Press release
Global Next-generation Sequencing Market is set to witness a lucrative growth of 16% by 2026 - Illumina, Thermo Fisher Scientific, Pacific Biosciences, Oxford Nanopore Technologies, Roche, QIAGEN
Rapid developments and innovations in all sequencing platforms, rising applications of next-generation sequencing, increasing demand for NGS services, development of advanced bioinformatics tools, growing investments in R&D, and rising occurrence of cancer and infectious diseases are some of the primary factors driving the growth of the next-generation sequencing market.
Technological Innovations in Sequencing Platforms to fuel its Market Growth and Demand
Contant Innovations in the sequencing technology have enabled to develop efficient, portable, and easy-to-use NGS sequencers to deliver rapid and precise results while also reducing turnaround times. Such technological advancements tend to provide a competitive edge to all the manufacturers and therefore, key players are specifically focusing on investing in research activities for new product developments to strengthen their position in the high growth market. Some of the technological innovations are listed as below:
• In March 2022, Element Biosciences Inc. launched its benchtop sequencer - Element AVITI System, which offers combination of performance, cost, and flexibility in an unprecedented way.
• In December 2021, Singular Genomics Systems, commercially launched its G4 platform, a powerful benchtop sequencer featuring a new high-performance chemistry with advanced engineering to give precision, flexibility, speed, and power for a wide range of applications, including cancer and immunology research.
Partnership and Collaborations to boost Adoption and Research Outcomes for Diagnostic Applications
The global next-generation sequencing market has witnessed a number of partnerships and collaborations by top market players to enhance the adoption of this technology for clinical industry applications and co-develop advanced diagnostic solutions. Some of the major initiatives that boost the adoption of next-generation sequencing for diagnostic applications are listed as below:
• In January 2022, Illumina entered into multi-year partnership with Agendia N.V., a precision oncology provider for breast cancer, to co-develop in vitro diagnostic (IVD) tests for oncology testing using NGS technology.
• In July 2021, Qiagen partnered with Sysmex for the development and marketing of cancer companion diagnostic (CDx) solutions, leveraging Sysmex's Plasma-Safe-SeqS technology for NGS.
Competitive Landscape Analysis: Leading Players Operating in the Next-Generation Sequencing Market
The global next-generation sequencing market is marked by the presence of key market players such as Illumina (US), Thermo Fisher Scientific (US), Pacific Biosciences (US), Oxford Nanopore Technologies (UK), Hoffmann-La Roche AG (Switzerland), QIAGEN (Germany), and others.
Get Detailed Research Insights on Next-Generation Sequencing Market Report @ https://meditechinsights.com/next-generation-sequencing-ngs-market/
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/
https://www.linkedin.com/company/medi-tech-insights/
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.
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