Dublin, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Next Generation Sequencing (NGS) Market Size, Share, Forecast, & Trends Analysis by Offering, Type, Application, End User - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia NGS market is projected to reach $ 50.0 million by 2031 at a CAGR of 10.1% during the forecast period from 2024 to 2031.
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities.
The growth of this market is driven by the rising number of cancer cases, increasing pharmaceutical R&D expenditures, and the surge in genome mapping programs are factors driving the growth of Saudi Arabia NGS market. However, the high costs of NGS systems and consumables, data confidentiality concerns, the availability of alternative technologies, the low chances of identifying positive, actionable biomarkers, and ethical & legal issues related to NGS-based diagnosis restrain the growth of this market.
In addition, the increasing adoption of NGS tools among hospitals and clinical laboratories and government initiatives supporting large-scale genomic sequencing projects offer considerable growth opportunities for market players. However, the shortage of skilled professionals, issues related to data storage, handling, interpretation, and confidentiality, and concerns about regulatory standards and standardization in diagnostic testing are some of the challenges impacting the market's growth.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry in the past three to four years (2020-2024). Some of the key players operating in Saudi Arabia NGS market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Beijing Genomics Institute (BGI) (China), Bio-Rad Laboratories, Inc. (U.S.), and 10x Genomics, Inc. (U.S.).
Among all the offerings studied in this report, the consumables segment is projected to register the highest CAGR of 10.3% during the forecast period.
This segment's growth is attributed to the increasing prevalence of genetic diseases, growing adoption of genetic testing, and recurring purchases of consumables over instruments.
Among all the sequencing types studied in this report, the targeted genome sequencing segment is slated to register the highest growth rate of 11.2% during the forecast period.
This technology has facilitated the study of gene-drug associations, aiding in the design of gene-specific drugs with higher precision, thus increasingly adopted by pharmaceutical and biotechnology companies. Additionally, low cost, improved accuracy and speed, and greater depth of coverage than other sequencing methods are further driving the market growth.
Among all the applications studied in this report, in 2024, the research & other applications segment is expected to account for the largest share of 56.9% of Saudi Arabia NGS market.
The large share of the segment is attributed to the rising prevalence of genetic diseases, the increasing need for pathogen surveillance, the availability of funding for agriculture and animal research, and supportive government initiatives. For instance, under Vision 2030, $10 billion was allocated to stabilize the global food supply chain and boost domestic agricultural production.
Among all the end users studied in this report, the pharmaceutical & biotechnology companies segment is expected to record the highest CAGR during the forecast period.
The highest CAGR of the segment is attributed to the increasing R&D expenditure by pharmaceutical & biotechnology companies, the rising utilization of genomics for research processes, and an increasing number of biotechnology companies. Moreover, the National Biotechnology Strategy by the Saudi Arabian government is aimed at localizing bio-manufacturing, driving market growth.
Some of the key companies profiled in this Saudi Arabia Next Generation Sequencing (NGS) Market report include:
- Illumina Inc. U.S.
- Thermo Fisher Scientific Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Revvity Inc. U.S.
- QIAGEN N.V. (Netherlands)
- Agilent Technologies Inc. U.S.
- Pacific Biosciences of California Inc. U.S.
- Danaher Corporation (U.S.)
- Oxford Nanopore Technologies Plc. (U.K.)
- Beijing Genomics Institute (BGI) (China)
- Bio-Rad Laboratories Inc. U.S.
- 10x Genomics Inc. U.S.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
2. Research Methodology
2.1. Research Approach
2.2. Process Of Data Collection and Validation
2.3. Market Sizing and Forecast
2.4. Assumptions For the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Impact Analysis of Market Dynamics
4.2.1.1. Rising Cancer Prevalence & Increasing Application of NGS in Cancer Treatment and Research Driving Market Growth
4.2.1.2. Availability of Alternative Technologies Restraining Market Growth
4.2.1.3. Increasing Application of NGS In Personalized Medicine Generating Growth Opportunities for Market Players
4.2.1.4. Data Storage, Handling, Interpretation, and Confidentiality Concerns Expected to Remain a Major Challenge for Market Stakeholders
4.2.2. Macroindicators
4.3. Industry Trends
4.3.1. Development of Portable Sequencing Technologies
4.3.2. Increasing Demand for NGS Automation
4.4. Regulatory Analysis
4.5. Health Sector Scenario
4.5.1. Overview
4.5.2. Key Health Indicators
4.5.3. Major Stakeholders
4.5.4. Initiatives/Programs to Improve Healthcare Sector in Saudi Arabia
4.5.4.1. Saudi Vision 2030
4.5.4.2. National Biotech Strategy
4.5.4.3. Saudi Genome Program
4.5.4.4. Healthcare Sector Transformation Program
4.5.4.5. Saudi Biobank Project
4.5.4.6. Saudi Arabia: Regional Headquarters Program (RHQ)
4.5.4.7. Other Large-Scale Initiatives
4.6. IVD Industry Landscape
4.7. Reimbursement Scenario
5. Saudi Arabia Next Generation Sequencing (NGS) Market Assessment - By Offering
5.1. Overview
5.2. Consumables
5.2.1. Sample Preparation Consumables
5.2.1.1. Library Preparation & Target Enrichment
5.2.1.2. DNA Extraction and Amplification
5.2.1.3. Quality Control
5.2.1.4. Other Kits & Reagents
5.2.2. Sequencing Consumables
5.3. NGS Platforms/Instruments
5.3.1. Sequencing By Synthesis
5.3.2. Ion Semiconductor Sequencing
5.3.3. DNA Nanoball (DNB) Sequencing
5.3.4. Single-Molecule Real-Time Sequencing & Nanopore Sequencing
5.4. Software
5.5. Services
6. Saudi Arabia Next-Generation Sequencing Market Assessment - By Sequencing Type
6.1. Overview
6.2. Targeted Genome Sequencing
6.3. Whole Genome Sequencing
6.4. Whole Exome Sequencing
6.5. Other Sequencing Types
7. Saudi Arabia Next-Generation Sequencing Market Assessment - By Application
7.1. Overview
7.2. Research & Other Applications
7.2.1. Cancer Research
7.2.2. Agriculture & Animal Research
7.2.3. Microbiology & Infectious Disease Research
7.2.4. Genetic Diseases Research
7.2.5. Cell & Molecular Biology Research
7.2.6. Other Applications
7.3. Clinical Applications
7.3.1. Oncology
7.3.2. Reproductive Health
7.3.3. Infectious Diseases
7.3.4. Genetic Disorders
7.3.5. Other Clinical Applications
8. Saudi Arabia Next-Generation Sequencing Market Assessment - By End User
8.1. Overview
8.2. Hospitals & Diagnostic Laboratories
8.3. Pharmaceutical & Biotechnology Companies
8.4. Academic & Research Centers
8.5. Other End Users
9. Competition Analysis
9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
9.4.1. Industry Leaders
9.4.2. Market Differentiators
9.4.3. Vanguards
9.4.4. Emerging Companies
9.5. Market Share Analysis
9.5.1. Illumina, Inc. (U.S.)
9.5.2. F. Hoffmann-La Roche Ltd. (Switzerland)
9.5.3. Beijing Genomics Institute (BGI) (China)
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/x5oxbi
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
