Next-Generation Sequencing (NGS) Market Size, Share, Growth Analysis and Future Trends 2023-2028

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:

Significant technological improvements, such as faster sequencing methods and enhanced data analysis tools, are driving the adoption of NGS which represents one of the key factors driving the growth of the market across the globe. The decreasing cost of sequencing makes NGS more accessible to various industries, including academic research, clinical diagnostics, and agriculture. The rising integration of NGS into clinical practice for personalized medicine, genetic screening, and diagnostic testing is propelling the market growth. Government initiatives, grants, and funding for genomics research act as catalysts for the market expansion.

The market is also driven by the increasing research and development (R&D) activities in areas like oncology, infectious diseases, and genetic disorders which are fueling the demand for NGS technologies. Collaborations between academic institutions, biotechnology firms, and pharmaceutical companies are fostering innovation and application of NGS which is contributing to the growth of the market. In addition to this, the growing awareness of genetic testing and personalized medicine among the public is creating a demand for NGS-based services which is boosting the growth of the market.

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

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.

Speak to an Analyst: https://www.imarcgroup.com/request?type=report&id=2039&flag=C

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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