Next Generation Sequencing Market Is Projected to Gain $35,503.66 Million by 2030: Allied Market Research
Allied Analytics LLP
4 min read
Allied Analytics LLP
The global next generation sequencing market is experiencing outstanding growth, owing to the technological developments in next generation sequencing industry, the increase in the use of NGS, the development of more effective partnerships and collaboration strategies, and the rise in demand for genome mapping programs. Based on region, North America held the major market share in 2020.
Wilmington, Delaware, Nov. 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global next generation sequencing market is anticipated to gain $35,503.66 million by 2030, having witnessed a value of $6,598.62 million in 2020, exhibiting a notable CAGR of 18.2% from 2021 to 2030. The report offers a detailed analysis of current trends, top segments, key investment pockets, regional analysis, and competitive scenarios. The report helps to provide information for leading market players, emerging competitors, investors, and stakeholders in devising and taking the initiative to bolster their competitive edge.
The global next generation sequencing market is classified into various segments based on product, application, technology, end user, and region. It is presented in visual and tabular form, enabling individuals or businesses to gain visibility into the lucrative and rapidly expanding markets.
Based on product, the consumables segment held the massive market share in 2020, contributing to more than two-thirds of the global next generation sequencing market revenue, and is expected to maintain its lead position over the projected period. However, the services segment is estimated to register the fastest CAGR of 19.3% from 2021 to 2030. The other consumables segment is also discussed in the report.
Based on application, the biomarkers and cancer segment dominated the major market share in 2020, garnering more than one-third of the global next generation sequencing market revenue, and is projected to rule the roost by 2030. Nevertheless, the agriculture and animal research segment would cite the fastest CAGR of 19.2% from 2021 to 2030. The diagnostics, reproductive health, personalized medicine, and other applications segments are also studied in the report.
Based on region, the market across North America garnered the highest market share in 2020, acquiring around two-fifths of the global next generation sequencing market revenue, and is predicted to maintain its lead trail during the forecast period. However, the market across the Asia-Pacific region would showcase the fastest CAGR of 19.0% from 2021 to 2030. The other provinces studied in the report include Europe and LAMEA.
The report also provides a detailed evaluation of the prominent players in the global next generation sequencing market such as Thermo Fisher Scientific Inc., BGI Group, PierianDx Inc., Agilent Technologies, Inc., Pacific Biosciences of California, Inc., F. Hoffmann-La Roche AG, Qiagen N.V., Precigen Inc., (Intrexon Bioinformatics Germany GmbH), Illumina Inc., and PerkinElmer, Inc. These market players have embraced various strategies including joint ventures, geographical expansion, collaboration, new product launches, and others to maintain their presence in the market.
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