Next Generation Sequencing Market

Global next generation sequencing market is estimated to be valued at USD 16.51 Bn in 2024 and is expected to exhibit a CAGR of 14.5% during the forecast period (2024-2031). Next Generation Sequencing (NGS) refers to the high-throughput DNA sequencing technologies that have substantially decreased the cost and increased the speed and throughput of DNA sequencing as compared to the first-generation Sanger sequencing. NGS allows researchers to sequence entire genomes, as well as to analyze the patterns of gene activity or expression on a large scale. Since its discovery in 2005, there have been tremendous improvements in NGS platforms which has enabled the sequencing of thousands to millions of DNA fragments in a single run. This massively parallel sequencing has revolutionized biological and biomedical research by allowing comprehensive characterization and discovery in genomic research. NGS finds applications across various fields including genetics, oncology, pharmacogenomics and personalized medicine.

Market Dynamics:

The global next generation sequencing market growth is driven by growing applications of genomics and precision medicine across various diseases. Rising prevalence of cancer and growing focus on pharmacogenomics is fueling the demand for NGS platforms in clinical diagnosis and monitoring. Growing genomics research activities, coupled with continuous decline in sequencing costs and introduction of portable and user-friendly sequencing instruments is also boosting the market growth. However, data management and analysis issues due to the massive amount of data generated from NGS, and limited bioinformatics knowledge remains a challenge. Meanwhile, developments in single-cell applications and cloud-based solutions for NGS data management presents lucrative growth opportunities.

Key Features of the Study:

• This report provides in-depth analysis of the global next generation sequencing market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global next generation sequencing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study includes Thermo Fisher Scientific Inc., Agilent Technologies Inc, bioMérieux SA, F. Hoffmann-La Roche Ltd, QIAGEN, Illumina Inc., Oxford Nanopore Technologies plc., BGI, PerkinElmer Genomics, Bio-Rad Laboratories Inc., Pacific Biosciences, 10x Genomics, Promega Corporation, Macrogen Inc., Eurofins Scientific, DNASTAR Inc., and CD Genomics.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global next generation sequencing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global next generation sequencing market.

Market Segmentation

• Product Type:
  • Instruments
  • Reagents & Consumables
• Sequencing Type:
  • Whole Genome Sequencing
  • Whole Exome Sequencing
  • RNA Sequencing
  • Targeted Re-sequencing
  • Others
• Application:
  • Drug Discovery
  • Personalized Medicine
  • Genetic Screening
  • Diagnostics
  • Others
• End User:
  • Hospitals & Clinics
  • Academic & Research Institutes
  • Biopharmaceutical Companies
  • Clinical Laboratories
  • Others
• Regional:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Thermo Fisher Scientific Inc.
  • Agilent Technologies Inc
  • bioMérieux SA
  • Hoffmann-La Roche Ltd
  • QIAGEN
  • Illumina Inc.
  • Oxford Nanopore Technologies plc.
  • BGI
  • PerkinElmer Genomics
  • Bio-Rad Laboratories Inc.
  • Pacific Biosciences
  • 10x Genomics
  • Promega Corporation
  • Macrogen Inc.
  • Eurofins Scientific
  • DNASTAR Inc.
  • CD Genomics