The global next generation sequencing market size was estimated to be USD 8.47 billion in 2023 and is expected to reach at USD 73.33 billion by 2034 with a CAGR of 21.68% during the forecast period 2024-2034. Increasing research & development activities, growing adoption of NGS technologies due to rapid result time, faster processing & cost-effectiveness, rising technological developments in NGS instruments & technologies, surge in investment in genome mapping projects, increasing technological advancements in sequencing platforms, growing launch of advanced sequencing platforms, and rising introduction of technologically advanced next generation sequencing devices are some of the key factors boosting the market growth.
Rising introduction of technologically advanced next generation sequencing devices is predicted to boost the market growth during the forecast period. Next-generation sequencing (NGS) is a massively parallel sequencing technology known for its scalability, ultra-high throughput, and rapid pace in determining the nucleotide order across entire genomes. DNA pre-sequencing stands out as a pivotal stage in the sequencing process, involving the preparation of samples for the subsequent sequencing procedure. NGS is increasingly becoming an integral part of clinical laboratory analysis, testing, and disease diagnostics within the global healthcare sector. It has found widespread application in pharmacogenomics to expedite the drug discovery process. For instance, in June 2023, Thermo Fisher Scientific, Inc., a global leader in scientific solutions, has unveiled the Thermo Scientific Orbitrap Astral Mass Spectrometer, a cutting-edge instrument with high speed and resolution designed for the discovery of novel proteins and advancements in precision medicine. This spectrometer offers comprehensive, next-generation sequencing solutions for the analysis of proteomic data.
By product, consumables was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to the rising utilisation of NGS consumables for several diagnostic applications & cancer research, the participation of major companies in creating novel products, their emphasis on obtaining regulatory approvals, and their strategic efforts to guarantee a continuous supply of consumables capable of meeting the growing demand, and increasing launch of new products. For instance, in June 2022, PerkinElmer, Inc. has introduced three research-only sample preparation kits, namely the PG-Seq Rapid Kit v2, NEXTFLEX Small RNA-Seq Kit v4, and NEXTFLEX Rapid XP V2 DNA-Seq Kit. Additionally, platform is predicted to grow at fastest CAGR during the forecast period owing to the surge in technological advancements and growing introduction of cutting-edge platforms.
By application, oncology was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to the increasing incidence of cancer, which necessitates the utilization of advanced technology to enhance oncologists' comprehension of cancer and tumor cell mechanisms, and the utilization of NGS for tasks such as DNA and RNA sequencing, epigenetics, and the analysis of chromosomal abnormalities, contribute to more than three-quarters of the worldwide sequencing data, thus accounting for a significant market share. Additionally, consumer genomics is predicted to grow at fastest CAGR during the forecast period owing to the swift expansion in genealogy, paternity testing, & personal health awareness, surge in introduction of new platforms by the key players. For instance, in November 2022, DNASTAR, Inc., a worldwide bioinformatics software company, has released the Lasergene 17.4 software, featuring advanced functionality for conducting multiple next-generation sequencing alignments. Furthermore, this software includes various applications for sequence assembly and sequence editing.
By technology, targeted sequencing & resequencing was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to a substantial volume of whole genome data will need to be scrutinized at specific gene sites & for isolated genetic expressions, and increasing launch of advanced software. For instance, in March 2023, Illumina Inc., a prominent company in DNA sequencing and array-based technologies, has unveiled Connected Insights, a novel cloud-based software that facilitates tertiary analysis of clinical next-generation sequencing (NGS) data. Additionally, is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of genetic disorders & mutations, increasing technological developments in sequencing technologies.
By workflow, sequencing was the highest revenue-grossing segment in the global next generation sequencing market in 2023 as these systems can deliver precise liquid volumes, a crucial aspect in NGS applications. The system also performs tasks like switching tubes and micro-liter plates, thus optimizing workflow. The benefit of employing a robotic liquid handling system is that it allows researchers to concentrate on data analysis rather than process management. Additionally, NGS data analysis is predicted to grow at fastest CAGR during the forecast period owing to the ready availability of genomic & proteomic data, increasing adoption of sequencing platforms for clinical diagnostics is driven by a substantial reduction in installation costs, and surge in partnerships within market players. For instance, in June 2023, Oxford Nanopore Technologies Plc, a company specializing in nanopore sequencing, has partnered with Geneyx, an AI platform, to introduce the One-Click Solution, a scalable software solution designed to enhance next-generation nanopore sequencing technology. This innovation will provide health centers, genetic labs, and hospitals with a streamlined solution for generating analytical data related to genome sequencing.
