Next-Generation Sequencing Market Surges, Pioneering Precision Medicine Advancements

The global next-generation sequencing (NGS) market size is expected to be valued at USD 6.06 billion in 2024 and reach USD 14.26 billion by 2029, growing at a CAGR of 18.66 % from 2024 to 2029.

Next-generation sequencing (NGS) involves the manufacturing and application of next-generation sequencing technologies, which are crucial in genomics and clinical research. The key components include sequencing platforms, consumables, and services.

Global Next-generation sequencing (NGS) Market Report Scope:
• Market Size (2029): USD 14.26 Billion
• Market Size (2024): USD 6.06 Billion
• CAGR (2024 to 2029): 18.66 %
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Product, Technology, Application and Region.
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa.
• Key Market Players Profiled llumina, Thermo Fisher Scientific, Pacific Biosciences, Macrogen Inc., Partek Inc., Genomatix Software GmbH, Perkin Elmer Inc., GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., DNASTAR Inc., Knome Inc., and Qiagen N.V Are playing a dominant role in the global next-generation sequencing (NGS) market.

Increased demand for testing and services NGS has become indispensable in genomics research, clinical diagnostics, and personalized medicine, fuelling the surge in demand for comprehensive sequencing solutions and increasing the market revenue. As researchers and healthcare professionals seek more precise and comprehensive genomic insights, the adoption of NGS continues to rise by driving market expansion. The growing advancements in NGS technologies drive global market growth. Technological innovations have significantly enhanced the capabilities of NGS platforms, making them more efficient, accurate, and cost-effective, which fuels the global market revenue. Improvements in sequencing throughput, sensitivity, and data analysis tools have positioned NGS as a superior alternative to traditional sequencing methods, spurring its widespread adoption across diverse applications escalates the market size expansion. Growing applications in clinical diagnosis, the speed, accuracy, and cost-effectiveness of NGS have led to its widespread adoption in clinical diagnostics, adding fuel to the market expansion. The ability to rapidly sequence and analyze genomic data has revolutionized disease diagnosis and management, driving market growth as healthcare systems integrate NGS into their diagnostic protocols worldwide. The rising NGS applications in drug discovery as NGS plays a crucial role in elucidating genomic landscapes, identifying therapeutic targets, and accelerating drug discovery efforts by augmenting the expansion of market size. Pharmaceutical companies and research institutions increasingly rely on NGS technologies to streamline drug development processes, leading to collaborative ventures and partnerships to leverage NGS for innovative drug discovery solutions. These driving factors collectively state the pivotal role of NGS in advancing genomic research, clinical diagnostics, and drug discovery, driving sustained market expansion and shaping the future of precision medicine.

Legal and ethical considerations surrounding genomic data usage present complex challenges, requiring robust governance frameworks to ensure responsible utilization of NGS technologies, which is expected to limit global market growth. Additionally, the vastness and complexity of NGS datasets pose challenges in data interpretation, requiring advanced bioinformatics tools and skilled professionals to hamper global market revenue. Furthermore, a skills gap in the workforce proficient in NGS technologies and bioinformatics presents a significant barrier to market expansion, highlighting the need for educational initiatives and workforce development programs to address skill deficiencies.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/next-generation-sequencing-market

Key Insights from The Report:
• Based on Product, the services segment led the market and accounted for the largest share of the global market in 2023.
• Based on Technology, the targeted re-sequencing segment held the second largest share of the global market in 2023.
• North America dominated the next-generation sequencing (NGS) market in 2023. Europe accounted for second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• llumina, Thermo Fisher Scientific, Pacific Biosciences, Macrogen Inc., Partek Inc., Genomatix Software GmbH, Perkin Elmer Inc., GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., DNASTAR Inc., Knome Inc., and Qiagen N.V are dominated the next-generation sequencing (NGS) market.

SEGMENTATION INCLUDED IN THIS REPORT:
By Product:
• Software
• Services
By Technology:
• Targeted Re-Sequencing
• Whole Genome Sequencing
• De Novo Sequencing
• Exome Sequencing
• RNA-Seq
• ChIP-Seq
• Methyl-Seq
By Application:
• Diagnostics
• Drug Discovery
• Biomarker Discovery
• Personalized Medicine
• Agriculture and Animals Research
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Browse Regional Reports:
North America Next-Generation Sequencing Market Analysis Report - Segmented By Product, Technology, Application and Country (United States, Canada, Mexico & Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/north-america-next-generation-sequencing-market
Europe Next-Generation Sequencing Market Analysis Report - Segmented By Product, Technology, Application and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/europe-next-generation-sequencing-market
Asia-Pacific Next-Generation Sequencing Market Analysis Report - Segmented By Product, Technology, Application and Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC) - Industry Analysis, Size, Share, Trends & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/asia-pacific-next-generation-sequencing-market
Latin America Next-Generation Sequencing Market Analysis Report - Segmented By Product, Technology, Application and Country (Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/latin-america-next-generation-sequencing-market
Middle East & Africa Next-Generation Sequencing Market Analysis Report - Segmented By Product, Technology, Application and Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/middle-east-and-africa-next-generation-sequencing-market

TABLE OF CONTENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product
5.1.1 Software
5.1.2 Services
5.2 By Technology
5.2.1 Whole Targeted Re-Sequencing
5.2.2 Genome Sequencing
5.2.3 De Novo Sequencing
5.2.4 Exome Sequencing
5.2.5 RNA-Seq
5.2.6 ChIP-Seq
5.2.7 Methyl-Seq
5.3 By Application
5.3.1 Diagnostics
5.3.2 Drug Discovery
5.3.3 Biomarker Discovery
5.3.4 Personalized Medicine
5.3.5 Agriculture and Animals Research
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Illumina Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Thermo Fisher Scientific
8.3 Life Sciences (Roche)
8.4 Pacific Biosciences
8.5 Macrogen Inc.
8.6 Partek Inc.
8.7 Genomatix Software GmbH
8.8 Perkin Elmer inc.
8.9 GATC Biotech Ag
8.10 Agilent Technologies Inc.
8.11 Biomatters Ltd.
8.12 CLC Bio (Qiagen)
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures

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