Next Generation Sequencing Industry Overview
The global next generation sequencing market size was valued at USD 3.99 billion in 2020 and is anticipated to reach USD 11.7 billion by 2028, at a CAGR of 14.4%.
Genome sequencing has been used to understand the spread of Covid-19 and has the potential to understand the impact of interventions and help guide treatments in the future. Covid-19 Genomics U.K. Consortium (COG-U.K.) was formed in March 2020 to analyze the coronavirus genome using Whole-Genome Sequencing (WGS). The consortium includes Wellcome Sanger Institute, the NHS, Public Health Agencies, and other academic institutions. These groups have collaborated to map the evolution and spread of the virus.
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The consortium is also focused on deciphering the transmission chain of the virus so that the spread can be stopped. Researchers at the University of Liverpool have also carried out sequencing analysis to analyze the unique genetic code from samples collected from different individuals.
Companies, such as ThermoFisher and Illumina, have also geared up to fight this pandemic with the help of sequencing. Illumina has already provided support and technology to conduct surveillance and track transmission. The company also aims to develop vaccines and therapies to ensure long-term global security and safety.
The global market is highly competitive. Major industry participants are collaborating with other companies to increase the use of their platforms for research as well as diagnostics use. For instance, in January 2021, Illumina announced multiple oncology partnerships with Merck, Myriad Genetics, Kura Oncology, and Bristol Myers Squibb to expand the utilization and reach of its TruSight Oncology pan-cancer assay.
Next Generation Sequencing Market Segmentation
Based on the Technology Insights, the market is segmented into WGS, Whole Exome Sequencing and Targeted Sequencing & Resequencing.
Based on the Application Insights, the market is segmented into Oncology, Clinical Investigation, Reproductive Health, HLA Typing/Immune System Monitoring, Metagenomics, Epidemiology & Drug Development, Agrigenomics & Forensics and Consumer Genomics.
Based on the Workflow Insights, the market is segmented into Pre-Sequencing, Sequencing and NGS Data Analysis
Based on the End-use Insights, the market is segmented into Academic Research, Clinical Research, Hospitals & Clinics, Pharma & Biotech Entities and Other Users
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Key Companies Profile:
The industry is marked by high competition between the dominant players. Strategies adopted by these companies to enhance their market presence include the launch of novel platforms that are rapid, small-sized, and less expensive.
Some prominent players in the global Next Generation Sequencing market include:
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