BROOKLYN, NY, USA, September 4, 2023/EINPresswire.com/ — The latest report published by IMARC Group, titled “Next-Generation Sequencing (NGS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Market Overview:
The global next-generation sequencing (NGS) market size reached US$ 17.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.9 Billion by 2028, exhibiting a growth rate (CAGR) of 18.5% during 2023-2028.
Next generation sequencing (NGS), a revolutionary genomic technology, enables rapid and high-throughput DNA and RNA sequencing. Unlike traditional methods, NGS simultaneously sequences multiple fragments, expediting the deciphering of genetic information. NGS finds extensive application in genomics research, clinical diagnostics, and personalized medicine. It plays a pivotal role in unraveling complex genetic variations, understanding disease mechanisms, and identifying potential therapeutic targets. By offering a comprehensive view of an organism’s genetic makeup, NGS has transformed fields like oncology, microbiology, and evolutionary biology. The scalability, speed, and cost-effectiveness of NGS continue to drive advancements in biological sciences, contributing to breakthroughs in understanding genetics and disease.
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Next-Generation Sequencing (NGS) Market Trends:
Rapid technological evolution is leading to enhanced sequencing speed, accuracy, and cost-efficiency which represents one of the key factors driving the growth of the market across the globe. Continuous advancements in sequencing platforms, chemistry, and data analysis methods are broadening the accessibility of NGS, which is attracting researchers and clinicians alike, thus boosting the growth of the market.
The market is also driven by the rising use of NGS in clinical diagnostics, particularly in identifying genetic mutations associated with hereditary diseases, cancer, and rare disorders. Its capability to simultaneously analyze multiple genes or even whole exomes/genomes aids in precise disease diagnosis, prognosis, and treatment selection which is fueling the growth of the market. In line with this, the exponential growth of sequencing data necessitated the development of sophisticated bioinformatics tools and data analysis pipelines which is propelling the growth of the market. The emergence of user-friendly software simplifies data interpretation, which is making NGS results more accessible to researchers with diverse backgrounds, thus facilitating the growth of the market across the globe.
Key Market Segmentation:
The report has segmented the global next-generation sequencing market based on sequencing type, product type, technology, application, end-user and region.
Breakup by Sequencing Type:
• Whole Genome Sequencing
• Targeted Resequencing
• Whole Exome Sequencing
• RNA Sequencing
• CHIP Sequencing
• De Novo Sequencing
• Methyl Sequencing
• Others
Breakup by Product Type:
• Instruments
• Reagents and Consumables
• Software and Services
Breakup by Technology:
• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• Single-Molecule Real-Time Sequencing
• Nanopore Sequencing
• Others
Breakup by Application:
• Drug Discovery and Personalized Medicine
• Genetic Screening
• Diagnostics
• Agriculture and Animal Research
• Others
Breakup by End-User:
• Academic Institutes & Research Centers
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Competitive Landscape With Key Players:
The competitive landscape of the next-generation sequencing market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Agilent Technologies
• Becton Dickinson and Company
• 10x Genomics
• BGI Group
• Eurofins Scientific
• F. Hoffmann-La Roche AG
• Illumina Inc.
• Genewiz, Macrogen
• Oxford Nanopore Technologies
• Pacific Biosciences
• PerkinElmer
• Thermo Fisher Scientific
• Qiagen N.V.
• GenapSys Inc.
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
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IMARC Services Private Limited
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