Next Generation Sequencing (NGS) Product Market Scope
The drivers boosting market growth are decreasing genome sequencing prices, expanding genome mapping initiatives, and rising healthcare costs. The massively parallel sequencing technology known as "next-generation sequencing" (NGS) provides extremely high throughput, scalability, and speed. Using this approach, the nucleotide sequence of entire genomes or specific DNA or RNA portions can be ascertained. The biological sciences have undergone a revolution owing to NGS, which enables laboratories to carry out a wide range of tasks and examine biological systems at a depth never before imaginable.
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|Key Companies Profiled||Thermo Fisher Scientific Inc (United States), Becton, Dickinson, and Company (United States), Nanopore Technologies (United Kingdom), Oxford Nanopore Technologies plc (United Kingdom), MACROGEN CO., LTD. (South Korea), DNASTAR (United States), Zymo Research (United States), Geneious (New Zealand), Partek Incorporated (United States), Agilent Technologies, Inc (United States), QIAGEN (Germany), Illumina, Inc. (United States), bioMérieux (France), Pacific Biosciences of California, Inc. (United States) and GENEWIZ (United States)|
The market for the Next Generation Sequencing (NGS) Product is highly competitive and dominated by few key player. The market has a vendor landscape that is extremely competitive. A number of businesses are also taking part in significant mergers and acquisitions as part of crucial plans to increase their market share globally. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Next Generation Sequencing (NGS) Product market throughout the predicted period.
Thermo Fisher Scientific Inc (United States), Becton, Dickinson, and Company (United States), Nanopore Technologies (United Kingdom), Oxford Nanopore Technologies plc (United Kingdom), MACROGEN CO., LTD. (South Korea), DNASTAR (United States), Zymo Research (United States), Geneious (New Zealand), Partek Incorporated (United States), Agilent Technologies, Inc (United States), QIAGEN (Germany), Illumina, Inc. (United States), bioMérieux (France), Pacific Biosciences of California, Inc. (United States) and GENEWIZ (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are 10x Genomics (United States), Bio-Rad Laboratories, Inc. (United States), F. Hoffman La Roche (Switzerland), PerkinElmer Inc. (United States), Takara Bio Inc. (Japan) and Lucigen (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Next Generation Sequencing (NGS) Product market by Type , by Application (Oncology, Reproductive Health Diagnostic, In-Vitro fertilization, Cardiovascular, Drug Discovery, Agriculture & Animal Research and Others) and Region with country level break-up.
On the basis of geography, the market of Next Generation Sequencing (NGS) Product has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesOn April 2021, Resolution Bioscience, a pioneer in the creation and marketing of precision oncology solutions based on next-generation sequencing (NGS), has been acquired by Agilent Technologies, Inc. Agilent's NGS-based cancer detection capabilities are complemented and expanded by Resolution Bioscience, which also offers the business cutting-edge technology to better meet the demands of the rapidly expanding precision medicine market. and On August 2021, The healthcare company GRAIL, which specialises in the life-saving early diagnosis of certain malignancies, has been bought by Illumina, Inc. Illumina will continue to operate GRAIL as a distinct business throughout the ongoing regulatory examination by the European Commission. To expedite patient access to a life-saving multi-cancer early-detection test, Illumina acquires GRAIL
On March 2022, for customers using the Illumina NextSeqTM 1000 and NextSeqTM 2000 sequencing systems and the GeoMx® Digital Spatial Profiler, NanoString Technologies, Inc., a leading provider of life science tools for discovery and translational research, announced a seamless, cloud-based workflow that enhances the spatial data analysis experience. This integrated, push-button run planning tool now makes it easier to do geographic analyses of whole transcriptomes and proteome analytes.
Influencing Trend:The primary trend fuelling the market's expansion is an increase in the use of next-generation sequencing (NGS)
Market Growth Drivers:Decreasing genome sequencing prices drives the market growth and Expanding genome mapping initiatives boost the market growth
Challenges:Unfavourable reimbursement policies limits the market growth
Restraints:The market's expansion is hampered by a dearth of skilled professionals and ethical and regulatory restrictions and Lack of standardization and concern related to standardization restrict the market growth
Opportunities:Increased in healthcare expenditure creates lucrative growth opportunities for the market and Numerous expansion prospects are created by the use of NGS in molecular diagnostics and precision medicine
Key Target AudienceNew Entrants and Investors, Laboratories, Hospitals, Diagnostic Centres, Clinics, Research Institutes, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others