Next Generation Sequencing (NGS) Market is expected to generate a revenue of USD 49.76 Billion by 2030, Globally, at 20.82% CAGR: Verified Market Research®

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Sep 16, 2022, 10:15 ET

New advancements in next-generation sequencing technology, as well as lower costs, are some of the factors that have contributed to the rapid growth of the global next-generation sequencing market in recent years

JERSEY CITY, N.J., Sept. 16, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Next Generation Sequencing (NGS) Market" By Product And Services (Consumables, Platforms), By Application (Diagnostics, Oncology), By Technology (Sequencing By Synthesis, Targeted Sequencing), By End User (Biotechnology Companies, Hospitals And Clinics), and By Geography.

According to the extensive research done by Verified Market Research experts, the market was valued at USD 9.12 Billion in 2022 and is projected to reach USD 49.76 Billion by 2030, growing at a CAGR of 20.82% from 2023 to 2030.

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Browse in-depth TOC on "Next Generation Sequencing (NGS) Market"

202 - Pages
126 – Tables
37 – Figures

Key Developments

Thermo Fisher Scientific and Chugai Pharmaceutical Co., Ltd. signed a companion diagnostic (CDx) agreement in July 2020, and Thermo Fisher Scientific applied to the Ministry of Health, Labour, and Welfare (MHLW) to expand the use of the Oncomine Dx Target Test in Japan.
In January 2021, The Thalassemia Gene Detection Kit (Combinatorial Probe-Anchor Synthesis Sequencing Method), It has received CE mark approval for genetic diagnosis of thalassemia and other hemoglobinopathies, as well as general population carrier screening.
Cerba Research introduced two new PCR-based and NGS-based Covid-19 exploratory tools in January 2021 to enhance R&D for vaccine development against infectious diseases.

Global Next Generation Sequencing (NGS) Market Overview

The term "next-generation sequencing" (NGS) refers to DNA sequencing technology that has had a substantial impact on the area of genetics. There are various types of NGS systems that use sequencing technology available today. All next-generation sequencing technology can simultaneously sequence millions of little fragments of DNA, which is a considerable advantage. Next-generation sequencing is a technology for sequencing whole genomes.

Next-generation sequencing techniques can also be used to sequence genomes with specific areas of interest. This category contains all 20000 coding genes, as well as a few individual genes. Next-generation sequencing has the ability to detect more mutations than standard Sanger sequencing. Due to various technical and functional developments, high-throughput sequencing, often known as "next-generation sequencing" (NGS), has gained wider acceptance in clinical practice.

The usage of liquid biopsies for early cancer detection and monitoring is moving the global Next Generation Sequencing (NGS) Market forward. The market is being propelled forward by the shrinking of third-generation instruments, as evidenced by the release of sequencers the size of a hand. Next-generation sequencing technology is constantly advancing, and as a result, the industry is rapidly expanding. At the entry-level of the global next-generation sequencing sector, market innovators are emerging. This healthy amount of competition will lead to technological improvements.

Key Players

The major players in the market are Surmodics, Inc., Royal DSM, Hydromer Inc., Covalon Technologies Ltd., AST Products, Inc., Abbott, Precision Coating Company, Inc.

Verified Market Research has segmented the Global Next Generation Sequencing (NGS) Market On the basis of Product and Services, Application, Technology, End User, and Geography.

Next Generation Sequencing (NGS) Market, by Product and Services

Consumables
Platforms
Services

Next Generation Sequencing (NGS) Market, by Application

Diagnostics
Oncology
Reproductive Health
Personalized Medicine
Agriculture and Animal Research
Other

Next Generation Sequencing (NGS) Market, by Technology

Sequencing by Synthesis
Targeted Sequencing
Resequencing
Pyrosequencing
Single-Molecule Real-Time Sequencing
Others

Global Next Generation Sequencing (NGS) Market, by End User

Academic & Government Research Institutes
Pharmaceutical Companies
Biotechnology Companies
Hospitals & Clinics

Next Generation Sequencing (NGS) Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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