The Middle East & Africa NGS Market is estimated to value USD 0.08 billion by the end of 2022 and is poised to reach USD 0.17 billion by 2027, growing at a CAGR of 16.13% during the forecast period.
The rising prevalence of chronic diseases is clearly a major element driving the MEA next-generation sequencing industry forward. The market is expected to expand due to increasing investments in biotechnology research institutes. The growing demand to improve diagnostic techniques and assure quality treatment is further moving this industry forward. Growing genome research is expected to outpace MEA NGS market expansion.
Increased geriatric population is another prevalent cause that is slowing the growth pace of the next-generation sequencing market in MEA. On the other hand, the government's growing support for adopting public-benefit reimbursement schemes provides growth potential. As possible data management services in emerging countries, next-generation sequences give tremendous cloud computing opportunities for enterprises active in this field. Growth in government initiatives for genomics projects in large-scale sectors such as medication development and research of clinical diagnostics processes will provide opportunities. There is a growing trend in medicine in the next-generation sequencing industry of individualized medical facilities.
To combat COVID-19, researchers and scientists have collaborated to find information using the next generation sequence. Flomics are the most recent research discoveries that are actively monitoring and contributing to the area of next-generation sequencing. In addition, it aids in determining the importance of the connection between the viral and host genomes and the riskiness of people.
The cost of installation and maintenance of laboratory equipment is quite high, slowing the market's growth. Lack of standardization is another factor restricting the growth of the NGS market in this region. The primary challenges facing the worldwide next-generation sequencing market are the interpretation of the data sequence, the acceleration of data processing, and the shortage of data storage generated in the bottleneck. There are major difficulties to address, such as data arising from the various datasets' utilization. Records of data sequences are poor. Some DNAs, such as small fragments, should be analyzed and compared to reference databases, which is inefficient and time-consuming. Many commercial software and industry solutions have been presented to address these numerous obstacles, but there are still many difficulties to overcome. Another key difficulty is data parallelization employing grid or cloud solutions and updating data to central or disrupted data storage and analysis services by customers' PCs.
This research report on the Middle East and Africa NGS Market has been segmented and sub-segmented into the following categories:
Geographically, the MEA NGS market is expected to occupy a substantial share in the global market during the forecast period. The growing preference for personalized medicine, advancements in pre-sequencing and NGS bioinformatics solutions, cloud computing, population growth in the Middle East and Africa, and rising occurrences of infectious illnesses and cancer are just a few factors favoring the growth of the NGS market in MEA. Furthermore, the expected fall in genome sequencing pricing due to key manufacturers' development of quick, high-capacity whole genome sequencers is expected to affect market penetration rates over the next few years positively.
Due to numerous technical and functional developments, high-throughput sequencing, also known as "next-generation" sequencing (NGS), is now integrated into routine clinical practice. While early protocols relied on samples harvested outside of typical clinical pathology workflows, standard formalin-fixed, paraffin-embedded specimens can now be used more frequently as starting material for NGS. Furthermore, methodologies for the processing and interpretation of NGS data and knowledge bases are being developed, allowing physicians to respond more quickly to genomic information at the point of treatment. The availability of a wide range of next-generation sequencing products for use in the diagnosis of chronic diseases meets the needs of healthcare facilities.
Because of the usage of next-generation technologies in hospitals and clinics, the diagnostic Next Generation Sequencing market in South Africa is predicted to develop at the fastest rate during the forecast period.
KEY MARKET PLAYERS:
Some of the notable market participants dominating the MEA NGS market profiled in this report are Illumina Incorporated, Thermo Fischer Scientific, Life Sciences (Roche), Pacific Biosciences, Life Technologies Corp. (Thermo Fischer Scientific), Macrogen Inc, Partek Inc., Genomatix Software GmbH, Perkin Elmer Inc., GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., CLC Bio (Qiagen), BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., DNASTAR Inc., Knome Inc., and Qiagen N.V.
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