Next Generation Sequencing Market Worth US$30,424.3 Million by 2031: Visiongain Reports Ltd
Visiongain has published a new report entitled the Next Generation Sequencing Market 2021-2031. It includes profiles of Next Generation Sequencing Market By Technology (SBS, Ion Semiconductor Sequencing, Single Real Time Sequencing, Nanopore Sequencing & Other Sequencing Technology), By Products & Services (Instruments, Reagents & Consumables and Services), By Sequencing Tools (Illumina, Thermo Fischer, Oxford Nanopore, Pacific Biosciences and other platforms), By Reagents & Consumables, By Services (Sequencing Services & Bioinformatics), By Sequencing Services ( Whole Genome Sequencing, Targeted Re-Sequencing, Exome Sequencing, RNA Sequencing, ChIP sequencing, De Novo Sequencing, Methyl Sequencing and Others) By Applied Research ( Drug Discovery, Diagnostics, Personalized Medicine, Genetic Screening, Infectious Diseases, Agriculture & Animal Research & Others) By End Users (Biotech firms, Pharmaceutical companies, Hospital & Diagnostics centers and Others), By Leading National Market Analysis Plus Analysis of Leading NGS Market Players and COVID Recovery Scenarios.
Visiongain’s lead analyst says: ‘The Global Next Generation Sequencing Market was valued to be at US$ 9,368.3 million in 2021 and is expected to reach US$ 30,424.3 million by 2031 at a CAGR of 12.5% from 2021 – 2031. Rising preference for personalised medicine in developed as well as developing economies coupled with increasing investment by biotechnological and pharmaceutical companies for drug discovery is expected to increase NGS market concentration over the forecast period’.
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How has COVID-19 had a positive impact on the Next Generation Sequencing Market?
The primary application of NGS for infectious diseases has been useful to detect the virus without prior knowledge of the infectious agent. NGS workflows were deployed in various research labs and pathological laboratories to detect the SARS-CoV-2 virus. The NGS platforms and workflows are being used for surveillance, detection, tracking multiple variants and epidemiological studies. Various sequencing service providers introduced new RNA sequencing kits to support various studies that are being conducted with coronavirus-related which includes library preparation for whole genome sequencing, shot gun sequencing and targeted sequencing. For instance, Perkin Elmer introduced NEXTFLEX Rapid XP DNA-Seq kit which has been suitable for sequencing human DNA to analyse the clinical outcome in COVID-19. In March 2021, ThermoFischer introduced Ion AmpliSeq SARS-CoV-2 Research Panel to support COVID-19 epidemiological studies. Overall, COVID-19 triggered the demand for sequencing platforms and panels for research purposes consequently boosting the market growth.
How this Report Will Benefit you?
Our report captures in-depth analysis of NGS market within total 672 pages with 445 tables and 457 figures. The study helps all the stakeholders to discover and understand this lucrative NGS market with respect to financial results, trends, opportunities and identify business opportunities. This new study assists you in evaluating the overall market along with niche market segmentation analysis. Get financial analysis of sequencing market and its segments including market by technology, end users, applications, products & services. Huge opportunities are present in this fast-growing NGS market. See how to use the existing and upcoming opportunities in this market to gain a competitive edge in the near future. Moreover, the report will help you to improve your strategic decision making, allowing you to frame growth strategies, reinforce the analysis of other market players and finally maximize productivity for your company.
What are market drivers?
Growing incidence of cancer cases worldwide and the need to sequence the whole genome to understand the genetic vulnerability is driving the growth of NGS sequencing market. Moreover, precision medicine and predictive modelling are expected to drive the future diagnostics especially in cancer research. With growing demand for sequencing services, the sequencing platform manufacturers are introducing technologically advanced platforms which can provide highly accurate data with real time sequencing with reduced turnaround time.
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Where are the market opportunities?
Application of precision medicine and biomarker discovery to treat cancer patients with a typical trait which needs to be studied through comprehensive genome profiling and drug development. NGS technology has become inevitable. In 2019, ThermoFischer launched Oncomine Precision Assay which runs on Ion Torrent Genexus System which is a completely automated NGS platform which delivers comprehensive genomic profiling information within 24 hours. In addition, evolving IT infrastructure along integration of NGS platforms with cloud based technology to generate, analyse genome data has opened a new avenue for cloud based companies providing data management solutions to genome sequencing firms.
The major players in NGS platforms market include Illumina (US), ThermoFischer (US), Pacific Biosciences (US), Oxford Nanopore (UK) and BGI Genomics. The other companies such as Perkin Elmer, Qiagen, Genewiz, BGI are sequencing service providers. Companies are stay abreast in this highly competitive market through M&A and collaborations. For Instance, in September 2020, Illumina announced the acquisition of GRAIL to further fortify its market presence in Oncology sector. In January 2021, Illumina announced its oncology partnership with Bristol Myers Squibb, Kura oncology, Myriad Genetics and Merck. This partnership aims to provide comprehensive genomic profiling through use of its TruSight oncology pre cancer assay which as has been designed 523 known and other emerging tumor biomarkers. The TruSight is currently in review with regulatory authorities.
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