Next-Generation Sequencing Market valued at $6.3 billion is set to witness a growth of 16% by 2026

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Next-generation sequencing (NGS) is a technique for determining the sequence of DNA or RNA in order to investigate genetic variations linked to diseases or other biological phenomena. NGS refers to a set of technologies which use massively parallel sequencing to generate millions of short read sequences in a shorter time and with considerably higher throughput.

Technological Advancements in sequencing platforms to fuel its High Market Demand

Continuous advances in sequencing technology have enabled to develop efficient, portable, and easy-to-use NGS sequencers to deliver rapid and precise results while also reducing turnaround times. Such advancements tend to provide competitive edge to manufacturers and therefore, key players are continuously focusing on investing in research activities for new product development to strengthen their positions in the market. Some of the technological advancements are listed as below:

• In March 2022, Element Biosciences Inc. launched its benchtop sequencer – Element AVITI System, that offers combination of performance, cost, and flexibility in an unprecedented way. This system consists of a benchtop NGS instrument and related consumables.
• In December 2021, Singular Genomics Systems, Inc. commercially launched its G4 platform, a powerful benchtop sequencer featuring a new high-performance chemistry with advanced engineering to give precision, flexibility, speed, and power for a wide range of applications, including cancer and immunology research.
• In December 2021, Roche launched its AVENIO Edge System, a next-generation platform to assist sequencing laboratories and researchers to reduce human error, further providing fast, precise, and reliable results.

Partnership and collaboration to boost adoption and research outcomes for Diagnostic Applications

The next-generation sequencing market has witnessed a number of partnerships and collaborations by top market players to enhance the adoption of this technology for clinical applications and co-develop advanced diagnostic solutions. Some of the strategic initiatives that boost the adoption of NGS for diagnostic applications are listed below:
• In January 2022, Illumina entered into multi-year partnership with Agendia N.V., a precision oncology provider for breast cancer, to co-develop in vitro diagnostic (IVD) tests for oncology testing using NGS technology.
• In July 2021, Qiagen partnered with Sysmex for the development and marketing of cancer companion diagnostic (CDx) solutions, leveraging Sysmex’s Plasma-Safe-SeqS technology for NGS.
• In April 2021, Thermo Fisher Scientific collaborated with Mayo Clinic, a non-profit organisation to accelerate access to innovative diagnostic solutions for haematology, allergy, oncology, and autoimmunity diagnostics, leveraging NGS technology.

Competitive Landscape Analysis: Next-Generation Sequencing Market

The global next-generation sequencing market is marked by the presence of top market players such as Illumina (US), Thermo Fisher Scientific (US), Pacific Biosciences (US), Oxford Nanopore Technologies (UK), Hoffmann-La Roche AG (Switzerland), QIAGEN (Germany), and others.

Get Customized Research Report on Next-Generation Sequencing (NGS) Market @ https://meditechinsights.com/next-generation-sequencing-ngs-market/

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