing. This has allowed the market to capitalize on the commercial success of the products and evolve with new technological input, such as the development of accurate human tissue samples from scratch or from organic matter to test the effects of drugs more comprehensively and thoroughly. The ability of next generation sequencing to produce human genome sequences in a low amount of time has made it a valuable tool for researchers operating in the field of drug development.

The convenience provided by next generation sequencing in diagnostic applications is also likely to be a major driver for the global next generation sequencing market over the forecast period. The field of cancer diagnosis and drug development is likely to be highly fruitful for the next generation sequencing market over the forecast period, as governmental as well as private healthcare agencies are focusing more and more on cancer research in the hope of finding an effective cure for the disease. The high relevance of genomic sequencing to the development of cancer and further metastasis is likely to make next generation sequencing a vital tool for researchers looking to study the disease.

Competitive Analysis:

Leading players in the global next generation sequencing market include Eurofins Scientific, Oxford Nanopore Technologies Ltd., Macrogen Inc., Qiagen N.V., Agilent Technologies, PerkinElmer, BGI, Pacific Biosciences of California Inc., Thermo Fisher Scientific Inc., and Illumina Inc.

The potential of next generation sequencing in matching blood group antigens for transfusion is likely to be a major factor in the global next generation sequencing market’s development in the coming years. Blood donations are likely to increase in the coming years thanks to the growing awareness about the process in developing countries, leading to a need for rapid matching for smooth, speedy processing of transfusions. This is likely to remain a key driver for the global next generation sequencing market over the forecast period.

Segmentation:

The global next generation sequencing market report has been segmented on the basis of technology, service and product, application, enduser, and region.

On the basis of the type of technology, the market has been classified as whole genome sequencing, whole exome sequencing, CHIP sequencing, methyl sequencing, targeted resequencing, RNA sequencing and de novo sequencing.

On the basis of the type of service & product, the market has been classified as sample preparation, consumables, platforms and services for platforms, and sequencing services. The sample preparation segment is further sub-segmented into DNA fragmentation, end repair, A-tailing, size selection, library preparation & target enrichment, and quality control. The platforms and services for platforms are segmented into Illumina, Thermo Fisher Scientific, Pacific Biosciences, Oxford Nanopore Technologies, and others. The sequencing services are segmented into exome & targeted re-sequencing and custom panels, RNA-seq, whole-genome sequencing, and de novo sequencing.

On the basis of application, the market has been classified as drug discovery, genetic screening, diagnostics, agriculture and animal research, and others.

On the basis of endusers, the market has been segmented into academic institutes and research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and other endusers.

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Regional Analysis:

North America is anticipated to dominate the global next generation sequencing market over the forecast period, followed by Europe. The presence of a strong healthcare infrastructure in these two regions is likely to be a major driver for the next generation sequencing market over the forecast period. Asia Pacific is likely to exhibit rapid growth in the next generation sequencing market, while the Middle East and Africa and Latin America are not likely to be a dominant force in the global next generation sequencing market in the coming years.

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