Next Generation Sequencing Market Projected to Reach Valuation of USD 97.8 Billion at 18.3% CAGR from 2024-2035

PORTLAND, OREGON, UNITED STATES, June 21, 2024 /EINPresswire.com/ -- Growing applications in various fields such as genomics, oncology, agriculture, and infectious disease research, technological advancements and increasing demand for personalized medicine drive the growth of the global next generation sequencing market.

Allied Market Research (AMR) has published comprehensive information on the global next generation sequencing market, indicating that the industry is projected to obtain a revenue of $97.8 billion by 2035, with a remarkable CAGR of 18.3% over the forecast period. The market generated a revenue of $13 billion in 2023. The study provides an in-depth analysis of key investment opportunities, market segmentation, recent developments, regional analysis, and the competitive landscape.

The research report uses analytical tools such as SWOT analysis and Porter's Five Forces model to thoroughly assess competitive benchmarks and core competencies. Moreover, it offers valuable insights that enable businesses to make informed decisions and formulate strategies for sustained long-term growth.

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Transformative Trends in Next Generation Sequencing Technology

Next generation sequencing technology has revolutionized genomics, enabling rapid and cost-effective sequencing of entire genomes. The field is constantly evolving, with various trends enhancing its capabilities. Some of the most significant trends in NGS technology include:

Single-cell sequencing

Single-cell sequencing allows for the analysis of the genomic and transcriptomic information of individual cells. This technique is essential for understanding cellular heterogeneity in tissues, identifying rare cell types, and studying the cellular response to environmental changes. For instance, the 10x Genomics Chromium system is commonly used for single-cell RNA sequencing (scRNA-seq). It has enabled researchers to discover the variety of cells in the human brain and detect new types of neurons.

Spatial transcriptomics

Spatial transcriptomics combines gene expression analysis with spatial data to provide a better understanding of how genes are organized within tissues. This method is essential for comprehending tissue architecture and the spatial context of gene expression. For example, the 10x Genomics Visium Spatial Gene Expression Solution has been utilized to analyze the transcriptome of tissues such as the brain, showcasing differences in gene expression among various anatomical regions.

CRISPR-based sequencing

CRISPR technology is being utilized for sequencing purposes, enabling targeted sequencing and precise genome editing. This technique can improve the resolution and efficiency of sequencing specific genomic regions. For example, CRISPR-Cas9 enrichment has been used to target and sequence challenging areas, such as the BRCA1 and BRCA2 genes associated with breast cancer. This approach enables a more detailed analysis of genetic variations in these regions.

Industry News and Updates

AMR's study also examines the latest insights, developments, and analyses across diverse industries, providing essential information to support informed decision-making in today's rapidly evolving market landscape. For example, in March 2023, Agilent Technologies Inc. partnered with Sophia Genetics to integrate its SOPHiA DDM™ platform with Agilent Technologies Inc.'s SureSelect Cancer Comprehensive Genomic Profiling (CGP) assay kit, intended for research use only.

Similarly, in March 2023, Thermo Fisher Scientific Inc. collaborated with Pfizer to expand the availability of NGS-based lung and breast cancer testing to more than 30 countries, thus broadening access worldwide.

Another key development, in September 2022, Illumina Inc. introduced the NovaSeq X Series, featuring the NovaSeq X and NovaSeq X Plus. These advanced next-generation sequencers offer enhanced speed, capability, and sustainability, ideal for high-level sequencing tasks.

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Competitive Landscape

This research report thoroughly explores the competitive landscape of the global next generation sequencing market, providing an in-depth analysis of company profiles, investment returns, product offerings, and competitive strength. Moreover, the top market players are implementing various strategic initiatives to enhance their positioning in the market. This detailed review provides businesses with valuable information to stay ahead in the evolving market landscape.

Top companies profiled in the report include:

PerkinElmer, Inc.

Precigen, Inc.

Thermo Fisher Scientific Inc.

F. Hoffmann-La Roche AG

Illumina, Inc.

Pacific Biosciences of California, Inc.

QIAGEN N.V.

Agilent Technologies, Inc.

ABGI Group

To summarize, the AMR report offers a comprehensive analysis of the global next generation sequencing market, covering development trends, market updates, and the competitive landscape. By utilizing this data, businesses and stakeholders can make informed decisions, identify growth opportunities, and formulate strategies to adapt to the evolving landscape, thus promoting steady growth and development.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every 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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Allied Market Research
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