NEXT GENERATION SEQUENCING MARKET ANALYSIS

Next Generation Sequencing Market, By Product Type (Instruments, Reagents & Consumables), By Sequencing Type (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, Others), By Application (Drug Discovery, Personalized Medicine, Genetic Screening, Diagnostics, Others), By End User (Hospitals & Clinics, Academic & Research Institutes, Biopharmaceutical Companies, Clinical Laboratories, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Mar 2024
Code : CMI158
Pages :156
Formats :
Excel and PDF
Industry : Biotechnology

Regional Analysis

Next Generation Sequencing Market Regional Insights

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North America has established itself as the dominant region in the next generation sequencing market and is estimated to hold 43.7% of the market share in 2024. With strong presence of global industry leaders and emergence of several startups, the region enjoys high adoption rates of newer sequencing technologies. Presence of sophisticated research infrastructure, availability of funding for genomics and precision medicine initiatives have paved the way for North America's leadership.

Several pharmaceutical and biotechnology companies in the region are investing significantly in applying NGS for drug discovery and development. Leading academic institutes are also supporting research in clinical genomics through sequencing-based techniques. With the objective of faster drug approvals and lower costs, the U.S. FDA has also been encouraging use of biomarkers and companion diagnostics, driving use of NGS in clinical settings. The region also has robust bioinformatics capabilities helping accelerate genomic research. High disposable incomes allow for superior infrastructure and talent availability in the region.

While North America dominates the current market, Asia Pacific is emerging as the fastest growing market for next generation sequencing. Countries like China, Japan, India, South Korea and Australia are rapidly building their genomics capabilities. Considerable government investments into healthcare and biotech industries have created conducive environment for local and global industry players.