Next Generation Sequencing Market Trends and Overview

The market size of Next Generation Sequencing (NGS) was estimated to be USD 6.8 billion in 2022. It is projected to reach USD 32.7 billion by 2030, with a compound annual growth rate (CAGR) of 21.7% during the forecast period from 2023 to 2030.

Next Generation Sequencing (NGS) is a rapidly growing field that holds immense potential for various industries. With its ability to analyze large volumes of genetic data quickly and cost-effectively, NGS has revolutionized the way we understand and utilize genetic information.

In 2022, the NGS market was valued at USD 6.8 billion, reflecting the increasing adoption of this technology across multiple sectors, including healthcare, agriculture, and research. However, this is just the beginning of its growth trajectory.

By 2030, the NGS market is expected to soar to USD 32.7 billion, driven by factors such as advancements in sequencing technologies, rising demand for personalized medicine, and the expanding applications of NGS in areas like oncology, infectious diseases, and genetic disorders.

The projected CAGR of 21.7% during the forecast period highlights the robust growth potential of the NGS market. This growth rate signifies the increasing acceptance of NGS as a powerful tool for understanding complex genetic variations and its potential to revolutionize diagnostics, drug discovery, and precision medicine.

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As the demand for NGS continues to rise, key players in the market are investing heavily in research and development to enhance sequencing technologies, improve data analysis capabilities, and expand the range of applications. This ongoing innovation and technological advancements are expected to drive the market's growth and unlock new opportunities in the coming years.

In conclusion, the Next Generation Sequencing market is poised for significant expansion, with a projected value of USD 32.7 billion by 2030. The remarkable growth rate of 21.7% during the forecast period underscores the increasing importance.

KEY MARKET SEGMENTATION:

By Product

• Consumables
  • Sample Preparation
  • Target Enrichment
  • Others
• Platforms
  • Sequencing
  • Data Analysis

 By Technology

• WGS
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing
  • DNA-based
  • RNA-based

By Workflow

• Pre-Sequencing
  • NGS Library Preparation Kits
  • Semi-automated Library Preparation
  • Automated Library Preparation
• Sequencing
• NGS Data Analysis
  • NGS Primary Data Analysis
  • NGS Secondary Data Analysis
  • NGS Tertiary Data Analysis

By Application

• Oncology
  • Diagnostics and Screening
    • Oncology Screening
      • Sporadic Cancer
      • Inherited Cancer
    • Companion Diagnostics
    • Other Diagnostics
  • Research Studies
• Clinical Investigation
  • Infectious Diseases
  • Inherited Diseases
  • Idiopathic Diseases
  • Non-Communicable/Other Diseases
• ReProduct & Serviceive Health
  • NIPT
    • Aneuploidy
    • Microdeletions
  • PGT
    • Newborn Genetic Screening
    • Single Gene Analysis
  • HLA Typing/Immune System Monitoring
  • Metagenomics
  • Epidemiology & Drug Development
  • Agrigenomics & Forensics
  • Consumer Genomics

By End User

• Academic Research
• Clinical Research, Hospitals & Clinics
• Pharma & Biotech Entities
• Other Users

KEY PLAYERS:

The major key players are Illumina, F. Hoffman-La Roche Ltd., QIAGEN, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies, PierianDx, Genomatix GmbH, DNASTAR, Inc., Perkin Elmer, Inc., Eurofins GATC Biotech GmbH, BGI, and Others.

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