By end-user, academic research was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to surge in research projects on NGS solutions that are carried out in the universities & research centers, scholarships available for doctoral projects in Next-Generation Sequencing (NGS), and offering on-site bioinformatics courses that incorporate hands-on workshops for the practical application of NGS sequencing and data analysis. Additionally, clinical research is predicted to grow at fastest CAGR during the forecast period owing to the application of NGS in cancer research, particularly in the identification of novel cancer-associated genes, investigation of tumor diversity, & the detection of changes contributing to tumorigenesis and rising partnerships & collaborations within market players. For instance, in October 2022, PierianDx, a prominent player in clinical genomics technology, has announced a collaboration with P4 Diagnostix, a prominent network of physician-owned laboratories. These laboratories have expertise in women's health, urology, and gastroenterology, and the introduction of next-generation sequencing tests will enhance their routine diagnostic capabilities.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in number of clinical laboratories utilize NGS to offer genetic testing services, increasing R&D investment, the presence of a cutting-edge healthcare research infrastructure, rising advancement of whole genome sequencing (WGS), and growing collaborations within market players. For instance, in January 2022, A cooperative marketing agreement was established by BGI Americas Corporation, a division of BGI Genomics Co. Ltd., and Gencove, a genomic sequencing platform. This agreement included BGI’s next-generation sequencing services of DNBSEQ sequence technology along with Gencove’s analysis platform for the development of cost-efficient, and high-capacity genome information for a healthy and sustainable world. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the existence of notable advancements in the technological integration of NGS methods, growing research & development activities, surge in technological developments, and increasing launch of new products. For instance, in September 2022, Thermo Fisher Scientific received FDA approval for the Oncomine Dx Target Test as the first NGS-based companion diagnostic to aid in therapy selection for patients with RET Mutations/Fusions in thyroid cancers.
Oncology Screening
Sporadic Cancer
Inherited Cancer
Other Diagnostics
Aneuploidy
Rising introduction of technologically advanced next generation sequencing devices is predicted to boost the market growth during the forecast period. Next-generation sequencing (NGS) is a massively parallel sequencing technology known for its scalability, ultra-high throughput, and rapid pace in determining the nucleotide order across entire genomes. DNA pre-sequencing stands out as a pivotal stage in the sequencing process, involving the preparation of samples for the subsequent sequencing procedure. NGS is increasingly becoming an integral part of clinical laboratory analysis, testing, and disease diagnostics within the global healthcare sector. It has found widespread application in pharmacogenomics to expedite the drug discovery process. For instance, in June 2023, Thermo Fisher Scientific, Inc., a global leader in scientific solutions, has unveiled the Thermo Scientific Orbitrap Astral Mass Spectrometer, a cutting-edge instrument with high speed and resolution designed for the discovery of novel proteins and advancements in precision medicine. This spectrometer offers comprehensive, next-generation sequencing solutions for the analysis of proteomic data.
By product, consumables was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to the rising utilisation of NGS consumables for several diagnostic applications & cancer research, the participation of major companies in creating novel products, their emphasis on obtaining regulatory approvals, and their strategic efforts to guarantee a continuous supply of consumables capable of meeting the growing demand, and increasing launch of new products. For instance, in June 2022, PerkinElmer, Inc. has introduced three research-only sample preparation kits, namely the PG-Seq Rapid Kit v2, NEXTFLEX Small RNA-Seq Kit v4, and NEXTFLEX Rapid XP V2 DNA-Seq Kit. Additionally, platform is predicted to grow at fastest CAGR during the forecast period owing to the surge in technological advancements and growing introduction of cutting-edge platforms.
By application, oncology was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to the increasing incidence of cancer, which necessitates the utilization of advanced technology to enhance oncologists' comprehension of cancer and tumor cell mechanisms, and the utilization of NGS for tasks such as DNA and RNA sequencing, epigenetics, and the analysis of chromosomal abnormalities, contribute to more than three-quarters of the worldwide sequencing data, thus accounting for a significant market share. Additionally, consumer genomics is predicted to grow at fastest CAGR during the forecast period owing to the swift expansion in genealogy, paternity testing, & personal health awareness, surge in introduction of new platforms by the key players. For instance, in November 2022, DNASTAR, Inc., a worldwide bioinformatics software company, has released the Lasergene 17.4 software, featuring advanced functionality for conducting multiple next-generation sequencing alignments. Furthermore, this software includes various applications for sequence assembly and sequence editing.
By technology, targeted sequencing & resequencing was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to a substantial volume of whole genome data will need to be scrutinized at specific gene sites & for isolated genetic expressions, and increasing launch of advanced software. For instance, in March 2023, Illumina Inc., a prominent company in DNA sequencing and array-based technologies, has unveiled Connected Insights, a novel cloud-based software that facilitates tertiary analysis of clinical next-generation sequencing (NGS) data. Additionally, is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of genetic disorders & mutations, increasing technological developments in sequencing technologies.
By workflow, sequencing was the highest revenue-grossing segment in the global next generation sequencing market in 2023 as these systems can deliver precise liquid volumes, a crucial aspect in NGS applications. The system also performs tasks like switching tubes and micro-liter plates, thus optimizing workflow. The benefit of employing a robotic liquid handling system is that it allows researchers to concentrate on data analysis rather than process management. Additionally, NGS data analysis is predicted to grow at fastest CAGR during the forecast period owing to the ready availability of genomic & proteomic data, increasing adoption of sequencing platforms for clinical diagnostics is driven by a substantial reduction in installation costs, and surge in partnerships within market players. For instance, in June 2023, Oxford Nanopore Technologies Plc, a company specializing in nanopore sequencing, has partnered with Geneyx, an AI platform, to introduce the One-Click Solution, a scalable software solution designed to enhance next-generation nanopore sequencing technology. This innovation will provide health centers, genetic labs, and hospitals with a streamlined solution for generating analytical data related to genome sequencing.
