The global next-generation sequencing market is anticipated to witness substantial growth, with a projected value of USD 33.37 billion by the year 2030. According to recent market analysis, the market size for next-generation sequencing was estimated at USD 6.8 billion in 2022, indicating a remarkable upward trajectory with a Compound Annual Growth Rate (CAGR) of 22% during the forecast period from 2023 to 2030.
Next-generation sequencing technologies have revolutionized genomic research and clinical diagnostics, enabling high-throughput DNA and RNA sequencing with unprecedented speed, accuracy, and cost-effectiveness. Key factors driving the growth of the next-generation sequencing market include:
Advancements in Sequencing Technologies: Continuous advancements in next-generation sequencing platforms, including improvements in sequencing chemistry, instrument throughput, read length, and data analysis algorithms, are driving adoption across diverse research and clinical applications.
Rising Demand for Precision Medicine: The growing demand for precision medicine approaches, personalized therapies, and genomic profiling in oncology, rare diseases, infectious diseases, and pharmacogenomics is driving the adoption of next-generation sequencing for comprehensive genomic analysis and precision diagnostics.
Expansion of Genomic Research Initiatives: Increasing investments in genomic research initiatives, large-scale sequencing projects, and population genomics studies by academic institutions, government agencies, and pharmaceutical companies are fueling market growth and driving innovation in NGS technologies and applications.
Clinical Adoption of NGS in Healthcare: The expanding clinical utility of next-generation sequencing in healthcare settings, including molecular diagnostics, prenatal screening, newborn screening, cancer genomics, and infectious disease surveillance, is driving market growth and adoption by healthcare providers and clinical laboratories.
Rapid Reduction in Sequencing Costs: The rapid reduction in sequencing costs, driven by advancements in sequencing technology, economies of scale, and competition among sequencing service providers, is democratizing access to genomic sequencing and expanding market opportunities across diverse end-user segments.
Integration of NGS with Multi-Omics Approaches: The integration of next-generation sequencing with other omics technologies, including transcriptomics, epigenomics, and metagenomics, is enabling comprehensive multi-omics analysis of biological systems, driving demand for NGS platforms and bioinformatics solutions in multi-disciplinary research.
KEY MARKET SEGMENTATION
By Product
- Consumables
- Sample Preparation
- Target Enrichment
- Others
- Platforms
- Sequencing
- Data Analysis
By Technology
- WGS
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
- DNA-based
- RNA-based
By Workflow
- Pre-Sequencing
- NGS Library Preparation Kits
- Semi-automated Library Preparation
- Automated Library Preparation
- Sequencing
- NGS Data Analysis
- NGS Primary Data Analysis
- NGS Secondary Data Analysis
- NGS Tertiary Data Analysis
By Application
- Oncology
- Diagnostics and Screening
- Oncology Screening
- Sporadic Cancer
- Inherited Cancer
- Companion Diagnostics
- Other Diagnostics
- Oncology Screening
- Research Studies
- Diagnostics and Screening
- Clinical Investigation
- Infectious Diseases
- Inherited Diseases
- Idiopathic Diseases
- Non-Communicable/Other Diseases
- ReProduct & Serviceive Health
- NIPT
- Aneuploidy
- Microdeletions
- PGT
- Single Gene Analysis
- Newborn Genetic Screening
- NIPT
- HLA Typing/Immune System Monitoring
- Metagenomics
- Epidemiology & Drug Development
- Agrigenomics & Forensics
- Consumer Genomics
By End User
- Academic Research
- Clinical Research, Hospitals & Clinics
- Pharma & Biotech Entities
- Other Users
The major key players are Oxford Nanopore Technologies, PierianDx, Genomatix GmbH, DNASTAR, Inc., Perkin Elmer, Inc., Eurofins GATC Biotech GmbH, BGI, Illumina, F. Hoffman-La Roche Ltd., QIAGEN, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc. and Others.
As the global healthcare community continues to leverage the power of genomic sequencing for precision medicine, disease research, and population health initiatives, the next-generation sequencing market is expected to witness sustained growth, driven by technological innovation, clinical adoption, and expanding applications across diverse healthcare and life sciences domains.
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