Next-Generation Sequencing (NGS) Market Size To Hit US$ 48.9 Billion By 2028

The latest report published by IMARC Group, titled "Next-Generation Sequencing (NGS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global next-generation sequencing (NGS) market size reached US$ 17.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.9 Billion by 2028, exhibiting a growth rate (CAGR) of 18.5% during 2023-2028.

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Next-Generation Sequencing (NGS) Market Trends:

The growing product application usage in clinical diagnosis and the rising use of genetic maps to analyze genes are primary factors creating a positive outlook for the market. Moreover, the burgeoning healthcare expenditure and rapid technological advancements in sequencing are accelerating the market growth. Furthermore, the surging prevalence of cancer has increased the use of NGS technologies to introduce non-invasive cancer biomarkers for real-time cancer detection and monitoring, which is providing a significant boost to the market growth.

In line with this, key players are integrating cloud-computing systems with NGS for enhanced data security and management, which is boosting the market growth. Apart from this, the rising investments in research and development (R&D) activities and the increasing geriatric population are positively supporting the market growth. Other factors, such as the increasing emphasis on precision medicine and the potential to improve patient outcomes, the development of single-molecule sequencing, nanopore sequencing, and improved data analysis tools, and reducing cost of sequencing, are augmenting the market growth.

Competitive Landscape With Key Players:

The competitive landscape of the next-generation sequencing market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Agilent Technologies
• Becton Dickinson and Company
• 10x Genomics
• BGI Group
• Eurofins Scientific
• F. Hoffmann-La Roche AG
• Illumina Inc.
• Genewiz, Macrogen
• Oxford Nanopore Technologies
• Pacific Biosciences
• PerkinElmer
• Thermo Fisher Scientific
• Qiagen N.V.
• GenapSys Inc.

Key Market Segmentation:

The report has segmented the global next-generation sequencing market based on sequencing type, product type, technology, application, end-user and region.

Breakup by Sequencing Type:

• Whole Genome Sequencing
• Targeted Resequencing
• Whole Exome Sequencing
• RNA Sequencing
• CHIP Sequencing
• De Novo Sequencing
• Methyl Sequencing
• Others

Breakup by Product Type:

• Instruments
• Reagents and Consumables
• Software and Services

Breakup by Technology:

• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• Single-Molecule Real-Time Sequencing
• Nanopore Sequencing
• Others

Breakup by Application:

• Drug Discovery and Personalized Medicine
• Genetic Screening
• Diagnostics
• Agriculture and Animal Research
• Others

Breakup by End-User:

• Academic Institutes & Research Centers
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2039&flag=C

Industry Definition and Application:

Next-generation sequencing (NGS) is a parallel sequencing technique that provides extremely high throughput, scalability, and speed. The nucleotide sequence of entire genomes or specific DNA or RNA portions can also be ascertained using this approach. It involves various procedures, including single-molecule real-time (SMRT), sequencing by synthesis (SBS) and ion semiconductor, and nanopore sequencing. It allows the simultaneous examination, identification, and study of a variety of genomic characteristics in a single sequencing run, due to which it is witnessing a considerable surge in demand in the pharmacogenomics industry.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.