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The next generation sequencing market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 13%, as per The Business Research Company’s market report!

Read More On The Next Generation Sequencing Market Report 2022 – https://www.thebusinessresearchcompany.com/report/next-generation-sequencing-global-market-report

The Next Generation Sequencing Market Size In 2022 And Forecast

The global next generation sequencing market grew from $8.05 billion in 2021 to $9.22 billion in 2022 at a compound annual growth rate (CAGR) of 14.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The next generation sequencing market is expected to grow to $15.21 billion in 2026 at a CAGR of 13.4%.

The next-generation sequencing market consists of sales of devices and equipment used in next-generation sequencing and related services by entities (organizations, sole traders, and partnerships) that manufacture next-generation sequencing equipment.

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Growth In Number Of Cases With Chronic Conditions Is Driving The Growth Of The Next Generation Sequencing Market

The prevalence of chronic diseases is also expected to increase significantly, according to the World Health Organization. Hence, the increase in the number of chronic disease cases will increase the requirement for NGS sequencing and boosts revenues for the next-generation sequencing market.

Competitive Landscape And The Regional Analysis Of The Next Generation Sequencing Market

Major players in the next generation sequencing market are Illumina Inc., Thermo Fisher Scientific Inc, BGI Group, Agilent Technologies Inc., Qiagen N.V., Hoffmann-La Roche AG, Eurofins Scientific, Oxford Nanopore Technologies, Pacific Biosciences, and 10x Genomics.

Additionally, as per TBRC’s research – North America was the largest region in the next generation sequencing market in 2021 holding the largest market share.

The Next Generation Sequencing Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the next generation sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the next generation sequencing market.

Technological Advancement – A Key Trend In The Next Generation Sequencing Market

Major companies operating in the sequencing industry are focusing on developing technologically advanced solutions for next-generation sequencing.

Next Generation Sequencing Market Segmentation By The Business Research Company

1) By Product: NextSeq Systems, MiniSeq Systems, NovaSeq Systems, iSeq 100 Systems, Ion PGM Systems, Ion Proton Systems, Ion GeneStudio S5 Systems, PacBio RS II Systems, Sequel Systems, Other Products

2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies

3) By Application: Diagnostics, Drug Discovery, Other Applications

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