Next Generation Sequencing (NGS) Market Trends, Insights and Future Outlook 2024–2031

The Next Generation Sequencing (NGS) Market sector is undergoing rapid transformation, with significant growth and innovations expected by 2030. In-depth market research offers a thorough analysis of market size, share, and emerging trends, providing essential insights into its expansion potential. The report explores market segmentation and definitions, emphasizing key components and growth drivers. Through the use of SWOT and PESTEL analyses, it evaluates the sector’s strengths, weaknesses, opportunities, and threats, while considering political, economic, social, technological, environmental, and legal influences. Expert evaluations of competitor strategies and recent developments shed light on geographical trends and forecast the market’s future direction, creating a solid framework for strategic planning and investment decisions.

Brief Overview of the Next Generation Sequencing (NGS) Market:

The global Next Generation Sequencing (NGS) Market is expected to experience substantial growth between 2024 and 2031. Starting from a steady growth rate in 2023, the market is anticipated to accelerate due to increasing strategic initiatives by key market players throughout the forecast period.

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 Which are the top companies operating in the Next Generation Sequencing (NGS) Market?

The report profiles noticeable organizations working in the water purifier showcase and the triumphant methodologies received by them. It likewise reveals insights about the share held by each organization and their contribution to the market's extension. This Global Next Generation Sequencing (NGS) Market report provides the information of the Top Companies in Next Generation Sequencing (NGS) Market in the market their business strategy, financial situation etc.

Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Merck KGaA, Charles River Laboratories, Revvity, Promega Corporation., Agilent Technologies, Inc., Takara Bio Inc., Eurofins Scientific, Hamilton Company, BGI, Azenta US, Inc., Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., PacBio., Macrogen, Inc., Gilson Incorporated, New England Biolabs, Oxford Nanopore Technologies plc., LGC Biosearch Technologies, PCR Biosystems, ACT Genomics, Quantabio, DNASTAR, and NimaGen. among others

Report Scope and Market Segmentation

Which are the driving factors of the Next Generation Sequencing (NGS) Market?

The driving factors of the Next Generation Sequencing (NGS) Market are multifaceted and crucial for its growth and development. Technological advancements play a significant role by enhancing product efficiency, reducing costs, and introducing innovative features that cater to evolving consumer demands. Rising consumer interest and demand for keyword-related products and services further fuel market expansion. Favorable economic conditions, including increased disposable incomes, enable higher consumer spending, which benefits the market. Supportive regulatory environments, with policies that provide incentives and subsidies, also encourage growth, while globalization opens new opportunities by expanding market reach and international trade.

Next Generation Sequencing (NGS) Market - Competitive and Segmentation Analysis:

**Segments**

- On the basis of product and service, the global next generation sequencing (NGS) market can be segmented into instruments, consumables, services, and workflow products.
- Based on technology, the market can be categorized into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and other sequencing technologies.
- When considering application, the market can be divided into diagnostics, drug discovery, biomarker discovery, personalized medicine, agriculture and animal research, and other applications.
- By end user, the NGS market can be segmented into academic and research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and other end users.

**Market Players**

- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Oxford Nanopore Technologies
- Pacific Biosciences of California, Inc.
- BGI Group
- PerkinElmer Inc.
- Agilent Technologies, Inc.
- QIAGEN
- Roche Holdings AG
- PierianDx

The global next generation sequencing (NGS) market is witnessing significant growth and is projected to continue its upward trajectory through 2030. Advances in sequencing technologies, coupled with the decreasing costs of sequencing, are driving the market growth. In addition, the growing applications of NGS in various sectors such as diagnostics, drug discovery, and agriculture, among others, are boosting market expansion. The continuous innovation in NGS platforms and the increasing research and development investments in genomics are further propelling market growth.

In terms of segments, the instruments and consumables segment is anticipated to hold a substantial market share due to the rising demand for sequencing instruments and consumables in research and clinical applications. Moreover, the diagnostics application segment is expected to witness significant growth during the forecast period owing to the increasing adoption of NGS in precision medicine and genetic testing applications.

Key market players in the global NGS market are actively involved in strategic initiatives such as partnerships, collaborations, and productThe global next generation sequencing (NGS) market is a dynamic and rapidly evolving sector with a promising future ahead. Illumina, Inc., being one of the key market players, holds a dominant position in the NGS market. Its cutting-edge sequencing platforms, like NovaSeq and HiSeq, have been instrumental in shaping the landscape of genomic research and clinical diagnostics. The company's strategic acquisitions, such as the purchase of Pacific Biosciences, have strengthened its market presence and accelerated technological advancements in long-read sequencing.

