Asia-Pacific Next Generation Sequencing (NGS) Market, By Product (Instruments, Consumables and Services), Applications (Diagnostics, Biomarker Discovery, Precision Medicine, Drug Discovery, Agriculture and Animal Research and Others), End User (Pharmaceutical & Biotechnology Companies, Research Centers & Academic and Government Institutes and Hospital & Clinics), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2029.
Market Analysis and Insights: Asia-Pacific Next Generation Sequencing (NGS) Market
Asia-Pacific next generation sequencing (NGS) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 19.8% in the forecast period of 2022 to 2029 and is expected to reach USD 6,039.51 million by 2029. Increasing adoption of genome focused pharmacology act as drivers for the next generation sequencing (NGS) market growth.
High-throughput sequencing, most widely regarded as the "next-generation" sequencing (NGS), is now integrated into routine clinical practice due to the numerous technical and functional developments, while early protocols relied on samples harvested outside of typical workflows in clinical pathology, standard formalin-fixed, paraffin-embedded specimens which can be used more regularly as starting material for NGS. In addition, protocols are being amassed for the analysis and interpretation of NGS data, as well as knowledge bases, allowing clinicians to act more easily on genomic information at the patient care point. The presence of wide range of products of the next generation sequencing used in the diagnosis of chronic diseases is satisfying the need of the healthcare facilities. The increased technological advancement leads to development of highly efficient next generation sequencing (NGS) in the market.
Major factors driving the growth of next generation sequencing (NGS) market are use of next generation sequencing in drug development and wide portfolio offered by major player and the factor which hampers the growth of the next generation sequencing (NGS) market includes high cost of next generation sequencing products and product recall.
The next generation sequencing (NGS) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the next generation sequencing (NGS) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Next Generation Sequencing (NGS) Market Scope and Market Size
The next generation sequencing (NGS) market is segmented on basis of product, applications, and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the next generation sequencing (NGS) market is segmented into instrument, consumables, and services. In 2022, instrument segment is expected to dominate the Asia-Pacific next generation sequencing (NGS) market as the market in Asia-Pacific is emerging and the companies are focusing towards extablishing a potentional market in the region.
- On the basis of application, the next generation sequencing (NGS) market is segmented into diagnostic, drug discovery, biomarker discovery, precision medicine, agriculture and animal research. In 2022, the diagnostic segment is expected to dominate the Asia-Pacific next generation sequencing (NGS) market due to the fact that countries such as China and Japan are using NGS in routine diagnosis and the market of NGS in diagnostic segment in India is niche but has potential to rise which drive the market
- On the basis of end user, the next generation sequencing (NGS) market is segmented into hospitals & clinics, research centers and academic & government institutes, pharmaceutical & biotechnology companies. In 2022, research center and academic & government institutes is expected to dominate the next generation sequencing (NGS) market as research related to next generation sequencing for chronic disease and personalized medicine is being conducted mainly by these institutes which is driving the segment growth.
Next Generation Sequencing (NGS) Market Country Level Analysis
The next generation sequencing (NGS) market is analyzed, and market size information is provided by the product, application and end user as referenced above.
The countries covered in the next generation sequencing (NGS) market report are China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, and rest of Asia-Pacific.
Instrument segment in China of Asia-Pacific region is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 because of increasing usage of next generation sequencing.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Next Generation Sequencing (NGS) Treatment is Boosting the Market Growth of Next Generation Sequencing (NGS) Market
The next generation sequencing (NGS) market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2020.
Competitive Landscape and Next Generation Sequencing (NGS) Market Share Analysis
Next generation sequencing (NGS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to next generation sequencing (NGS) market.
Some of the major companies which are dealing in the next generation sequencing (NGS) Agilent Technologies, Inc., ThermoFisher Scientific, Inc., QIAGEN, Illumina, Inc., Bio-Rad Laboratories, Inc., , BGI (A subsidiary of BGI Group), Oxford Nanopore Technologies plc, and among others domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the next generation sequencing (NGS) market.
For instance,
- In June 2020, Bio-Rad Laboratories, Inc. announced a partnership with Seegene, Inc., which is a global leader in multiplex molecular diagnostics and life science research, for the clinical development and commercialization of infectious disease products. This have given an opportunity to the company to increase its sales and product line globally.
Collaboration, product launch, business expansion, award and recognition, joint ventures, and other strategies by the market player is enhancing the company footprints in the next generation sequencing (NGS) which also provides the benefit for organization’s profit growth.
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