Next-Generation Sequencing (NGS) Market Size Report by Sequencing Type (Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, CHIP Sequencing, De Novo Sequencing, Methyl Sequencing, and Others), By Application, By Product (Instruments, Reagents & Consumables, Services), By End-Use, and By Region Forecast to 2024-2032

Report Summary

Next-Generation Sequencing (NGS) Market Size

The global next-generation sequencing (NGS) market size was USD 19.96 billion in 2023 and it is anticipated to reach of USD 79.81 billion by 2032. The market report exhibits a robust 16.5% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.

What is the Next-Generation Sequencing (NGS)?

Next-generation sequencing, or NGS, is a massively similar sequencing technology that delivers ultra-high scalability, throughput, and speed. The technology is utilized to find the order of nucleotides in whole genomes or targeted areas of RNA or DNA. The biological sciences have been completely transformed by NGS, which enables labs to research biological systems at a depth never before achievable and carry out a vast range of applications. 

Moreover, next generation sequencing has transformed the study of genomics and molecular biology by making it possible to massively sequence DNA considerably faster and cheaper than Sanger sequencing, which was previously used. As a result, the next generation sequencing market demand is increasing. 

Next-Generation Sequencing (NGS) Market Players

• Eurofins Scientific
• Pacific Biosciences
• Thermo Fisher Scientific
• F. Hoffmann-La Roche AG
• Agilent Technologies
• Becton Dickinson and Company
• Genewiz
• Illumina Inc.
• Oxford Nanopore Technologies
• GenapSys Inc.
• 10x Genomics, BGI Group
• Qiagen N.V.
• PerkinElmer
• Macrogen

Next-Generation Sequencing (NGS) Market Highlights

The expansion of the NGS market is primarily attributed to the decreasing cost of genome sequencing, growing cancer majority & rising application of NGS in cancer therapy and research, growing pharmaceutical R&D expense, and technological advancements in sequencing procedures.

• The next generation sequencing market segmentation is mainly based on technology, product, end-use, application, and region.
• North America accounts for the largest market share.

Next-Generation Sequencing (NGS) Market Latest News

In January 2023, QIAGEN forged a partnership with Helix, a leading population genomics company headquartered in California. The collaboration is focused on advancing the evolution of next-generation sequencing companion diagnostics tailored for hereditary diseases.

• In March 2024, seqWell, a leading provider of genomic library workflow solutions worldwide, unveiled their latest innovation: the ExpressPlex HT Library Preparation Kit (ExpressPlex HT). This groundbreaking product marks the debut of the first commercially accessible next-generation sequencing (NGS) library preparation kit. It includes all the essential reagents and indices, empowering users to multiplex up to 6,144 samples conveniently pre-plated in a 384-well format.

Next-Generation Sequencing (NGS) Industry Developments

Growth Drivers:

Technological Advancements: The process of determining DNA and RNA sequences has been greatly accelerated by technological breakthroughs. The efficiency of next-generation sequencing technologies increases with the amount of samples they can evaluate at once. This skill is particularly helpful in clinical and scientific contexts where large-scale sequencing is necessary, such as genomics research and diagnostic tests. Next-generation sequencing technologies are becoming more and more efficient in terms of speed, precision, and cost. Researchers and healthcare professionals will find next generation sequencing more accessible and desirable as a result of these little but significant advancements.

• Low Costs of Sequencing: Next-generation sequencing is being used more frequently for disease diagnosis as a result of declining sequencing prices. The next generation sequencing market size is expanding because of the introduction of several test kits and testing services, especially for non-invasive prenatal testing, cancer diagnosis, genetic testing, and other diagnostic applications.

Next-Generation Sequencing (NGS) Industry Trends

Genomics Research Developments: Genomic research has come a long way, and next-generation sequencing has been instrumental in making this happen. Next generation sequencing technology has brought about considerable improvements in the speed and accuracy of sequencing whole genomes. In order to analyze vast volumes of genetic data and help determine the underlying causes of numerous diseases, next-generation sequencing technology is crucial.

• Increased Use of Telemedicine: The rising use of telemedicine during the pandemic has accelerated the use of next-generation sequencing testing. As a result, the COVID-19 pandemic has played a crucial role in facilitating the next generation sequencing market growth.

Next-Generation Sequencing (NGS) Market Restraints

NGS-Reliant Research Projects on Hold: The demand for next-generation sequencing equipment and reagents has declined as a result of the pandemic's disruption of the global supply chain, and some research projects that depend on NGS have been shelved. Consequently, there has been little hindrance in the overall expansion of the next generation sequencing market.

Next-Generation Sequencing (NGS) Market Segments

The Diagnostics/Infectious Diseases Sector Accounts for the Largest Share

Due to the development of liquid biopsies for cancer diagnosis and the global spread of COVID-19, the diagnostics/infectious disorders category had the highest revenue share. The cancer is diagnosed in real time with the next generation sequencing based liquid biopsy by using circulating tumor DNA as a cancer biomarker.

Moreover, when it comes to identifying low-level circulating tumor DNA (ctDNA) in the bloodstream, next generation sequencing offers remarkable sensitivity with minimal error rates. As a result, the next generation sequencing market share is expanding.

The Instruments Sector Accounts for the Highest Market Share

The need for advanced sequencing technology is evident since precise and trustworthy genetic data is essential for clinical diagnosis and disease therapy. High-throughput sequencing instruments have been developed as a result of ongoing technical improvements, enabling quicker and more effective sequencing of RNA and DNA.

Furthermore, throughout the projection period, the services category is expected to increase at the quickest rate. The increasing demand for services related to data analysis and interpretation highlights the growing importance of these services in comprehending intricate genetic data.

Next-Generation Sequencing (NGS) Market Regional Outlook

North America: North America's broad adoption of next generation sequencing technologies is attributed to a number of variables. These include a developed healthcare system, a rise in the incidence of chronic illnesses, and public support for genomics research. The next generation sequencing market in North America is expected to increase due in part to the presence of major market players and easy access to advanced genomic research technology.

Asia Pacific: The next generation sequencing market is growing at the quickest rate in the Asia Pacific. This can be attributed to rising chronic illness prevalence, higher spending in R&D, and government funding for genomics research.

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

• Next-Generation Sequencing (NGS) Market Report Scope