Thermo Fisher Scientific Inc. is another major player that offers a comprehensive portfolio of NGS solutions, including instruments, consumables, and bioinformatics tools. Its Ion Torrent sequencing technology has gained popularity for its rapid and cost-effective sequencing capabilities. Thermo Fisher's recent collaboration with the Department of Veterans Affairs to expand NGS testing in healthcare settings highlights its commitment to advancing precision medicine and personalized healthcare initiatives.

Oxford Nanopore Technologies has disrupted the NGS market with its innovative nanopore sequencing technology. The MinION and PromethION platforms have revolutionized DNA sequencing by enabling real-time analysis of long DNA fragments. The company's focus on miniaturization and portability has opened new opportunities for field-based applications in areas such as infectious disease surveillance and environmental monitoring.

Pacific Biosciences of California, Inc. is known for its Single-Molecule Real-Time (SMRT) sequencing technology, which offers long-read capabilities for genome assembly and structural variant detection. Its recent acquisition by Illumina has sparked excitement in the genomics community, as the integration of PacBio's long-read sequencing expertise with Illumina's short-read technology promises to deliver comprehensive genomic solutions for complex research challenges.

As a prominent player in the NGS market, BGI Group has established itself as a global genomics powerhouse, providing end-to-end sequencing services and innovative research collaborations. The company's focus on large-scale genome projects and data-driven insights has positioned it as a key contributor to advancements in precision medicine, agriculture,**Market Players**
Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Merck KGaA, Charles River Laboratories, Revvity, Promega Corporation., Agilent Technologies, Inc., Takara Bio Inc., Eurofins Scientific, Hamilton Company, BGI, Azenta US, Inc., Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., PacBio., Macrogen, Inc., Gilson Incorporated, New England Biolabs, Oxford Nanopore Technologies plc., LGC Biosearch Technologies, PCR Biosystems, ACT Genomics, Quantabio, DNASTAR, and NimaGen.

The global next-generation sequencing (NGS) market is experiencing remarkable expansion driven by technological advancements, decreasing costs of sequencing, and the growing applications across various sectors such as diagnostics, drug discovery, and agriculture. The NGS market is segmented into instruments, consumables, services, and workflow products based on product and service, aiming to cater to the diverse needs of academic and research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and other end users. With the diagnostics application segment expected to witness significant growth due to the rise in precision medicine and genetic testing applications, market players are actively engaging in strategic collaborations and product innovations to maintain a competitive edge.

**Illumina, Inc.** is a dominant player in the NGS market with cutting-edge sequencing platforms that have revolutionized genomic research and clinical diagnostics. Its strategic acquisitions and product

North America, particularly the United States, will continue to exert significant influence that cannot be overlooked. Any shifts in the United States could impact the development trajectory of the Next Generation Sequencing (NGS) Market. The North American market is poised for substantial growth over the forecast period. The region benefits from widespread adoption of advanced technologies and the presence of major industry players, creating abundant growth opportunities.

Similarly, Europe plays a crucial role in the global Next Generation Sequencing (NGS) Market, expected to exhibit impressive growth in CAGR from 2024 to 2030.

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Key Benefits for Industry Participants and Stakeholders: –

• Industry drivers, trends, restraints, and opportunities are covered in the study.
• Neutral perspective on the Next Generation Sequencing (NGS) Market scenario
• Recent industry growth and new developments
• Competitive landscape and strategies of key companies
• The Historical, current, and estimated Next Generation Sequencing (NGS) Market size in terms of value and size
• In-depth, comprehensive analysis and forecasting of the Next Generation Sequencing (NGS) Market

 Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters

The countries covered in the Next Generation Sequencing (NGS) Market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA

 Detailed TOC of Next Generation Sequencing (NGS) Market Insights and Forecast to 2030

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Next Generation Sequencing (NGS) Market Landscape

Part 05: Pipeline Analysis

Part 06: Next Generation Sequencing (NGS) Market Sizing

Part 07: Five Forces Analysis

Part 08: Next Generation Sequencing (NGS) Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Next Generation Sequencing (NGS) Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

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