Global Next Generation Sequencing (NGS) Market is Growing with a CAGR of 17.1% in the Forecast Period of 2022 to 2029

 

Global Next Generation Sequencing (NGS) Market is growing with factors such as decrease in the cost of genetic sequencing per base, increase in the adoption of genome-focused pharmacology, wide product portfolio offered by major player also acts as a major factor for the growth of the market. In addition, the use of next generation sequencing in drug development and increased trend towards personalized medication have also given a boom to the global next generation sequencing (NGS) market.

However, the factors such as the high cost of instruments and difficulty in clinical NGS data analysis are hampering the growth of the global next generation sequencing (NGS) market.

Global Next Generation Sequencing (NGS) Market Scenario      

According to Data Bridge Market Research, the market for global next generation sequencing (NGS) in North America has the highest market share followed by Europe and Asia-Pacific. Market leader is Illumina, Inc., which accounts an estimated market share of approximately 26.10% in the global market. The company has gained outstanding sale by providing novel next generation sequencing (NGS) products.

  • In November 2021, Illumina Inc., announced a partnership with Sequoia Capital China to establish first start-ups to join Genomics Incubator in China. This will increase the company’s research and development plans towards Genomics and has supported the company to establish genomics library in China.

Next Generation Sequencing (NGS) Market

Trends Impacting the Market

Now the question is which other regions Illumina, Inc., BGI (A Subsidiary of BGI Group), and Thermo Fisher Scientific Inc. are targeting? Data Bridge Market Research has forecasted a large growth in North America next generation sequencing (NGS) market and the market leaders targeting U.S. and Canada to be their next pocket revenue for 2022.

The next generation sequencing (NGS) market is becoming more competitive with companies like Illumina, Inc., BGI (A Subsidiary of BGI Group), and Thermo Fisher Scientific Inc. These are the top dominating companies in next generation sequencing (NGS) market and have launched novel products, services and consumables in the market. The data bridge market research new reports highlight the major growth factors and opportunities in the global next generation sequencing (NGS) market.

For more analysis on the global next generation sequencing (NGS) market request for a briefing with our analysts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-next-generation-sequencing-ngs-market

Next Generation Sequencing (NGS) Market Developments  

  • In February 2021, QIAGEN announced a partnership with INOVIO to develop next generation sequencing (NGS) companion diagnostic for INOVIO’s VGX-3100 for advanced cervical dysplasia. This has increased the company portfolio towards NGS and increase the revenue of the company.
  • In October 2021, ThermoFisher Scientific Inc. announced that it has launched Applied Biosystem QuantSudio Absolute Q-Digital PCR System, which is a designed to provide highly accurate results in genetic analysis. The digital PCR is already in use for monitoring cancer driven mutations in liquid biopsy. This has helped he company to increase its product portfolio.
  • In January 2021, Oxford Nanopore Technologies plc and NVIDIA collaborate to partner the DGX AI compute system with ultra-high throughput PromethION sequencer. This was the world’s most powerful sequencer that supports real-time analyses at scale, and can also analyse any length fragment of DNA/RNA. This helped in exchange of technologies and is expected to help the company in future expansion and plans.

Scope of the Next Generation Sequencing (NGS) Market

Global next generation sequencing (NGS) market is segmented on the basis of countries into the U.S., Canada, Mexico, U.K., Germany, Belgium, France, Spain, Italy, Netherlands, Switzerland, Russia, Turkey, Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific, South Africa, Rest of Middle East and Africa, Brazil, and Rest of South America.

All country based analysis of the global next generation sequencing (NGS) market is further analyzed based on maximum granularity into further segmentation. On the basis of product, the global next generation sequencing (NGS) market is segmented into instrument, consumables and services. On the basis of application, the global next generation sequencing (NGS) market is segmented into diagnostic, drug discovery, biomarker discovery, precision medicine and agriculture & animal research. On the basis of end user, the global next generation sequencing (NGS) market is segmented into hospital & Clinics, research centers and academic & research institutes, pharmaceutical & biotechnology companies.

To know more about the study- https://www.databridgemarketresearch.com/reports/global-next-generation-sequencing-ngs-market

Key Pointers Covered in Next Generation Sequencing (NGS) Market Industry Trends and Forecast to 2029

  • Market Size
  • Top to Bottom Market Analysis
  • Recent Developments for Market Competitors
  • Recent Market Value for Different Countries
  • Market value and over view of Next generation sequencing (NGS) market
  • Company profiling of top eight players of Next generation sequencing (NGS) market

Key Market Competitors Covered in the Report

  • Thermo Fisher Scientific Inc.
  • Agilent Technologies, Inc.
  • QIAGEN
  • Illumina, Inc.
  • Bio-Rad Laboratories, Inc.
  • Roche Sequencing (A subsidiary of F. Hoffman La Roche)
  • BGI  (A subsidiary of BGI Group)
  • Oxford Nanopore Technologies plc
  • MACROGEN CO., LTD.
  • DNASTAR
  • Geneious
  • Partek Incorporated
  • PerkinElmer Inc.
  • Takara Bio Inc.
  • bioMérieux SA
  • Pacific Biosciences of California, Inc.
  • GENEWIZ
  • 10x Genomics
  • New England Biolabs
  • Hamilton Company

Above are the key players covered in the report, to know about more and exhaustive list of next generation sequencing (NGS) companies’, contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-next-generation-sequencing-ngs-market

Research Methodology: Global Next Generation Sequencing (NGS) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Manufacturer, Geneticists, Healthcare Industry, Scientists, Research Laboratories
  • Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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