What is the global market size of Next Generation Sequencing Market?

Global Next Generation Sequencing Market size was valued at USD 7.82 billion in 2022 and is poised to grow from USD 9.27 billion in 2023 to USD 36.04 billion by 2031, growing at a CAGR of 18.5% in the forecast period (2024-2031).

Next Generation Sequencing Market Size

Next Generation Sequencing Market Insights

Global Next Generation Sequencing Market size was valued at USD 11.7 billion in 2023 and is poised to grow from USD 13.37 billion in 2024 to USD 38.96 billion by 2032, growing at a CAGR of 14.3% during the forecast period (2025-2032).

Next generation sequencing is a technique that employs massive parallelism in sequencing millions or even billions of DNA strands. This method is also known as high throughput sequencing. NGS is less dependent on fragment-cloning strategies that are used in Sanger genome sequencing. The advantages of NGS over Sanger’s sequencing method include low cost, high accuracy and speed, precise results even if small amounts of samples are used. Thus, NGS is widely used in biomarker discovery, cancer studies, personalized medicine, agriculture and animal studies, etc.

Genome sequencing has also been applied to understanding how Covid-19 spreads and can inform how interventions affect disease progression and subsequent treatments. The Covid-19 Genomics U.K. Consortium (COG-U.K.) was set up in March 2020, to utilize Whole-Genome Sequencing to investigate the coronavirus genome. Partners in the cooperation are the Welcome Sanger Institute, the NHS, Public Health Agencies, and other academic institutions. These organizations have collaborated on mapping the virus’s evolution and spread.

US Next Generation Sequencing Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

Next Generation Sequencing Market size was valued at USD 9.27 Billion in 2023 and is poised to grow from USD 10.98 Billion in 2024 to USD 42.71 Billion by 2032, growing at a CAGR of 18.5% during the forecast period (2025-2032).

The next-generation sequencing market can be defined by intense competition among the prominent market players. The introduction of unique platforms that are fast, small, and affordable is one of the tactics utilized by the organizations to enhance their market position. Cerba Research, declared two new COVID-19 exploratory tools in January 2021, one PCR-based and the NGS-based for improving research and development necessary for vaccine development against coronavirus. 'Illumina Inc. (US) ', 'Thermo Fisher Scientific, Inc. (US) ', 'PerkinElmer Inc. (US) ', 'BGI Group (China) ', 'Agilent Technologies Inc. (US) ', 'Eurofins Scientific SE (Luxembourg) ', 'Pacific Biosciences of California Inc. (US) ', 'Oxford Nanopore Technologies (UK) ', 'QIAGEN NV (Netherlands) ', 'F. Hoffmann-La Roche AG (Switzerland) ', 'GENEWIZ Inc. (US) ', 'Psomagen, Inc. (South Korea) ', '10x Genomics Inc. (US) '

NGS allows extensive analysis of a person’s genome, which helps in the identification of genetic variations. This influence drug response, susceptibility to diseases, and possible adverse reactions. This personalized technique is boosting the incorporation of NGS into clinical settings, where it improves treatment efficiency by customizing therapies that match the genetic profiles of patients.

NGS provides a powerful tool for diagnosing rare genetic disorders accurately and swiftly. By sequencing an individual’s genome, clinicians can pinpoint the genetic basis of rare diseases, enabling early intervention and more effective management strategies. This capability drives market growth as healthcare providers increasingly rely on NGS for precise and timely diagnosis of challenging medical conditions.

Based on regions, North America is dominating the next generation sequencing market with the largest share. This is mainly because the region has some of the best clinical labs that use NGS for offering genetic testing services. Furthermore, increasing investment in R&D, the availability of advanced medical research structure, and the advancement of WGS is also positively influencing the market growth in this region. The presence of prominent manufacturers, active government support, and the increasing prevalence of cancer are also driving the expansion of the market in North America. The region also has many prestigious research institutions, top universities, and major pharmaceutical companies, equipped with financial resources for investing in the most advanced NGS technologies. Such infrastructure not only supports outstanding research in many scientific groups but also boosts innovation in genomic medicine and biotechnology.