Next Generation Sequencing (NGS) Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

Next Generation Sequencing (NGS) Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

November 15
00:38 2022
Next Generation Sequencing (NGS) Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence
DataM Intelligence
Next-Generation Sequencing Market is expected to grow at a high CAGR during the forecasting period 2022-2029.

Market Overview:

Next-Generation Sequencing (NGS) is a generation wherein hundreds of thousands of DNA strands may be sequenced through huge parallelization, this method is likewise known as excessive throughput sequencing. The low value, excessive accuracy and velocity, and particular outcomes even from low sample inputs are the main benefits NGS gives over Sanger’s sequencing technique. DNA pre-sequencing is one of the maximum huge steps in the typical sequencing protocol because it includes instruction of sample for the following sequencing reaction.

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Market Dynamics

The advancements in NGS systems will force the market boom

Continuous technological improvements in sequencers have enabled the introduction of green, transportable, and smooth-to-use NGS structures, capable of imparting speedy and accurate outcomes and boasting stepped forward turnaround times. The creation of such products and the technologies in the back of them offers a direct aggressive aspect to gamers; as a result, distinguished organizations are an increasing number of focusing at the studies and improvement of such products to reinforce their market positions and stocks.

NGS has been considered the most mighty device in diagnostics and in researches to recognize the treatment regimen for diverse sicknesses, which includes cancer, infectious illnesses, cardiovascular illnesses, and so forth. According to the USA National Institutes of Health, National Human Genome Research Institute, in 2017, most of the uncommon sicknesses have been genetic in nature.

There has been non-stop progress in know-how diseases on the genomic stage and molecular stage, and diverse organizations are deploying assets in the testing of those sicknesses to leverage opportunities which is likewise fueling the marketplace opportunities.

For example, in August 2020, GeneDx Inc., a subsidiary of BioReference Laboratories Inc., and OPKO Health entered an agreement with Pediatrix Medical Group to provide contemporary, next-era genomic sequencing to guide scientific analysis in rare sicknesses for neonatal extensive care gadgets. Also, in 2017, Myriad Genetics Inc. Launched the EndoPredict check for sufferers with ER+ HER2- early-level breast most cancers.

Market Segmentation:

By Product

  • Reagents and Consumables
  • Instruments
  • Others

By Application

  • Agriculture and Animal Research
  • Drug Discovery
  • Diagnostics
  • Genetic Screening

By Technology

  • Whole Genome Sequencing
  • Chip Sequencing
  • De Novo Sequencing
  • RNA Sequencing

By End User

  • Academics
  • Biotechnology and Pharmaceutical Firms
  • Hospitals and Healthcare Institutions
  • Services

Competitive Landscape

The Next-Generation Sequencing (NGS) Market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Agilent Technologies, Bio-Rad Laboratories Inc., DNASTAR Inc., Eurofins Scientific, F. Hoffmann-La Roche Ltd, Illumina Inc., Macrogen Inc., Pacific Biosciences of California Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc. among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Next-Generation Sequencing (NGS) Market globally. For instance in August 2020, Guardant Health Inc. received the United States Food and Drug Administration (FDA) approval for Guardant360 CDx, the first liquid biopsy companion diagnostic that also uses next-generation sequencing (NGS) technology for tumor mutation profiling, also known as comprehensive genomic profiling (CGP), in patients with any solid malignant neoplasm (cancerous tumor).

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