Next-Generation Sequencing Market to Witness Impressive Expansion of USD 43.42 Billion with CAGR Of 20.3% From 2024 To 2032

The next generation sequencing market size is projected to be valued at USD 8.24 billion in 2023 and is expected to rise to USD 43.42 billion by 2032. The market is expected to register a CAGR of 20.3% during the forecast period from 2024 to 2032. Various factors propelling the demand for next generation sequencing include:

● The improvements in sequencing technologies will drive the growth of the next generation sequencing industry.
● The emergence of various test kits and testing services, particularly in non-invasive prenatal testing, cancer diagnosis, genetic testing, and other diagnostic applications, is driving the growth of the market.
● The next generation sequencing market is growing owing to an increasing number of developments in genomics research.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/next-generation-sequencing-ngs-market/request-for-sample

𝐖𝐡𝐚𝐭 𝐀𝐫𝐞 𝐍𝐞𝐱𝐭 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐪𝐮𝐞𝐧𝐜𝐢𝐧𝐠?

Next generation sequencing (NGS) is a method that uses DNA or RNA sequences to analyze genetic variation in diseases or other biological phenomena. This technology was previously referred to as "massively parallel sequencing" since it allowed for the sequencing of multiple DNA strands at once rather than one at a time, as is the case with typical Sanger sequencing by capillary electrophoresis.

𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. Some of the leading companies in next generation sequencing market are:

• BGI
• Bio-Rad Laboratories, Inc.
• DNASTAR, Inc.
• Eurofins GATC Biotech GmbH
• Genomatix GmbH
• Illumina Inc.
• Invitae Corporation
• Oxford Nanopore Technologies
• Perkin Elmer, Inc.
• PierianDx
• Qiagen
• Roche Ltd.
• Thermo Fisher Scientific Inc.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬: https://www.polarismarketresearch.com/buy/84/2

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

1. Declining Costs: The cost of sequencing has dropped dramatically, making NGS more accessible for research and clinical use.

2. Increasing Adoption in Clinical Diagnostics: NGS is increasingly being used for diagnosing genetic disorders, cancer, and infectious diseases, driven by its precision and comprehensive data output.

3. Rising Prevalence of Genetic Disorders and Cancer: The growing incidence of these conditions is propelling the demand for NGS-based diagnostics and personalized treatment strategies.

𝐍𝐞𝐱𝐭-𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐪𝐮𝐞𝐧𝐜𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• The reagents and consumables segment held the largest revenue share in the next-generation sequencing market due to an evolution in molecular genetics and an increase in demand for products and kits that accomplish size selection, target enrichment, and DNA fragmentation.
• The services segment witnessed the fastest market growth during the forecast period, owing to the improvement in the technology based on SMRT sequencing and a surge in the application of cloud computing for NGS data storage.
• In 2022, North America accounted for the largest market share owing to technological advancements in sequencing platforms and the surge in NGS applications in the region. The active support from the government and the surging prevalence of cancer will also drive the market's growth.
• Asia Pacific region witnessed the fastest growth in the next generation sequencing market. Due to the increasing investments in China and India in research and development of next generation sequencing.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.polarismarketresearch.com/industry-analysis/next-generation-sequencing-ngs-market

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐁𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧:

The market is primarily segmented based on product, technology, application, end-user, and region. Based on application type, the diagnostics/infectious diseases segment had the highest revenue share, owing to advances in liquid biopsies for cancer diagnosis.
Furthermore, according to the product analysis, the instruments segment had the largest market share during the forecast period. Accurate and trustworthy genetic information is crucial in clinical diagnosis and therapy, indicating a high demand for sophisticated sequencing technology.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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Virus Filtration Market: https://www.polarismarketresearch.com/industry-analysis/virus-filtration-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

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This release was published on openPR.