Genomic sequencing is a method of determining the genetic makeup of an organism. Sequencing technologies have undergone several advancements in the past decade as researchers aim to improve the throughput and accuracy of the base calling while also reducing costs.
The Road Ahead
Ongoing technological advancements are expected to further advance the field of NGS. As research advances and sequencing techniques become even more affordable, NGS is expected to be performed extensively. Moreover, market players are expected to continue to develop advanced platforms to simplify the NGS workflow and automate processes in order to cater to the needs of healthcare organizations and academic research centers.
Asia-Pacific and Middle East NGS Market Industry Overview
The Asia-Pacific and Middle East NGS market was valued at $1,055.6 million in 2022 and is anticipated to reach $2,370.7 million by 2027, witnessing a CAGR of 17.56% during the forecast period 2022-2027.
The market is driven by factors such as the increasing adoption of NGS in various research and diagnostics fields, the growing prevalence of non-communicable disorders, and the advancement in the performance of NGS platforms.
Market Lifecycle Stage
The Asia-Pacific and Middle East NGS market is highly consolidated. This market still holds significant potential for growth as technological developments in NGS platforms and initiatives to integrate genomics in healthcare are ongoing.
The opportunity for growth of the Asia-Pacific and Middle East NGS market lies in the development of economical and portable technologies.
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Segmentation 1: by Offerings
Segmentation 2: by Platform
Segmentation 3: by Throughput
Segmentation 4: by Technology Type
Segmentation 5: by Application
Segmentation 6: by End User
Segmentation 7: by Country
Next-generation sequencing (NGS)-based products are widely employed in research and diagnosis of diseases such as cancer, as well as providing cancer patients with appropriate and individualized therapy. Since the market is dominated primarily by manufacturers of next-generation sequencing instruments, kits, and assays, as well as service providers that provide gene panels and testing services using next-generation sequencing for oncology, the pandemic had a negative impact on the market's revenue growth.
With the growing applications of NGS in disease diagnosis and its potential in designing personalized treatment, the field of NGS is expected to continue to boom. Regions such as the Asia-Pacific and Middle East are witnessing the rise of several government initiatives aimed at better integration of genomics in healthcare.
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