Next Generation Sequencing Market to Witness Promising Growth Opportunities by 2024-2035

The next generation sequencing market is anticipated to be worth USD 8.6 billion in the current year and this value is likely to reach USD 46.5 billion by 2035, expanding at a CAGR of 18.4% according to a new report by Roots Analysis.

Next-generation sequencing (NGS) is a novel sequencing technique used for whole genome sequencing to understand genetic variations associated with a wide range of diseases including rare diseases, cancers and genetic disorders. NGS technologies have shown their potential in sequencing an entire genome simultaneously in order to expedite the research efforts for diseases diagnosis at molecular level. In addition to disease diagnosis, next-generation sequencing technologies helps to identify biomarkers, design cell therapies and develop targeted therapies. Owing to these positive outcomes, governments and researchers are proactively engaged in utilization of next generation sequencing technologies for safe and effective treatment of a wide array of disorders. This has further resulted in increased research and development efforts by companies involved in the respective domain in order to advance and innovate their NGS technologies / platforms. Driven by the growing adoption of NGS techniques, the next generation sequencing market value is poised to experience a noteworthy increase during the forecast period.

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Key Report Takeaways

• ~95% of the next generation sequencing service providers offer whole genome sequencing services; of these, around 85% of the service providers offer additional services for bioinformatics
• The rising demand for NGS technologies has led to a notable increase in its application sectors, with around 25 technologies currently used for both whole genome sequencing and targeted sequencing
• Since 2020, more than 3,060 patents have been filed / granted focused on the research and development of next generation technologies / platforms across the globe
• In the recent years, a significant increase in the number of registered clinical trials has been observed in this domain; over 60% of the trials focused on next generation sequencing are currently in phase II
• The rising interest of big pharma players in the field of next generation sequencing is reflected by the wide array of initiatives established in the recent past; ~75% of the initiatives were focused collaborations with other players
• The next generation sequencing market is anticipated to grow at a CAGR of 18.4% till 2035; majority of the market share is likely to be occupied by North America, followed by Europe
• The market opportunity is projected to be well distributed across various segments, such as type of component, type of NGS technique, technology used, application area, target therapeutic area, purpose and end users.

Competitive Landscape of Next Generation Sequencing Market

The next generation sequencing market landscape features more than 90 next generation sequencing service providers, available across the world. Overall, the market landscape of next generation sequencing is well-fragmented, featuring the presence of small, mid-sized, large and very large players, which claim to have the required expertise for providing next generation sequencing services. It is interesting to highlight that majority of the next generation sequencing service providers are located in North America, followed by Asia-Pacific.

Next Generation Sequencing Market Regional Outlook

Based on the geographical regions, the next generation sequencing market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. North America is anticipated to capture the majority share of the next generation sequencing market in 2025. Further, the next generation sequencing industry in Asia-Pacific is accounted to be the fastest-growing segment of the market, with an annualized rate of more than 20%, during the forecast period.

Next Generation Sequencing Market Key Players

Examples of key companies engaged in the next generation sequencing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include:

• Admera Health
• Applied Biological Materials
• BGI Genomics
• CD Genomics
• DNA Link
• Eurofins Genomics
• Gene by Gene
• GENEWIZ
• MedGenome
• Novogene
• Psomagen

The next generation sequencing market report also includes detailed profiles of key players (listed below) that develop next generation sequencing technologies:

• Illumina
• MGI Tech
• Oxford Nanopore Technologies
• Pacific Biosciences
• Thermo Fisher Scientific

It is interesting to note that, in January 2025, Government of India in collaboration with Tata Memorial hospital started an initiative for the launch of Indian Genomic data set & IBDC portals to empower global research.

To get market data, market insights, financial statements and a comprehensive analysis of the Next Generation Sequencing Market, please contact sales@rootsanalysis.com

Next Generation Sequencing Market Segments

Based on the research, Roots Analysis has segmented the next generation sequencing market into type of component, type of NGS technique, type of technology used, application area, target therapeutic area, purpose, end users and geographical regions.