IMARC Group has recently released a new research study titled “Next-Generation Sequencing (NGS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the NGS market trends, drivers, segmentation, growth opportunities and competitive landscape to understand the current and future market scenarios. The market size reached US$ 17.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.9 Billion by 2028, exhibiting a growth rate (CAGR) of 18.5% during 2023-2028.
Industry Definition and Application:
Next-generation sequencing (NGS) is a parallel sequencing technique that provides extremely high throughput, scalability, and speed. This approach can also ascertain the nucleotide sequence of entire genomes or specific deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) portions.
It involves various procedures, including single-molecule real-time (SMRT), sequencing by synthesis (SBS) and ion semiconductor, and nanopore sequencing. It allows the simultaneous examination, identification, and study of a variety of genomic characteristics in a single sequencing run, due to which it is witnessing a considerable surge in demand in the pharmacogenomics industry.
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Next-Generation Sequencing (NGS) Market Trends:
The growing product application in clinical diagnosis and the rising use of genetic maps to analyze genes are primary factors creating a positive outlook for the market. Moreover, the burgeoning healthcare expenditure and rapid technological advancements in sequencing are accelerating the global next-generation sequencing (NGS) market growth. Furthermore, the surging prevalence of cancer has increased the use of NGS technologies to introduce non-invasive cancer biomarkers for real-time cancer detection and monitoring, which is providing a significant boost to the market growth. In line with this, key market players are integrating cloud-computing systems with NGS for enhanced data security and management, which is favoring the market growth. Apart from this, rising investments in research and development (RD) activities and the increasing geriatric population across the globe are supporting the market growth.
Competitive Landscape With Key Players:
The competitive landscape of the next-generation sequencing market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Agilent Technologies
- Becton Dickinson and Company
- 10x Genomics
- BGI Group
- Eurofins Scientific
- F. Hoffmann-La Roche AG
- Illumina Inc.
- Genewiz, Macrogen
- Oxford Nanopore Technologies
- Pacific Biosciences
- PerkinElmer
- Thermo Fisher Scientific
- Qiagen N.V.
- GenapSys Inc.
Key Market Segmentation:
The report has segmented the global next-generation sequencing market based on sequencing type, product type, technology, application, end-user and region.
Breakup by Sequencing Type:
- Whole Genome Sequencing
- Targeted Resequencing
- Whole Exome Sequencing
- RNA Sequencing
- CHIP Sequencing
- De Novo Sequencing
- Methyl Sequencing
- Others
Breakup by Product Type:
- Instruments
- Reagents and Consumables
- Software and Services
Breakup by Technology:
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- Single-Molecule Real-Time Sequencing
- Nanopore Sequencing
- Others
Breakup by Application:
- Drug Discovery and Personalized Medicine
- Genetic Screening
- Diagnostics
- Agriculture and Animal Research
- Others
Breakup by End-User:
- Academic Institutes Research Centers
- Hospitals Clinics
- Pharmaceutical Biotechnology Companies
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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