Next Generation Sequencing (NGS) Market Report Forecast and Insights

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

2. Next Generation Sequencing (NGS) Market 2023-2030 Next Generation Sequencing (NGS) Market Report: Forecast and Insights Published by Meticulous Research® Next Generation Sequencing (NGS) has emerged as a transformative technology in genomic research, enabling significant advancements in areas such as oncology, reproductive health, and infectious disease diagnosis. According to the latest report by Meticulous Research®, the global NGS market is projected to reach an impressive $27.5 billion by 2030, growing at a robust compound annual growth rate (CAGR) of 15.8% from 2023 to 2030. Download Sample Report Here - https://www.meticulousresearch.com/download-sample- report/cp_id=5040?utm_source=article&utm_medium=social&utm_campai gn=product&utm_content=11-10-2024 Market Drivers The substantial growth of the NGS market can be attributed to several key factors: 1.Rising Cancer Prevalence: The increasing incidence of various cancers has escalated the demand for precise diagnostic tools, positioning NGS as a critical technology in oncology research and treatment. 2.Technological Advancements: Innovations in sequencing procedures have enhanced the efficiency and accuracy of NGS, making it more accessible to research and clinical laboratories. 3.Declining Costs of Genome Sequencing: As the costs associated with sequencing continue to decline, the adoption of NGS is becoming economically viable for a broader range of applications. 4.Increased Pharmaceutical R&D Expenditures: With pharmaceutical companies investing more in research and development, the utilization of NGS for drug discovery and development is gaining momentum. Page 1 of 7 © Meticulous Research| sales@meticulousresearch.com

3. Next Generation Sequencing (NGS) Market 2023-2030 5.Surge in Genome Mapping Programs: Global initiatives aimed at mapping the human genome are fostering a conducive environment for NGS growth. 6.Improved Regulatory and Reimbursement Scenarios: Enhanced frameworks for regulatory approval and reimbursement for NGS-based diagnostic tests are encouraging more laboratories to adopt these technologies. Challenges Facing the NGS Market Despite the optimistic growth trajectory, the NGS market faces several challenges that may hinder its expansion: 1.High Costs: The substantial investment required for NGS systems and consumables can deter smaller laboratories and institutions from adopting this technology. 2.Alternative Technologies: The presence of competing sequencing technologies may limit the market share of NGS. 3.Precision Medicine Limitations: The chances of identifying positive, actionable mutations for precision medicine remain relatively low, which can affect the perception and utilization of NGS. 4.Ethical and Legal Issues: Concerns surrounding privacy, data security, and ethical implications of genomic data utilization pose significant challenges. 5.Skilled Workforce Shortage: A lack of trained professionals proficient in NGS technology can inhibit market growth. 6.Regulatory Concerns: The need for standardization and stringent regulatory requirements in diagnostic testing can create barriers to entry. Growth Opportunities The NGS market presents numerous opportunities for growth, driven by: 1.Expanding Applications: The increasing utilization of NGS in various fields, including oncology, reproductive health, and infectious diseases, is broadening its market potential. Page 2 of 7 © Meticulous Research| sales@meticulousresearch.com

4. Next Generation Sequencing (NGS) Market 2023-2030 2.Bioinformatics and Genomic Data Management: The rising adoption of bioinformatics solutions for managing and interpreting genomic data is enhancing the value proposition of NGS technologies. 3.Government Initiatives: Supportive policies and funding for large-scale genomic sequencing projects are paving the way for further advancements in the NGS space. 4.Automation in NGS: The growing demand for automated NGS solutions is driving innovation and enhancing laboratory efficiency. 5.Portable Sequencing Technologies: The development of portable and user-friendly sequencing technologies is making NGS more accessible to various end-users. 6.Partnerships and Collaborations: Increased collaborations among NGS instrument manufacturers and stakeholders to develop advanced product offerings are shaping the future of the market. Market Segmentation Overview The global NGS market is segmented based on offerings, sequencing types, technologies, applications, end-users, and geography. Offerings In 2023, the consumables segment is anticipated to dominate the NGS market. This segment includes: •Sample Preparation Consumables: Encompassing DNA extraction, amplification, library preparation, and target enrichment. •Other Consumables: Various reagents and materials necessary for NGS procedures. The recurring use of consumables, driven by the increasing demand for NGS- based diagnostic tests and their applications in oncology and drug discovery, is propelling market growth in this area. Sequencing Types Targeted genome sequencing is projected to hold the largest share of the NGS market in 2023. Factors contributing to its dominance include: Page 3 of 7 © Meticulous Research| sales@meticulousresearch.com

