Next Generation Sequencing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

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Next Generation Sequencing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

Status : January, 2023 | Biotechnology

Report Digest


Next Generation Sequencing Market: Overview

The next generation sequencing market has been predicted to expand at a noteworthy pace owing to increasing genome mapping programs. Furthermore, technological advancements across sequencing platforms, increasing healthcare expenditure, and growing use of next generation sequencing are likely to bolster growth opportunities in the market in the years to come.

NGS (next generation sequencing) is basically massive parallel sequencing technology. It provides high speed, ultra-high throughput, and scalability in order to determine the nucleotides order in the entire genome.

Next Generation Sequencing Market: Key Trends

There has been a significant increase in the investment that has been made to by industry players to conduct R & D activities that are related to NGS technologies. In addition to this, surging demand for the program related to genome mapping is predicted to fuel growth avenues in the market. Rising NGS application across different industries is estimated to contribute to market growth.

On the flip side, the legal and ethical limitations that are related to NGS have been expected to limit revenue generation opportunities in the next generation sequencing market in the years to come. Furthermore, the lack of skilled professionals in the industry is also likely to restrict growth avenues in the market.

At the present time, there has been a noticeable increase in the trends that are owing to technological advancements, especially the use of nanopore sequencing in NGS. Along with this, an increasing requirement in order to improve the diagnostic processes has also been predicted to fuel growth avenues in the market.

Next Generation Sequencing Market: Competitive Dynamics and Key Developments

The key players serving in the next generation sequencing market are adopting various strategies in order to generate revenue generation opportunities in the coming years.

For instance, Thermo Fisher Scientific is a global leader who is serving science. The company has launched Ton Torrent Genexus System in 2019. It is basically the next generation platform that efficiently delivers specimens to report during the period of one single day.

Agilent Technologies, Inc. is an analytical development and manufacturing organization that is operating in America. The company has launched the Magnis NGS Prep System in 2019 which is basically a system related to the preparation of next generation sequencing library and is designed in order to run complex sequencing assays.

The key players serving in the next generation sequencing market include:

  • Illumina Inc.
  • PerkinElmer, Inc.
  • Agilent Technologies, Inc.
  • Thermo Fisher Scientific Inc.
  • BGI Group
  • PierianDx Inc.
  • F. Hoffmann-La Roche AG
  • Precigen Inc.
  • Qiagen N.V.
  • Pacific Biosciences of California, Inc.

Next Generation Sequencing Market: Regional Assessment

The next generation sequencing market is classified primarily into North America, Asia Pacific, Europe, and LAMEA based on geographical locations. Among these regional locations, North America is likely to account for a significant share of the market and likely to maintain its dominance in the years to come. These growth impetuses in the market are due to technological advancements across sequencing platforms. Along with this, rising applications of NGS in North America are predicted to contribute to market growth.

Asia Pacific is projected to grow at a noteworthy CAGR owing to increasing demand for NGS in addition to rising awareness related to NGS among the regional population.

Frequently Asked Questions:

What are the diverse growth parameters influencing the next generation sequencing market?

The next generation sequencing market is anticipated to experience noteworthy growth opportunities owing to rising number of genome mapping programs.

Which regions will contribute largely to the growth of the next generation sequencing market?

North America, Asia Pacific, Europe, and LAMEA

What are the recent innovations and technological advancements in the next generation sequencing market?

Numerous technological advancements, for instance use of nanopore sequencing across NGS are expected to increase growth avenues in the market.

What are the emerging trends across the next generation sequencing market?

The surging requirement for genome mapping programs is anticipated to attract trends in the next generation sequencing market.

What are the major threats that will dent the growth prospects of the next generation sequencing market?

The legal and ethical limitations about NGS are estimated to restrict growth opportunities in the market.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

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The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?