Next Generation Sequencing (NGS) Market: Trends, Forecast, and Competitive Landscape 2024–2031
Next Generation Sequencing (NGS) Market: Trends, Forecast, and Competitive Landscape 2024–2031
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The Next Generation Sequencing (NGS) Market sector is undergoing rapid transformation, with significant growth and innovations expected by 2030. In-depth market research offers a thorough analysis of market size, share, and emerging trends, providing essential insights into its expansion potential. The report explores market segmentation and definitions, emphasizing key components and growth drivers. Through the use of SWOT and PESTEL analyses, it evaluates the sector’s strengths, weaknesses, opportunities, and threats, while considering political, economic, social, technological, environmental, and legal influences. Expert evaluations of competitor strategies and recent developments shed light on geographical trends and forecast the market’s future direction, creating a solid framework for strategic planning and investment decisions.
Brief Overview of the Next Generation Sequencing (NGS) Market:
The global Next Generation Sequencing (NGS) Market is expected to experience substantial growth between 2024 and 2031. Starting from a steady growth rate in 2023, the market is anticipated to accelerate due to increasing strategic initiatives by key market players throughout the forecast period.
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Which are the top companies operating in the Next Generation Sequencing (NGS) Market?
The report profiles noticeable organizations working in the water purifier showcase and the triumphant methodologies received by them. It likewise reveals insights about the share held by each organization and their contribution to the market's extension. This Global Next Generation Sequencing (NGS) Market report provides the information of the Top Companies in Next Generation Sequencing (NGS) Market in the market their business strategy, financial situation etc.
Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Merck KGaA, Charles River Laboratories, Revvity, Promega Corporation., Agilent Technologies, Inc., Takara Bio Inc., Eurofins Scientific, Hamilton Company, BGI, Azenta US, Inc., Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., PacBio., Macrogen, Inc., Gilson Incorporated, New England Biolabs, Oxford Nanopore Technologies plc., LGC Biosearch Technologies, PCR Biosystems, ACT Genomics, Quantabio, DNASTAR, and NimaGen. among others
Report Scope and Market Segmentation
Which are the driving factors of the Next Generation Sequencing (NGS) Market?
The driving factors of the Next Generation Sequencing (NGS) Market are multifaceted and crucial for its growth and development. Technological advancements play a significant role by enhancing product efficiency, reducing costs, and introducing innovative features that cater to evolving consumer demands. Rising consumer interest and demand for keyword-related products and services further fuel market expansion. Favorable economic conditions, including increased disposable incomes, enable higher consumer spending, which benefits the market. Supportive regulatory environments, with policies that provide incentives and subsidies, also encourage growth, while globalization opens new opportunities by expanding market reach and international trade.
Next Generation Sequencing (NGS) Market - Competitive and Segmentation Analysis:
**Segments**
- Based on product & service, the market can be segmented into presequencing products & services, sequencing services, sequencing platforms & consumables, and bioinformatics.
- By technology, the market can be categorized into sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single-molecule real-time (SMRT) sequencing, nanopore sequencing, and others.
- On the basis of application, the NGS market can be divided into diagnostics, drug discovery, biomarker discovery, personalized medicine, agriculture & animal research, and others.
- Considering end user, the market includes academic research, clinical research, hospitals & clinics, pharmaceutical & biotechnology companies, and others.
**Market Players**
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Pacific Biosciences of California, Inc.
- PerkinElmer Inc.
- F. Hoffmann-La Roche Ltd
- Agilent Technologies, Inc.
- Qiagen
- BGI
- Macrogen, Inc.
- Oxford Nanopore Technologies
The next-generation sequencing market is anticipated to witness significant growth by 2030, driven by advancements in sequencing technologies, increasing applications in clinical diagnostics and drug discovery, and rising demand for personalized medicine. As the cost of sequencing continues to decrease and the speed and accuracy of sequencing platforms improve, the adoption of NGS in various industries is expected to surge. The increasing focus on precision medicine and the need for efficient and cost-effective sequencing solutions are also contributing to the market's growth.
In terms of product & service segments, the sequencing platforms & consumables segment is expected to hold a significant market share by 2030, owing to the continuous launch of advanced sequencing platforms and consumables by key market players. The bioinformatics segment is also projected to witness substantial growth due to the increasing demand for data analysis and interpretation tools in genomics research.
