Global Next-Generation Sequencing (NGS) Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Product Type;

Instruments, Reagents & Consumables and Services.

By Sequencing Type;

Whole Genome Sequencing, Targeted Sequencing, Whole Exome Sequencing, RNA Sequencing, CHIP Sequencing, De Novo Sequencing and Methyl Sequencing.

By Application;

Drug Discovery/Personalized Medicine, Genetic Screening, Diagnostics/Infectious Diseases, Agriculture and Animal Research and Others.

By End User;

Hospitals & Clinics, Pharmaceutical and Biotechnology Companies, Academic Research Institutes and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn780806000 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Next-Generation Sequencing (NGS) Market (USD Million), 2020 - 2030

In the year 2023, the Global Next-Generation Sequencing (NGS) Market was valued at USD 8,143.63 million. The size of this market is expected to increase to USD 28,273.25 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 19.5%.

The global Next-Generation Sequencing (NGS) market has been experiencing significant growth over the past decade, driven by advancements in technology, declining costs, and the expanding applications of genomic sequencing. NGS, also known as high-throughput sequencing, allows for the rapid sequencing of millions of DNA molecules simultaneously, revolutionizing the field of genomics. This technology has found widespread adoption across various sectors, including healthcare, agriculture, biotechnology, and research.

One of the primary drivers of the NGS market's growth is its increasing use in clinical diagnostics. With the ability to sequence entire genomes quickly and cost-effectively, NGS has enabled personalized medicine, where treatments can be tailored to individual patients based on their genetic makeup. Additionally, NGS plays a crucial role in cancer genomics, infectious disease surveillance, and prenatal testing, among other clinical applications. As a result, healthcare providers are increasingly integrating NGS into their diagnostic workflows, fueling market expansion.

The adoption of NGS in research applications has been instrumental in advancing our understanding of genomics and molecular biology. Researchers leverage NGS to study genetic variations, gene expression profiles, epigenetic modifications, and microbial communities, among other genomic phenomena. The technology's scalability, speed, and affordability have democratized genomic research, allowing scientists worldwide to conduct large-scale sequencing projects and address diverse biological questions.

The NGS market is also driven by ongoing technological innovations aimed at enhancing sequencing accuracy, throughput, and data analysis capabilities. Companies are developing novel sequencing platforms, sample preparation kits, and bioinformatics tools to address the evolving needs of researchers and clinicians. Moreover, collaborations between academic institutions, industry players, and government agencies are fostering the development of new applications and expanding the utility of NGS across different domains. As a result, the global NGS market is poised for continued growth, with significant opportunities emerging in areas such as clinical diagnostics, agriculture, and precision medicine.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Sequencing Type
    3. Market Snapshot, By Application
    4. Market Snapshot, By End User
    5. Market Snapshot, By Region
  4. Global Next-Generation Sequencing (NGS) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Technological advancements
        2. Rising demand for personalized medicine
        3. Declining sequencing costs
        4. Growing applications in clinical diagnostics
      2. Restraints
        1. High initial investment
        2. Data storage and analysis challenges
        3. Regulatory hurdles
        4. Limited reimbursement policies
      3. Opportunities
        1. Expansion in emerging markets
        2. Increasing research collaborations
        3. Development of novel sequencing techniques
        4. Adoption of NGS in non-invasive prenatal testing
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Next-Generation Sequencing (NGS) Market, By Product Type, 2020 - 2030 (USD Million)
      1. Instruments
      2. Reagents & Consumables
      3. Services
    2. Global Next-Generation Sequencing (NGS) Market, By Sequencing Type, 2020 - 2030 (USD Million)
      1. Whole Genome Sequencing
      2. Targeted Sequencing
      3. Whole Exome Sequencing
      4. RNA Sequencing
      5. CHIP Sequencing
      6. De Novo Sequencing
      7. Methyl Sequencing
    3. Global Next-Generation Sequencing (NGS) Market, By Application, 2020 - 2030 (USD Million)
      1. Drug Discovery/Personalized Medicine
      2. Genetic Screening
      3. Diagnostics/Infectious Diseases
      4. Agriculture and Animal Research
      5. Others
    4. Global Next-Generation Sequencing (NGS) Market, By End User, 2020 - 2030 (USD Million)
      1. Hospitals & Clinics
      2. Pharmaceutical and Biotechnology Companies
      3. Academic Research Institutes
      4. Others
    5. Global Next-Generation Sequencing (NGS) Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Illumina, Inc
      2. Thermo Fisher Scientific Inc
      3. Oxford Nanopore Technologies Ltd
      4. Pacific Biosciences of California, Inc
      5. Qiagen N.V
      6. Agilent Technologies, Inc
      7. BGI Genomics
      8. Roche Holdings AG
      9. Bio-Rad Laboratories, Inc
      10. 10x Genomics, Inc
  7. Analyst Views
  8. Future Outlook of the Market