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Next Generation Sequencing (NGS) Market

According to the latest publication from Meticulous Researchu00ae, the global Next-Generation Sequencing (NGS) market is projected to reach $27.5 billion by 2030, growing at a CAGR of 15.8% from 2023 to 2030. This growth is primarily driven by the increasing prevalence of cancer and its applications in treatment and research, declining genome sequencing costs, advancements in sequencing technology, rising pharmaceutical R&D investments, expanding genome mapping initiatives, and improved regulatory and reimbursement frameworks for NGS-based diagnostics.<br>

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Next Generation Sequencing (NGS) Market

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  1. “Meticulous Research® Projects Hearing Next Generation Sequencing (NGS) Market to Reach $27.5 Billion by 2030” pen_spark” J

  2. Next Generation Sequencing (NGS) Market 2023-2030 Executive Summary The global Next-Generation Sequencing (NGS) market is on a significant growth trajectory, with expectations to reach $27.5 billion by 2030. This robust growth, projected at a compound annual growth rate (CAGR) of 15.8% from 2023 to 2030, is primarily driven by advancements in sequencing technologies, the increasing application of NGS in cancer research and treatment, and a notable decline in genome sequencing costs. Download Sample Report Here @ https://www.meticulousresearch.com/download-sample- report/cp_id=5040 Market Drivers •Cancer Prevalence and Research: The rising incidence of cancer and the growing use of NGS in oncology are key factors fueling market expansion. NGS technologies are pivotal in cancer research and personalized treatment plans. •Technological Advancements: Continuous improvements in sequencing technologies and methodologies are enhancing the efficiency and accuracy of NGS. •Declining Costs: Reductions in the costs associated with genome sequencing are making NGS more accessible and appealing. •Increased R&D Expenditures: Growing investments in pharmaceutical research and development are further propelling the demand for NGS solutions. •Genome Mapping Programs: The surge in genome mapping initiatives is contributing to the market's growth. Challenges Despite its positive outlook, the NGS market faces several challenges: •High Costs: The substantial expenses related to NGS systems and consumables. •Alternative Technologies: The presence of competing technologies that offer similar benefits. •Mutation Identification: Challenges in identifying actionable mutations for precision medicine. Page 1 of 4 © Meticulous Research| sales@meticulousresearch.com

  3. Next Generation Sequencing (NGS) Market 2023-2030 •Ethical and Legal Concerns: Issues surrounding the ethical and legal implications of NGS-based diagnostics. Opportunities The market offers several growth opportunities: •NGS Automation: Rising demand for automated NGS solutions. •Portable Technologies: Development of portable sequencing technologies. •Collaborations: Increased partnerships among NGS manufacturers to enhance and diversify product offerings. Market Segmentation •By Offering: In 2023, the consumables segment is expected to hold the largest share, driven by recurring usage and demand for NGS-based diagnostic tests. The NGS systems segment is anticipated to experience the highest growth rate due to technological advancements. •By Sequencing Type: Targeted genome sequencing is projected to dominate the market due to its cost-effectiveness and ability to identify somatic mutations in complex samples, such as cancerous tumors. •By Technology: Sequencing by synthesis is expected to capture the largest share, known for its high accuracy and error-free throughput. •By Application: The research and other applications segment is set to lead, driven by the increasing prevalence of genetic disorders and growing demand for personalized medicine. •By End User: Pharmaceutical and biotechnology companies are anticipated to have the largest share due to increased R&D spending and rising chronic disease incidences. Geographic Insights •North America: Expected to lead the global market in 2023, driven by significant R&D expenditure, the presence of major NGS players, supportive government initiatives, and a favorable reimbursement landscape. •Asia-Pacific: Projected to exhibit the highest growth rate, supported by rapid population growth, urbanization, and increased investment in genomic research. Key Players Page 2 of 4 © Meticulous Research| sales@meticulousresearch.com

  4. Next Generation Sequencing (NGS) Market 2023-2030 Prominent companies in the global NGS market include: •Illumina, Inc. (U.S.) •Thermo Fisher Scientific Inc. (U.S.) •F. Hoffmann-La Roche Ltd. (Switzerland) •PerkinElmer, Inc. (U.S.) •Qiagen N.V. (Netherlands) •Agilent Technologies, Inc. (U.S.) •Pacific Biosciences of California, Inc. (U.S.) •Danaher Corporation (U.S.) •Bio-Rad Laboratories, Inc. (U.S.) •Oxford Nanopore Technologies Plc. (U.K.) •10X Genomics, Inc. (U.S.) •Beijing Genomics Institute (BGI) (China) Conclusion The global Next-Generation Sequencing (NGS) market is poised for substantial growth, driven by technological innovations, increasing applications across various sectors, and supportive government initiatives. While challenges exist, the opportunities for advancement and expansion in the NGS field remain promising. Read Full Report :- https://www.meticulousresearch.com/product/next-generation- sequencing-market-5040 About Meticulous Research® Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value- driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Page 3 of 4 © Meticulous Research| sales@meticulousresearch.com

  5. Next Generation Sequencing (NGS) Market 2023-2030 Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous- research Page 4 of 4 © Meticulous Research| sales@meticulousresearch.com

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