Next Generation Sequencing Market CAGR To Be Around 18.4% by 2035, Due to rise in individuals suffering from various cancers and rare diseases| Roots Analysis

According to our latest market report "Next Generation Sequencing Market, till 2035 by Type of Component, Type of NGS Technique, Type of Technology Used, Application Area, Target Therapeutic Area, Purpose, End Users and Geographical Regions: Industry Trends and Global Forecasts", the global next generation sequencing market size is projected to reach USD 46.5 billion by 2035 from USD 8.6 billion in the current year, growing at a CAGR of 18.4% in the forecast period, till 2035.
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Next-generation sequencing (NGS) is a novel sequencing technique used for whole genome sequencing to understand genetic variations associated with a wide range of diseases including rare diseases, cancers and genetic disorders. NGS technologies have shown their potential in sequencing an entire genome simultaneously in order to expedite the research efforts for diseases diagnosis at molecular level. In addition to disease diagnosis, next-generation sequencing technologies helps to identify biomarkers, design cell therapies and develop targeted therapies.

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Next Generation Sequencing Market Segments

Based on the type of component, the market is segmented into Consumables, Services and Instruments.

1. Consumables led the next generation sequencing market, capturing the largest revenue share of more than 65% in the current year.
2. The consumables segment is anticipated to show the highest growth rate of over 18.5%, during the forecast period.

Based on the type of NGS technique, the market is segmented into Targeted Sequencing, Whole Genome Sequencing / Whole Exome Sequencing, RNA Sequencing and Other Techniques.

1. The target sequencing technique led the next generation sequencing market, capturing the largest revenue share of close to 45% in the current year.
2. The whole genome sequencing / whole exome sequencing techniques are anticipated to show the highest growth rate of 19.5%I during the forecast period.

Based on the type of technology used, the market is segmented into Sequencing by Synthesis Technology, Ion Semiconductor Technology, Nanopore Sequencing Technology and Other Technologies.

1. The sequencing by synthesis technology segment led the next generation sequencing market, capturing the largest revenue share of over 80% in the current year.
2. The nanopore sequencing technology is anticipated to show the highest growth rate of 20.5% during the forecast period.

Based on the application area, the market is segmented into Clinical Applications and Research and Applied Applications.

1. The clinical applications led the next generation sequencing market, capturing the largest revenue share of close to 60% in the current year.
2. The clinical applications segment is anticipated to show the highest growth rate of more than 20% during the forecast period.

Based on the target therapeutic area, the market is segmented into Oncological Disorders, Genetic Disorders, Reproductive Disorders and Other Therapeutic Areas.

1. The NGS technologies used for oncological disorders led the next generation sequencing market, capturing the largest revenue share of 50% in the current year.
2. The other therapeutic areas market segment is expected to show the highest growth rate of more than 25% during the forecast period.

Based on the purpose, the market is segmented into Diagnosis, Risk Assessment, Presymptomatic Assessment, Screening and Other Purposes.

1. The NGS technologies used for diagnostic purposes led the next generation sequencing market, capturing the largest revenue share of around 60% in the current year.
2. The NGS technologies intended for other purposes is anticipated to show the highest growth rate of over 20% during the forecast period.

Based on the end users, the market is segmented Academic and Research Institutes, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, and Other End Users.

1. The academic and research institutes led the next generation sequencing market, capturing the largest revenue share of more than 45% in the current year.
2. The hospitals and clinics segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of over 20% during the forecast period.

Next Generation Sequencing Market Regional Outlook
Based on the geographical regions, the next generation sequencing market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. North America is anticipated to capture the majority share of the next generation sequencing market in 2025. Further, the next generation sequencing industry in Asia-Pacific is accounted to be the fastest-growing segment of the market, with an annualized rate of more than 20%, during the forecast period.

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Key Report Takeaways
1. ~95% of the next generation sequencing service providers offer whole genome sequencing services; of these, around 85% of the service providers offer additional services for bioinformatics
2. The rising demand for NGS technologies has led to a notable increase in its application sectors, with around 25 technologies currently used for both whole genome sequencing and targeted sequencing
3. Since 2020, more than 3,060 patents have been filed / granted focused on the research and development of next generation technologies / platforms across the globe
4. In the recent years, a significant increase in the number of registered clinical trials has been observed in this domain; over 60% of the trials focused on next generation sequencing are currently in phase II
5. The rising interest of big pharma players in the field of next generation sequencing is reflected by the wide array of initiatives established in the recent past; ~75% of the initiatives were focused collaborations with other players
6. The next generation sequencing market is anticipated to grow at a CAGR of 18.4% till 2035; majority of the market share is likely to be occupied by North America, followed by Europe
7. The market opportunity is projected to be well distributed across various segments, such as type of component, type of NGS technique, technology used, application area, target therapeutic area, purpose and end users

Next Generation Sequencing Market Key Players
Examples of key companies engaged in next generation sequencing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include (in alphabetic order) Admera Health, Applied Biological Materials, BGI Genomics, CD Genomics, DNA Link, Eurofins Genomics, Gene by Gene, GENEWIZ, MedGenome, Novogene, Psomagen, Veritas and Xcelris Labs

Contact Details
Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
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Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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