Lewes, Delaware, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The Global Next Generation Sequencing (NGS) Market Size is projected to grow at a CAGR of 20.39% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 8.87 Billion in 2024 and is expected to reach USD 39.15 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Next Generation Sequencing (NGS) Market Size”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Illumina, Inc., Thermo Fisher Scientific Inc., Pacific Biosciences of California, Oxford Nanopore Technologies Ltd., BGI Group, Roche Holding AG, Qiagen N.V., Agilent Technologies, Inc., 10x Genomics, Inc., Bio-Rad Laboratories, Inc., and others. |
| SEGMENTS COVERED | By Type of Sequencing, By Product Type, By End User, and By Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Next Generation Sequencing (NGS) Market Overview
Technological Advancements in NGS: Continuous technological advancements in the sequencing industry have led to the development of faster, more accurate, and cost-effective solutions for sequencing. This innovation fuels market expansion by facilitating a wider array of applications, ranging from personalized medicine to intricate genetic research.
Expanding Applications Across Industries: The expanding applications of NGS technology in fields like oncology, infectious disease research, and agrigenomics have greatly contributed to the growth of the Next Generation Sequencing (NGS) Market. This adaptability leads to a rise in need, positioning NGS as an essential tool in different scientific and industrial fields.
Increasing Demand for Personalized Medicine: The increasing focus on personalized medicine is a significant factor influencing the growth of the Next Generation Sequencing (NGS) Market. Through the use of personalized genetic information, NGS is transforming the field of healthcare, resulting in greater acceptance and growth in various clinical environments.
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High Initial Costs and Complex Infrastructure: Despite the potential of the Next Generation Sequencing (NGS) Market, there are challenges that arise from the high initial setup costs and the requirement for complex infrastructure. These obstacles can hinder the acceptance of new practices, especially for smaller organizations or in areas with limited resources, which can have an impact on the overall growth of the market.
Data Interpretation and Management Challenges: The vast amount of data produced by NGS platforms poses considerable difficulties in interpretation and management. The complexity involved in this can pose challenges to the market's growth, as organizations face difficulties in seamlessly integrating and analyzing data. This, in turn, may lead to potential delays in research and development processes.
Regulatory and Ethical Concerns: Regulatory and ethical concerns pose constraints on the Next Generation Sequencing (NGS) Market, specifically regarding data privacy and genetic manipulation. Strict regulations can hinder the market's growth, as companies work to comply with them.
Geographic Dominance:
North America has established itself as a leader in the Next Generation Sequencing (NGS) market, thanks to its advanced healthcare infrastructure, extensive research and development efforts, and generous government funding. This dominance drives market growth by fostering innovation and encouraging early adoption, which in turn attracts major players and investments. The presence of top genomic companies and research institutions in this region strengthens market expansion, shaping trends that impact global market dynamics.
Next Generation Sequencing (NGS) Market Key Players Shaping the Future
Major players, including Illumina, Inc., Thermo Fisher Scientific Inc., Pacific Biosciences of California, Oxford Nanopore Technologies Ltd., BGI Group, Roche Holding AG, Qiagen N.V., Agilent Technologies, Inc., 10x Genomics, Inc., Bio-Rad Laboratories, Inc., and others. and more, play a pivotal role in shaping the future of the Next Generation Sequencing (NGS) Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Next Generation Sequencing (NGS) Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Next Generation Sequencing (NGS) Market into Type of Sequencing, Product Type, End User, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Next Generation Sequencing (NGS) Market, please Contact Verified Market Research®.
- Next Generation Sequencing (NGS) Market, by Type of Sequencing
- Whole Genome Sequencing (WGS)
- Targeted Resequencing
- RNA Sequencing (WES)
- ChIP Sequencing (ChIP-Seq)
- De Novo Sequencing
- Methyl Sequencing
- Next Generation Sequencing (NGS) Market, by Product Type
- Instruments
- Reagents and Consumables
- Services
- Next Generation Sequencing (NGS) Market, by End-User
- Hospitals and Healthcare Institutes
- Academic & Research Institutes
- Pharma and Biotech Companies
- Next Generation Sequencing (NGS) Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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