Next Generation Sequencing NGS Market to Grow from $6.9 Billion in 2022 to $28.9 Billion by 2031 | Illumina, Inc., PacBio, DNASTAR, BGI Group.

The Global Next Generation Sequencing (NGS) Market reached USD 6.9 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 28.9 billion by 2031. The global next generation sequencing (NGS) market is expected to exhibit a CAGR of 20.4% during the forecast period 2024-2031.

Next Generation Sequencing NGS Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Next-generation sequencing (NGS) is an advanced DNA sequencing technology that enables rapid and high-throughput genetic analysis. It allows researchers to decode entire genomes, transcriptomes, or specific gene regions with high accuracy and efficiency. NGS has revolutionized fields such as precision medicine, cancer genomics, and infectious disease research by providing insights into genetic variations and mutations. The technology has significantly reduced sequencing costs while increasing accessibility for clinical and research applications. Its impact continues to grow, enabling personalized healthcare and novel therapeutic discoveries.

List of the Key Players in the Next Generation Sequencing NGS Market:

Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Revvity (PerkinElmer Inc.), Illumina, Inc., PacBio, DNASTAR, BGI Group and Qiagen among others.

Industry Development:

On June 8, 2023, PreCheck Health Services Inc., a CLIA-licensed and CAP-accredited molecular diagnostics company, launched the "PreCheck Comprehensive Cancer Panel," an NGS-based assay. This new service will be accessible to hospitals, pathologists, oncologists, clinics, and healthcare organizations across South Florida and beyond, revolutionizing cancer detection through advanced sequencing techniques.

Growth Forecast Projected:

The Global Next Generation Sequencing NGS Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Next Generation Sequencing NGS Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Next Generation Sequencing NGS Market:

By Product Type: Reagents and Consumables, Instruments, Others

By Application: Agriculture and Animal Research, Drug Discovery, Diagnostics, Genetic Screening, Others

By Technology: Chip Sequencing, De Novo Sequencing, RNA Sequencing, Methyl Sequencing, Others

By End User: Academics, Biotechnology and Pharmaceutical Firms, Hospitals and Healthcare Institutions, Services, Others

Regional Analysis for Next Generation Sequencing NGS Market:

The regional analysis of the Next Generation Sequencing NGS Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Next Generation Sequencing NGS market?

➠ Who are the leading manufacturers in the global Next Generation Sequencing NGS industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Next Generation Sequencing NGS industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Next Generation Sequencing NGS market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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