SEATTLE, June 30, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Global Next Generation Sequencing Market is estimated to be valued at US$ 12,870.5 million in 2022 and is expected to exhibit a CAGR of 18.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Next Generation Sequencing Market:
Major players operating in the market are focusing on adopting strategies such as product launches, which is expected to drive the market growth over the forecast period. For instance, in August 2020, Ancestry, a genealogy company, launched a new product which features next-generation sequencing. The new product aims to help customers gain insights into their health and risk factors. Called “AncestryHealth powered by Next Generation Sequencing,” the tool can screen for genes associated with breast cancer, heart disease, colon cancer and blood disorders.
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Key Market Takeaways:
The global next generation sequencing market is expected to exhibit a CAGR of 18.3% during the forecast period due to the increasing prevalence of infections. For instance, according to the World Health Organization Facts Sheet 2022, around 296 million people were living with chronic hepatitis B infection in 2019 globally
Among technology, the whole genome sequencing (WGS) segment is expected to dominate the segment growth over the forecast period, as numerous initiatives are being undertaken by universities and research institutions for utilizing WGS technology in identifying the cause of diseases. For instance, in February 2021, Stanford Medicine, an institute integrating a premier medical school with world-class hospitals to advance human health, launched in-house service for whole genome sequencing
On the basis of applications, the disease diagnosis segment is expected to dominate the segment growth over the forecast period, owing to the increasing approvals for next generation sequencing tests for the detection of diseases and the specimen causing the disease. For instance, in August 2020, Helix, the leading population genomics company, announced that it had received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for the Helix COVID-19 NGS Test. The test is an amplicon-based next-generation sequencing (NGS) test intended for the qualitative detection of nucleic acid from the SARS-CoV-2 in upper respiratory specimens (nasopharyngeal swabs, oropharyngeal (throat) swab, mid-turbinate nasal swabs, and anterior nasal swabs) from individuals suspected of COVID-19 by their healthcare provider
Key players operating in the global next generation sequencing market include Thermo Fisher Scientific Inc., Agilent Technologies, Inc, bioMérieux SA, F. Hoffmann-La Roche Ltd , QIAGEN, Illumina, Inc., Oxford Nanopore Technologies plc., BGI, PerkinElmer Genomics, and Pierian.
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Global Next Generation Sequencing Market, By Technology:
Whole Genome Sequencing
Whole Exome Sequencing
Global Next Generation Sequencing Market, By Application:
Personalized Medicine and Genetic Screening
Agriculture and Animal Research
Global Next Generation Sequencing Market, By End User:
Pharma and Biotech Firms
Global Next Generation Sequencing Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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