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3. Illumina (US) and Thermo Fisher Scientific (US) are Leading Players in the Next-generation Sequencing (NGS) Market

The next-generation sequencing market is projected to reach USD 27.0 billion by 2027 from USD 13.0 billion in 2022, at a CAGR of 15.7% during the forecast period. Growth in the next-generation sequencing market can be attributed to factors such as advancements in NGS technologies, growing incidence of cancer, declining cost of genome sequencing, and improving regulatory and reimbursement scenarios for NGS-based diagnostic tests.

The global next-generation sequencing market is highly competitive. The prominent players operating in this market are Illumina (US), Thermo Fisher Scientific (US), PerkinElmer (US), BGI Group (China), Agilent Technologies (US), Eurofins Scientific (Luxembourg), Pacific Biosciences (US), Oxford Nanopore Technologies (UK), QIAGEN (Netherlands), F. Hoffmann-La Roche AG (Switzerland), Brooks Automation (US), Psomagen, Inc. (US), 10x Genomics (US), Tecan Group (Switzerland), Zymo Research (US), Takara Bio (Japan), Promega Corporation (US), CD Genomics (US), New England Biolabs (US), and Novogene Corporation (China).

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Illumina (US)

Illumina (US) is the leading player in the NGS market, accounting for the largest share of the NGS market. The company’s offerings include a wide range of sequencing, genotyping, gene expression, and molecular diagnostic platforms, consumables, and services that run on the SBS technology. The highest market share of the company is attributed to the launch of new products and strategic collaborations and partnerships in the industry. Some of the recently launched products by Illumina are Urinary Pathogen ID/AMR Panel (UPIP), Viral Surveillance Panel, NovaSeq X Series, NovaSeq 6000 Dx, TruSight Oncology 500 HRD test, Illumina DRAGEN v4.0, and TruSight Oncology (TSO) Comprehensive (EU) test.

Thermo Fisher Scientific (US)

Thermo Fisher Scientific held the second position in the market due to its extensive portfolio of sequencing instruments & consumables. Thermo Fisher focuses on expanding its product portfolio by introducing new and advanced instruments for customers in various fields, such as biotechnology and pharmaceuticals. The company is also engaged in collaborations and agreements. In September 2022, Thermo Fisher Scientific received FDA approval for the Oncomine Dx Target Test as the first NGS-based companion diagnostic kit to aid in therapy selection for patients with RET Mutations/Fusions in thyroid cancers.

Related Reports:

Next-generation Sequencing (NGS) Market by Product & Service (Consumables, Platforms, Services), Technology (SBS, Nanopore), Application (Diagnostic, Drug Discovery, Agriculture), End User (Pharma, Biotech, Academic) - Global Forecast to 2027

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