Next Generation Sequencing Market Size to grow by USD 4610.4 million between 2024-2028
According to a research report “ Next Generation Sequencing Market” by End-user (Academic research, Clinical research, Pharmaceutical and biotechnology companies, Others) Product (Consumables, Equipment) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 4610.4 million, at a CAGR of 14.49% during the forecast period. The next generation sequencing (NGS) market has experienced significant advancements, with innovative techniques and the establishment of a comprehensive human genome database. Leading vendors, including Illumina, QIAGEN, Thermo Fisher Scientific, Bio-Rad Laboratories, Danaher, and PerkinElmer, are capitalizing on these developments by providing swift diagnostic services and the ability to identify mutations and disorders in human gene sequences through the utilization of the complete human genome. NGS technology offers substantial cost savings in the execution of sequential studies and boasts increased variant detection power and sensitivity. This is achieved by simultaneously sequencing millions of DNA fragments per run compared to traditional Sanger sequencing technology..
Browse market data tables, figures, and in-depth TOC on “Next Generation Sequencing Market” by End-user (Academic research, Clinical research, Pharmaceutical and biotechnology companies, Others) Product (Consumables, Equipment) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample
By End-user, the Academic research segment is projected to dominate the market size in 2024
The next generation sequencing (NGS) market is characterized by various end-user segments, with academic research institutions being a significant consumer base. These institutions, including universities and research organizations, leverage NGS technologies for diverse applications, such as fundamental research, drug discovery, personalized medicine, and clinical diagnostics. NGS enables researchers to expeditiously sequence vast amounts of genetic data, facilitating the examination of genetic variations and a deeper comprehension of disease mechanisms. Key drivers fueling the adoption of NGS in academic research are the cost reduction in sequencing, the accessibility of user-friendly software and analytical tools, and the escalating demand for personalized and precision medicine.
By Product, Consumables segment is expected to hold the largest market size for the year 2024
The Next Generation Sequencing (NGS) consumables market segment comprises assay kits, buffers, reagents, and test kits, which play a crucial role in the process of breaking apart DNA strands. This segment has experienced substantial growth due to the repeated demand for a diverse range of NGS consumables to cater to various testing requirements. Key players in this segment include QIAGEN, Illumina, PerkinElmer, Oxford Nanopore Technologies, and F. Hoffmann-La Roche. The availability of a vast array of kits, panels, and reagents facilitates the construction of DNA libraries for NGS. NGS libraries are generated by fragmenting genomic DNA samples and attaching specialized adapters to the fragmented DNA ends.
North America is forecasted to hold the largest market size by region in 2024
The Next Generation Sequencing (NGS) market is experiencing significant growth due to the increasing demand for advanced genomic analysis in various industries, including healthcare, agriculture, and research. NGS technology enables faster, more accurate, and cost-effective sequencing of DNA and RNA, offering valuable insights into genetic information. Companies are investing heavily in this sector to develop innovative solutions, expand their product portfolios, and capture a larger market share. The market is expected to continue its robust growth trajectory in the coming years.
The Next Generation Sequencing Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Next Generation Sequencing (NGS) market is witnessing significant growth due to the increasing demand for genomic data in various applications, including drug discovery and diagnostics. Ion semiconductor technologies, such as ION Genestudio Systems, ION Proton Systems, ION PGM Systems, Miniseq Systems, Miseq Systems, Nextseq Systems, and Novaseq Systems, developed by Thermo Fisher Scientific, are leading the NGS market. These sequencing platforms offer high-throughput, accurate, and cost-effective solutions for generating genomic data. NGS technologies are revolutionizing the field of personalized medicine and precision medicine by enabling the identification of biomarkers for cancer and genetic disorders. Sanger sequencing, though still in use, is gradually being replaced by NGS due to its limitations in throughput and cost. RNA sequencing is another application of NGS that is gaining popularity in the research community. Pacific Biosciences, a major player in the NGS market, offers long-read sequencing technologies that provide more comprehensive genomic information. The integration of NGS with genomic technologies is expected to drive the growth of the market in the coming years. The potential applications of NGS in drug discovery and diagnostics are vast, and the market is expected to continue its upward trajectory.
Market Research Overview
The Next Generation Sequencing (NGS) market is witnessing significant growth due to the increasing demand for genome sequencing in various applications such as drug discovery, diagnostics, and research. NGS technologies, including Nanopore, Single-molecule real-time sequencing (SMRT), Ion semiconductor, Pyrosequencing, Sequencing by ligation, and Sequencing by synthesis, are revolutionizing the field of genomic data generation. Key players in the market include Thermo Fisher Scientific, Pacific Biosciences, and Oxford Nanopore Technologies. Thermo Fisher Scientific offers ION Genestudio Systems, ION Proton Systems, ION PGM Systems, Miniseq Systems, Miseq Systems, and Nextseq Systems, while Pacific Biosciences provides Sequel Systems and RS II Systems. Oxford Nanopore Technologies offers the MinION and PromethION platforms. NGS technologies are used in clinics, hospitals, biotechnology, pharmaceutical, clinical research centers, and academic institutions for genotyping, diagnostics, and personalized medicine. They are used for sequencing DNA and RNA, identifying biomarkers for cancer and genetic disorders, and advancing precision medicine. NGS services and consumables are also in high demand. Bioinformatics plays a crucial role in NGS data analysis. Roots Analysis projects the NGS market to reach USD32.5 billion by 2025, growing at a CAGR of 13.5%. The market growth is driven by the increasing demand for genomic data in various applications and the continuous advancements in NGS technologies and services.
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