Global Next-Generation Sequencing Market valued at $6.3 billion (2021), is set to witness a lucrative growth rate of 16% by 2026

Next-generation sequencing is a technique for determining the sequence of DNA or RNA in order to investigate genetic variations linked to diseases or other biological phenomena. NGS refers to a set of technologies that use massively parallel sequencing to generate millions of short read sequences in a shorter time and with considerably higher throughput.

Recent developments in sequencing platforms, growing applications of NGS, increasing demand for NGS services, development of advanced bioinformatics tools, high investments in R&D, and growing incidence of cancer and infectious diseases are some of the key factors driving the growth of the global next-generation sequencing market.

Technological advancements in sequencing platforms to fuel its market demand

Continuous advances in sequencing technology have enabled to develop efficient, portable, and easy-to-use NGS sequencers to deliver swift and precise results while also reducing turnaround times. Such advancements tend to provide competitive edge to manufacturers and therefore, major players are continuously focusing on investing in research activities for new product development to strengthen their positions in this high growth market. Some of the technological advancements are listed below:

  • 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.

Competitive Landscape Analysis: Next-Generation Sequencing Market

The global next-generation sequencing 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.

Explore Detailed Research Insights on Next-Generation Sequencing (NGS) Market @ https://meditechinsights.com/next-generation-sequencing-ngs-market/

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