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Next Generation Sequencing Market-AMR
NGS is a massively parallel sequencing technology that offers scalability ultra-high throughput, & high speed to determine order of nucleotides in entire genome
Next Generation Sequencing Market by Product (Consumables, Platforms, Services & Nerve Blockers), Application (Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine)” — Allied Market ResearchNE WIN SIVERS DRIVE, PROVINCE: - PORTLAND, UNITED STATES, September 28, 2021 /EINPresswire.com / -- According to a new report published by Allied Market Research, titled,“Next Generation Sequencing Market by Product Type, Application, Technology, End user, and: Opportunity Analysis and Industry Forecast, 2020-2030,” The global next generation sequencing market size was valued at $6,598.62 million in 2020, and is projected to reach $35,503.66 million by 2030, registering a CAGR of 18.2% from 2021 to 2030.
Next generation sequencing (NGS, NextGenSeq) is used for sequencing genomes at high speed and at low cost. It is also known as second generation sequencing (SGS) or massively parallel sequencing (MPS). The technology is used to determine the order of nucleotides in entire genomes or targeted regions of DNA or RNA This technology is used for the identification of biomarkers for early diagnosis as well as personalized treatments, which has significantly impacted the change of the traditional medicine model of diagnosis to a precision medicine model.
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The impact of COVID-19 pandemic is expected to remain positive for the next generation sequencing industry. As Next-generation sequencing (NGS) diagnostic technology has the potential advantage of determining the genetic sequence of a virus and helping scientists understand the mutation of the virus. Furthermore, genome sequencing has been used to understand the spread of Covid-19 and has the potential to understand the impact of interventions and help guide treatments in the future. For instance, Covid-19 Genomics U.K. Consortium (COG-U.K.) was formed in March 2020 to analyze the coronavirus genome using Whole-Genome Sequencing (WGS. To fight against COVID -19 pandemic researchers and scientists together way to identify the new strain of corona virus without any prior knowledge organisms.
A huge number of researches were conducted on DNA and RNA of corona virus to understand how it enters human cells and to learn about its pathogenesis.
For instance, in June 2020, U.S. Food and Drug Administration announced the emergency use authorization (EUA) to Illumina, Inc., for first COVID-19 diagnostic test by using next generation sequence technology to identify the COVID-19 variants with rapid turnaround time. Subsequently, this leads to increase in demand for next generation sequencing technology in any biotechnology & pharma companies, universities, and laboratories.
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By product type segment, the consumable segment held the largest share in 2020 and is anticipated to maintain its dominance during the forecast period. This large share is attributed to the fact that they are widely used throughout the sample preparation process and other pre-requisite steps of NGS. The service segment is estimated to grow at the highest CAGR 19.3% during the forecast period. Owing to technological advancements in sequencing platforms, surge in applications of next generation sequencing, and increase in genome mapping programs is going to boost the global next generation sequencing market in future.
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The consumables product segment is further classified based on sample preparation consumables and other consumables. The sample preparation consumables are further segmented into DNA fragmentation, end repair, A-Tailing & size selection, library preparation & target enrichment, and quality control. The platform NGS product segment is segmented into HiSeq, MiSeq, Ion Torrent, SOLiD, Pacbio Rs II & Sequel System, and other sequencing platforms. The services segment is divided into sequencing services and data management. By application, this market is divided into biomarkers & cancer, diagnostics, reproductive health, personalized medicine, agriculture & animal research, and other applications. By technology, the next generation sequencing technology market is classified into sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single molecule real time sequencing, and other technologies. On the basis of end user, the market is classified into academic & research centers, pharmaceutical and biotechnology companies, hospital & clinics and other end user. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report provides some of the key players operating in the next generation sequencing market include Illumine, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Inc., Beijing Genomics Institute, Qiagen N.V., 454 Life Sciences Corporation (Roche Holding AG), Agilent Technologies, Inc. PerkinElmer, Inc., Genomatix GmbH, and PierianDx. and among others.
Key Findings Of The Study
North America occupied dominant position in global next generation sequencing market in 2020.
Asia-Pacific is estimated to grow at the highest CAGR 19.0% during the forecast period.
By application, Biomarker and cancer segment was the highest contributor to the next generation sequencing market, in 2020, and is projected to grow at a CAGR of 17.5% from 2021 to 2030.
By product type, consumable segment was the highest contributor to the market, in 2020, and is estimated to grow at a CAGR of 17.7% during the forecast period.
By technology, the sequencing by synthesis segment was the highest contributor to the market in 2020.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. 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 domain.
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. 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 Analytics LLP
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