Next-Generation Sequencing (NGS) Market Valued at $6.3 Billion in 2021 and is anticipated to expand at a CAGR of 16% by 2026

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Next-Generation Sequencing (NGS) Market - Demand
for NGS Services
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Next-generation sequencing is a technique is used
to determine the sequence of DNA or RNA in order
to examine genetic variations linked to diseases
or other biological phenomena. The term "NGS"
refers to a set of technologies that utilize
massively parallel sequencing to produce millions
of short read sequences more quickly and with a
significantly higher throughput. The
Global Next-generation Sequencing (NGS) Market
valued at 6.3 billion (2021) is set to witness a
significant growth rate of 16 in the next 5
years. Some of the key factors driving the global
next-generation sequencing (NGS) market include
the quick advancements in sequencing platforms,
increasing applications of NGS, rising demand for
NGS services, development of advanced
bioinformatics tools, high investments in RD,
and growing incidence of cancer and infectious
diseases. Technological developments in
sequencing platforms to fuels the Next-generation
Sequencing (NGS) Market Demand Continuous
developments in sequencing technology have
enabled to develop efficient, portable, and
easy-to-use NGS sequencers to deliver rapid and
precise results while also reducing turnaround
times. Such advancements tend to provide
competitive edge to manufacturers and therefore,
major players are constantly focusing on
investing in research activities for the creation
of new products to strengthen their positions in
this high growth market.
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• Here is a list of a few technological
  developments
• In March 2022, Element Biosciences Inc. launched
  its benchtop sequencer - Element AVITI System,
  that offers combination of performance, cost, and
  flexibility in an unprecedented way. This system
  consists of a benchtop NGS instrument and related
  consumables
• In December 2021, Singular Genomics Systems, Inc.
  commercially launched its G4 platform, a powerful
  benchtop sequencer featuring a new
  high-performance chemistry with advanced
  engineering to give precision, flexibility,
  speed, and power for a wide range of
  applications, including cancer and immunology
  research
• In December 2021, Roche launched its AVENIO Edge
  System, a next-generation platform to assist
  sequencing laboratories and researchers to reduce
  human error, further providing fast, precise, and
  reliable results
• Explore Premium Report on Next-generation
  Sequencing (NGS) Market _at_ https//meditechinsights
  .com/next-generation-sequencing-ngs-market/
• Partnership and collaboration to increase the
  acceptance and research outcomes for diagnostic
  applications
• The next-generation sequencing market has seen a
  number of partnerships and collaborations by
  market players to improve the adoption of this
  technology for clinical applications and
  co-develop advanced diagnostic solutions.

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• The following is a list of some of the strategic
  initiatives that boost the adoption of NGS for
  diagnostic applications
• In January 2022, Illumina entered into multi-year
  partnership with Agendia N.V., a precision
  oncology provider for breast cancer, to
  co-develop in vitro diagnostic (IVD) tests for
  oncology testing using NGS technology
• In July 2021, Qiagen partnered with Sysmex for
  the development and marketing of cancer companion
  diagnostic (CDx) solutions, leveraging Sysmexs
  Plasma-Safe-SeqS technology for NGS
• In April 2021, Thermo Fisher Scientific
  collaborated with Mayo Clinic, a non-profit
  organisation to accelerate access to innovative
  diagnostic solutions for haematology, allergy,
  oncology, and autoimmunity diagnostics,
  leveraging NGS technology
• In January 2021, Illumina announced precision
  oncology partnerships with Merck, Bristol Myers
  Squibb, Myriad Genetics, and Kura Oncology for
  advancements in comprehensive genomic profiling
  using TruSight Oncology product portfolio
• In August 2020, Oxford Nanopore Technologies
  entered into an agreement with the UKs
  Department of Health and Social Care, to roll out
  its LamPORE SARS-CoV-2 tests across NHS testing
  laboratories

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Competitive Landscape Analysis of Next-generation
Sequencing (NGS) Market The global
next-generation sequencing (NGS) market is marked
by the presence of key players such as Illumina
(US), Thermo Fisher Scientific (US), Pacific
Biosciences (US), Oxford Nanopore Technologies
(UK), Hoffmann-La Roche AG (Switzerland), QIAGEN
(Germany), and others. For More Detailed
Insights, Contact Us _at_ https//meditechinsights.co
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