Next Generation Sequencing Market to Reach $34 bn By 2028 Early disease diagnosis and high cancer prevalence due to increased attention

The Next-generation Sequencing (NGS) Market to go digitally exponential ways

Next-generation Sequencing (NGS) Market: Introduction

Next generation sequencing (NGS) is a massively parallel sequencing technology, which offers scalability, ultra-high throughput, and high speed to determine the order of nucleotides in entire genome. DNA pre-sequencing is one of the most significant steps in the overall sequencing protocol as it involves preparation of sample for the subsequent sequencing reaction. NGS is steadily being integrated into clinical laboratory analysis, testing, and diseases diagnostics in healthcare sectors, globally. NGS has been widely used in pharmacogenomics to accelerate the drug discovery process.

The growth of the global next-generation sequencing market is primarily driven by the growth of genome mapping programs. increased application of next-generation sequencing; increased health care spending; Technological advances in sequencing platforms.

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COVID-19 Impact on the Next generation Sequencing Market
The COVID-19 pandemic has reduced the movement of people, goods and services around the world, disrupted supply chains, limited sales operations, marketing activities and customer field support, and delayed delivery and delivery of products to customers. As a result, many companies experienced a decline in sales of sequencing consumables, sequencing services, and instrument services in 2020. However, we see a resurgence in test numbers as countries gradually ease movement restrictions.

Driver: Reduced genome sequencing costs
The availability of advanced, efficient, and accurate NGS systems at low cost and reduced genome sequencing costs have significantly improved the adoption of modern NGS technologies worldwide. For example, Illumina released the iSeq benchtop sequencer in 2018, enabling NGS genome sequencing for ~USD 100 (sequencing costs USD 25-150 per sample). This launch occurred shortly after the introduction of the NovaSeq platform in 2017. It made genome sequencing possible for $1,000 USD (as of 2018).

Restraint: End-user budget constraints in developing countries
Developing countries rely mainly on external funding and are primarily responsible for academic R&D. Several academia and research institutions face budget constraints while purchasing high-end and premium-priced equipment and technology, despite continued efforts by government and private institutions to fund research around the world. This hinders the adoption of technologies such as NGS in developing countries.

Opportunity: Application of NGS in precision medicine and molecular diagnostics
In personalized medicine, NGS tools are used to recognize gene expression based on patient characteristics that will help advance precision medicine. The discovery of new biomarkers for various diseases, particularly cancer, has revolutionized the field of medical diagnosis. Continued advances in sequencing technology and a better understanding of genomics have increased the effectiveness of biomarkers in disease detection.

Next-generation Sequencing (NGS) Market: Segmentation

Based on Product Type Next-generation Sequencing (NGS) market is segmented into

• NGS Consumables
• Sequencing Services
• Presequencing Products & Services
• NGS Platforms
• Bioinformatics
• Services for NGS Platforms

Based on the Application Next-generation Sequencing (NGS) market is segmented into

• Diagnostics
• Drug Discovery
• Agricultural & Animal Research
• Other Applications

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Next-generation Sequencing (NGS) Market: Regional Overview

North America held the largest share of the next-generation sequencing market in 2020.
Favorable initiatives by government and private institutions to develop and adopt NGS technologies, widespread adoption of NGS diagnostics in the region, increase NGS-based research and clinical applications in the region, increase research in cancer and raise awareness of NGS services Here is what it looks like: Some of the factors driving regional market growth.

Next-generation Sequencing (NGS) Market: Market participants
Examples of some of the market participants in the global Next-generation Sequencing (NGS) market identified across the value chain include:
• Illumina (US)
• Thermo Fisher Scientific (US)
• PerkinElmer (US)
• BGI Group (China)
• Agilent Technologies (US)
• Eurofins Scientific (Luxembourg)
• Pacific Biosciences (US)
• Oxford Nanopore Technologies (UK)
• QIAGEN (Netherlands)
• F. Hoffmann-La Roche AG (Switzerland)

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