Market Overview

The Next Generation Sequencing Market Size was evaluated at USD 9.46 billion in 2021 and is expected to expand from USD 11.23 billion in 2022 to USD 44.24 billion by 2030, representing a compound yearly growth rate (CAGR) of 18.70% during the forecast period (2022- 2030). Certain advances in technology in sequencers have risen the demand for portable, easy-to-use, and more efficient NGS platforms. This advancement in technology has helped in providing accurate and rapid consequences with a large number of turnarounds. The emergence of these new and innovative products has offered a competitive spirit among the companies where they are carrying out certain research and developmental activities which have propelled the market size. Due to certain investments in NSG units, certain developing regions are not able to spend sufficient sums which was a major challenge for the market. Certain government organizations are working on genomes where certain research activities and adopting different treatment methods for cancer, and certain other conditions. NGS technology has played a most important role in determining the genetic sequencing of the COVID virus which has helped the scientists for understanding the mutation so being carried in the virus. The sequencing method has been used in the oncology department for diagnosing the tissue sample. The rise in portability, flexibility, and adoption of easy methods has improved the industry.

Market Segmentation

As per the sequencing the market is being classified based on type into targeted sequencing services, Amplicon Sequencing, RNA Sequencing services, Ribosome Profiling, De Novo Sequencing Services, Degradome Sequencing, Exome Sequencing Services, Methyl Sequencing, Chip Sequencing Services, and Whole-genome Sequencing. As per the technology, the market is being classified into Nanopore Sequencing, Sequencing by synthesis, Single-molecule real-time sequencing, Ion Semiconductor Sequencing, and others.

Regional Classification

There are certain growth-promoting factors in the Chinese region like the endorsement of reimbursement policies which have helped in promoting the sequencing industry. Its government is focussing majorly on the research activities of the diagnostics so being carried out along with the end-user units. A reduction in coats in this unit has resulted in providing a sequential procedure.  The improvement of favorable government policies and less costs of manpower especially in this region has helped in promoting the growth of the next generation sequencing market. The European region has occupied this second-largest market growth where they are constantly focussing on adopting new products. The company in the United Kingdom has a wide infrastructure that has been dedicated to NGS custom cancer which enables the researchers to focus on cancerous genes.

Key Players –

Key players in the next-generation sequencing market research include Becton Eurofins Scientific (US), Illumina, Inc. (US), Genome Life Sciences (India), GenScript (US), Thermo Fisher Scientific, Inc. (US), Qiagen (Germany), PerkinElmer, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Pacific Biosciences of California, Inc. (US), Xcelris Genomics (India), and others.

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