Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "United States Next Generation Sequencing Market Report by Products, Application, Technology, End-users, and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States next-generation sequencing (NGS) market is set to expand from US $3.16 billion in 2023 up from US$13.75 billion by 2032, with the compound annual growth rate of 17.75% from 2024 to 2032. This market growth is driven by improvements in genomics technology, the trend towards the increased adoption of biotechnology and pharmacogenomics and increased research and development expenditure in biotechnology and healthcare industries. 
Increasing Demand for Personalized Medicine
An increase in the prevalence of targeted therapies is an underlying growth factor for the Next Generation Sequencing (NGS) market in the United States. In the current healthcare market, patients are now being treated based on their genotyping or phenotyping, therefore NGS is important in analyzing several mutations or variations. It also allows healthcare personnel to choose a specific treatment, which in turn leads to better success rates and fewer side effects. Due to more and more patients' and doctors' recognition of genetic testing, there are greater numbers of investments in NGS, technology and services.
Advancements in NGS Technology
The evolution of NGS equipment and its constant improvement are contributing to the exponential growth of the market. Advancements like higher accuracy of the sequence, faster NGS, and decreasing costs make it highly relevant for applications in research as well as diagnostic areas. Modern bioinformatics tools and software have also advanced, which help in deciphering the complicated genomic data. Technological advancements of these technologies get more users and increase the areas of application of NGS, hence more adoption in diverse fields. The acquisition of Verogen, a company which applies NGS technologies for human identification and forensic investigation was confirmed in January 2023 by QIAGEN. The acquisition of Verogen's NGS tools, and professional services helps the company diversify its product offering.
Growing Applications in Research and Clinical Diagnostics
Technology advancement in the field of NGS in research, diagnostics, and therapeutics are essential for growth in the market. In a clinical context NGS improves the diagnostic yield especially in oncology and genetic disorders. Because of NGS-based tests gaining regulatory approval, use of these technologies is more likely to integrate into daily practice, thus advancing the market and the care of patients.
Another interesting fact about the NGS market is that various government programmes in the United States have sponsored its funding immensely. The CDC provides financing for a large number of public health-related projects, including those aimed at programs on genomic surveillance. In September 2022, The American Rescue Plan funded USD 1.7 billion to support the genomic surveillance strategies that shall be implemented across the country. From this funding, there will be a part dedicated to innovation while USD 90 million will be set to support the sustenance of Pathogen Genomics Centers of Excellence network for the coming five years. CDC funding is used in order to promote NGS implementation in public health laboratories in order to increase their ability for the identification, characterization, and response to pathogens.
United States Next Generation Sequencing Company Analysis
The top companies in the United States Next-Generation Sequencing Market are Illumina, Thermo Fisher Scientific, Pacific Biosciences, QIAGEN, Roche, Bio-Rad Laboratories, Takara Bio, Hamilton Company and BioMerieux.
United States Next Generation Sequencing Company News
- In January 2024, Illumina and Janssen Research & Development are collaborating to create a molecular residual disease assay to detect circulating tumor DNA and improve our understanding of disease persistence or recurrence after clinical intervention.
- In May 2023, Thermo Fisher Scientific Inc. and Pfizer are partnering to expand access to next-generation sequencing testing for lung and breast cancer patients in over 30 countries across Africa, Latin America, Asia, and the Middle East. This collaboration aims to expedite the analysis of relevant genes for more informed patient therapy decisions.
- In April 2023, Agilent Technologies Inc. unveiled a new NGS assay designed to advance precision oncology through comprehensive genomic profiling.
- In September 2023, Neuron23, a U.S.-based biotech company, partnered with QIAGEN to create a complementary diagnostic tool for Neuron23's LRRK2 inhibitor, which is used to treat Parkinson's disease. The assay is integrated into an NGS workflow using QIAGEN's capabilities.
Company Analysis:
- Illumina
- Thermo Fisher Scientific
- Pacific Biosciences of California
- QIAGEN
- Roche
- Bio-Rad Laboratories
- Takara Bio
- Hamilton Company
- Geneious
- BioMerieux
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $3.16 Billion |
| Forecasted Market Value (USD) by 2032 | $13.75 Billion |
| Compound Annual Growth Rate | 17.7% |
| Regions Covered | United States |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. United States Next Generation Sequencing Market
6. Market Share
6.1 By Products
6.2 By Application
6.3 By Technology
6.4 By End User
7. Products
7.1 Instruments
7.2 Reagents & Consumables
7.3 Services
8. Application
8.1 Diagnostics
8.2 Agriculture and Animal Research
8.3 Drug Discovery
8.4 Personalized Medicine and Genetic Screening
8.5 Others
9. Technology
9.1 Sequencing by Synthesis
9.2 Ion Semiconductor Sequencing
9.3 Single Molecule Read Time Sequencing
9.4 Nanopore Sequencing
9.5 Others
10. End User
10.1 Academic and Clinical Research Centers
10.2 Pharmaceutical and Biotechnology Companies
10.3 Hospitals and Clinics
10.4 Others
11. Porter's Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
- Illumina
- Thermo Fisher Scientific
- Pacific Biosciences of California
- QIAGEN
- Roche
- Bio-Rad Laboratories
- Takara Bio
- Hamilton
- Geneious
- BioMerieux
For more information about this report visit https://www.researchandmarkets.com/r/q4cg67
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