Next Generation Sequencing Market Size, Share, Growth, Outlook & Forecast to 2030

NEW CITY, N.Y. - Jan. 23, 2024 - PRLog -- The latest market report published by Credence Research, Inc. The Next Generation Sequencing (NGS) market currently holds a significant valuation of USD 5,809.8 million (2022). It is anticipated that by 2030, the market will surge to an astounding USD 21,485.69 million, reflecting an impressive CAGR of 20.54% from 2023 through 2030.

Next Generation Sequencing (NGS), also known as high-throughput sequencing, has revolutionized the field of genomics, opening up new possibilities for understanding the genetic basis of life, diseases, and biodiversity. As we look ahead, the Next Generation Sequencing market is poised for exponential growth, driven by technological advancements, rising demand for personalized medicine, and expanding applications in various industries.

NGS technology represents a significant leap forward from traditional Sanger sequencing, offering unparalleled speed, cost-efficiency, and scalability. This has made it an indispensable tool in various domains, including healthcare, agriculture, biotechnology, and environmental science.

One of the primary drivers of the Next Generation Sequencing market is the growing interest in personalized medicine. With NGS, clinicians can analyze a patient's entire genome, identifying genetic mutations and variations that may contribute to diseases or conditions. This information enables tailored treatment plans, enhancing the efficacy of therapies while minimizing side effects. The adoption of NGS in oncology, pharmacogenomics, and rare disease diagnostics is expanding rapidly, propelling the market forward.

Moreover, NGS is playing a pivotal role in advancing scientific research. It has led to breakthroughs in fields such as cancer genomics, neurology, and infectious diseases. Researchers can now study complex genetic interactions and unlock the secrets of various organisms, contributing to the development of novel drugs, therapies, and diagnostic tools.

Browse the Full Report: https://www.credenceresearch.com/report/next-generation-sequencing-market

List of Companies Covered:

• 10X Genomics
• BGI
• Agilent Technologies, Inc.
• Bio-Rad Laboratories
• GenapSys Inc.
• F. Hoffmann-La Roche
• Illumina, Inc.
• Oxford Nanopore Technologies
• NanoString Technologies, Inc.
• Pacific Biosciences of California, Inc.
• Qiagen
• PerkinElmer Inc.
• Thermo Fisher Scientific.

By Segmentation

By Technology

• Sequencing by Synthesis
• Sequencing by Ligation
• Ion Semiconductor Sequencing
• Nanopore Sequencing
• Others

By Applications

• Bioinformatics
• Diagnostics
• Agriculture and Animal Research
• Drug Discovery
• Genetic Research
• Others
• Clinical Bacteriology
• Oncology,
• others

By End User

• Research Institutes
• Pharmaceuticals
• Biotechnology Companies
• Hospitals
• Academic Institutes

By Diagnostics

• Cancer
• Neonatal Screening
• Infectious Disease
• Reproductive Health
• Genetic Testing

By Region

• North America
• Europe
• Asia Pacific
• Rest of World