North America Next Generation Sequencing (NGS) Market to be Worth $13.7 Billion by 2030

According to a new market research report, "North America Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Targeted) Application (Reproductive, Oncology, Infectious) Technology (SBS, Nanopore, SMRT Seq) - Forecast to 2030," published by Meticulous Research®, the North America NGS market is expected to reach $13.7 billion at a CAGR of 16% from 2023 to 2030.

Next Generation Sequencing (NGS) is a technology used to sequence the orientation of nucleotides in genetic material. This technology has enabled the sequencing of DNA or RNA more quickly and at a lower cost than Sanger sequencing. Continuous developments in NGS technology are revolutionizing the field of personalized medicine, genetic diseases, and clinical diagnostics by providing the capability to sequence multiple individuals with variable genetic orientations simultaneously.

Download Free Report Sample Now: https://www.meticulousresearch.com/download-sample-report/cp_id=5607

The growth of the North America NGS market is mainly attributed to increasing cancer prevalence & increasing application of NGS in cancer treatment and research, declining cost of genome sequencing, technological advancements in sequencing procedures, increasing pharmaceutical R&D expenditure, a surge in genome mapping programs, and improvements in regulatory and reimbursement scenarios for NGS-based diagnostic tests. However, the high costs of NGS systems and associated consumables, availability of alternative technologies, low chances of identifying positive, actionable mutations for precision medicine, and ethical & legal issues related to NGS-based diagnosis retrain the growth of this market.

Increasing applications of NGS, rising adoption of bioinformatics and genomic data management solutions, and government initiatives for large-scale genomic sequencing projects are expected to offer significant market growth opportunities. However, the lack of skilled professionals and regulatory & standardization concerns in diagnostic testing are challenges to the growth of the North America NGS market.

Partnerships and collaborations by manufacturers to expand and improve product offerings, the development of portable sequencing technologies, and the increasing demand for NGS automation workstations are notable trends in the North America NGS market.

Increasing Applications of Next Generation Sequencing Technology Expected to Create Significant Opportunities for the NGS Market in North America

NGS technology has revolutionized genetic disease diagnostics with rapid, high-throughput, and cost-effective approaches. NGS technology can simultaneously analyze hundreds of genes, the whole exome, and even the whole genome, enabling researchers to understand the genetic heterogeneity of rare diseases. It can also allow for understanding unknown species and complex diseases. In recent years, technology has gained much traction in diagnosing infectious, immunological, and hereditary diseases. It is also widely used for non-invasive prenatal diagnosis and therapeutic decision-making for somatic cancers.

Have Any Query? Ask To Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5607

Next-generation sequencing (NGS) technologies, including DNA and RNA sequencing, provide 'omics' approaches to understanding individual cancers' genomic, transcriptomic, and epigenomic landscapes. NGS has great potential to enhance cancer diagnosis and care. With the use of NGS technology, various genomic aberrations can be screened simultaneously, such as common and rare variants, structural variations (e.g., insertions and deletions), copy-number variations, and fusion transcripts.

Additionally, NGS testing is increasingly being used for companion diagnostics. With the increasing prevalence of cancer, precision or personalized medicine is gaining traction in oncology, and developing effective therapies is becoming critical for researchers. Precision medicine is used to treat certain tumors to help determine which tests and treatments are the most effective. These medicines are sometimes used for individuals with certain cancers or at a higher risk of getting specific cancers. Precision medicine for cancer uses the unique genetic makeup of an individual patient and genetic information from the patient's tumors to discover and determine an appropriate and effective course of treatment.

NGS has gained much significance in clinical practice for oncology, reproductive health, Mendelian diseases, complex diseases, and infectious diseases. In the coming years, NGS is expected to diversify in other clinical areas, with a considerable reduction in sequencing costs. The technology is expected to show substantial penetration in applications such as liquid biopsies for the early detection and monitoring of cancer and reproductive health applications.

In addition, technological advancements in the field are expected to drive the development of faster, more accurate, and more portable NGS systems, which will expand applications in medical, agricultural, ecological, and other field-based settings. Advancements in sample preparation, liquid handling, bioinformatics, robotics, and miniaturization would help facilitate this process. Thus, the increasing applications of NGS technology are expected to create growth opportunities for the North America NGS market.

The report also includes an extensive assessment of the key growth strategies adopted by leading market players in the last four years. The key players operating in the North America NGS market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), 10X Genomics, Inc. (U.S.), and Beijing Genomics Institute (BGI) (China).

