Global Next Generation Sequencing Market to Grow at a (CAGR) of 15.2% during the Forecast Period 2022-2030

Sep-2022 | Biotechnology

As specified in our exclusive report, the Global Next Generation Sequencing Market is projected to reach USD 23.18 billion by 2030.

What is Next Generation Sequencing?

Next-generation sequencing also known as massively parallel or just deep sequencing Next-generation sequencing has completely revolutionized genome analysis with next-generation sequencing, it makes possible the whole human genome sequencing in just one day.

Next-generation sequencing systems have been introduced in the past decade that allows massively parallel sequencing reactions. These systems are capable of analyzing millions or even billions of sequencing reactions simultaneously. Although different machines have been developed with different technical details, they all share some common features.

The differences between the various next-generation sequencing platforms mainly lie in the technical description of the sequencing reaction and can be classified into 4 groups: sequencing by synthesis, pyrosequencing, ion semiconductor sequencing, and sequencing by ligation.

What are the Impacting Factors?

Next-generation sequencing to support clinical diagnosis in rare diseases for neonatal intensive care units. Such developments are expected to drive the growth of the market in the forecasted period. Moreover, efficiency in replacing traditional techniques (such as microarray) and increasing drug discovery applications demanding NGS technology are expected to further boost market growth. Moreover, various market players are playing a vital role in drug development through this technology.

North America holds a large share of the market, due to increasing research and development activities in North America. In this region, the US market is expected to grow rapidly as key players expand their operations in this region.

Development of Next Generation Sequencing Market:

On June 6, 2022, PerkinElmer, Inc., a global corporation focused in the business areas of life sciences research, diagnostics, food, environmental and industrial testing. Announced the launch of an automated, research use only (RUO) BioQule NGS system. Benchtop solution for the preparation of eight samples for the (NGS) library.

Some of the key players in the Next generation sequencing market 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

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