Next Generation Sequencing (NGS) Market, By Product (Instruments, Consumables, Services),Trends

The global NGS market can be defined as the overall economic activity related to the development, manufacturing, and application of next-generation sequencing technologies and services. Key components of the NGS market include sequencing platforms, consumables (reagents and kits), and services (sequencing services, data analysis, and storage). Factors driving the growth of the global NGS market include advancements in sequencing technologies, decreasing sequencing costs, increased funding for genomics research, and the expanding applications of NGS in areas such as personalized medicine, oncology, agriculture, and microbiology.

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Continuous advancements in NGS technologies have led to increased speed, accuracy, and cost-efficiency. These improvements have made NGS more accessible and attractive to researchers and clinicians. NGS is widely used in genomics research for applications such as whole-genome sequencing, transcriptomics, epigenomics, and metagenomics. Researchers are using NGS to gain insights into genetic variations, gene expression, and the functional genomics of diseases, which drives demand for these technologies.

Data Bridge Market Research analyzes that the next generation sequencing (NGS) market, which was USD 7,008.17 million in 2022, is likely to reach USD 31,417.25 million by 2030 and is expected to undergo a CAGR of 17.1% during the forecast period. "Instruments" dominates the product segment of the next generation sequencing (NGS) market due to the growing demand for NGS.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Opportunity

Integration of Multi-Omics Data

The integration of genomics, transcriptomics, epigenomics, and metagenomics data using NGS provides comprehensive insights into complex biological systems. This opportunity supports a deeper understanding of health and disease. Advances in NGS technologies enable the integration of multiple omics data, including genomics, transcriptomics, epigenomics, and metagenomics. Researchers can gain a more comprehensive view of biological systems, leading to better insights and discoveries.

Drivers

Advancements in sequencing technologies

Technological improvements have significantly increased the speed at which DNA and RNA sequences can be determined. Next-generation sequencing platforms can now process a larger number of samples simultaneously, leading to higher throughput. This is particularly valuable in research and clinical applications where large-scale sequencing is required, such as in genomics studies and diagnostic testing. Continuous innovations in NGS platforms have led to improved speed, accuracy, and cost-efficiency. These advancements make NGS more accessible and attractive to researchers and healthcare professionals.

Application

Diagnostics

Biomarker Discovery

Precision Medicine

Drug Discovery

Agriculture and Animal Research

Others

End User

Pharmaceutical & Biotechnology Companies

Research Centers & Academic Government Institutes

Hospital & Clinics

Some of the major players operating in the next generation sequencing (NGS) market are:

Agilent Technologies, Inc.(U.S.)

ThermoFisher Scientific, Inc.(U.S.)

QIAGEN (Netherlands)

Illumina, Inc.(U.S.)

Bio-Rad Laboratories, Inc. (U.S.)

Roche Sequencing (A subsidiary of F. Hoffman La Roche) (Switzerland)

BGI  (A subsidiary of BGI Group) (China)

Oxford Nanopore Technologies plc (U.K.)

MACROGEN CO., LTD.(South Korea)

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