Next-Generation Sequencing Services Market– Statistics And Analysis & Forecast To 2030Posted by Mrudula Karmarkar on October 3rd, 2022 The global next-generation sequencing services market size is expected to reach USD 4.55 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 18.3% from 2022 to 2030. The development of next-generation sequencing (NGS) technologies has revolutionized gene sequencing in terms of reproducibility and cost savings. This has resulted in the introduction of several advancements in NGS technology to promote its usage in clinical labs and hospitals. Most current innovations in this field revolve around simplifying the usage of seq-technology and making it more sophisticated. These factors have driven the uptake of NGS services across various end-users. Next-generation sequencing has progressed from research to clinical use in the last five years. Around 14 nations have launched large-scale genome sequencing programs, with nearly 60 million people expected to have their genome analyzed by 2030. Conventional disease testing service providers have broadened their portfolio with a rising trend of seq-based genetic tests. For instance, ARUP Laboratories announced the release of new coronavirus tests in March 2022, and IDbyDNA, Inc. partnered with another firm to introduce new coronavirus tests, an NGS test for respiratory illnesses, to aid physicians in evaluating patients with pneumonia and some other respiratory problems. With the rising trend of high throughput sequencing within the pharma and biotech industry, there is a need for more developments to improve the speed and convenience of high throughput seq-platforms and simplify workflows. As a result, companies are focusing on the development of solutions to simplify the amplification and purification of samples and starting input. In March 2022, Illumina, Inc. announced the release of TruSigh Oncology (TSO) Comprehensive (EU), a comprehensive diagnostic that evaluates several tumor genes and indicators to identify a patient's cancer's individual molecular profile. The in vitro diagnostic (IVD) kit would assist in influencing genomic decisions for patients with cancer across Europe, with its global debut taking place first in Europe. Next-generation sequencing (NGS) technology is increasingly leveraged for both conventional and non-conventional applications to gain rapid and comprehensive insights at a genomic level. This is primarily due to continuous improvements in automation, ancillary protocols, services, and analytical solutions in this field. This, in turn, has provided healthy growth prospects for the implementation of NGS in clinical workflows. To Request Sample Copy of this report, click the link: Growing demand for robust sequencing-based diagnostics has resulted in the inception of new seq-technologies, ranging from high-throughput sequencers to portable units. This has fomented the trend of clinical NGS in recent times. For example, in March 2022, ARUP Laboratories declared the launch of new coronavirus tests, and IDbyDNA, Inc. collaborated with another firm introducing new tests for coronavirus, an NGS test for respiratory infections, to assist physicians in screening patients with pneumonia and other respiratory diseases. Next-Generation Sequencing Services Market Report Highlights
Next-generation sequencing is an effective and impartial technique to recognize new coronavirus variants and other pathogens without foreknowledge of the organism. Sequencing allowed the globe to promptly recognize SARS-CoV-2 and advance diagnostic tests and extra tools for epidemic management. Continued genomic sequencing holdup the tracking of the disease’s spread and evolution of the virus. Hastened integration of genomic sequencing in the direction of the exercise of the global health community is essential to prepare for future threats. Key participants have collaborated with several platform manufacturers to receive a license for the use of NGS at their centers. Furthermore, manufacturers are undertaking various marketing strategies to capitalize on avenues in untapped markets such as India, Brazil, and China. For instance, in November 2021, Illumina and Genetic Alliance announced iHope Genetic Program aspires to provide WGS (whole-genome sequencing) access to thousands of people suffering from genetic illness around the world. The majority of iHope Genetic Health's initiatives will be centered on areas of the globe in need beyond the U.S., with over one-third of Illumina's endorse being devoted to patients in Africa. This will help accelerate start-up operations and upgrade existing operations in terms of sequencing volume and efficiency. Some prominent players in the global next-generation sequencing services market include:
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