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(IT-NEWSWIRE.COM, February 22, 2024 ) According to the latest analysis by the virtue market research Global Next Generation RNA Sequencing (NGS) Market was valued at USD 3.4 billion and is projected to reach a market size of USD 10.58 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 17.6%.
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One enduring force steering the NGS market over the years has been the growing demand for personalized medicine. As our expert observes, the ability of NGS to decode the entire transcriptome has opened avenues for tailoring medical treatments to individual genetic profiles. This has significantly driven market growth as pharmaceutical companies and healthcare providers seek more precise and effective therapeutic solutions.
However, the advent of the COVID-19 pandemic marked a notable shift in market dynamics. As our expert notes, the global health crisis underscored the importance of rapid and accurate diagnostics. NGS technology, with its high-throughput capabilities, played a crucial role in the development of diagnostic tests for detecting SARS-CoV-2. This increased demand for NGS applications not only during the pandemic but also sparked renewed interest in its potential for addressing future infectious disease challenges.
In the short term, an accelerated pace of research and development (R&D) serves as a driving force for the NGS market. Our expert points out that the pursuit of innovative technologies, improved sequencing accuracy, and reduced costs have fueled the adoption of NGS in various fields, including agriculture, forensics, and cancer research. This fervent focus on R&D is anticipated to propel market growth in the coming years.
Amidst the challenges lie opportunities, and one such opportunity that our expert identifies is the rising significance of liquid biopsy. The non-invasive nature of liquid biopsy, enabled by NGS technology, offers a promising avenue for early cancer detection and monitoring. As precision medicine gains momentum, liquid biopsy is anticipated to become a cornerstone in oncology diagnostics, presenting a lucrative opportunity for market players.
A noteworthy trend in the NGS industry is the integration of artificial intelligence (AI) and machine learning (ML) algorithms. Our expert emphasizes that the convergence of NGS and AI/ML technologies has led to advancements in data analysis, interpretation, and pattern recognition. This trend is not only enhancing the efficiency of NGS processes but is also paving the way for more accurate and insightful results. The synergy between NGS and AI/ML is expected to play a pivotal role in unlocking the full potential of genomic data in personalized medicine and beyond.
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Market Segmentation:
By Technology : Sequencing by Synthesis, Ion Semiconductor Sequencing, Nanopore Sequencing, and Single-Molecule Real-Time Sequencing
In the vast realm of biotechnology, Next Generation RNA Sequencing (NGS) has become a captivating subject for scientists and researchers. NGS technology has various methods, and one that stands out as the largest in its segment is sequencing by synthesis. This technique allows scientists to unravel the genetic code in a step-by-step manner, providing detailed insights into the composition of RNA molecules. Meanwhile, the fastest-growing method during the forecast period is Nanopore sequencing, a fascinating process that involves threading RNA through tiny nanopores, allowing for real-time analysis, making it akin to a scientific adventure.
By Application : De Novo Transcriptome Assembly, Variant calling and Transcriptome Epigenetics, Small RNA-Sequencing, and Expression Profiling Analysis
Moving on to the application side of NGS, de novo sequencing takes the lead as the largest in its segment. Imagine it as a treasure hunt in the genomic landscape, piecing together genetic information without a reference genome. On the flip side, the fastest-growing application during the forecast period is Small RNA-sequencing, akin to exploring the tiniest corners of the genetic world, where small RNA molecules play crucial roles in gene regulation.
By Sample Source : Environmental/Microbial, Animal, Plant, and Human
When it comes to the sample source, the largest segment is humans – our own genetic code as the key to unlocking the mysteries of health and disease. However, nature also has its say, and the fastest-growing sample source is plants. Delving into the plant kingdom's genetic makeup opens avenues for advancements in agriculture, environmental studies, and even medicinal plant research.
By Product & Service : Sample Preparation Products, RNA-Sequencing Services, RNA Sequencing Platforms & Consumables, Data Analysis, Storage, and Management
In the realm of products and services, RNA-sequencing products take the spotlight as the largest segment. These products act as the tools of the trade for scientists, enabling them to conduct the intricate process of RNA sequencing. Meanwhile, the fastest-growing segment during the forecast period is data analysis, storage, and management. Think of it as organizing and interpreting the vast amount of genetic information gathered, akin to decoding a complex puzzle.
By End-User : Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research & Academia, and Others
Considering the end-users of NGS technology, hospitals and clinics emerge as the largest segment. Picture healthcare professionals using NGS to diagnose and understand various diseases, paving the way for personalized treatment plans. On the flip side, the fastest-growing end-user segment during the forecast period is pharmaceutical and biotechnology companies. These entities delve into NGS for drug discovery, personalized medicine, and advancing the frontiers of biotechnology.
Regional Analysis:
Geographically, North America takes the lead as the largest segment in the NGS market. Picture researchers and scientists across the United States and Canada at the forefront of genomic research. On the other hand, the fastest-growing region during the forecast period is the dynamic Asia Pacific. Countries in this region, like scientific trailblazers, are accelerating their adoption of NGS technology, contributing to the global genomic exploration.
Latest Industry Developments:
• Companies in the Next Generation RNA Sequencing (NGS) market are increasingly entering into strategic collaborations and partnerships to broaden their capabilities and offerings. Collaborations with research institutions, pharmaceutical companies, and technology providers allow firms to access complementary expertise and resources. This trend has gained momentum as companies recognize the value of pooling knowledge and technologies to address complex challenges in the rapidly advancing field of NGS. Recent examples include partnerships formed to accelerate the development of novel NGS applications and to jointly explore the integration of artificial intelligence for more efficient data analysis.
• A notable trend among market players is a heightened focus on investment in research and development activities. Companies are allocating significant resources to enhance and innovate their NGS technologies, aiming to stay ahead in the competitive landscape. This includes efforts to improve sequencing accuracy, reduce costs, and explore novel applications of NGS in diverse fields. The commitment to R&D is evident in recent developments such as the introduction of cutting-edge sequencing platforms, advanced bioinformatics tools, and the exploration of new sequencing methodologies. By continually advancing their technological capabilities, companies strive to meet the evolving demands of researchers and maintain a competitive edge in the market.
• Companies are strategically expanding their product and service portfolios to offer comprehensive solutions that cater to the diverse needs of researchers and laboratories. This involves not only strengthening their core RNA sequencing products but also diversifying into related services such as data analysis, storage, and management. The trend towards providing end-to-end solutions reflects an understanding of the growing importance of seamless integration throughout the entire NGS workflow. Recent developments include the launch of integrated platforms that combine sequencing instruments with advanced analysis tools, demonstrating a concerted effort by companies to offer more streamlined and user-friendly solutions to their customers.
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About Us:
“Virtue Market Research stands at the forefront of strategic analysis, empowering businesses to navigate complex market landscapes with precision and confidence. Specializing in both syndicated and bespoke consulting services, we offer in-depth insights into the ever-evolving interplay between global demand and supply dynamics. Leveraging our expertise, businesses can identify emerging opportunities, discern critical trends, and make decisions that pave the way for future success.”
Virtue Market Research
Megha
+1-917 436 1025
megha@virtuemarketresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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