Next Generation Sequencing Market to Reach $33.15 Billion by 2030: Grand View Research, Inc.

Read 300 page market research report, "Next Generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Product, By Application , By Workflow, By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research. Read 300 page market research report, " Next Generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Product, By Application,...

Read 300 page market research report, "Next Generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Product, By Application , By Workflow, By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Next Generation Sequencing Market Growth & Trends

Different potential sequencing methods such as RNA sequencing, whole-genome sequencing, and whole-exome and targeted sequencing amongst others are prominently used by researchers to get comprehensive sample analysis. When compared to the traditional Sanger sequencing technology, NGS is less expensive and provides higher throughput for DNA sequencing. The growing automation in the pre-sequencing protocols, post-sequencing protocols, and data analysis is also projected to have a positive impact on the NGS market. The utilization of novel platforms for the development of personalized medicine by medical analysis at a genetic level is also a significant factor, which is expected to enhance demand for NGS over the forecast period.

Besides, there are other significant growth trends that are being witnessed in the sequencing industry, such as the development of personalized medicine and companion diagnostics, growing advancements in cloud computing, and data integration. Furthermore, the easy availability of genomic and proteomic data has poised this market to exhibit potentially high-value avenues and opportunities for growth over the forecast period. The market growth is also being fueled by an increase in the global prevalence of cancer and the availability of sophisticated healthcare facilities. As per GLOBOCAN 2020, there have been 1,92,92,789 new cancer cases in 2020, with the number expected to rise to 2,88,87,940 by 2040. Such a substantial rise in the number of cancer cases is estimated to leverage cancer research which will eventually accelerate the NGS market growth.

The NGS diagnostic techniques have the potential to determine a virus's genomic sequence and aid scientists in their understanding of mutations. Furthermore, throughout the COVID-19 epidemic, governments across the globe have been collaborating with the corporate sector to introduce NGS technology to the market as a viable diagnostic tool. The US Food and Drug Administration granted Illumina Inc. a case of emergency use permit for the first COVID-19 diagnostic using the next-generation sequence technique in June 2020. The Illumina COVIDSeq Test for qualitative identification of SARS-CoV-2 RNA has been approved by the FDA. As a result, the usage of next-generation sequencing (NGS) technologies is projected to increase during the pandemic.

Next Generation Sequencing Market Report Scope     

Next Generation Sequencing Market Segmentation

Grand View Research has segmented the global next generation sequencing market on the basis of technology, product, application, workflow, end-use, and region:

NGS Technology Outlook (Revenue, USD Million, 2018 - 2030)

NGS Product Outlook (Revenue, USD Million, 2018 - 2030)

NGS Application Outlook (Revenue, USD Million, 2018 - 2030)

NGS Workflow Outlook (Revenue, USD Million, 2018 - 2030)

NGS End-use Outlook (Revenue, USD Million, 2018 - 2030)

NGS Regional Outlook (Revenue, USD Million, 2018 - 2030)

List of Key Players of Next Generation Sequencing Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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