According to a new report published by Allied Market Research, titled, โNext Generation Sequencing Market by Product Type, Application, Technology, End user, and: Opportunity Analysis and Industry Forecast, 2020-2030,โ The global next generation sequencing market size was valued at $6,598.62 million in 2020, and is projected to reach $35,503.66 million by 2030, registering a CAGR of 18.2% from 2021 to 2030.
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Key Findings of the Study –
- North America occupied dominant position in global next generation sequencing market in 2020.
- Asia-Pacific is estimated to grow at the highest CAGR 19.0% during the forecast period.
- By application, Biomarker and cancer segment was the highest contributor to the next generation sequencing market, in 2020, and is projected to grow at a CAGR of 17.5% from 2021 to 2030.
- By product type, consumable segment was the highest contributor to the market, in 2020, and is estimated to grow at a CAGR of 17.7% during the forecast period.
- By technology, the sequencing by synthesis segment was the highest contributor to the market in 2020.
Next-generation sequencing (NGS, NextGenSeq) is used to sequence genes at high speed and low cost. It is also known as second generation system (SGS) or mass parallel system (MPS). The technology is used to determine the sequence of nucleotides in the entire genome or targeted regions of DNA or RNA This technology is used for the identification of biomarkers for early diagnosis and personalized treatment, which has a significant impact on change from culture. medical model of diagnosis to a brief medical model.
By product type, the food segment has the largest share in 2020 and is expected to maintain its dominance during the forecast period. This large share is attributed to the fact that they are often used during the sample preparation process and other processes prior to NGS. The service sector is expected to grow at the highest CAGR of 19.3% during the forecast period. Due to technological advancements in sequencing, increase in next-generation sequencing applications, and rise in genome sequencing programs, this will drive the global next-generation sequencing market.
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North America achieved the largest share in 2020 and is expected to maintain its dominance from 2020 to 2030, due to high R&D expenditure, presence of major players and availability of their products, and infrastructure good health in the area. However, Asia-Pacific is expected to register the highest CAGR during the forecast period as governments in Asian countries invest in healthcare infrastructure development.
Key Market Players –
Major key players that operate in the industry are Agilent Technologies, Inc., BGI Group, F. Hoffmann-La Roche AG, Illumina Inc, Precigen Inc., (Intrexon Bioinformatics Germany GmbH), Pacific Biosciences of California, Inc., PerkinElmer, Inc., PierianDx Inc., Qiagen N.V., and Thermo Fisher Scientific Inc.
By Region –
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various research data tables and confirms utmost accuracy in our market forecasting. Each and every us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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