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Next Generation Sequencing Market Size, Trends and Companies

Next Generation Sequencing Market to Reach $73.47 Bn by 2034

The next-generation sequencing (NGS) market involves products and services for sequencing DNA or RNA, used to study genetic variations linked to diseases. NGS has revolutionized biological research, offering deeper insights than traditional methods. In May 2022, Ultima Genomics received the largest biotech investment in the U.S.

The global next generation sequencing market size is calculated at US$ 10.27 billion in 2024, grew to US$ 12.51 billion in 2025, and is projected to reach around US$ 73.47 billion by 2034. The market is expanding at a CAGR of 21.74% between 2024 and 2034. The NGS market is strongly growing because NGS is needed in disease diagnosis, disease analysis, developing new treatment options, developing gene & cell therapies, etc.

Next Generation Sequencing Market Revenue 2023 to 2034 (USD Billion)

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Market Overview

The next generation sequencing market deals with products, services, and devices needed for sequencing of genetic materials. The market also encompasses research and development associated with next generation sequencing (NGS). The technique known as next-generation sequencing (NGS) is used to identify the DNA or RNA sequence in order to investigate genetic variation linked to illnesses or other biological phenomena. The biological sciences have undergone a revolution thanks to it, as labs are now able to investigate biological systems and carry out a wide range of applications. Traditional DNA sequencing technologies are unable to provide the depth of information required to answer today's complicated genomics issues. That vacuum has been filled by NGS, which is now a common tool for answering these queries.

  • The largest private biotech investment in the United States in May 2022 went to Ultima Genomics, a newcomer to the DNA sequencing market. Along with omics-based diagnostics and cultured leather, several leading fundraising companies are also working on gene and cell therapies.
  • In October 2024, MiLaboratories secured Series A, increasing funding to $10 Million to transform the genomic research landscape. The Platforma.bio Software Development Kit, which was introduced by the San Francisco-based firm with an R&D unit in Bilbao, is revolutionizing the way biologists interpret genetic data to accelerate drug development and enhance related medical sectors.

AI Integration in the Next Generation Sequencing Market

The healthcare system is evolving as a result of the widespread application of artificial intelligence (AI), especially deep learning, in many biological contexts today. In NGS-based diagnostics, artificial intelligence (AI) has shown encouraging potential in improving variant calling accuracy, improving variant prediction, and making electronic health record (EHR) systems more user-friendly.

For instance,

  • In May 2023, Geneyx, an AI-based technology, was chosen by Mediclinic Middle East to analyze NGS data for uncommon and germline disorders in its patients. The program's goal is to speed up genetic research and diagnostics in the Middle East.

Market Dynamics

Driver

Applications in Disease Diagnosis: Hundreds of thousands of genes or entire genomes can be sequenced quickly with NGS. Patient follow-up, prognosis, diagnosis, and treatment decisions have all made extensive use of the sequence variations and mutations found by NGS. Its enormous parallel sequencing capacity opens up new possibilities for precision treatment that is tailored to each patient.

Restraint

Ethical Challenges: There are aspects of using NGS in clinical and research settings that make it difficult to uphold established ethical standards for safeguarding patients and research participants. NGS produces vast volumes of data and findings with varying levels of established clinical significance. The right procedures for data management, communication, and protection must be decided.

Opportunity

Diagnosis and Treatment of Rare Diseases: Roughly 30 million Europeans, 25–50 million Americans, and 8% of Australians suffer from a rare disease. Because it is difficult to get a precise diagnosis, rare diseases are a major challenge for physicians and contribute to the high expenditures of healthcare around the world. The wide phenotypic spectrum of most genes, the significance of mosaic and de novo mutations, the affordability and speed of genetic diagnosis, the detection of digenic inheritance or the presence of multiple rare diseases in a single patient, and the development of promising new treatments have all been made possible by NGS.

Segmental Insights

Efficacy & Efficiency Led the Target Sequencing & Resequencing Segment

By technology, the target sequencing & resequencing segment dominated the next generation sequencing market in 2023. Researchers can concentrate their effort, resources, and data analysis on certain areas of interest by employing targeted techniques with NGS. Additionally, targeted techniques can provide significantly better coverage levels, making it possible to identify variations that whole-genome or Sanger sequencing cannot detect since they are rare and more costly.

For instance,

  • In March 2024, the WHO unveiled a new sequencing gateway and updated guidelines for the use of targeted next-generation sequencing testing in the diagnosis of drug-resistant tuberculosis.

