Global Next Generation Sequencing Market, by Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, and Others), by Application (Drug Discovery, Personalized Medicine and Genetic Screening, Disease Diagnosis, Agriculture and Animal Research, and Others), by End User (Hospital, Research Centers, Pharma and Biotech Firms, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.

Increased launches of solutions that can be used with next generation sequencing procedures to detect diseases is expected to drive the market growth over the forecast period. For instance, in June 7, 2022, Twist Bioscience Corporation, a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, announced the launch of the Twist MRD Rapid 500 Panel1, a custom solution that can be added to a standard next generation sequencing (NGS) workflow, offering fully customizable and highly cost effective panels to detect minimal residual disease (MRD) such as cancer in as few as five days

Global Next Generation Sequencing– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the next generation sequencing market, owing to the increasing efforts by the government of the countries to sequence the genomes of the COVID-19 infection using next generation sequencing technique. For instance, in March 2020, the UK government had launched a new alliance to sequence the genomes of SARS-CoV-2, the virus responsible for the current COVID-19 pandemic. Backed by a £20 million (US$  24.15 million) investment, the COVID-19 Genomics UK Consortium (COG-UK) is comprised of the NHS, Public Health Agencies, the Wellcome Sanger Institute and several academic institutions. Whole genome sequencing (WGS) provides the highest possible resolution information about an organism’s genome, and has the potential to transform infectious disease management.

Global Next Generation Sequencing: Key Developments

In January 2022, Pathogenomix Inc., a next generation sequencing, pathogen diagnostic company, announced that the US Food and Drug Administration (FDA) had granted it a breakthrough device designation for its patho-Seq assay. Patho-Seq is designed for the rapid detection and identification of hundreds of clinically relevant bacteria for a broad list of clinical conditions and sample types, including sepsis from whole blood samples and bacterial meningitis from CSF

Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Next Generation Sequencing”-  Forecast to 2030, Global Next Generation Sequencing, by Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, and Others), by Application (Drug Discovery, Personalized Medicine and Genetic Screening, Disease Diagnosis, Agriculture and Animal Research, and Others), by End User (Hospital, Research Centers, Pharma and Biotech Firms, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the Next Generation Sequencing market, click the link below:

https://www.coherentmarketinsights.com/market-insight/next-generation-sequencing-market-158

Moreover, increasing prevalence of infectious diseases is expected to drive the market growth over the forecast period. For instance, according to the World Health Organization facts sheet published on April 2022, there were 241 million cases of malaria in 2020 compared to 227 million cases in 2019 worldwide

Key Takeaways of the Global Next Generation Sequencing:

  • The global next generation sequencing market is expected to exhibit a CAGR of 18.3%s during the forecast period due to the increasing efforts by laboratories to apply next generation sequencing procedures for treating various diseases such as cancer is expected to drive the market growth over the forecast period. For instance, in February 2022, first cancer genome sequencing machine was installed in Kerala, India. This is set to change cancer treatment in the state as genome sequencing would provide oncologists with more data about the causes of cancer and help them create custom treatments, also called precision medicine or personalized medicine based on an individual tumour’s genetic profile
  • Among end users, the research centers is estimated to hold a dominant position in the global next generation sequencing market over the forecast period, owing to the increased research activities and establishments of next generation sequencing facilities by the research organizations. For instance, in July 2019, Union Minister of Health and Family Welfare, Science and Technology and Earth Sciences, Dr Harsh Vardhan inaugurated the Next Generation Sequencing (NSG) facility at the Centre for Cellular and Molecular Biology, a premier research organization in frontier areas of modern biology, in Hyderabad
  • On the basis of regions, North America is estimated to account for the largest market share in the global next generation sequencing market over the forecast period, owing to the increasing investments by the government of the region to implement next generation sequencing based projects. For instance, in 2018, Canadian Institute of Health Research in collaboration with Genome Canada (a non-profit organization using genomic-based technologies) announced an investment of US$ 162 million over a period of 4 years to support 15 genome-based precision health projects
  • Major 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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