Next Generation Sequencing Market Size, Growth, Share & Trends Analysis

Report Code BT 2697
Published in Jan, 2025, By MarketsandMarkets™
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Next-Generation Sequencing Market by Product Type (Consumables, Platforms, Bioinformatics), Technology (SBS, Nanopore), Workflow (Sequencing, Data Analysis), Services, Application (Drug Discovery, Diagnostic, Agriculture) - Global Forecast to 2029

Next Generation Sequencing Market Size, Growth Drivers & Restraints

The global next-generation sequencing market, valued at US$12.13 billion in 2023, stood at US$12.65 billion in 2024 and is projected to advance at a resilient CAGR of 13.2% from 2024 to 2029, culminating in a forecasted valuation of US$23.55 billion by the end of the period. The primary growth drivers of the NGS market are the rising demand for precision medicine in identifying genetic mutations & biomarkers, which have enabled targeted therapies and advanced precision medicine initiatives globally. The declining cost of sequencing has broadened its adoption in large-scale projects and routine diagnostics.

Next-Generation Sequencing Market – Global Forecast and Key Opportunities to 2029

Attractive Opportunities in the Next-Generation Sequencing Market

Asia Pacific

The growth of the Asia Pacific NGS market is primarily due to the rising funding for Translational research bolstered by the region’s diverse population with unique genetic backgrounds and healthcare challenges.

Growth in this market is primarily driven by technological advancement in NGS sequencing.

Rising demand of healthcare testing to support clinical genomics is driving the demand of NGS market

High investments to develop advanced sequencing technologies restrain the market growth.

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The rising investments by governments in Translational research to drive growth.

Global Next-Generation Sequencing Market Dynamics

DRIVER: Advancement in sequencing platforms

Advances in the sequencing platform are highly driving NGS, making it much more efficient, accurate, and accessible with high throughput, which researchers have been able to sequence larger genomes and various samples in a single run compared to earlier times, thus reducing the cost and time. The sequencing chemistries, such as the improvement in fluorescent labeling and error correction mechanisms, have enhanced the accuracy and quality of data.

NGS has become a relatively accessible tool in smaller laboratories and clinics by way of development into automated compact systems, benchtop sequencers, as well. The workflow on platforms supports all applications that involve targeted sequencing, transcriptomics, and epigenetics and integrating advanced tools with bioinformatics that simplify analysis processes. Also, improvements in scalability allow users the chance to pick a platform that goes well with the size and budget of their project and spans from small-scale studies to large population genomics projects.

RESTRAINT: High initial capital investment

High initial capital investment is one of the significant restraints for the NGS market, limiting its adoption, especially in smaller labs, academic institutions, and emerging markets. The purchase price of advanced sequencing instruments ranges from hundreds of thousands to millions of dollars, which makes it a heavy financial burden. A setup of an NGS facility, for example, would need the infrastructure investments into data storage and high-performance computing systems and lab automation tools. Cost implications would therefore arise in continuous personnel training and equipment maintenance together with the constant procurement of consumables.

To these costs of high upfront and operationally, for many potential users, outsourcing sequencing services becomes a much practical option rather than investing in-house capabilities. This financial barrier slows down the adoption of NGS technology in less-funded research projects, small-scale clinical diagnostics, and resource-constrained regions, which restricts the overall market growth.

 

OPPORTUNITY: Increasing use of genomics in precision medicine

The adoption of long-read sequencing technologies presents significant opportunities in the NGS market by addressing critical challenges associated with short-read methods. Long-read platforms, such as those offered by Pacific Biosciences and Oxford Nanopore Technologies, enable the sequencing of longer DNA or RNA fragments, providing more comprehensive and accurate genome assemblies. This is especially useful in the analysis of complex genomic regions, such as structural variations, repetitive sequences, and phased haplotypes, which are challenging to resolve with short-read technologies. Applications like de novo genome assembly, full-length transcriptomics, and epigenetic studies have created an increased demand, which has led to the penetration of long-read technologies.

In addition, improvements in accuracy, throughput, and cost reductions are making these technologies increasingly available for further extensive research and more clinical use. The segment where researchers increasingly seek to complement short-read methods by long-read sequencing is thus a high-growth business within the NGS market.

CHALLENGES: Standardization Issues

Standardization issues pose a significant challenge in the NGS market, impacting the reproducibility, reliability, and scalability of sequencing workflows. The lack of uniform protocols for sample preparation, library construction, and data analysis leads to variability in results across different laboratories and platforms. This inconsistency can hinder the comparability of datasets and complicate multi-center studies or collaborative research projects. In clinical applications, the absence of standardized guidelines for test validation and regulatory compliance, particularly across different regions, creates hurdles for the widespread adoption of NGS-based diagnostics. Moreover, diverse bioinformatics tools and data formats further exacerbate the challenge, making it difficult to integrate and analyze data seamlessly.

Addressing these standardization issues is crucial to ensure high-quality results, foster trust in NGS technologies, and enable broader adoption across research and clinical domains.

