Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Next Generation Sequencing (NGS) Market - A Global and Regional Analysis: Focus on Offering, Company, Throughput, Technology Type, Sequencing, Application, End User, and Country Analysis - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The NGS market on a global scale achieved a valuation of $6.76 billion in 2022, with projections indicating a staggering growth to $28.47 billion by 2033, at an impressive CAGR of 13.97% during the forecast period from 2023 to 2033.
This remarkable expansion is attributed to several key drivers, including the rising adoption of NGS in diverse research and diagnostics domains, the increasing prevalence of non-communicable disorders, and advancements in NGS platform performance.
Despite being highly consolidated, the global NGS market still harbors substantial growth potential due to ongoing technological developments in NGS platforms and healthcare sector initiatives to integrate genomics.
An exciting opportunity for growth within the NGS market lies in the development of cost-effective and portable technologies.
Impact of COVID-19
NGS has played a crucial role in the genomic surveillance of SARS-CoV-2, the virus responsible for COVID-19. Sequencing the viral genome has helped in tracking the spread of different variants and understanding their genetic characteristics, which has been essential for public health efforts, vaccine development, and treatment strategies.
NGS has been employed in studies investigating the genetic susceptibility to COVID-19 and its severity. By sequencing the genomes of affected individuals, researchers have sought to identify genetic variations associated with the risk of infection, disease progression, and response to treatment.
However, while NGS testing shot up in the research laboratories studying the transmission of the SARS-CoV-2 virus, NGS testing in the clinical setting witnessed a significant drop. The global supply chain for NGS instruments, consumables, and reagents experienced severe disruptions due to the pandemic.
Manufacturing and shipping delays impacted the availability of NGS products and tests, especially in developing regions such as the Middle East, Africa, or Rest-of-the-World.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 385 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $7.7 Billion |
| Forecasted Market Value (USD) by 2033 | $28.47 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Global |
Market Segmentation
- The global NGS market (by offering) is expected to be dominated by the consumables segment.
- The global NGS market (by company) is expected to be dominated by Illumina, Inc.
- The global NGS market (by throughput) is expected to be dominated by the high- and ultra-high throughput segment.
- The global NGS market (by technology type) is expected to be dominated by the sequencing by synthesis segment.
- The global NGS market (by sequencing) is expected to be dominated by the targeted sequencing segment.
- The global NGS market (by application) is expected to be dominated by the research segment. Within further sub-segmentation, the market is expected to be dominated by the oncology segment.
- The global NGS market (by end user) is expected to be dominated by the academic and research insitutes segment.
Recent Developments in the Global NGS Market
- In April 2023, NGeneBio signed a business agreement with Agilent Technologies, Inc.'s Korea-based subsidiary, to expand the NGS precision diagnosis in South Korea and abroad.
- In March 2023, Sophia Genetics partnered with Agilent Technologies Inc. to integrate its Sophia DDM Platform with Agilent Technologies Inc.'s research-use-only SureSelect Cancer Comprehensive Genomic Profiling (CGP) assay kit.
- In March 2023, Thermo Fisher Scientific Inc. collaborated with Pfizer to expand access to NGS-based lung and breast cancer testing in more than 30 countries.
Key Companies Profiled
- BGI Group
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Pacific Biosciences of California, Inc.
- Oxford Nanopore Technologies plc.
- Agilent Technologies, Inc.
- Qiagen N.V.
- Pillar Biosciences
- Burning Rock Biotech Limited
- Singular Genomics Systems, Inc.
- DANAHER Corporation
- F. Hoffmann-La Roche Ltd
- Twist Bioscience Corporation
- Revvity, Inc.
- Centogene N.V.
- Element Biosciences
- Ultima Genomics
- Genes2me
- LifeStrands Genomics Pte. Ltd.
- Alithea Genomics
- Real Seq Biosciences
Market Dynamics
Business Drivers
- Decreasing Cost of Genome Sequencing
- Potential of NGS in the Field of Oncology Research and as a Companion Diagnostic for Oncology in Clinical Settings
- Growing Number of Population-Wide Sequencing Studies and Government Initiatives to Integrate NGS in Healthcare
- Advantages of NGS Technology over Other Technologies
Business Restraints
- Concerns Surrounding the Privacy of Patient Genomic Data
- Lack of Complete Reimbursement Coverage for NGS Testing
Business Opportunities
- Evolving Regulatory Landscape for Clinical NGS
- Growing Number of Gene Mutations across Various Diseases
Industry Outlook
NGS: Overview
- Historical Trends
- Comparative Analysis of Various Technologies
- Global NGS Market: Overview
- Emerging NGS Technologies
- In-Situ Sequencing
- Microscopy-Based Sequencing
Future of Ultra-High Throughput NGS
- Current Market Scenario
- For Researchers
- For Diagnostics
- COVID-19 Impact on the Global NGS Market
Supply Chain Analysis
Key Entities in Supply Chain
Research Publications
Primary Insights
Pricing Analysis
For more information about this report visit https://www.researchandmarkets.com/r/lub3aw
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