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Next-generation Sequencing Market Anticipated to be worth $14.8 Billion by 2030: Grand View Research, Inc. | ||
By: PR Newswire Association LLC. - 24 Nov 2022 | Back to overview list |
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SAN FRANCISCO, Nov. 24, 2022 /PRNewswire/ -- The global next-generation sequencing market size is expected to reach USD 14.8 billion by 2030, registering a CAGR of 12.4% over the forecast period, according to a new report by Grand View Research, Inc. Next-generation sequencing (NGS) can be defined as a technique for determining the DNA or RNA sequence to understand the genetic variations that are responsible for diseases as well as other biological phenomena. Key industry Insights & Findings from the report:
Read 300-page market research report, "Next-generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Application (Oncology, Consumer Genomics), By Workflow, By Product, By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research. Next-generation Sequencing Market Growth & Trends NGS aids in the proper interrogation and analysis of up to thousands of genes in multiple samples at one time, which has made it very appealing for use in hospitals and clinics, as well as for research purposes. The technique is being steadily integrated into the healthcare environment, into the screening and diagnosis of diseases, while it has also been widely utilized for accelerating the process of drug research in the personalized medicine space. The COVID-19 pandemic has been a major enabler of industry advancement, with pharmaceutical and biotechnology companies have made significant movements in the space of test kits and vaccines in recent years. A notable example is the use of MinION Mk1C by a research group in China for COVID-19 sample sequencing; the product was developed by UK's Oxford Nanopore Technologies. Furthermore, during the first wave of the pandemic, in June 2020, the US FDA granted emergency use authorization to the Illumina COVIDSeq Test, developed to qualitatively identify the SARS-CoV-2 RNA. These are just a couple of instances that highlight the importance of next-generation sequencing during this period; as a result, their demand is poised to grow steadily in the near future. NGS offers several advantages such as accurate and rapid sample analysis, while being economical, which has led to its strong promotion by governments and private organizations for combating a variety of disorders. A typical next-generation sequencing experiment involves basic steps that include the construction of a sequencing library from the sample, the clonal amplification of the DNA library to improve signal detection from the target, the sequencing of every DNA present in the library via a sequencing instrument, and the analysis of the data. The application areas of NGS include diagnostics & screening in the oncology segment, the clinical investigation of inherited and infectious diseases, and reproductive health. Additionally, the technique is also being widely utilized in the development of drugs, in the consumer genomics & metagenomics space, as well as in the agrigenomics and forensics department. A number of developed and developing nations are investing heavily in their national projects for population genome mapping, which is expected to play a role in strengthening the advancement of the NGS market. Next-generation Sequencing Market Segmentation Grand View Research has segmented the global Next-generation sequencing market based on technology, workflow, application, end-use, and region: Next-generation Sequencing Market - Technology Outlook (Revenue, USD Million, 2018 - 2030)
Next-generation Sequencing Market - Product Outlook (Revenue, USD Million, 2018 - 2030)
Next-generation Sequencing Market - Application Outlook (Revenue, USD Million, 2018 - 2030)
Next-generation Sequencing Market - Workflow Outlook (Revenue, USD Million, 2018 - 2030)
Next-generation Sequencing Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)
Next-generation Sequencing Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the Next-generation Sequencing Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Biotechnology Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/next-generation-sequencing-market-anticipated-to-be-worth-14-8-billion-by-2030-grand-view-research-inc-301686734.html SOURCE Grand View Research, Inc. |
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