Next Generation Sequencing Market Analysis, Revenue, Price, Market Share, Growth Rate, Forecast to 2032

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Next Generation Sequencing Market Analysis
Forecast to 2032 by Key Players, Share, Trend,
Segmentation
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• Industry Insights

• Next-generation sequencing (NGS) market is set to
  witness substantial growth through 2032 owing to
  the increasing use of the technology for diverse
  pharmaceutical biopharmaceutical applications.
• Developed economies worldwide with
  state-of-the-art biotech solutions are using NGS
  for drug discovery and development.
• The emergence of novel diseases and the high
  prevalence of terminal illnesses with no
  promising cure have fueled the need for advanced
  therapies.
• For instance, NGS has emerged as a pivotal tool
  in clinical oncology and cancer diagnostics. It
  helps detect variants at an ultra-sensitive and
  precise level, offering groundbreaking cancer
  diagnosis and care.

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• Retinoblastoma (RB), and lung cancer diagnosis
  are some of the prominent areas where NGS has
  gained momentum. As per the American Cancer
  Society's 2023 estimates, the U.S. is projected
  to have more than 238,300 new cases of lung
  cancer and mortality of over 127,000 deaths.
• Leading biotech and pharma companies are
  accelerating innovation and development in the
  field of cancer diagnostics therapeutics with the
  help of NGS.
• For instance, in January 2023, Thermo Fisher
  Scientific announced a partnership with
  AstraZeneca to design a solid tissue
  blood-based companion diagnostic (CDx) test for
  Tagrisso, a targeted cancer drug used to treat
  patients with non-small cell lung cancer.
• The duo will use a fully-integrated NGS platform,
  Genexus Dx System to access the Oncomine Dx
  Express Test, featuring smart specimen-to-report
  workflow offering test results within 24 hours.
  As a result, a growing collaboration between
  industry players and new product launches will
  augment market growth.

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• Regional Analysis

• From a regional frame of reference, the Asia
  Pacific NGS market size will exceed USD 10
  billion by 2032 due to the rise in healthcare
  infrastructure development across India, and
  China. Additionally, promising cost of genome
  sequencing, technological breakthroughs in WGS,
  and the increasing number of RD facilities and
  research centers in APAC will propel industry
  growth.

• Competitive Analysis

• 10X Genomics, BGI, Agilent Technologies, Inc.,
  Bio-Rad Laboratories, GenapSys Inc., F
  Hoffmann-La Roche, Illumina, Inc., Oxford
  Nanopore Technologies, NanoString Technologies,
  Inc., Pacific Biosciences of California, Inc.,
  Qiagen, PerkinElmer Inc., and Thermo Fisher
  Scientific are some top participants profiled in
  the market.

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