The Next-generation Sequencing Market 2023 Size Forecast to 2030 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
Global Next-Generation Sequencing Market size was valued at US$ 6,335.2 Mn in 2018 and is Projected to Reach US$ 31,411.3 Mn by 2026, Exhibiting a CAGR of 22.2% between 2018 and 2026. The growing demand for fast, cost-effective, and accurate DNA sequencing data interpretation has resulted in the birth and dominance of NGS industry, as it allows the sequencing of massive amount of DNA in a single run, thus facilitating the diagnosis of diseases and research. One of the major contributions of next-generation sequencing is genomics. The initiation of genomics projects in various countries such as the U.K., Qatar, and others is anticipated to favour this market. Also, the emergence of NGS-based diagnostics and active government support for the same are the major factors for the expansion of the market. Next-Generation Sequencing (NGS) Market Size, Share and Industry Analysis By Type (Products, Instruments & Software, Consumables, Services), By Application (Diagnostics, Research), By End User (Research Institutes, Healthcare Facilities & Diagnostic Centres, Pharmaceutical & Biotechnological Companies, Contract Research Organization) & Regional Forecast, 2019 – 2026
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Market Growth Drivers:
The lowered cost of sequencing has resulted in increasing the application of NGS in diagnosis of diseases. Various test kits and testing services are emerging for the non-invasive pre-natal testing, cancer diagnosis, genetic testing, and others, which is driving the global market. Moreover, the active government support through product approval and improved reimbursement coverage for such diagnostic tests is expected to provide new market growth opportunities. In addition, rising prevalence of chronic diseases, increased research, and start of high budget genomics projects is anticipated to further fuel the market growth during the forecast period.
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Who are the Major Next-generation Sequencing Market Vendors?
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- F. Hoffmann-La Roche Ltd
- Agilent Technologies, Inc.
- QIAGEN
- BGI
- PerkinElmer Inc.
- Eurofins Scientific
- Macrogen, Inc.
- PierianDx
- Other prominent players
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period [2022 – 2029].
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