The North America NGS market study presents historical market data in terms of values (2021 and 2022), estimated current data (2023), and forecasts for 2030. The North America NGS Market is segmented based on Offering (Consumables [Sample Preparation Consumables {DNA Extraction and Amplification, Library Preparation & Target Enrichment, Quality Control}, Other Consumables], NGS Platforms/Instruments, Software, Services), Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Other Sequencing Types), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing, DNA Nanoball Sequencing), Applications (Clinical Applications [Reproductive Health, Oncology, Infectious Diseases, Other Clinical Applications], Research and Other Applications [Drug Discovery, Agriculture & Animal Research, Other Research Applications), End User (Hospitals and Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic Institutes & Research Centers, Other End Users), and Country. The study also evaluates industry competitors and analyzes the market at the country level.

Quick Buy - North America NGS Market - Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/98387564

Among the offerings, in 2023, the consumables segment is estimated to account for the largest share of the NGS market in North America. The high demand for consumables for sequencing procedures, increasing genome mapping programs, declining cost of genome sequencing, and rising demand for consumables among healthcare professionals for conducting NGS-based diagnostic treatment contribute to this segment's large market share.

Among the sequencing types, in 2023, the targeted genome sequencing segment is estimated to account for the largest share of the North America NGS market. Targeted sequencing eliminates the generation of redundant and irrelevant genetic variation, which can cloud or distract from actual clinical interpretation. Furthermore, targeted sequencing reduces the cost of sequencing significantly as compared to WGS and WES when sequencing of a large population is required. Additionally, targeted sequencing has been proven to successfully identify primary immunodeficiencies and specific gene-associated diseases. These factors contribute to the large market share of this segment.

Among the technologies, in 2023, the sequencing by synthesis (SBS) segment is estimated to account for the largest share of the North America NGS market. Sequencing by synthesis technology enables fast and accurate large-scale sequencing by using properties of four fluorescently labeled nucleotides to sequence the tens of millions of clusters on the flow cell surface in parallel. Additionally, SBS sequencing is widely used in transcriptomics, genomics, and epigenomics. The increasing applications of this technology contribute to the significant market share of this segment.

Among applications, the research and other applications segment is estimated to account for the largest share of the North America NGS market in 2023. The growing prevalence of genetic disorders, the increasing adoption of sequencing for genome research projects, the growing demand for personalized medicines, and the enhanced value of NGS due to its high precision and accuracy is increasing its adoption by pharmaceutical and biotechnology companies are factors contributing to the significant market share of this segment.

Among the end users, the pharmaceutical & biotechnology companies segment is estimated to account for the largest share of the North America NGS market in 2023. The increasing NGS research activities among pharmaceutical & biotechnology companies, the decreasing costs of NGS systems, and the rising demand for precision medicine contribute to the significant market share of this segment.

Based on geography, the North America NGS market is segmented into the U.S. and Canada. In 2023, the U.S. is estimated to account for the larger share of the NGS market. The factors driving the demand for NGS in the U.S. are high healthcare expenditure, increasing genome mapping programs in the region, and the presence of leading NGS players. Well-established healthcare infrastructure and government initiatives for NGS-based testing contribute to the large share of the regional market.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/north-america-ngs-market-5607

Scope of the Report:

North America NGS Market Assessment-by Offering

Consumables
Sample Preparation Consumables
DNA Extraction and Amplification
Library Preparation & Target Enrichment
Quality Control
Other Consumables
NGS Platforms/Instruments
Software
Services
(Other consumables include vials, pipettes, containers, trays, sequencing reagents, flow cells, and tubes)

North America NGS Market Assessment-by Sequencing Type

Targeted Genome Sequencing
Whole Genome Sequencing
Whole Exome Sequencing
Other Sequencing Types
(Other sequencing Types include degradome sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing)

North America NGS Market Assessment-by Technology

Sequencing by Synthesis
Ion Semiconductor Sequencing
Single-molecule Real-time Sequencing (SMRT)
Nanopore Sequencing
DNA Nanoball Sequencing
(Other sequencing technologies include polony sequencing, sequencing by ligation, pyrosequencing, and true single molecule sequencing [tSMS])

North America NGS Market Assessment-by Application

Research Applications
Drug Discovery
Agriculture & Animal Research
Other Research Applications
Clinical Applications
Reproductive Health Diagnosis
Oncology
Infectious Diseases
Other Clinical Applications
(Other research applications include food microbiology, microbiota analysis in the beverage industry, and environmental studies, and other clinical applications include the detection of genetic aberrations in neurological disorders, rare diseases, metabolic and immune disorders, and food-borne illnesses)

North America NGS Market Assessment-by End User

Hospitals and Diagnostic Laboratories
Pharmaceutical & Biotechnology Companies
Academic Institutes & Research Centers
Other End Users
(Other end users include forensic laboratories & security agencies, food & beverage companies, and agriculture companies)

North America NGS Market Assessment-by Country

North America
U.S.
Canada
Request Free Report Sample Now: https://www.meticulousresearch.com/request-sample-report/cp_id=5607

Contact Data
Mr. Khushal Bombe
Meticulous Research®
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
+91 744-7780008 (Asia-Pacific)
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

This release was published on openPR.