Next-Generation Sequencing (NGS) Services Market is expected to grow at a CAGR of 22.00% during the forecast period

Next-generation sequencing is a technology used aggressively by hospitals and clinics for disease analysis, testing, and diagnosis. Next-generation sequencing is used in drug development processes using a wide range of methods.

Data Bridge Market Research analyzes that the Next Generation Sequencing (NGS) Services market is expected to grow at a CAGR of 22.00% during the forecast period. This indicates that the market value, which was USD 6,588.68 million in 2021, would reach USD 32,335.31 million by 2029. "Whole genome sequencing" dominates the typical segment of next-generation sequencing services ( NGS). market due to the growing number of hospitals and research laboratories in developing regions and many initiatives undertaken by universities, academic and research institutes and research institutions to use this technology in identifying root causes diseases. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, price analysis, and regulatory framework.

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Some of the major players operating in the Next Generation Sequencing (NGS) Services market are Medtronic (Ireland), Ethicon US, LLC. (USA), Thermo Fisher Scientific Inc. (USA), Novo Nordisk A/S (Denmark), BD (USA), Stryker (USA), Boston Scientific Corporation (USA). (USA) United States), Luminex Corporation (United States), Eurofins Scientific SE (Luxembourg), PerkinElmer, Inc. (United States), QIAGEN (Germany), Macrogen Inc. (South Korea), GENEWIZ, Inc. (United States), United States), Illumina, Inc. (United States), Novogene Corporation (China), Abcam plc (United Kingdom), Merck KGaA (Germany), Promega Corporation (United States), Siemens (Germany) and GATC Biotech AG (Germany), among others.

Next Generation Sequencing (NGS) Services Market Dynamics
Drivers
Growing awareness of sequencing
Rising awareness about the benefits of next-generation sequencing is one of the major factors driving the growth of the market. Some advantages of next generation sequencing technology are low cost and price of sequencing technology, high accuracy, high speed and faster results and accuracy in results.

Research and development skills
Increasing spending on research and development skills, especially in developed and developing economies regarding medical instruments and devices, will create more lucrative growth opportunities in the market. Research and development skills conducted for the integration of advanced technologies in healthcare facilities and on the detection of infectious diseases are also supporting the growth rate of the market.

Government investments in health infrastructure
Increased funding from the federal government is expected to boost the growth rate of the market. Additionally, the growth and expansion of the healthcare sector, driven by public and private players, especially in developing economies, will create lucrative growth opportunities in the market. In addition, the high return on investment provided by research activities will also work in favor of the market.

In addition, the increasing adoption of companion diagnostics to increase the safety and effectiveness of therapies, the increase in the level of personal disposable income, the introduction of technology-based products in hospitals, the increase in investments for the development of advanced medical products and devices and the growing awareness of the benefits of multiplex testing, are positively affecting the growth rate of the market.

Opportunities

Additionally, increasing public-private funding for targeted research activities, increasing use of multiplex tests in companion diagnostics, increasing geriatric population base, and validation of biomarkers in molecular and protein diagnostics , along with the growing need for high throughput and automated testing systems all over the world will expand the profitable opportunities for market players during the forecast period of 2022 to 2029. clinical microbiology products and increasing per capita spending on healthcare will further increase the market growth rate in the future.

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Scope of the Global Next Generation Sequencing (NGS) Services Market

The Next Generation Sequencing (NGS) Services market is segmented on the basis of type, technology, application, and end-user. The growth among these segments will help you analyze weak growth segments in the industries and provide users with valuable market insight and market insights to help them make strategic decisions to identify major applications of the market.

Taper

Targeted sequencing/gene panels
RNA sequencing
de novo sequencing
Exome sequencing
CHiP - Sequencing
Whole genome sequencing
Methyl- Sequencing
Other services
Based on type, the market is segmented into sequencing/gene targeted panels, RNA sequencing, de novo sequencing, exome sequencing, chip sequencing, whole genome sequencing, methyl sequencing, and other services.

Technology

Sequencing by synthesis (SBS)
Ion Semiconductor Sequencing
Single Molecule Real-Time Sequencing (SMRT)
Nanopore sequencing
Based on technology, the market is segmented into sequencing by synthesis, ion semiconductor sequencing, single molecule real-time sequencing, and nanopore sequencing.

Application

Diagnostic
oncologists
reproductive health
Infectious diseases
Rare genetic diseases
Others
drug discovery
Discovery of biomarkers
Microbial genetics, agriculture and animal research
Other Apps
Based on application, the market is segmented into diagnostics, drug discovery, biomarker discovery, microbial genetics, agriculture, animal research, and other applications.

Final user

Academic and government institutes
Research centers
Hospitals and Clinics
Pharmaceutical and biotechnology companies
Other end users
On the basis of end user, the market is segmented into academic and government institutes and research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and other end users.

Regional Analysis/Overview of Next Generation Sequencing (NGS) Services Market
The Next Generation Sequencing (NGS) Services Market is analyzed and market size insights and trends are provided by country, type, technology, application and end-user as listed above. Countries Covered in the Next Generation Sequencing (NGS) Services Market Report these are the United States, Canada and Mexico in North America, Germany, France, the United Kingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain , Turkey and the rest of Europe in Europe. , China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, South Africa South of the South, Egypt, Israel, the resto of Middle East and Africa (MEA) in el cuadro de Middle East and Africa (MEA), Brazil, Argentina and the rest of North America as part of southern South America.

North America is leading the Next Generation Sequencing (NGS) Services market with a strong base of healthcare institutions, increased investment by key players in the growth of advanced devices, channels well-established distribution channels for manufacturers of test products and the growing number of research activities in this area. Region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to increased government outreach initiatives, increase in medical tourism, growth in research activities in region and the growing demand for quality medical care in the region.

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The country section of the report also provides individual market impact factors and regulatory changes in the country market which adds current and future market trends. Data points such as upstream and downstream value chain analysis, technology trends and porter's five forces analysis, case studies are some of the indicators used to forecast the market scenario for each page. In addition, the presence and availability of global brands and the challenges they face due to significant or rare competition from local and national brands, the impact of national tariffs and trade routes are considered while providing a analysis of national forecast data.

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