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Revolutionizing Therapeutics: The Next Generation Sequencing Boom in Global Drug R&D | BCC Research

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BOSTONFeb. 6, 2024 /7Newswire — Dive into the future of drug development with Global Next-Generation Sequencing. This market is at the forefront of revolutionary advancements, leveraging genomic insights to accelerate breakthroughs in pharmaceutical research, shaping a new era of precision medicine. Explore how advanced sequencing techniques are driving innovation, accelerating drug development, and paving the way for personalized medicine on a global scale.

“According to the latest research study, the demand for Global Next-Generation Sequencing on Drug Development Market grow from $1.3 billion in 2023 and is estimated to increase from $2.9 billion in 2028, at a compound annual growth rate (CAGR) of  17.7% from 2023 to 2028.”

This report covers a broad spectrum of Next-Generation Sequencing (NGS) aspects in the context of drug development, encompassing technologies, applications, industries, initiatives, patents, and key companies. It presents market insights for NGS in drug development for the years 2020 to 2028. The report evaluates NGS technologies, elucidating their importance in drug development, and delves into impactful research initiatives. Key market-driving forces are outlined. The study further breaks down markets by product type, end user, and region, offering market data and forecasts for NGS products related to drug development, including instruments, consumables, and services. Specific geographic markets discussed include North AmericaEuropeAsia-Pacific, and the Rest of the World. BCC Research also provides a summary of main industry acquisitions and strategic alliances, capturing key trends from January 2020 to December 2022. This comprehensive overview equips industry stakeholders with valuable insights for strategic decision-making.

The NGS market in drug development has seen significant growth driven by increased research and development activities. NGS is crucial for unlocking the potential of personalized medicine, improving rationally designed individualized treatments, such as in the personalized treatment of cancer like pancreatic cancer. These factors have led to a notable upswing in the NGS market, emphasizing the importance of effective drug development. In recent years, major players have introduced new technologies, offering a competitive edge. There is a rising demand for easy-to-use and portable next-generation sequencing platforms that deliver quick and accurate test results. Market players are intensifying their R&D efforts to develop new products, with key revolutionary platforms including iSeq 100 (Illumina), Ion Torrent Genexus Dx Integrated Sequencer (Thermo Fisher), PromethION (Oxford Nanopore Technologies), and Ion GeneStudio S5 System (Thermo Fisher) leading the market transformation.

Discover the transformative impact of Next-Generation Sequencing on the drug development industry in our comprehensive research report – click here to Learn More.

Driving forces behind the global next-generation sequencing on drug development market’s growth comprise:

  1. Increasing R&D Activities using NGS technologies-NGS technologies are driving increased R&D activities, revolutionizing drug development. Short for Next-Generation Sequencing, NGS is playing a pivotal role in advancing research efforts, leading to innovative breakthroughs in the field.
  2. Increase in Healthcare Expenditure- Healthcare expenditure is on the rise, reflecting a growing investment in health services and infrastructure. This increase underscores the importance placed on maintaining and improving public health, contributing to enhanced medical facilities, research, and overall healthcare quality.
  3. Technological Advancements in Sequencing Platforms- Technological advancements in sequencing platforms are transforming the landscape of genetic research. These innovations enhance the speed, accuracy, and accessibility of sequencing, ushering in a new era of efficient and powerful genetic analysis.
  4. Shift Towards Precision Medicine– The shift towards precision medicine signifies a targeted approach to healthcare, tailoring treatments based on individual characteristics. This move aims to enhance treatment effectiveness, reduce side effects, and improve overall patient outcomes.
  5. Growing demand of NGS for Designing Individualized Medicine to Cancer Patients- The growing demand for Next-Generation Sequencing (NGS) in designing individualized medicine for cancer patients reflects a personalized approach to treatment. NGS meets the increasing need for tailored therapies, contributing to more effective and precise interventions for individuals battling cancer.
  6. High Accuracy and Low Cost- The combination of high accuracy and low cost is a powerful advantage in various fields. This dual benefit ensures reliable results without compromising affordability, making it a sought-after characteristic in technologies, services, and products across different industries.

