Next Generation Sequencing Market Size Worth $11.7 Billion By 2028: Grand View Research, Inc.

Next Generation Sequencing Market Size Worth $11.7 Billion By 2028: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Feb. 23, 2021

SAN FRANCISCO, Feb. 23, 2021 /PRNewswire/ -- The global next generation sequencing market size is anticipated to reach USD 11.7 billion by 2028 registering a CAGR of 14.4%, according to a new report by Grand View Research, Inc. As researchers are continuously unlocking the genetic diversity, the development of targeted therapies is on the rise. These therapies are targeted towards narrow populations of patients that have specific or rare genomic biomarkers. Therefore, this is expected to increase the utilization of next generation sequencing (NGS) technology for targeted therapies.

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Key suggestions from the report:

Read 328 page research report with ToC on "Next Generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Application (Oncology, Consumer Genomics), By Workflow, By End-use, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market

Simplification in the NGS workflow coupled with the continued price reductions in instruments as well as reagents is attributed to the increasing adoption of this technology. The cost of sequencing the human genome has reduced from USD 100 million to less than USD 1,000 in less than two decades. Moreover, enhancement in the bioinformatics capabilities will lead to broadening of NGS adoption at the low- and high-throughput ends of the research market.

Several companies are engaged in the innovation of long-read sequencing technologies, which will augment the research as well as clinical application sets. The growing automation in the pre- & post-sequencing protocols, and data analysis is also driving the market. The utilization of novel platforms for the development of personalized medicine at a genetic level is also a significant factor, which is expected to boost the demand for NGS over the forecast period.

Grand View Research has segmented the global next generation sequencing market on the basis of technology, application, workflow, end-use, and region:

List of Key Players of Next Generation Sequencing Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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