Saudi Arabia Next Generation Sequencing Technology Market is expected to grow at a 7.9% CAGR
This growth is being
driven by a number of factors, including Increasing demand for NGS testing in
clinical diagnostics.
According
to TechSci Research report, “Saudi Arabia Next
Generation Sequencing Technology Market –
By Region, Competition, Forecast and Opportunities, 2018-2028”,
the Saudi Arabia Next Generation Sequencing Technology Market is expected to register 7.9% CAGR during the forecast period. Next
Generation Sequencing (NGS) refers to the huge DNA sequencing methods that aid
in genomic discovery. Following the World Health Organization's (WHO)
declaration of COVID-19 as a pandemic, a diverse group of recognized
pharmaceutical and biotechnology companies, have decided to step forward in
order to boost the global research efforts to develop test kits and vaccines. Moreover,
growing technological developments in NGS instruments and technologies are
further likely to offer significant market growth over the coming years. For
instance, in January 2020, the Intelligence Advanced Research Projects Activity
in the U.S. awarded a grant of USD 23 million to the Harvard University, DNA
Script, and Broad Institute. The institutes are conducting collaborative
research to develop a novel technology that will combine enzymatic DNA
synthesis and NGS into a single instrument. To better understand the
link between genetics and disease, several countries have invested in their own
national population genome mapping projects. Furthermore, millions of genomes
are being sequenced by government groups to progress research and discover
better ways to identify and cure cancer, uncommon disorders, and other
ailments. Efforts are being undertaken by the EU to improve the region’s
large-scale genomic data with projects such as France’s French Plan for Genomic
Medicine 2025 and the UK’s 100,000 Genomes Project. Such initiatives have
resulted in the growth of NGS informatics services in the region.
Certain
advantages offered by NGS such as cost-effectiveness, rapid and accurate sample
analysis, and technological advancements are estimated to boost the adoption of
NGS technologies during the forecast period. In addition, the development of
genomics programs in a number of countries is projected to benefit the NGS
market. The advent of next generation sequencing-based diagnoses, along with
proactive government support, are also some of the key market growth factors. The Saudi Arabia
NGS technology market is segmented by product, application, and end user. By
product, the market is segmented into sequencers, consumables, and software. By
application, the market is segmented into clinical diagnostics, research, and
other applications. By end user, the market is segmented into hospitals,
clinics, research laboratories, and other end users.
Browse over XX market data Figures spread through 86 Pages and an in-depth TOC on the "Saudi Arabia Next Generation Sequencing Technology Market."
In 2022, the
sequencers segment accounted for the largest share of the Saudi Arabia NGS technology
market. This is due to the increasing demand for NGS testing in clinical
diagnostics and research. The consumables segment is expected to grow at the
fastest CAGR during the forecast period. This is due to the increasing demand
for NGS reagents and kits.
The clinical
diagnostics segment accounted for the largest share of the Saudi Arabia NGS
technology market in 2022. This is due to the increasing use of NGS in the
diagnosis of cancer, genetic disorders, and infectious diseases. The research
segment is expected to grow at the fastest CAGR during the forecast period.
This is due to the increasing use of NGS in genomic research and drug
development.
Key market players in the Saudi Arabia Next
Generation Sequencing Technology Market are:
- ILLUMINA INC.
- PRECIGEN INC
- PACIFIC BIOSCIENCES
OF CALIFORNIA, INC.
- BGI GROUP
- THERMO FISHER
SCIENTIFIC INC.
- F. HOFFMANN-LA
ROCHE AG
- AGILENT
TECHNOLOGIES, INC.
- PERKINELMER, INC.
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“NGS is a powerful tool
that can be used to sequence the entire genome or exome of an individual. This
information can be used to identify genetic variants associated with a wide
range of diseases and conditions. NGS is also being increasingly used in clinical
research to identify new biomarkers and develop new treatments.. Chronic diseases, such as
cancer and cardiovascular disease, are on the rise in Saudi Arabia. NGS testing
can be used to diagnose these diseases early, when they are most treatable. NGS
can also be used to identify patients who are at high risk of developing
chronic diseases, so that preventive measures can be taken. As more people become
aware of the benefits of NGS testing, demand for this technology is expected to
increase. NGS testing can provide patients with valuable information about
their health and can help them to make informed decisions about their care. The
Saudi Arabian government is committed to supporting the development of the NGS
market. The government has launched a number of initiatives to promote the use
of NGS in clinical diagnostics and research.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Saudi
Arabia Next Generation Sequencing Technology Market Segmented By Technology
Type (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by
Ligation, Pyrosequencing, Single Molecule Real Time Sequencing, and Other
Technologies), By End User (Academic and Research Centres, Pharmaceutical and
Biotechnology Companies, Hospitals and Clinics, and Other End Users), By
Region, and By Competition, 2018-2028,” has evaluated the future growth potential of Saudi Arabia Next Generation Sequencing Technology
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Saudi Arabia Next Generation Sequencing Technology Market.
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