What is Next-generation Sequencing Service - Global Market?
Next-generation sequencing (NGS) service is a revolutionary technology that has transformed the field of genomics by allowing for the rapid sequencing of DNA and RNA. This service provides comprehensive insights into genetic information, enabling researchers and clinicians to understand complex biological processes and diseases at a molecular level. The global market for NGS services is expanding rapidly due to its wide range of applications in various fields such as medicine, agriculture, and environmental science. NGS technology offers high throughput, scalability, and speed, making it a preferred choice for genomic studies. It allows for the sequencing of entire genomes, exomes, and transcriptomes, providing detailed information that can be used for personalized medicine, genetic research, and disease diagnosis. The increasing demand for precision medicine and the growing prevalence of genetic disorders are driving the growth of the NGS service market. Additionally, advancements in sequencing technologies and the decreasing cost of sequencing are further propelling market expansion. As a result, the NGS service market is poised for significant growth in the coming years, with numerous opportunities for innovation and development in various sectors.
DNA, RNA in the Next-generation Sequencing Service - Global Market:
DNA and RNA are fundamental molecules that carry genetic information essential for the functioning of all living organisms. DNA, or deoxyribonucleic acid, is a double-stranded molecule that contains the genetic blueprint for an organism's development, functioning, and reproduction. It is composed of four nucleotide bases: adenine, thymine, cytosine, and guanine. These bases pair specifically (adenine with thymine and cytosine with guanine) to form the rungs of the DNA double helix. DNA is responsible for storing and transmitting genetic information from one generation to the next. In contrast, RNA, or ribonucleic acid, is a single-stranded molecule that plays a crucial role in translating the genetic information encoded in DNA into proteins, which are the building blocks of life. RNA is composed of four nucleotide bases: adenine, uracil, cytosine, and guanine. Unlike DNA, RNA is more versatile and can perform various functions, including acting as a messenger (mRNA), a structural component (rRNA), or a catalyst (ribozymes). Next-generation sequencing (NGS) technology has revolutionized the study of DNA and RNA by enabling the rapid and accurate sequencing of these molecules. NGS allows researchers to sequence entire genomes or specific regions of interest, providing detailed insights into genetic variations, gene expression, and regulatory mechanisms. This technology has significantly advanced our understanding of complex biological processes and diseases, leading to the development of targeted therapies and personalized medicine. In the context of the global market, NGS services are in high demand due to their ability to provide comprehensive genomic information that can be used for various applications, including disease diagnosis, drug development, and agricultural improvement. The increasing prevalence of genetic disorders and the growing need for precision medicine are driving the demand for NGS services. Additionally, advancements in sequencing technologies and the decreasing cost of sequencing are making NGS more accessible to researchers and clinicians worldwide. As a result, the global market for NGS services is expected to experience significant growth in the coming years, with numerous opportunities for innovation and development in various sectors.
Pharmaceutical, Biotechnology, Academic and Research Institutes, Others in the Next-generation Sequencing Service - Global Market:
Next-generation sequencing (NGS) services have a wide range of applications across various industries, including pharmaceuticals, biotechnology, academic and research institutes, and others. In the pharmaceutical industry, NGS is used to identify genetic mutations associated with diseases, enabling the development of targeted therapies and personalized medicine. By understanding the genetic basis of diseases, pharmaceutical companies can design drugs that specifically target the underlying genetic mutations, leading to more effective treatments with fewer side effects. NGS also plays a crucial role in drug discovery and development by providing insights into the genetic factors that influence drug response and resistance. In the biotechnology sector, NGS is used for various applications, including genetic engineering, synthetic biology, and the development of genetically modified organisms (GMOs). NGS allows researchers to sequence entire genomes or specific regions of interest, providing detailed information that can be used to modify or enhance the genetic traits of organisms. This technology is also used in the development of diagnostic tests and biomarkers for various diseases, enabling early detection and personalized treatment. Academic and research institutes use NGS services to study complex biological processes and diseases at a molecular level. NGS provides researchers with comprehensive genomic data that can be used to understand gene expression, regulatory mechanisms, and genetic variations. This information is crucial for advancing our understanding of various diseases and developing new therapeutic strategies. In addition to these industries, NGS services are also used in other fields such as agriculture and environmental science. In agriculture, NGS is used to improve crop yields and resistance to pests and diseases by identifying and modifying genetic traits. In environmental science, NGS is used to study biodiversity and monitor environmental changes by analyzing the genetic composition of various organisms. Overall, the global market for NGS services is expanding rapidly due to the increasing demand for precision medicine, advancements in sequencing technologies, and the decreasing cost of sequencing. As a result, NGS services are becoming more accessible to researchers and clinicians worldwide, leading to significant growth and innovation in various sectors.
Next-generation Sequencing Service - Global Market Outlook:
The global market for next-generation sequencing (NGS) services was valued at approximately $128 million in 2023. It is projected to grow significantly, reaching an estimated $355 million by 2030. This growth represents a compound annual growth rate (CAGR) of 15.7% during the forecast period from 2024 to 2030. The North American market for NGS services is also expected to experience substantial growth during this period. While specific figures for the North American market in 2023 and 2030 are not provided, it is anticipated that the region will see a notable increase in market size, driven by advancements in sequencing technologies and the growing demand for precision medicine. The increasing prevalence of genetic disorders and the need for personalized treatment options are key factors contributing to the expansion of the NGS service market. Additionally, the decreasing cost of sequencing and the availability of advanced sequencing platforms are making NGS services more accessible to researchers and clinicians, further driving market growth. As a result, the global and North American markets for NGS services are poised for significant expansion in the coming years, with numerous opportunities for innovation and development in various sectors.
| Report Metric | Details |
| Report Name | Next-generation Sequencing Service - Market |
| Forecasted market size in 2030 | US$ 355 million |
| CAGR | 15.7% |
| Forecasted years | 2024 - 2030 |
| Segment by Type: |
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| Segment by Application |
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| By Region |
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| By Company | Illumina, Qiagen N.V., PerkinElmer, Eurofins Scientific S.E., Macrogen, LGC Limited, GENEWIZ, Beijing Genomics Institute, SciGenom Labs, MedGenome, Natera, BGI, Roche, LabCorp, Brooks Life Sciences, Novogene |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
