Next Generation Sequencing (NGS) Market is a transformative technology that allows for the rapid sequencing of entire genomes or targeted DNA/RNA regions with high precision. It has revolutionized genomics research and is now widely adopted in areas such as personalized medicine, agricultural biotechnology, and infectious disease diagnostics. The global NGS market is valued at billions of dollars and is poised for robust growth due to its expanding applications in various industries.
Global Next Generation Sequencing Market size and share is currently valued at USD 9.90 Billion in 2024 and is anticipated to generate an estimated revenue of USD 43.42 Billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 20.3% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Market Growth Drivers
- Rising Prevalence of Genetic Disorders: Increasing awareness of genetic conditions has led to a surge in demand for genomic testing. NGS plays a pivotal role in diagnosing rare diseases and tailoring therapies for individuals.
- Technological Advancements: Continuous innovations in sequencing platforms, such as improved throughput and reduced costs, are encouraging the adoption of NGS technology.
- Expanding Applications: NGS is now integral in oncology, infectious disease detection, reproductive health, and agriculture, widening its market base.
Download Free Sample PDF Copy of the Report:
Key Companies in Next Generation Sequencing (Ngs) Market:
- BGI
- Bio-Rad Laboratories, Inc.
- DNASTAR, Inc.
- Eurofins GATC Biotech GmbH
- Genomatix GmbH
- Illumina Inc.
- Invitae Corporation
- Oxford Nanopore Technologies
- Perkin Elmer, Inc.
- PierianDx
- Qiagen
- Roche Ltd.
- Thermo Fisher Scientific Inc.
Challenges:
Despite its transformative potential, Next Generation Sequencing (NGS) faces several challenges. These include the high cost of sequencing platforms, the complexity of data analysis and storage, and issues related to data interpretation, particularly with large-scale genomic datasets. Additionally, there are concerns about the regulatory landscape and the standardization of NGS protocols across different applications and regions.
Future Outlook:
The future outlook for Next Generation Sequencing (NGS) is highly promising, with continued advancements in technology expected to lower costs and increase throughput. Emerging applications in personalized medicine, oncology, and non-invasive prenatal testing will drive further adoption. Additionally, innovations in data analysis through AI and cloud computing will enable faster and more accurate insights, making NGS even more integral to healthcare and research.
Research Scope
- Technological Developments: Evaluation of next-gen platforms like Illumina, PacBio, and Nanopore for performance and cost-effectiveness.
- Market Opportunities: Analysis of untapped regions and potential applications, such as microbiome research and epigenomics.
- Competitive Landscape: Comprehensive profiling of key players and their strategies, including product launches and collaborations.
Market Segmentation
Next Generation Sequencing Market, Application Outlook
- Drug Discovery/Personalized Medicine
- Genetic Screening
- Diagnostics/Infectious Diseases
- Agricultural & Animal Research
- Others
Next Generation Sequencing Market, Technology Outlook
- Whole Genome Sequencing
- Targeted Sequencing & Re-sequencing
- Whole Exome Sequencing
- RNA Sequencing
- Chip Sequencing
- De Novo Sequencing
- Methyl Sequencing
Next Generation Sequencing Market, Product Outlook
- Instruments
- Reagents & Consumables
- Services
Next Generation Sequencing Market, End Use Outlook
- Healthcare Institutions
- Academics
- Biotech & Pharma Firms
- Others
Industry Developments in Next-Generation Sequencing:
- March 2022: Thermo Fisher Scientific introduced the Ion Torrent Genexus Dx Integrated Sequencer, a CE-IVD-marked NGS platform. This fully automated system delivers results within a single day, streamlining diagnostic processes.
- February 2022: Invitae Corporation launched LiquidPlex Dx and FusionPlex Dx in Europe. These innovative tools enable genomic profiling and companion diagnostics for solid tumor neoplasms and are designed to work seamlessly with Illumina’s NGS platforms for in vitro diagnostic testing.
- February 2022: Agilent Technologies, Inc. partnered with Element Biosciences, Inc. to integrate Element Biosciences’ AVITI System with Agilent’s SureSelect target enrichment panels. This collaboration enhances access to advanced genomic tools for customers.
Next-generation sequencing is a highly parallelized process characterized by its ultra-high throughput, scalability, and fast rate in determining the sequence of nucleotides across the entire genome. DNA pre-sequencing is a crucial step in the general sequencing protocol because it involves preparing the material for the subsequent sequencing reaction.