The industry recorded a valuation of US$ 1.2 billion in 2022 and is forecasted to grow at a CAGR of 8.3% from 2023 to 2031, reaching over US$ 2.4 billion by 2031.

The global next-generation sequencers (NGS) market is being propelled by advancements in sequencing technologies. NGS technologies have become pivotal in unraveling the complexities of genomics, offering rapid and cost-effective sequencing of DNA and RNA. The growing demand for personalized medicine and precision diagnostics is driving the expansion of the market. Additionally, increased funding and awareness surrounding advanced genomic technologies are expected to further bolster the size of the global next-generation sequencers (NGS) industry during the forecast period.

Get Sample PDF: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=574&utm_source=organic&utm_campaign=MansiR_organic
 
Market Overview:
 
Next Generation Sequencers (NGS) represent a paradigm shift in DNA sequencing technology, departing from traditional methods. These platforms utilize highly parallelized approaches, enabling the simultaneous sequencing of millions of DNA fragments. This boosts throughput significantly, facilitating rapid and cost-effective genetic analysis.

NGS platforms employ diverse sequencing methodologies like sequencing-by-synthesis, ion semiconductor sequencing, and single-molecule real-time sequencing. Their high-throughput nature has revolutionized genomics research, enabling comprehensive analyses of entire genomes, exomes, or specific target regions.

This versatility extends across various domains, including basic research, clinical diagnostics, personalized medicine, and agricultural genomics.

Continual evolution of NGS platforms enhances factors like accuracy, read length, and cost-effectiveness, cementing their role as vital tools for understanding genetic information and advancing genomics research.

NGS has emerged as a dynamic sector within the biotechnology industry, witnessing substantial growth due to widespread adoption across research, clinical, and industrial applications. Researchers and healthcare professionals utilize NGS's high-throughput capabilities for genomics research, personalized medicine, clinical diagnostics, and agricultural genomics.

Market Drivers and Challenges: Drivers:

  1. Advancements in NGS Technologies
  2. Declining Sequencing Costs
  3. Growing Demand for Precision Medicine
  4. Increasing Applications in Clinical Diagnostics
  5. Supportive Regulatory Landscape

Challenges:

  1. Data Management and Analysis Complexity
  2. Concerns Regarding Data Privacy and Security
  3. Limited Reimbursement Policies
  4. Infrastructure and Skill Gap in Emerging Markets

Leading Players:

Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences, Complete Genomics Incorporated, Vela Diagnostics, Oxford Nanopore Technologies plc, Singular Genomics Systems, Inc., HTG Molecular Diagnostics, Inc., and Revvity

Segmentation:

  • Product
    • Benchtop Sequencers
    • Floor Standing Sequencers
  • Technology
    • WGS
    • Whole Exome Sequencing
    • Targeted Sequencing & Resequencing
  • Application
    • Oncology
    • Infectious Diseases
    • Reproductive Health
    • Metagenomics, Epidemiology, and Drug Development
    • Consumer Genomics
  • End-user
    • Academic Research
    • Clinical Research
    • Hospitals & Clinics
    • Pharma & Biotech Entities
    • Others

Market Trends:

  1. Adoption of Single-Cell Sequencing Technologies
  2. Integration of Artificial Intelligence and Machine Learning in Data Analysis
  3. Shift towards Whole Genome Sequencing for Comprehensive Analysis
  4. Rise of Point-of-Care NGS Devices
  5. Expansion of NGS into Non-Invasive Prenatal Testing (NIPT) and Liquid Biopsy
Key Developments:
  • In October 2023, Revvity, Inc. and Element Biosciences, Inc., a developer of the AVITI System, an innovative and emerging genomic sequencing platform, announced a collaboration to introduce workflow solutions that save time and effort required for genomic analysis of samples. This collaboration helps to elevate the overall customer experience by providing compelling application-specific data, stronger support and easier access to the critical components necessary for a lab to go from sample to result.
  • In April 2022, Thermo Fisher Scientific launched the CE-IVD marked Ion Torrent Genexus Dx Integrated Sequencer, an automated, next-generation sequencing (NGS) platform that delivers results in one day. The platform is designed for clinical laboratories and enables users to perform diagnostic testing and clinical research on a single instrument.

Get This Exclusive Report, Instantly: https://www.transparencymarketresearch.com/checkout.php?rep_id=574&ltype=S&utm_source=organic&utm_campaign=MansiR_organic

Regional Outlook:

North America's dominance in the global Next Generation Sequencers (NGS) market stems from its robust research and development infrastructure, bolstered by leading biotechnology and pharmaceutical companies driving innovation in genomics. Government support, including federal funding and grants, further propels advancements in genomic medicine, fostering widespread adoption of NGS technologies in clinical settings. Collaborations between industry and academia accelerate NGS development and application, ensuring compliance with regulatory standards and facilitating commercialization.

Meanwhile, Asia Pacific emerges as the fastest-growing region in the NGS market, driven by increasing demand for personalized medicine and genomic research. Government initiatives and investments in biotechnology research create a conducive environment for market expansion. The region's diverse population provides a rich source of genomic data, fostering collaborative efforts between academia, research organizations, and industry players. Growing healthcare infrastructure and technology adoption further fuel the demand for NGS solutions, positioning Asia Pacific at the forefront of NGS market growth.

Key Market Study Points:

  1. Revenue Forecast and Growth Analysis
  2. Competitive Landscape Assessment
  3. Regulatory Environment Evaluation
  4. Technological Advancements and Innovations
  5. Consumer Behavior Analysis and Market Trends

Browse More Reports by TMR:

Endoscope Washer Disinfector Market to Rise at CAGR of 6.9% during Forecast Period

In-flight Catering Services Market to Reach Value of US$ 27 Bn by 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website:  https://www.transparencymarketresearch.com   
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube