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The global Next-Generation Sequencing Market was valued at USD 9.28 billion in 2021

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The global Next-Generation Sequencing Market was valued at USD 9.28 billion in 2021

August 01
15:25 2022
The global Next-Generation Sequencing Market was valued at USD 9.28 billion in 2021

The global Next-Generation Sequencing market was valued at USD 9.28 billion in 2021, growing at a CAGR of 18.96% during the forecast period from 2022 to 2027, to reach USD 26.30 billion by 2027. The increase in demand for Next-Generation Sequencing is primarily attributed to the rising cases of infectious diseases such as the sudden outbreak of COVID-19 and the escalating burden of cancer, worldwide. Moreover, the rising application of NGS technology in clinical diagnosis and scientific research, and advantages such as efficient turnaround results, high speed, and accuracy exhibited by the NGS technology, among others are some of the factors that would contribute to the global Next-Generation Sequencing market growth in the forthcoming years.

 

Next-Generation Sequencing Overview

Next-Generation Sequencing is a massively parallel technology for determining the RNA or DNA sequence to provide information regarding genetic variation associated with diseases or other biological phenomena. The technology offers scalability, high throughput, and speed thereby allowing labs to perform a wide variety of applications.

 

Download Sample Report- https://www.delveinsight.com/sample-request/next-generation-sequencing-market

 

Regions covered in the report

  • Global

 

Recent Developmental Activities in the Next-Generation Sequencing Market:

  • In December 2021, Roche launched the AVENIO Edge System to simplify and automate next-generation sequencing sample preparation, reduce human error and advance precision medicine.
  • In May 2021, Illumina, Inc. and Next-Generation Genomics Co., Ltd. launched VeriSeq™ NIPT Solution v2 in Thailand, a CE-IVD, next-generation sequencing (NGS)-based approach to noninvasive prenatal testing (NIPT).
  • In February 2021, INOVIO and QIAGEN expanded collaboration to develop next-generation sequencing (NGS) companion diagnostic for INOVIO’s VGX-3100 for advanced cervical dysplasia.

 

Key Takeaways from the Next-Generation Sequencing Market Report Study

  • Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Next-Generation Sequencing market.
  • Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
  • Key companies dominating the Global Next-Generation Sequencing Market.
  • Various opportunities available for the other competitor in the Next-Generation Sequencing Market space.
  • What are the top-performing segments in 2021? How these segments will perform in 2027.
  • Which are the top-performing regions and countries in the current market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for Next-Generation Sequencing market growth in the coming future?

 

COVID19 Impact on the Next-Generation Sequencing Market

The unprecedented COVID-19 pandemic has had a positive effect on the Next-Generation Sequencing market. This is because NGS technology is a cost-effective molecular test for the diagnosis of COVID19, which uses a single-step RNA extraction and presents high scalability and accuracy when compared to the gold-standard RT-qPCR. Furthermore, the rise in emergency use authorizations (EUAs) for Next-Generation Sequencing tests for SARS-CoV-2 has also led to market growth during the pandemic crisis. For instance, on June 10, 2020, Illumina, Inc. received an Emergency Use Authorization (EUA) for the Illumina COVIDSeq™ Test, a high-throughput, next-generation sequencing-based, in vitro diagnostic (IVD) workflow enabling the detection of SARS-CoV-2 by the US FDA. In addition, the inclusion of Next-generation sequencing (NGS) technology as a clinical diagnostic test, particularly with the COVID-19 pandemic by various laboratories has also bolstered the market during the pandemic. For instance, in August 2020, Helix Laboratory obtained the FDA approval for its COVID-19 NGS test, an amplicon-based next-generation sequencing (NGS) test developed for the qualitative detection of nucleic acid from the SARS-CoV-2 in upper respiratory specimens for COVID-19 suspected individuals.

 

Next-Generation Sequencing Market Dynamics

The market for Next-Generation Sequencing is gaining pace at present due to the surge in COVID-19 infected people across the globe. This is because the Covid virus has evolved from the time of its outbreak and PCR testing only determines the presence of the virus. Whereas, NGS technology is used in determining the novel strains of the COVID-19 virus as well as its surveillance. According to the World Health Organization (WHO), 22 December 2021 data, approximately 275,233,892 confirmed cases of COVID-19 were reported across the globe. In addition, the increasing burden of cancer cases worldwide is also anticipated to contribute to the Next-Generation Sequencing market. This is because of the rising significance of NGS technology-based platforms for the detection of cancer biomarkers. According to the data published by the GLOBOCAN directory in the year 2020, approximately 19,292,789 new cases of cancer were detected, globally in the same year.

 

Next-Generation Sequencing Market Segment Analysis

  • Next-Generation Sequencing Market by Product Type (Instruments, Reagents & Consumables And Services), By Sequencing Type (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Sequencing, De-Novo Sequencing, Others)
  • Next-Generation Sequencing Market by Application (Diagnostic, Drug Discovery, Agriculture & Animal Research, Others)
  • Next-Generation Sequencing Market by End-User (Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Academic & Research Institute)
  • Next-Generation Sequencing Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

 

Next-Generation Sequencing Market Companies

Some of the key market players operating in the Next-Generation Sequencing market include Agilent Technologies, Inc., Illumina Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, QIAGEN, Thermo Fisher Scientific, PerkinElmer Inc., MedGenome, BGI, Pacific Biosciences, GENEWIZ, Oxford Nanopore Technologies plc., Psomagen, Inc., 10x Genomics, Takara Bio Inc., Zymo Research Corporation., NuGEN Technologies, Inc. (Tecan Trading AG), Vela Diagnostics, CD Genomics., HTG Molecular Diagnostics, Inc.,  and others.

 

Request Sample Report- https://www.delveinsight.com/sample-request/next-generation-sequencing-market

 

Table of Content

1. Next-Generation Sequencing Market Report Introduction

2. Next-Generation Sequencing Market Executive summary

3. Regulatory and Patent Analysis

4. Next-Generation Sequencing Market Key factors analysis

5. Next-Generation Sequencing Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Next-Generation Sequencing Market

7. Next-Generation Sequencing Market layout

8. Next-Generation Sequencing Global Company Share Analysis – Key 3-5 Companies

9. Next-Generation Sequencing Company and Product Profiles

10. KOL Views

11. Project Approach

12. About DelveInsight

13. Disclaimer & Contact Us

 

About Us

DelveInsight is a Business Consulting and Market research company, providing expert business solutions for the healthcare domain and offering quintessential advisory services in the areas of R&D, Strategy Formulation, Operations, Competitive Intelligence, Competitive Landscaping, and Mergers & Acquisitions.

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