Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The "Next Generation Sequencing Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall world revenue for the Next Generation Sequencing Market will surpass US$8.0 billion in 2024
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Research and Clinical Collaborations are Expected to Enhance the NGS Market
Research and clinical collaborations are likely to play a significant role in augmenting the next generation sequencing (NGS) market. These collaborations can drive innovation, reduce costs, and expand the application of NGS technologies. Collaborations bring together experts from various fields, such as genomics, bioinformatics, clinical medicine, and data science, fostering interdisciplinary innovation. A rising number of NGS industry players are developing partnerships with major diagnostics and pharmaceutical businesses, which is a key step towards furthering the use of NGS in clinical settings and personalised medicine.
For instance, on 5th January 2024, Illumina Inc., a global pioneer in DNA sequencing and array-based technologies, said that it has entered into a collaboration with Janssen Research & Development, LLC. This will be the first cooperation to create Illumina, Inc. revolutionary molecular residual disease assay, a WGS (whole-genome sequencing) multi-cancer research service that can detect circulating tumour DNA (ctDNA) to better understand disease persistence or recurrence following clinical intervention.
Pricing Pressure has Emerged as a Significant Barrier to the Growth of the Next-Generation Sequencing Market.
Pricing pressure is a significant restraint on the global expansion of the next generation sequencing (NGS) sector. Intense rivalry among prominent NGS providers has caused price wars, which can pressure corporate margins. Emerging companies and alternative sequencing technologies (e.g., nanopore sequencing) further increase competition, forcing existing players to lower prices to remain competitive.
Since biopharmaceutical companies are cautious to invest in the discovery of novel drugs, the global clinical research market is currently seeing slow growth. Price pressure is increasing the use of generic medications, which is likely to slow R&D investment growth. Due to easy access to prescriptions, the usage of generic drugs is rapidly increasing over the world. This is projected to have a negative impact on clinical research industry expansion, affecting the NGS market.
Key Questions Answered
- How is the next generation sequencing market evolving?
- What is driving and restraining the next generation sequencing market?
- How will each next generation sequencing submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each next generation sequencing submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading next generation sequencing markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the next generation sequencing projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of next generation sequencing projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the next generation sequencing manufacturing market?
- Where is the next generation sequencing market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising vaccine contract manufacturing prices and recent developments.
Next Generation Sequencing Market Dynamics
Market Driving Factors
- Rapid Technological Advancements is Boosting the NGS Market to Grow
- Research and Clinical Collaborations is Likely to Augment the NGS market
- Increasing Healthcare Spending
- Growing Disease Variation and Prevalence is Contributing to the Growing NGS Technology Demand
Market Restraining Factors
- Lack of Skilled Professionals is Hampering the Market Growth
- Pricing Pressure Becomes one of the Main Obstacles to the Expansion of the Global Next Generation Sequencing
- Privacy and Ethical Challenges
Market Opportunities
- Personalised Medicine and Precision Oncology Creates a Huge Opportunity for the Market to Grow
- Adoption of NGS in Biomarker Discovery and Drug Development as NGS have Accelerated the Development of Targeted Therapies
Supply Chain Analysis
Regulatory Framework
Emerging Markets and Megatrends
Porter's Five Forces Analysis
PESTLE Analysis
Leading companies and the potential for market growth
- Illumina, Inc.
- F. Hoffman-La Roche Ltd.
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- PerkinElmer, Inc.
- Eurofins Scientific
- Agilent Technologies
- Tecan Group
- Takara Bio
- 10x Genomics
- GenScript
- Integrated DNA Technologies
- Oxford Nanopore Technologies
Segments Covered in the Report
Type
- Consumables
- Bioinformatics
- Sequencing Services
- Whole Exome Sequencing
- Targeted Panels
- Whole-genome Sequencing
- Others
- Pre-sequencing Services
- Library Preparation and Target Enrichment
- Quality Control
- Instruments
Workflow
- Library Preparation
- Semi-automated
- Automated
- Sequencing
- Data Analysis
- NGS Primary Data Analysis
- NGS Secondary Data Analysis
- NGS Tertiary Data Analysis
Application
- Oncology
- Diagnostics and Screening
- Research Studies
- Reproductive Health
- NIPT (Noninvasive Prenatal Testing)
- PGT (Preimplantation Genetic Testing)
- Newborn Genetic Screening
- Single Gene Analysis
- Genetic and Rare Diseases
- Consumer Genomics
- Agrigenomics & Forensics
- Others
End-use
- Hospitals and Clinics
- Academic and Research Institutes
- Pharmaceutical and Biotech Companies
- Others
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Denmark
- Norway
- Sweden
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Thailand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
MEA
- GCC
- South Africa
- Turkey
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/brx3py
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