NextGeneration Sequencing NGS Market to Reach USD 37.8 billion by 2034
Next-Generation Sequencing (NGS) Market Size was valued at USD 11.8 billion in 2024 and is expected to grow at a CAGR of 13.6% to reach USD 37.8 billion by 2034.
The Next-Generation Sequencing (NGS) market is experiencing robust growth driven by advancements in genomics research, precision medicine, and biotechnology. NGS technology has revolutionized genetic analysis by enabling rapid, cost-effective, and high-throughput sequencing. It is extensively used in various applications, including oncology, infectious disease diagnosis, genetic disorders, and agricultural biotechnology. The rising demand for personalized medicine and the increasing adoption of NGS in clinical diagnostics are pivotal factors contributing to market expansion. Additionally, the integration of artificial intelligence and machine learning in NGS workflows is enhancing data analysis capabilities, further boosting its adoption across research and healthcare sectors.
The growing investment in genomic research by governments and private organizations globally is also catalyzing the NGS market's growth. Regions like North America and Europe are leading in terms of technological adoption and infrastructure development, while emerging markets in Asia-Pacific are witnessing a surge in demand due to expanding healthcare facilities and research initiatives. However, challenges such as high initial costs, complex data management, and regulatory hurdles remain barriers to market growth. Despite these challenges, the market is poised for exponential growth, supported by continuous innovations in sequencing technologies and the increasing availability of user-friendly platforms.
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Major companies profiled in the market report include
Thermofischer Inc., Hoffmann-La Roche Ltd., Novartis International AG, Celgene Corporation, Johnson & Johnson, Bristol-Myers Squibb Company, Pfizer Inc., Merck & Co., Inc., Eli Lilly and Company, AbbVie Inc., and Bayer AG..
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report's insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Next Generation Sequencing NGS market.
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It has segmented the global Next Generation Sequencing NGS market
By Technology:
• Whole Genome Sequencing
• Whole Exome Sequencing
• RNA Sequencing
• Targeted Re-sequencing
• Others
By Applications:
• Drug Discovery
• Personalized Medicine
• Genetic Screening
• Disease Diagnosis
• Agriculture & Animal Research
• Others
By End-User:
• Hospitals
• Research Centers
• Pharma & Biotech Firms
• Other
Key Reasons to Purchase this Report:
• A comprehensive study of market size, share and dynamics is a global Next Generation Sequencing NGS 'market research report and a thorough survey of developments in the field.
• It offers an in-depth overview of revenue growth and an analysis of the total business benefits.
• In addition to the strategic landscape for commodity pricing and marketing, the Next Generation Sequencing NGS ' industry research also provides key players.
• This is a new post covering the latest impact on the target market. The research report addresses the rapidly evolving market climate as well as the initial and future impact assessment
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