The global size for Next Generation Sequencing (NGS) Market was USD 10.31 billion in 2022. It is projected to reach USD 25.09 billion by 2032, with a forecasted revenue compound annual growth rate (CAGR) of 9.2%. Several key factors are driving the revenue growth in the market.
One of the main drivers is the increasing prevalence of cancer and genetic disorders globally. This has created a growing need for advanced genetic analysis tools like NGS to understand the genetic basis of these diseases and develop targeted treatments. Additionally, there is a rising demand for customized medicine, which involves tailoring treatments based on an individual's genetic profile. NGS technology plays a crucial role in providing the necessary genomic data for personalized medicine, further fueling the market growth.
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