Vast Use in Sequencing Led the Consumables Segment

By product, the consumables segment held the largest share of the next generation sequencing market in 2023 and is expected to grow at the fastest rate during the forecast period. Consumables include kits, reagents, chemicals, enzymes, buffers, solutions, catalysts, and other formulations needed for genetic sequencing. With growing applications of NGS, the demand for consumables is also estimated to grow significantly in the future.

Growing Cases Promoted the Oncology Segment

By application, the oncology segment held the major share of the next generation sequencing market in 2023. According to projections from the Global Cancer Observatory (GLOBOCAN), 19.3 million incident cases of cancer occurred globally in 2020. It is predicted that the number of cancer cases will rise by 12.8% in 2025 compared to 2020. NGS is used to bulk-sequence tumors and find genetic alterations in tumors, which helps with targeted therapy development and liquid biopsies to track the progression of cancer.

Growing Genotype Consumers: Core of the Consumer Genomics Segment

By application, the consumer genomics segment is expected to grow at the fastest rate in the next generation sequencing market during the predicted timeframe. With over 10 million customers now genotyped, the consumer genomics market is developing and gaining traction. Finally, the general public is being exposed to new uses and developments, some of which were unexpected.

Better Healthcare Promotes the Sequencing Segment

By workflow, the sequencing segment was dominant in the next generation sequencing market in 2023. It is anticipated that the information included in DSVs will retool clinicians through medical DNA sequencing. DSVs with high effect sizes are probably going to be useful in preclinical and early diagnosis, prognostication, and therapeutic customization.

The NGS Data Analysis Segment: Meaning Information

By workflow, the NGS data analysis segment is anticipated to grow as the fastest rate in the next generation sequencing market during 2024-2034. Because Next Generation Sequencing (NGS) technologies are producing previously unheard-of volumes of data in the domains of genomes, transcriptomics, and epigenomics, they have completely transformed bioscience, biotechnology, and medicine. Nevertheless, in order to obtain valuable insights and make practical deductions, the data produced by NGS technologies must be thoroughly examined.

The Academic Research Segment Provides Better Treatment Options

By end-use, the academic research segment dominated the next generation sequencing market in 2023. Sequencing technologies are quickly making their way into clinical care and are currently being utilized in research settings. Whole genome sequencing is currently being investigated in trials to determine future dangers and suitable treatments for both healthy and ill populations.

Genetic Basis of Disease Analysis Needs Clinical Research

By end-use, the clinical research segment is estimated to grow rapidly in the next generation sequencing market during the forecast period. Clinical research helps us better grasp the role that genes play in the development of certain diseases. Researchers at NHGRI are collaborating with patients and families who have a history of hereditary diseases in order to better understand the genetic components of both common and uncommon disorders and to create new, more efficient diagnostic and therapeutic approaches.

Regional Insights

Technological Advancements Promote Market’s Growth in North America

North America held the largest next generation sequencing market share in 2023. The region's broad use of next-generation sequencing technologies is a result of several reasons. These include government support for genomics research, a well-established healthcare system, and the rising incidence of chronic illnesses. The next-generation sequencing market in the region is expected to increase due to the presence of major market participants and easy access to cutting-edge genomic research technology.

Furthermore, thanks to developments in genetic research, falling sequencing technology costs, and the growing use of NGS in personalized medicine, the United States led the North American market in 2023. NGS is transforming diagnostics by offering thorough insights into genetic variants and mutations. This is especially true in oncology, where it makes exact tumor profiling and tailored therapy possible. The market forecast for next-generation sequencing is also being bolstered by the increase in research efforts pertaining to pharmacogenomics, infectious diseases, and genetic disorders.

For instance,

  • More than 155,000 participants have started receiving personalized health-related DNA results from the National Institutes of Health's All of Us Research Program. These results include information about how the participants' bodies may process specific medications and whether they are at heightened risk for certain health conditions. This is a significant turning point for the program, fulfilling its commitment to provide participants with value and information sharing.

Growing Interest of Market Players Drives Asia Pacific’s Market

Asia Pacific is expected to grow at the fastest rate during the forecast period. Because next-generation sequencing is becoming more and more advanced and cheaper, the number of cancer cases is rising, and next-generation sequencing is being used more and more in cancer research. The next generation technology has been adopted by emerging economies like China, Japan, and India since it is less expensive. Advances in genomics and the creation of various sequencing techniques and tactics have contributed to the decline in sequencing costs in India over time. In addition, India's generation market grew at the fastest rate in the Asia-Pacific area, while China's generation market held the greatest next generation sequencing market share.

