Added: (Wed Dec 06 2023)

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The global Next Generation Sequencing Services Market is poised for remarkable growth, projecting a robust Compound Annual Growth Rate (CAGR) of 19.9% from 2023 to 2030, with an estimated market value of $20.39 billion by the end of the forecast period.
Driving Forces: The market's upward trajectory is fueled by several key factors, including the decreasing costs associated with sequencing procedures, the approval of novel targeted therapies, a surge in cancer prevalence, strategic partnerships between NGS service providers and pharmaceutical companies, the substantial investment in sequencing infrastructure, and ongoing technological advancements in NGS.
Challenges: Despite these promising trends, the market faces challenges such as the existence of alternative technologies, a shortage of skilled professionals for sample preparation and analysis, and limited actionable mutations for precision medicine.
Growth Opportunities: Nevertheless, the expanding applications of NGS in cancer and agri-genomics research, coupled with advances in sequencing data analytics, present substantial growth opportunities for the market.
Top 10 Companies Driving Innovation: Here are the top 10 companies at the forefront of the Next Generation Sequencing Services Market: https://meticulousblog.org/top-10-companies-in-next-generation-sequencing-services-market/
1. Illumina, Inc. (U.S.)
• Founded in 1998, Illumina offers sequencing and array-based solutions globally.
• Provides NGS services through Core Illumina segment, including whole-genome sequencing and noninvasive prenatal testing.
• Operates in North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
2. Eurofins Scientific S.E. (Luxembourg)
• Established in 1987, Eurofins provides analytical testing services across industries.
• Operates in the NGS Services market through BioPharmaceutical Services and Clinical Diagnostics business area.
• Geographic presence in over 60 countries.
3. Invitae Corporation (U.S.)
• Founded in 2010, Invitae offers genetic testing services across various clinical areas.
• Key presence in the U.S., the U.K., Canada, Germany, India, Australia, Japan, the Netherlands, and Brazil.
4. Foundation Medicine, Inc. (U.S.)
• Founded in 2010, a subsidiary of F. Hoffmann-La Roche AG (Switzerland).
• Specializes in assays for next-generation sequencing, genomic profiling, and immunohistochemistry.
• Presence in the U.S., Brazil, Romania, and Germany.
5. Beijing Genomics Institute (China)
• Established in 1999, BGI provides proteomics and genomics sequencing services globally.
• Majority of sequencing services conducted on the DNBSEQ NGS platform.
• Offices in Denmark, the U.S., China, and Japan.
6. DirectLabs, LLC. (U.S.)
• Founded in 1993, DirectLabs offers direct access laboratory testing across the U.S.
• Aims to prevent and detect early disease through affordable direct-to-consumer laboratory testing services.
7. Novogene Co., Ltd. (China)
• Founded in 2011, Novogene operates as a genomics solution provider globally.
• Expertise in NGS; subsidiaries in the U.S., China, Singapore, the U.K., and other regions.
8. PerkinElmer, Inc. (U.S.)
• Established in 1937, PerkinElmer offers products and services for the life sciences, diagnostics, and applied markets.
• Rebranded its genomics services business as Revvity Omics in May 2023.
9. Macrogen, Inc. (South Korea)
• Founded in 1997, Macrogen offers precision medicine and NGS services globally.
• Subsidiaries and branches in the U.S., Europe, Singapore, Japan, and Spain.
10. QIAGEN N.V. (Netherlands)
• Founded in 1984, QIAGEN provides sample and assay technologies for molecular diagnostics and research.
• Offers a wide range of NGS services through its custom laboratory and genomic services.

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Industry Insights: For a comprehensive analysis of each company, including recent financial performance, key products, company strategies, and partnerships and acquisitions, refer to Meticulous Researchฎ's latest report on the Next Generation Sequencing Services Market – Global Opportunity Analysis and Industry Forecast (2023-2030).
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