5. Next Generation Sequencing (NGS) Market 2023-2030 •Cost-Effectiveness: Targeted sequencing methods provide rapid and economical options for researchers. •Application in Complex Samples: It is particularly effective in identifying somatic mutations in heterogeneous samples, such as tumors. •Research Interest: A significant focus on studying gene-drug associations enhances the demand for targeted genome sequencing. Technology The NGS market is categorized by technology, which includes: •Sequencing by Synthesis (SBS): Expected to capture the largest market share due to its high accuracy, yield, and throughput. •Ion Semiconductor Sequencing: Notable for its rapid sequencing capabilities. •Single-Molecule Real-Time Sequencing (SMRT): Offers real-time sequencing for comprehensive genomic analysis. •Nanopore Sequencing: Provides unique advantages in portability and sequencing length. •DNA Nanoball Sequencing: Innovative technology for high-density sequencing. Applications The applications of NGS span various domains, with research and other applications expected to hold the largest market share in 2023. Key drivers include: •Genetic Disorder Prevalence: The increasing incidence of genetic disorders is driving demand for sequencing-based tests. •Personalized Medicine: The growing emphasis on personalized treatment options is boosting NGS applications in clinical settings. •NGS-Based Research Initiatives: Expanding research projects leveraging NGS are contributing to this segment's growth. End-User Segmentation Page 4 of 7 © Meticulous Research| sales@meticulousresearch.com

6. Next Generation Sequencing (NGS) Market 2023-2030 The pharmaceutical and biotechnology companies’ segment is poised to dominate the NGS market in 2023. Key factors include: •Increased R&D Investment: A surge in research and development spending by these companies fosters the adoption of NGS technologies. •Chronic Disease Management: The rising incidence of chronic diseases necessitates advanced diagnostic solutions, further driving NGS use. Geographic Analysis Geographically, North America is expected to hold the largest share of the NGS market in 2023. Factors contributing to this regional dominance include: •R&D Expenditure: High levels of investment in research and development by pharmaceutical and biotechnology companies. •Presence of Market Leaders: The region is home to several leading NGS companies, facilitating competitive advancements. •Government Support: Favorable initiatives for genomics research enhance the region's NGS landscape. •Awareness and Adoption: Increasing awareness of NGS-based tests and rising prevalence of cancer and genetic diseases further boost market growth. The report provides a detailed geographic breakdown, analyzing major regions, including: •North America: Comprising the United States and Canada. •Europe: Including Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe. •Asia-Pacific: Covering Japan, China, India, and the Rest of Asia-Pacific. •Latin America: Including Brazil, Mexico, and the Rest of Latin America. •Middle East & Africa: Evaluating market dynamics within these regions. Key Players in the NGS Market Page 5 of 7 © Meticulous Research| sales@meticulousresearch.com

7. Next Generation Sequencing (NGS) Market 2023-2030 The competitive landscape of the global NGS market features several prominent players, including: •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) These key players are actively engaged in strategic partnerships, technological advancements, and product innovations to strengthen their position in the NGS market. Conclusion The global Next Generation Sequencing market is on a robust growth trajectory, fueled by advancements in technology, rising cancer prevalence, and increased adoption across various applications. Despite facing challenges, the sector is poised for remarkable expansion, creating significant opportunities for stakeholders involved in genomic research and diagnostics. Companies that adapt to the evolving landscape and leverage emerging trends in NGS will be well-positioned to capitalize on the opportunities ahead. Read Full Report - https://www.meticulousresearch.com/product/next- generation-sequencing-market-5040 About Meticulous Research® Page 6 of 7 © Meticulous Research| sales@meticulousresearch.com

8. Next Generation Sequencing (NGS) Market 2023-2030 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. 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 7 of 7 © Meticulous Research| sales@meticulousresearch.com