The global next-generation sequencing (NGS) market is set for robust expansion, projected to grow from USD 14.94 billion in 2025 to USD 29.53 billion by 2030, registering a strong compound annual growth rate (CAGR) of 14.6% during the forecast period. The rapid adoption of NGS technologies in diagnostics, drug discovery, and agricultural genomics is fueling this significant market growth.
Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=546
The increasing demand for NGS-based diagnostics and personalized medicine is a key factor driving market expansion. Continuous advancements in sequencing platforms—enhancing speed, accuracy, and cost efficiency—are further accelerating adoption across both research and clinical settings. However, high initial capital investment required for establishing sequencing infrastructure remains a notable barrier to market growth.
According to the report, the market is segmented by product type, technology, workflow, services, applications, and end users, offering a comprehensive view of the evolving industry landscape.
Products Segment Leads Due to Recurring Consumables Demand
By offering, the NGS market is divided into products and services, with the products segment accounting for the largest market share in 2024. This dominance is primarily driven by consistent demand for consumables, which generate recurring revenue streams, along with the high cost of sequencing platforms that contribute significantly to overall product sales. Services continue to represent the second-largest segment, supported by outsourcing trends in sequencing workflows.
Sequencing by Synthesis Technology Maintains Market Dominance
Based on platform technology, sequencing by synthesis (SBS) held the largest share in 2024. Its widespread adoption across genomics, transcriptomics, epigenomics, and metagenomics applications has significantly strengthened its market position. Other technologies, including ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing, are also gaining traction, with ion semiconductor sequencing emerging as the second-largest segment.
Sequencing Services Segment Gains Momentum
Within the services segment, sequencing services accounted for the largest share in 2024. The growth is attributed to large-scale genomics initiatives led by governments and private organizations that rely on specialized service providers for high-throughput sequencing. Meanwhile, bioinformatics and data analysis services are witnessing strong growth, driven by the increasing complexity and volume of genomic data generated.
Diagnostics Application Dominates Market Share
By application, diagnostics emerged as the leading segment in 2024. The declining cost of sequencing has made NGS more accessible for routine clinical use, including applications in oncology, rare disease detection, and infectious disease diagnostics. Additionally, the expansion of population genomics programs and newborn screening initiatives is further boosting demand for NGS-based diagnostic solutions.
Academic & Research Institutes Lead End-User Segment
Academic and research institutes accounted for the largest share of the NGS market in 2024. Their strong adoption is driven by the flexibility of NGS workflows, which support a wide range of research applications. These institutions are also at the forefront of adopting emerging technologies such as single-cell sequencing and spatial transcriptomics, contributing to increased utilization of advanced sequencing platforms and consumables.
North America Leads, While Asia Pacific Emerges as Fastest-Growing Region
Regionally, North America dominated the NGS market in 2024, supported by well-established healthcare infrastructure, strong research funding, and early adoption of advanced genomic technologies. Europe followed as the second-largest regional market.
However, the Asia Pacific region is expected to register the highest growth rate during the forecast period. This growth is driven by expanding healthcare infrastructure, increasing investments in genomics research, large-scale population genomics initiatives, and rising collaborations between pharmaceutical and biotechnology companies for sequencing applications.
Request Sample Pages-https://www.marketsandmarkets.com/requestsampleNew.asp?id=546
Key Market Players
The competitive landscape of the NGS market features several prominent players, including Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), QIAGEN (Netherlands), Agilent Technologies, Inc. (US), Revvity (US), Eurofins Scientific (Luxembourg), PacBio (US), Oxford Nanopore Technologies plc. (UK), Takara Bio Inc. (Japan), BGI Group (China), Merck KGaA (Germany), BD (US), 10x Genomics (US), New England Biolabs (US), Promega Corporation (US), Novogene Co., Ltd. (China), LGC Limited (UK), WuXi Biologics (China), MGI Tech Co. Ltd. (China), Tecan Trading AG (Switzerland), Twist Bioscience (US), Azenta US, Inc. (US), GenScript (US), SD Biosensor, Inc. (South Korea), Fulgent Genetics (US), Hamilton Company (US), Zymo Research Corporation (US), NeoGenomics Laboratories (US), and Psomagen (US). These companies are actively focusing on innovation, strategic collaborations, and expanding their global footprint to strengthen their market positions.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com