Press release
NGS Automation Market Projected to Reach $1.33 Billion by 2029
[Redding, California, February 27, 2024] - Meticulous Research®, a globally recognized market research powerhouse, has unveiled its latest study titled, 'NGS Automation Market By Product (Platform, Consumables), Sequencing Type (Whole Genome, Exome, Targeted), Application (Drug Discovery, Diagnostics), End User (Hospitals, Diagnostic Laboratories, Pharmaceutical, Academic) - Global Forecast to 2029.'Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5271
According to Meticulous Research®, the NGS automation market is poised to burgeon at a compelling CAGR of 13.4% from 2022, reaching a valuation surpassing $1.33 billion by 2029. The market's upward trajectory is underpinned by escalating demand for automation within NGS workflows, a surge in cancer incidences, and amplified R&D investments alongside burgeoning healthcare expenditures.
Furthermore, the expanding applications of next-generation sequencing and burgeoning collaborations between entities to develop library preparation protocols are expected to unlock substantial growth avenues within this market.
However, the exorbitant costs associated with automation workstations are anticipated to impede market expansion to a considerable extent. Additionally, regulatory and standardization concerns in diagnostic testing, coupled with the necessity for highly skilled personnel to operate automation software, pose significant challenges to market growth.
Future Outlook of NGS Automation Market
The NGS automation market is meticulously dissected based on product, application, sequencing type, end user, and geographical regions. The report provides a comprehensive analysis of industry competitors and scrutinizes market dynamics at the country level.
Browse in depth @ https://www.meticulousresearch.com/product/ngs-automation-market-5271
Based on product, in 2022, the workstation/robotic platform segment is envisaged to command the lion's share of the market. The segment's dominance is fueled by surging demand for NGS workflow automation, robust adoption of automation workstations/robotic platforms by pharmaceutical, biotechnology companies, and diagnostic laboratories, alongside escalating governmental funding for drug discovery and research endeavors.
Based on application, the drug discovery segment is forecasted to seize the largest market share in 2022, propelled by increasing NGS utilization to identify novel drug targets and develop therapeutic techniques targeting specific genes and proteins. This surge in demand is driven by a burgeoning need for NGS workflow automation.
Based on sequencing type, in 2022, the whole genome sequencing segment is anticipated to capture the largest market share. This dominance is attributed to the myriad advantages of whole-genome sequencing (WGS) in discovery applications, including identifying causative variants and novel genome assembly. Additionally, WGS's utility in cancer diagnosis and targeted therapy in precision oncology augments demand for NGS automation in this realm.
Based on end user, the pharmaceutical and biotechnology companies segment is envisaged to dominate the market in 2022. The segment's ascendancy is fueled by escalating R&D expenditure and an insatiable demand for groundbreaking drug discoveries employing advanced technologies. Moreover, these entities' financial prowess facilitates investments in NGS automation workstations and the acquisition of skilled personnel.
Geographical Analysis:
The report conducts an in-depth analysis of major geographies, encompassing North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa.
In 2022, North America is estimated to command the largest market share, followed by Europe and Asia-Pacific. North America's market dominance is fueled by burgeoning demand for NGS automation among researchers and scientists, escalating governmental support and investments to fortify genome sequencing infrastructure, and an upsurge in R&D investments by pharmaceutical and biopharmaceutical companies.
Quick Buy - NGS Automation Market - Global Opportunity Analysis and Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/27804657
Key Players:
Key players in the NGS automation market include Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Eppendorf AG (Germany), Hamilton Company (U.S.), PerkinElmer, Inc. (U.S.), Tecan Group Ltd. (Switzerland), PRIMADAG SAS (France), BRAND GMBH + CO KG (Germany), Hudson Robotics (U.S.), SPT Labtech (U.K.), Thermo Fisher Scientific Inc. (U.S.), and F. Hoffmann-La Roche AG (Switzerland).
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Meticulous Market Research Inc.
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We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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