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Redding, California - November 21, 2023

Next Generation Sequencing (NGS) Market in Asia-Pacific to be Worth $6.38 Billion by 2030

Asia-Pacific Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System), Type (Genome, Exome, Targeted), Application (Reproductive, Oncology), Technology (SBS, Nanopore, Nanoball, SMRT Seq) – Forecast to 2030

Meticulous Research^®– a leading global market research company, published a research report titled "Asia-Pacific Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Exome, Targeted) Application (Reproductive, Oncology) Technology (SBS, Nanopore, Nanoball, SMRT Seq) – Forecast to 2030. "

According to this latest publication from Meticulous Research, the Asia-Pacific Next Generation Sequencing (NGS) Market is expected to grow at a CAGR of 16.9% to reach $6.38 billion by 2030. The growth of this market is driven by factors such as the rising cancer prevalence and increasing application of NGS in cancer treatment and research, the declining costs of genome sequencing, technological advancements in sequencing procedures, and increasing pharmaceutical R&D expenditures. However, the high costs of NGS systems and consumables and the availability of alternative technologies restrain the market's growth.

Additionally, the increasing applications of NGS, the rising adoption of bioinformatics and genomic data management solutions, and government initiatives supporting large-scale genomic sequencing projects are expected to offer significant market growth opportunities. However, the lack of skilled professionals and regulatory and standardization concerns in diagnostic testing pose a significant challenge to the market's growth.

Key Players

The key players profiled in the Asia–Pacific NGS market report are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), Qiagen N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), PerkinElmer, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and 10X Genomics, Inc. (U.S.).

Asia–Pacific NGS Market: Future Outlook

The Asia–Pacific NGS market is segmented into Offering, (Consumables [Sample Preparation Consumables {DNA Extraction and Amplification, Library Preparation & Target Enrichment, Quality Control}, Other Consumables], NGS Platforms/Instruments, Software, Services), Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Other Sequencing Types), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing, DNA Nanoball Sequencing), Applications (Clinical Applications [Reproductive Health, Oncology, Infectious Diseases, Other Clinical Applications], Research and Other Applications [Drug Discovery, Agriculture & Animal Research, Other Research Applications), End User (Hospitals and Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic Institutes & Research Centers, Other End Users), and Geography.

Among the offerings, in 2023, the consumables segment is expected to account for the largest share of the Asia–Pacific NGS market. The large market share of this segment is attributed to the recurring use of consumables, rising demand for NGS-based diagnostic tests, and increasing applications of NGS in oncology, reproductive health diagnosis, and drug discovery drives the demand for consumables.

Among the sequencing types, in 2023, the targeted genome sequencing segment is expected to account for the largest share of the Asia–Pacific NGS market. The large share of this segment is mainly attributed to rapid and cost-effective methods, applications in discovering somatic mutations in complex samples such as cancerous tumors mixed with germline DNA, and a high cult of researchers for targeted genome sequencing to study gene-drug associations is expected to drive the targeted genome sequencing segment.

Among the technologies, in 2023, the sequencing by synthesis segment is expected to account for the largest share of the market. The large share of this segment is primarily attributed to the high accuracy of this technology in DNA sequencing, its highest yield of error-free throughput, and the increasing incorporation of this technology in NGS products.

Among the applications, in 2023, the research and other applications segment is expected to account for the larger share of the Asia–Pacific NGS market. The large market share of this segment is attributed to the prevalence of genetic disorders, the increasing adoption of sequencing-based tests in laboratories, the growing demand for personalized medicines, and the increasing NGS-based research, are factors contributing to the significant market share of this segment.

Among the end users, in 2023, the pharmaceutical & biotechnology companies’ segment is expected to account for the largest share of the Asia–Pacific NGS market. The large market share of this segment is attributed to factors such as the increasing R&D spending by pharmaceutical & biotechnology companies and the rising incidence of chronic diseases, which drive the adoption of NGS among pharmaceutical & biotechnology companies.

Geographic Review

This research report provides a comprehensive analysis of the market in China, Japan, India, Singapore, Australia, and the Rest of Asia–Pacific. In 2023, China is expected to account for the largest share of the Asia–Pacific NGS market. The growth of this market is attributed to factors such as favorable government initiatives for genomics research, growing applications of NGS-based research, raising awareness of NGS-based tests, and increasing cancer prevalence and genetic diseases.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5722

Key questions answered in the report:

Which are the high-growth market segments in terms of the offering, sequencing type, technology, application, end user, and country?
What was the historical market size for NGS in Asia–Pacific?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, challenges, opportunities, and trends in the Asia–Pacific NGS market?
Who are the major players in the Asia–Pacific NGS market?
What is the competitive landscape like, and who are the market leaders in the Asia–Pacific NGS market?
What are the recent developments in the Asia–Pacific NGS market?
What are the different strategies adopted by the major players in the Asia–Pacific NGS market?
What are the geographical trends and high-growth countries?

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Redding, California - November 21, 2023

Next Generation Sequencing (NGS) Market in Asia-Pacific to be Worth $6.38 Billion by 2030

Asia-Pacific Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System), Type (Genome, Exome, Targeted), Application (Reproductive, Oncology), Technology (SBS, Nanopore, Nanoball, SMRT Seq) – Forecast to 2030

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Asia-Pacific Next Generation Sequencing (NGS) Market - Opportunity Analysis and Industry Forecast (2023-2030)

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Redding, California - November 21, 2023

Next Generation Sequencing (NGS) Market in Asia-Pacific to be Worth $6.38 Billion by 2030

Asia-Pacific Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System), Type (Genome, Exome, Targeted), Application (Reproductive, Oncology), Technology (SBS, Nanopore, Nanoball, SMRT Seq) – Forecast to 2030

Recommended Readings

Related Reports

Asia-Pacific Next Generation Sequencing (NGS) Market - Opportunity Analysis and Industry Forecast (2023-2030)

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