Among the technology segments, sequencing by synthesis is expected to dominate the market byThe next-generation sequencing (NGS) market is a dynamic and rapidly evolving sector driven by technological advancements and increasing applications across various industries. Illumina, Inc., a prominent player in the NGS market, continues to lead the way with its cutting-edge sequencing platforms and consumables. Thermo Fisher Scientific, Inc., another key player, also offers a wide range of sequencing solutions catering to the diverse needs of researchers and clinicians. Pacific Biosciences of California, Inc., known for its long-read sequencing technology, has carved a niche for itself in the market.
PerkinElmer Inc. and F. Hoffmann-La Roche Ltd are major players offering comprehensive NGS solutions that cater to both research and clinical applications. Agilent Technologies, Inc. is a trusted name in the field of genomics, providing high-quality sequencing products and services. Qiagen, renowned for its molecular diagnostics and sample preparation technologies, plays a crucial role in the NGS market landscape.
BGI, a global genomics leader, is known for its large-scale sequencing services and innovative research collaborations. Macrogen, Inc. and Oxford Nanopore Technologies are also key players shaping the future of NGS with their unique sequencing platforms and technological innovations.
The NGS market is poised for significant growth, fueled by the increasing demand for personalized medicine and the expanding applications of genomics in diagnostics and drug discovery. Academic research institutions, clinical laboratories, hospitals, pharmaceutical, and biotechnology companies are among the primary end-users driving the adoption of NGS technologies.
As sequencing technologies continue to advance, the cost of sequencing is expected to decline further, making NGS more accessible across different sectors. The integration of NGS with bioinformatics tools has revolutionized data analysis and interpretation in genomics research, enabling researchers to uncover valuable insights from vast genomic datasets.
The emergence of new sequencing techniques such as single-molecule real-time (SMRT) sequencing and nanopore sequencing promises to revolutionize the field of genomics by offering faster, more accurate**Market Players:**
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- QIAGEN
- Merck KGaA
- Charles River Laboratories
- Revvity
- Promega Corporation.
- Agilent Technologies, Inc.
- Takara Bio Inc.
- Eurofins Scientific
- Hamilton Company
- BGI
- Azenta US, Inc.
- Beckman Coulter, Inc.
- Bio-Rad Laboratories, Inc.
- PacBio.
- Macrogen, Inc.
- Gilson Incorporated
- New England Biolabs
- Oxford Nanopore Technologies plc.
- LGC Biosearch Technologies
- PCR Biosystems
- ACT Genomics
- Quantabio
- DNASTAR
- NimaGen
The Next-Generation Sequencing (NGS) market is experiencing significant growth opportunities and is poised for substantial expansion by 2030. Key drivers fueling this growth include ongoing advancements in sequencing technologies, expanding applications in clinical diagnostics, drug discovery, and the increasing adoption of personalized medicine. The decreasing cost of sequencing, coupled with enhanced speed and accuracy of sequencing platforms, is boosting the uptake of NGS across various industries. Additionally, the rising emphasis on precision medicine and the demand for efficient, cost-effective sequencing solutions are further propelling market growth.
In terms of product and service segments, the Sequencing Platforms & Consumables segment is expected to retain a significant market share due to the continuous introduction of advanced sequencing platforms
North America, particularly the United States, will continue to exert significant influence that cannot be overlooked. Any shifts in the United States could impact the development trajectory of the Next Generation Sequencing (NGS) Market. The North American market is poised for substantial growth over the forecast period. The region benefits from widespread adoption of advanced technologies and the presence of major industry players, creating abundant growth opportunities.
Similarly, Europe plays a crucial role in the global Next Generation Sequencing (NGS) Market, expected to exhibit impressive growth in CAGR from 2024 to 2030.
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Key Benefits for Industry Participants and Stakeholders: –
- Industry drivers, trends, restraints, and opportunities are covered in the study.
- Neutral perspective on the Next Generation Sequencing (NGS) Market scenario
- Recent industry growth and new developments
- Competitive landscape and strategies of key companies
- The Historical, current, and estimated Next Generation Sequencing (NGS) Market size in terms of value and size
- In-depth, comprehensive analysis and forecasting of the Next Generation Sequencing (NGS) Market
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters
The countries covered in the Next Generation Sequencing (NGS) Market report are U.S., copyright and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA
Detailed TOC of Next Generation Sequencing (NGS) Market Insights and Forecast to 2030
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Next Generation Sequencing (NGS) Market Landscape
Part 05: Pipeline Analysis
Part 06: Next Generation Sequencing (NGS) Market Sizing
Part 07: Five Forces Analysis
Part 08: Next Generation Sequencing (NGS) Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers And Challenges
Part 13: Next Generation Sequencing (NGS) Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix
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