Exponential Growth Expected in Global Next Generation Sequencing Market: Comprehensive Analysis and Forecast

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Catalyst for Growth in Next Generation Sequencing Market: Projected Market Size, Impressive CAGR, Emerging Trends, and Key Players.

What Is The Projected Market Size Of The Global Next Generation Sequencing Market And Its Growth Rate?
Emerging as a game-changing development in healthcare technology, the Next Generation Sequencing market is witnessing substantial growth. The key statistics include:
• Rising from $14.52 billion in 2024, the market is expected to grow to $17.21 billion in 2025, at a compound annual growth rate (CAGR) of 18.5%. Factors contributing to this growth during the historic period include increased healthcare expenditure, technological advancements, expanding elderly population, and growth in emerging markets.
• The CAGR for the forecast period maintains at 18.5%, taking the projected market size to $33.89 billion by 2029. This growth is attributed to an aging population, increase in healthcare access, rising prevalence of chronic diseases and increasing demand for next generation sequencing due to COVID-19.

What Is Driving The Growth In The Next Generation Sequencing Market?
The increasing need for Next Generation Sequencing (NGS) is directly proportional to the rise in chronic conditions such as cancer, AIDS, and thalassemia. As global population ages and lifestyle changes foster chronic illnesses, there is an escalated demand for long-term medical solutions. NGS is proving to be an invaluable asset, offering relevant insights in cancer studies and helping physicians with informed decisions for treatment strategies. The World Health Organization foretells a significant rise in chronic diseases, further solidifying the reliance on NGS for future healthcare solutions.

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Who Are The Key Players Driving Next Generation Sequencing Market Growth?
In the forefront of Next Generation Sequencing market are major companies:
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- QIAGEN
- Agilent Technologies, Inc.
- Pacific Biosciences of California Inc.
- Oxford Nanopore Technologies
- 10x Genomics
- Bio-Rad Laboratories, Inc.
- MGI Tech Co., Ltd.
- Oxford Gene Technology
- Hoffmann-La Roche Ltd
- BGI
- PerkinElmer Inc.
- Macrogen Inc.
- Genotypic Technology Pvt. Ltd.
- Beijing Genomics Institute
- SciGenom Labs Pvt. Ltd (India)
- Dante Labs
- Roche
- First Genetics JCS
- Helix
- Tempus
- Massive Bio
- Genetricsinc
- King Abdullah International Medical Research Center
- Inqaba biotec

What Are The Key Trends In The Next Generation Sequencing Market?
Next Generation Sequencing market is expected to benefit from several upcoming trends:
• Adoption of artificial intelligence to reduce costs and time.
• Economic study of rare diseases to maintain a competitive edge over other technologies.
• Utilizing NGS technologies for newborn screening.
• Use of big data technologies to analyze large genomic data.

What Are The Segments Of The Global Next Generation Sequencing Market?
Diversifying market projections into categories:
1) By Product: Instruments, Reagents and Kits, Software
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies
3) By Application: Diagnostics, Drug Discovery, Other Applications

Which Region Leads The Next Generation Sequencing Market?
In 2024, North America emerged as the largest region player in the Next Generation Sequencing market with Asia-Pacific as the second largest contributor. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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What Is Covered In The Next Generation Sequencing Market Global Market Report?
• Market Size Analysis: Analyze the Next Generation Sequencing Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Next Generation Sequencing Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Next Generation Sequencing Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Next Generation Sequencing Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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