Next-generation Sequencing Market to Record a CAGR of 14.9% Over 2025-2032; Growing Incorporation of Innovative Technologies to Impel Market Progress

The global next-generation sequencing market size was valued at USD 9.29 billion in 2024. The market is projected to grow from USD 10.44 billion in 2025 to USD 27.55 billion by 2032, exhibiting a CAGR of 14.9% during the forecast period.

Fortune Business Insights™ presents this information in its latest report titled “Next-generation Sequencing Market Size, Share & Industry Analysis, By Type (Products {Instruments & Consumables}, and Services), By Technology (Sequencing By Synthesis (SBS), Nanopore Sequencing, ION Semiconductor Sequencing, and Others), By Application (Research & Applied and Clinical {Cardiovascular, Oncology, Genetic Diseases, Reproductive Health, and Others}), By End-User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, and Others), and Regional Forecast, 2025-2032”.

The advent of Next-generation Sequencing (NGS) has ushered in a new era of genomic research characterized by unprecedented throughput, scalability, and velocity. This technological breakthrough has profoundly impacted the field of genomics, enabling researchers to undertake a diverse array of applications and delve into the intricacies of biological systems with unparalleled depth. In response to the escalating demand for efficient, rapid, and accurate DNA sequencing and data interpretation solutions, the NGS market has experienced exponential growth in recent years.

The COVID-19 pandemic had a favorable impact on the global market as this technology proved to be a valuable tool for diagnosing, monitoring, and conducting genomic studies of the SARS-CoV-2 virus.

OGT Opened its Cutting-edge Facilities within Oxford Technology Park to Expand its NGS Operations

OGT announced the inauguration of its cutting-edge facilities located at the Oxford Technology Park in February 2024, marking a significant expansion of its next-generation sequencing operations. This strategic move displays substantial investment, a result of mounting customer demand and consistent growth of the company.

Growing Incorporation of Innovative Technologies to Impel Market Progress

With the rising prevalence and acceptance of NGS technology, there has been a notable transition toward personalized healthcare. Additionally, the cost of genome sequencing has decreased in recent times, primarily due to the advancements in product offerings and introduction of new services by industry participants. The industry is experiencing heightened competition as established entities and emerging players are unveiling novel and inventive products. The escalating demand and competitive landscape are driving the introduction of innovative products and services to meet customer needs.

However, the next-generation sequencing market growth is restricted by factors, such as the scarcity of proficient personnel with the necessary expertise to operate advanced equipment in developing countries.

Key Market Players to Strengthen Their Product and Service Offerings to Expand Their Presence

The leading companies operating in this market are increasing their focus on undertaking various strategic initiatives, such as introducing innovative products, expanding their offerings through collaborations, partnerships, and expanding their global presence. They are also launching novel products in the market to gain a strong competitive edge and increase their customer base.

Notable Industry Development:

• November 2023: Element Biosciences, Inc. and QIAGEN entered a strategic partnership to offer comprehensive next-generation sequencing workflows for the AVITI System, thereby enhancing the efficiency and effectiveness of genetic analysis.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/next-generation-sequencing-ngs-market-101000

List of Key Companies Profiled in the Report:

• Illumina Inc. (U.S.)


• Thermo Fisher Scientific Inc. (U.S.)


• F. Hoffmann-La Roche Ltd. (Switzerland)


• QIAGEN (Germany)


• PacBio (U.S.)


• Oxford Nanopore Technologies (U.K.)


• Perkin Elmer, Inc. (U.S.)


• BGI (China)

Further Report Findings:

• North America captured the leading next-generation sequencing market share, recording a substantial revenue of USD 5.17 billion in 2024. The region is projected to sustain its dominance during the forecast period. This can be attributed to the robust research focus on genomics, significant investments in R&D, and established presence of prominent companies in the region.


• The market’s growth in Asia Pacific is driven by several factors, including government support, rising demand for genetic sequencing and testing in China, and advancements in bioinformatics tools utilized in genomic research. Furthermore, increasing research and development efforts for rare disease drug development, coupled with technological advancements in next-generation sequencing and companion diagnostics, are expected to propel the market’s growth in the region.


• Based on end-user, the pharmaceutical & biotechnology companies segment dominated the market share in 2024. This was primarily influenced by factors, such as a significant emphasis on utilizing next-generation sequencing in the drug discovery & development, launch of innovative products, and strategic research partnerships with industry peers, all contributing to the substantial growth of this segment.

Table of Segmentation