Next-generation Sequencing Market Forecast, Latest Innovations, Business Opportunities and Competitive Lands

The next-generation sequencing market (NGS) refers to a group of interconnected technologies that allow for massively parallel or deep sequencing coverage of a chosen area or the whole genome of an organism.

Next-generation Sequencing Market overview:

In a recent research report by Reports Insight Consulting Pvt. Ltd, the Next-generation Sequencing Market is expected to surpass USD 11.37 Billion by the year 2028, from USD 5.24 Billion in 2021.

The next-generation sequencing market (NGS) refers to a group of interconnected technologies that allow for massively parallel or deep sequencing coverage of a chosen area or the whole genome of an organism. Sequencing technologies are fundamental to the field of genomics-based research and have been around for many years. However, as NGS or massively parallel DNA and RNA sequencing technology continue to progress, researchers now have access to more affordable, quickly improving genome-wide sequencing coverage and data processing tools. NGS has uses that go beyond whole-genome analysis because it has substantial effects on recent developments in basic genomics and disease research.

The workflow segment is divided into Pre-sequencing, sequencing, NGS Data Analysis, and NGS Tertiary Data Analysis Since NGS sequencing is the most crucial step in the workflow, it holds the largest market share. These systems can deliver a precise liquid amount, which is crucial for NGS. Additionally, the device performs tasks like replacing tubes and microtiter plates, which speeds up workflow.

The market in the Asia Pacific is anticipated to expand quickly over the forecast period as a result of significant technological advancements made by China and Japan in the area of NGS methodologies. Additionally, the development of healthcare, R&D and clinical development frameworks in emerging economies like India and Australia has positioned the region's NGS market to benefit from lucrative growth opportunities.

The market is projected to grow at a significant pace reaching a CAGR of approximately 11.7 %, over the forecast period of 2022–2028, despite a considerable fall in Service Operator sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.

The study is consolidated into major segments and further into sub-segments, such as by Technology (WGS, Whole Exome Sequencing, Targeted Sequencing & Resequencing), By Application (Oncology, Clinical Investigation, Reproductive Health, HLA Typing/Immune System Monitoring, Metagenomics, Epidemiology & Drug Development, Agrigenomics & Forensics, Consumer Genomics), By Workflow (Pre-sequencing, NGS Data Analysis), By End-use (Academic Research, Clinical Research, Hospitals & Clinics, Pharma & Biotech Entities, Other Users),  to forecast the Next-generation sequencing market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.       

Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Illumina, QIAGEN, Thermo Fisher Scientific, Inc., F. Hoffman-La Roche Ltd., Oxford Nanopore Technologies, Genomatix GmbH, PierianDx, DNASTAR, Inc., Eurofins GATC Biotech GmbH, Perkin Elmer, Inc., BGI; Bio-Rad Laboratories, Inc.

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