By end-user, academic research was the highest revenue-grossing segment in the global next generation sequencing market in 2023 owing to surge in research projects on NGS solutions that are carried out in the universities & research centers, scholarships available for doctoral projects in Next-Generation Sequencing (NGS), and offering on-site bioinformatics courses that incorporate hands-on workshops for the practical application of NGS sequencing and data analysis. Additionally, clinical research is predicted to grow at fastest CAGR during the forecast period owing to the application of NGS in cancer research, particularly in the identification of novel cancer-associated genes, investigation of tumor diversity, & the detection of changes contributing to tumorigenesis and rising partnerships & collaborations within market players. For instance, in October 2022, PierianDx, a prominent player in clinical genomics technology, has announced a collaboration with P4 Diagnostix, a prominent network of physician-owned laboratories. These laboratories have expertise in women's health, urology, and gastroenterology, and the introduction of next-generation sequencing tests will enhance their routine diagnostic capabilities.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in number of clinical laboratories utilize NGS to offer genetic testing services, increasing R&D investment, the presence of a cutting-edge healthcare research infrastructure, rising advancement of whole genome sequencing (WGS), and growing collaborations within market players. For instance, in January 2022, A cooperative marketing agreement was established by BGI Americas Corporation, a division of BGI Genomics Co. Ltd., and Gencove, a genomic sequencing platform. This agreement included BGI’s next-generation sequencing services of DNBSEQ sequence technology along with Gencove’s analysis platform for the development of cost-efficient, and high-capacity genome information for a healthy and sustainable world. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the existence of notable advancements in the technological integration of NGS methods, growing research & development activities, surge in technological developments, and increasing launch of new products. For instance, in September 2022, Thermo Fisher Scientific received FDA approval for the Oncomine Dx Target Test as the first NGS-based companion diagnostic to aid in therapy selection for patients with RET Mutations/Fusions in thyroid cancers.
Segmentation: Next Generation Sequencing Market Report 2023 - 2034
Next Generation Sequencing Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Consumables
- Target Enrichment
- Sample Preparation
- Others
- Platform
- Data Analysis
- Sequencing
Next Generation Sequencing Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Whole Exome Sequencing
- Whole Genome Sequencing
- Targeted Sequencing & Resequencing
- RNA-based
- DNA-based
- Others
Next Generation Sequencing Market Analysis & Forecast by Workflow 2023 - 2034 (Revenue USD Bn)
- Sequencing
- NGS Data Analysis
- NGS Tertiary Data Analysis
- NGS Primary Data Analysis
- NGS Secondary Data Analysis
- Pre-Sequencing
- NGS Library Preparation Kits
- Automated Library Preparation
- Semi-automated Library Preparation
Next Generation Sequencing Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Metagenomics, Epidemiology & Drug Development
- HLA Typing/Immune System Monitoring
- Agrigenomics & Forensics
- Consumer Genomics
- Oncology
- Research Studies
- Diagnostics and Screening
Oncology Screening
Sporadic Cancer
Inherited Cancer
Other Diagnostics
- Clinical Investigation
- Non-Communicable/Other Diseases
- Inherited Diseases
- Infectious Diseases
- Idiopathic Diseases
- Reproductive Health
- Newborn Genetic Screening
- Single Gene Analysis
- PGT
- NIPT
Aneuploidy
Next Generation Sequencing Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals & Clinics
- Clinical Research
- Academic Research
- Pharma & Biotech Entities
- Others
Next Generation Sequencing Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Next Generation Sequencing Market: Product Estimates & Trend Analysis
8. Next Generation Sequencing Market: Technology Estimates & Trend Analysis
9. Next Generation Sequencing Market: Workflow Estimates & Trend Analysis
10. Next Generation Sequencing Market: Application Estimates & Trend Analysis
11. Next Generation Sequencing Market: Application Estimates & Trend Analysis
12. Regional Market Analysis
13. North America Next Generation Sequencing Market
14. Europe Global Next Generation Sequencing Market
15. Asia Pacific Global Next Generation Sequencing Market
16. Latin America Global Next Generation Sequencing Market
17. MEA Global Next Generation Sequencing Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
- Thermo Fisher Scientific Inc.
- F. Hoffman-La Roche Ltd.
- QIAGEN
- Bio-Rad Laboratories Inc.
- Illumina
- Perkin Elmer Inc.
- PierianDx
- BGI
- DNASTAR Inc.
- Genomatix GmbH
- Eurofins GATC Biotech GmbH
- Oxford Nanopore Technologies
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 8.47 Billion |
| Forecasted Market Value ( USD | $ 73.33 Billion |
| Compound Annual Growth Rate | 21.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
