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