In addition to facing public health challenges, including HIV/AIDS, malaria, TB, and other infectious diseases, India is poised to become the third-largest economy in the world by 2030. In India, one in nine people is expected to get cancer in their lifetime, and up to 96 million people are thought to have a rare disease1. Increasing genomics access in India will contribute to the development of health care and the fight against climate change.

Top Companies in the Next Generation Sequencing Market

  • Illumina
  • BGI
  • Eurofins GATC Biotech GmbH
  • Perkin Elmer, Inc.
  • DNASTAR, Inc.
  • Genomatix GmbH
  • PierianDx
  • Oxford Nanopore Technologies
  • Bio-Rad Laboratories, Inc.
  • QIAGEN
  • F. Hoffman-La Roche Ltd.
  • Thermo Fisher Scientific, Inc.

Next Generation Sequencing Market Companies

Latest Announcements by Industry Leaders

  • In October 2024, in order to make sequencing more affordable for more research and testing laboratories, medical equipment manufacturer Illumina opened a new tab and revealed its new line of smaller, benchtop gene sequencers.

Recent Developments in the Next Generation Sequencing Market

  • In October 2024, the MiSeq i100 Series of sequencing equipment was introduced by Illumina, a multinational corporation dedicated to DNA sequencing and array-based technologies. The new systems are designed to improve next-generation sequencing (NGS) capabilities for labs by providing quick turnaround and user-friendliness.
  • In August 2023, as part of the Almac Group, Almac Diagnostic Services announced an investment to give BioPharma partners access to more Next Generation Sequencing (NGS) capabilities.

Segments Covered in the Report

By Technology

  • Targeted Sequencing & Resequencing
    • DNA-based
    • RNA-based
  • WGS
  • Whole Exome Sequencing
  • Others

By Product

  • Consumables
    • Sample Preparation
    • Target Enrichment
    • Others
  • Platform
    • Sequencing
    • Data Analysis

By Application

  • Oncology
    • Diagnostics and Screening
      • Oncology Screening
        • Sporadic Cancer
        • Inherited Cancer
      • Companion Diagnostics
      • Other Diagnostics
    • Research Studies
  • Consumer Genomics
  • Clinical Investigation
    • Infectious Diseases
    • Inherited Diseases
    • Idiopathic Diseases
    • Non-Communicable/Other Diseases
  • Reproductive Health
    • NIPT
      • Aneuploidy
      • Microdeletions
    • PGT
    • Newborn Genetic Screening
    • Single Gene Analysis
  • HLA Typing/Immune System Monitoring
  • Metagenomics, Epidemiology & Drug Development
  • Agrigenomics & Forensics

By Workflow

  • Sequencing
  • NGS Data Analysis
    • NGS Primary Data Analysis
    • NGS Secondary Data Analysis
    • NGS Tertiary Data Analysis
  • Pre-Sequencing
    • NGS Library Preparation Kits
    • Semi-automated Library Preparation
    • Automated Library Preparation

By End-use

  • Academic Research
  • Clinical Research
  • Hospitals & Clinics
  • Pharma & Biotech Entities
  • Other Users

By Region

  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait
  • Insight Code: 5344
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: November 2024
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

About The Author

Deepa has certified the degree of Master’s in Pharmacy in the Pharmaceutical Quality Assurance department from Dr D.Y. Patil College of Pharmacy. Her research is focused on the healthcare industry. She is the author or co-author of four Review Articles, which include Solid dispersion a strategic method for poorly soluble drugs and solubility improvement techniques for poorly soluble drugs, Herbal Drugs Used In Treatment Of Cataracts, Nano sponges And Their Application in Cancer Prevention and Ayurvedic Remedies of Peptic ulcer. She has also published a Research Article on the Formulation and Evaluation of Mucoadhesive Tablets of Miconazole cocrystal which was published in GIS Science Journal Volume 9 Issue 8. Her passion for secondary research and desire to take on the challenge of solving unresolved issues is making her flourish is the in the research sector.

FAQ's

Isolation of the required nucleic acids, fragmentation of the obtained nucleic acids, sample preparation for the sequencers (library preparation), sequencing processes, and bioinformatic processing and interpretation of the sequencing data are all included in the next-generation sequencing technique.

The clinical use of NGS extends beyond diagnosis. It is also frequently utilized to determine a high-risk group for specific hereditary malignancies and to find mutant targets for targeted treatment.

Ministry of Health and Family Welfare, Government of India, National Institutes of Health, FDA, WHO, PIB, CDC, National Cancer Institute, Department of Biotechnology.