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Report Synopsis

Report Metrics

Details

Base year considered

2022

Forecast Period considered

2023-2028

Base year market size

$1.1 billion

Market Size Forecast

$2.9 billion

Growth Rate

CAGR of 17.7% for the forecast period of 2023-2028

Segment Covered

Product Type, End-User, and Region

Regions covered

North America, Europe, Asia-Pacific, and Rest of the World (ROW)

Countries covered           

U.S., Canada, Germany, France, U.K., Italy, Spain, Rest of Europe, China, India, Japan, South Korea, Australia, Rest of Asia-Pacific

Key Market Drivers

•  Increasing R&D Activities using NGS technologies

•  Increase in Healthcare Expenditure

•  Technological Advancements in Sequencing Platforms

•  Shift Towards Precision Medicine

•  Growing demand of NGS for Designing Individualized Medicine to Cancer Patients

•  High Accuracy and Low Cost

The Rising Demand for Global Next-Generation Sequencing on Drug Development Market:

The rising demand for Global Next-Generation Sequencing in Drug Development signifies a growing need for advanced genomic technologies in shaping the future of pharmaceutical innovation. This surge reflects the increasing reliance on genomics to drive breakthroughs in drug discovery and development on a global scale.

Trends and Innovations:

Trends and innovations in the Global Next-Generation Sequencing on Drug Development Market highlight the dynamic advancements shaping pharmaceutical research. These developments signify a continuous drive for cutting-edge technologies and approaches in drug discovery, influencing the evolution of the global market.

Challenges and Opportunities

Challenges and opportunities in the Global Next-Generation Sequencing on Drug Development Market underline the complex landscape of pharmaceutical research. While hurdles may exist, they are met with opportunities to pioneer advancements in drug development, creating a dynamic environment for growth and innovation on a global scale.

This report on the global next-generation sequencing on drug development market provides comprehensive insights and analysis, addressing the following key questions:

  1. 1.  How much of the next-generation sequencing market is expected to increase at a rate relevant to the drug development industry? 

    The market for next-generation sequencing in drug development is anticipated to expand at a compound annual growth rate (CAGR) of 17.7% from $1.1 billion in 2022 to $2.9 billion in 2028.
  2. What are the main forces behind the next-generation sequencing market’s expansion in the drug development industry?

    The increasing use of NGS technologies in research and development, the development of new technologies, the move toward precision medicine, and the growing demand for NGS in the creation of personalized treatment plans for cancer patients are the main factors propelling the growth of the next-generation sequencing market in the drug development industry.

  3. Which markets is the next generation sequencing on for medication development covering?

    The drug development market’s next-generation sequencing is divided into three segments: product type, end-user, and region.
  4. Which market category, by product type, will be in the lead by the end of 2028? 

    By the end of 2028, the consumables category will control the next-generation sequencing market for drug development. 

  5. In the market for next-generation sequencing for drug development, which region holds the most market share? 

    The largest market share is possessed by North America. 

  6. Which companies/players hold a significant position in the drug development market for next-generation sequencing? 

    Important players in the market are Tecan Group, 10X Genomics, Bio-Rad Laboratories, Inc., PerkinElmer, BGI Genomics, Psomagen, Inc., Integrated DNA technologies, CD Genomics, New England Biolabs, Promega Corp., Takara Bio, PacBio, Agilent Technologies, Inc., QIAGEN, Oxford Nanopore Technologies plc., and F Hoffmann-La Roche AG.

Some of the Key Market Players Are:

  • 10X GENOMICS
  • AGILENT TECHNOLOGIES INC.
  • BGI (BEIJING GENOMICS INSTITUTE)
  • BIO-RAD LABORATORIES INC.
  • CD GENOMICS
  • ILLUMINA INC.
  • INTEGRATED DNA TECHNOLOGIES INC.
  • MICRONOMA
  • NEW ENGLAND BIOLABS
  • OXFORD NANOPORE TECHNOLOGIES LTD.
  • PACIFIC BIOSCIENCES OF CALIFORNIA INC.
  • PERKINELMER INC.
  • PROMEGA CORP.
  • PSOMAGEN INC.
  • PRECISION FOR MEDICINE, FORMERLY APOCELL
  • QIAGEN
  • F. HOFFMANN-LA ROCHE LTD.
  • THERMO FISHER SCIENTIFIC INC.
  • TAKARA BIO INC.
  • TECAN GROUP LTD.

Browse More Related Reports: 

Next-Generation Cancer Diagnostics: Technologies and Global Markets: The scope of the report includes clinical NGS technologies, applications, industries, initiatives, patents, and companies. The markets for NGS-based diagnostics are given for the years 2020, 2021, 2022, 2023 and 2028.

Next Generation Sequencing: Emerging Clinical Applications and Global Markets: Next Generation Sequencing: Emerging Clinical Applications and Global Markets explores the expanding role of advanced sequencing technologies in clinical settings. The report provides a concise overview of the market dynamics, highlighting the global trends and applications that shape the growing landscape of Next Generation Sequencing in healthcare.

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