Global Next Generation Sequencing Market - WishTree Insight

Global Next Generation Sequencing Market by Technology (Target Sequencing & Resequencing), Application (Oncology, Consumer Genomics), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Next Generation Sequencing market size was valued at USD 4.8 billion in 2021 and is expected to surpass USD XX billion by 2031, expanding at a CAGR of 12.5 % during the forecast period, 2021–2031. The market's growth is attributed to the growing technological developments in NGS instruments.

INTRODUCTION

Next Generation Sequencing refers to DNA sequencing methods and results in genomic discovery. The advantages of next-generation sequencing (NGS) are rapid and accurate sample analysis, cost-effectiveness, and technological advancements. The development of genomics programs in a number of countries is expected to benefit the market.

Market Trends, Drivers, Restraints, and Opportunities

• Extensive adoption of NGS technologies in clinical diagnostics due to rapid result time and faster processing are expected to create lucrative growth in the market.
• Growing technological developments in NGS instruments and technologies are anticipated to offer significant growth in the global next-generation sequencing market.
• The development of genomics programs in a number of countries is expected to boost the global next-generation sequencing market.
• The advent of next-generation sequencing-based diagnose, with proactive government support is expected to spur market growth.

Scope of the Report

Market Segment Insights

The targeted sequencing & resequencing segment is projected to register a considerable CAGR

Based on technology, the next generation sequencing market is divided into target sequencing & resequencing. The target sequencing & resequencing segment is expected to expand at a rapid pace during the forecast period owing to the availability of a large amount of whole genome data.

The Oncology segment is expected to expand at a rapid pace

Based on application, the next-generation sequencing market is divided into oncology, and consumer genomics. The oncology segment is expected to expand at a rapid pace during the forecast period owing to the growing prevalence of cancer warrants the use of the latest technology to enable the application of NGS, RNA, and DNA. However, the consumer genomics segment is anticipated to hold a key share of the market in the coming years owing to the continuous introduction of new products by the key players.

The North American region is anticipated to constitute a key market share

In terms of regions, the next-generation sequencing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the North American region is expected to constitute a key share of the market during the projected period owing to the presence of multiple clinical laboratories that employ NGS to provide genetic testing services. However, the market of the Asia pacific is anticipated to expand at a rapid pace during the forecast period due to the presence of significant developments for technological integration of NGS methodologies and the development of healthcare, clinical development framework of emerging economies, and R & D.

Competitive Landscape

Key players competing in the Next Generation Sequencing market are QIAGEN N.V. (Netherlands); Thermo Fisher Scientific, Inc. (U.S.); Oxford Nanopore Technologies (U.K.); Genomatix GmbH (U.S.); Perkin Elmer, Inc. (U.S.); Eurofins GATC Biotech GmbH (Germany).

FAQs

Mention the market size of the Next Generation Sequencing in 2021.

The market size of Next Generation Sequencing in 2021 was USD 4.8 billion.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 12.5%.

What are the key drivers of the market?

The market's growth is attributed to the growing technological developments in NGS instruments.

What segments are covered in the Next Generation Sequencing report?

The segments covered in the report are technology (target sequencing & resequencing), and application (oncology, consumer genomics).

Mention which region is expected to hold the highest share of the Next Generation Sequencing market.

The North American region is expected to hold the highest share of the Next Generation Sequencing market.

Which segment holds the largest market share in Next Generation Sequencing by 2031?

The oncology segment holds the largest market share in Next Generation Sequencing by 2031.

Mention the key players in the market.

QIAGEN N.V. (Netherlands); Thermo Fisher Scientific, Inc. (U.S.); Oxford Nanopore Technologies (U.K.); Genomatix GmbH (U.S.); Perkin Elmer, Inc. (U.S.); Eurofins GATC Biotech GmbH (Germany).