Next-generation Sequencing (NGS) Market is Slated to Witness Tremendous Growth during 2021-2026

BRUSSELS - Oct. 21, 2022 - PRLog -- Next-generation sequencing is a technique is used to determine the sequence of DNA or RNA in order to examine genetic variations linked to diseases or other biological phenomena. The term "NGS" refers to a set of technologies that utilize massively parallel sequencing to produce millions of short read sequences more quickly and with a significantly higher throughput.

The Global Next-generation Sequencing (NGS) Market valued at $6.3 billion (2021) is set to witness a significant growth rate of 16% in the next 5 years. Some of the key factors driving the global next-generation sequencing (NGS) market include the quick advancements in sequencing platforms, increasing applications of NGS, rising demand for NGS services, development of advanced bioinformatics tools, high investments in R&D, and growing incidence of cancer and infectious diseases.

Technological developments in sequencing platforms to fuels the Next-generation Sequencing (NGS) Market Demand
Continuous developments in sequencing technology have enabled to develop efficient, portable, and easy-to-use NGS sequencers to deliver rapid and precise results while also reducing turnaround times. Such advancements tend to provide competitive edge to manufacturers and therefore, major players are constantly focusing on investing in research activities for the creation of new products to strengthen their positions in this high growth market.

Here is a list of a few technological developments:

• In March 2022, Element Biosciences Inc. launched its benchtop sequencer - Element AVITI System, that offers combination of performance, cost, and flexibility in an unprecedented way. This system consists of a benchtop NGS instrument and related consumables
• In December 2021, Singular Genomics Systems, Inc. commercially launched its G4 platform, a powerful benchtop sequencer featuring a new high-performance chemistry with advanced engineering to give precision, flexibility, speed, and power for a wide range of applications, including cancer and immunology research
• In December 2021, Roche launched its AVENIO Edge System, a next-generation platform to assist sequencing laboratories and researchers to reduce human error, further providing fast, precise, and reliable results

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Competitive Landscape Analysis of Next-generation Sequencing (NGS) Market
The global next-generation sequencing (NGS) market is marked by the presence of key players such as Illumina (US), Thermo Fisher Scientific (US), Pacific Biosciences (US), Oxford Nanopore Technologies (UK), Hoffmann-La Roche AG (Switzerland), QIAGEN (Germany), and others.