Wilmington, Delaware, Nov. 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global next generation sequencing market is anticipated to gain $35,503.66 million by 2030, having witnessed a value of $6,598.62 million in 2020, exhibiting a notable CAGR of 18.2% from 2021 to 2030. The report offers a detailed analysis of current trends, top segments, key investment pockets, regional analysis, and competitive scenarios. The report helps to provide information for leading market players, emerging competitors, investors, and stakeholders in devising and taking the initiative to bolster their competitive edge.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2021–2030 |
| Base Year | 2020 |
| Market Size in 2020 | $6,598.62 Million |
| Market Size in 2030 | $35,503.66 Million |
| CAGR | 18.2% |
| No. of Pages in Report | 349 |
| Segments Covered | Product, Application, Technology, End User, and Region |
| Drivers | Technological developments in next generation sequencing industry |
| The increase in the use of NGS | |
| The development of more effective partnerships and collaboration strategies | |
| The rise in demand for genome mapping programs | |
| Opportunities | The rising demand for cloud computing |
| The potential for data management services | |
| Restraints | Standardization concerns regarding NGS-based diagnostics |
| A lack of qualified experts | |
| Several ethical and legal considerations |
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The global next generation sequencing market is classified into various segments based on product, application, technology, end user, and region. It is presented in visual and tabular form, enabling individuals or businesses to gain visibility into the lucrative and rapidly expanding markets.
Based on product, the consumables segment held the massive market share in 2020, contributing to more than two-thirds of the global next generation sequencing market revenue, and is expected to maintain its lead position over the projected period. However, the services segment is estimated to register the fastest CAGR of 19.3% from 2021 to 2030. The other consumables segment is also discussed in the report.
Based on application, the biomarkers and cancer segment dominated the major market share in 2020, garnering more than one-third of the global next generation sequencing market revenue, and is projected to rule the roost by 2030. Nevertheless, the agriculture and animal research segment would cite the fastest CAGR of 19.2% from 2021 to 2030. The diagnostics, reproductive health, personalized medicine, and other applications segments are also studied in the report.
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Based on region, the market across North America garnered the highest market share in 2020, acquiring around two-fifths of the global next generation sequencing market revenue, and is predicted to maintain its lead trail during the forecast period. However, the market across the Asia-Pacific region would showcase the fastest CAGR of 19.0% from 2021 to 2030. The other provinces studied in the report include Europe and LAMEA.
The report also provides a detailed evaluation of the prominent players in the global next generation sequencing market such as Thermo Fisher Scientific Inc., BGI Group, PierianDx Inc., Agilent Technologies, Inc., Pacific Biosciences of California, Inc., F. Hoffmann-La Roche AG, Qiagen N.V., Precigen Inc., (Intrexon Bioinformatics Germany GmbH), Illumina Inc., and PerkinElmer, Inc. These market players have embraced various strategies including joint ventures, geographical expansion, collaboration, new product launches, and others to maintain their presence in the market.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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