Global Next-Generation Sequencing Market Ecosystem Analysis

Global Next-generation sequencing market Ecosystem Analysis includes technology developers, consumables suppliers, product & service providers, and end-users such as research institutions, clinical labs, hospitals, and biotechnology companies. Regulatory authorities and standards bodies also play pivotal roles, influencing market trends, innovation, and the ethical use of NGS data. Understanding this complex network is crucial for navigating and driving advancements in sequencing technologies.

Next-Generation Sequencing Market Ecosystem
 

The product segment accounted for the largest share by offerings segment in the next-generation sequencing market in 2023.

By offerings, the next-generation sequencing market is segmented into products and services. The next-generation sequencing market has the highest market share in products since it plays a critical role in the accomplishment of various research, diagnostic, and therapeutic applications. A huge demand for instruments, consumables, and reagents is generated due to the wide use of sequencing technologies. The importance of these tools is the main key in conducting sequencing analysis starting from sample preparation and moving up to data interpretation for wide applications. The rising interest in personalized medicine, cancer research, and disease diagnosis has steadily increased the demand for sequencing products. Genome-based tests for precision medicine require a robust pipeline of reliable products that will accurately and expeditiously identify genetic variations. In the research environment, advanced instruments and reagents are needed to study gene expression, epigenetic modifications, and genome-wide associations. Continuous advances in product innovation, like more efficient and cost-effective sequencing technologies, have only continued to expand the genomics user base across pharmaceutical companies, academic institutions, and healthcare providers. This should ensure that products remain at the heart of driving the next-generation sequencing market forward while offering cutting-edge research and clinical advancements.

The sequencing technology segment accounted for the largest share by platform technology segment in the next-generation sequencing market in 2023.

By platform technology, the NGS market is segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real time sequencing, nanopore sequencing, and other sequencing technologies. The sequencing accounted for the largest share of the market in 2023. Because of its low error rates and high-quality data characterize SBS technology, which makes it the go-to choice for critical applications like whole-genome and clinical sequencing. The widespread use of SBS in applications such as genomics, transcriptomics, epigenomics, and metagenomics expands its market penetration. It also supports both high-throughput sequencing for large-scale projects and smaller-scale applications, making it versatile for various research and clinical needs. Illumina's leadership in the NGS market, with its SBS-based systems, has played a major role in the adoption of this technology.

The cancer diagnostics segment accounted for the largest share of the diagnostic application segment in the next-generation sequencing market in 2023.

By diagnostic application, the next-generation sequencing market is segmented into cancer diagnostics, infectious disease diagnostics, reproductive health diagnostics, and other diagnostic applications. In 2023, the cancer diagnostics segment accounted for the largest share of the next-generation sequencing market. This can be attributed to the ability to rising prevalence of cancer types and increasing demand for their extensive genomic profiling. NGS is significant in cancer detection, diagnosis, and treatment due to the genetically driven nature of the disease. In effect, mutations and DNA changes cause the abnormal cell proliferation that constitutes cancer by definition. Genomics technologies, such as next-generation sequencing and other molecular diagnostic tools, have the potential to perform in-depth profiling of these kinds of mutations, and better and earlier detection of cancers. One of the leading factors for oncology dominating diagnostic use is precision medicine. It facilitates tumor genomic profiling, therefore targeting mutations for oncologists when treating individual patients by guiding oncologists to proper therapy targeted for the given patients. The results have greatly improved with such cancers like lung, breast, and colorectal cancer whose particular alterations can be matched against proper treatments. Technologies are increasingly employed in the monitoring of the therapeutic response and detection of minimal residual disease. A greater share in the diagnostic segment has come for oncology on account of rising worldwide burdens of cancer together with availability-based improvements of NGS-based tests; that promise transformational benefits of early detection, better prognosis, and optimum selection of therapy.

The North American Region Accounted for the Largest Share of the Next-Generation Sequencing Market in 2023.

The next-generation sequencing market is segmented into six major regions, namely, North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is the largest regional market for genomics in 2023, while Europe is the second-largest market. The large share of North America can be attributed to the growing acceptance and integration of WGS in healthcare, as well as the government initiatives and policies to integrate NGS in healthcare further supporting the market growth. Another factor that explains why North America has a gigantic share is the generous funding and support for genomics research coming from the government and private sectors. For example, the All of US Research Program is a large-scale program aimed at generating huge quantities of genomic data to improve healthcare outcomes and subsequently spur an increase in demand for sequencing technologies. In fact, many research institutes and universities in the United States and Canada have been highly involved in sequencing work that has accelerated innovations in cancer genomics, pharmacogenomics, and population genomics. Advanced healthcare infrastructure in North America has also helped advance sequencing technologies into the clinic. Growth has been fueled further by increased demand for personalized medicine, particularly in oncology, through an increased demand for NGS-based diagnostics and targeted therapy.

However, the Asia Pacific is estimated to be the fastest-growing segment of the market owing to the increasing application in clinical diagnostics, and the the growing focus on custom tailored medicine.

HIGHEST CAGR MARKET IN 2024
NORTH AMERICA FASTEST GROWING MARKET IN THE REGION FASTEST GROWING MARKET IN THE REGION
Next-Generation Sequencing Market Region

Recent Developments of Next-Generation Sequencing Market

  • In May 2024, Oxford Nanopore Technologies collaborated with Twist Bioscience to launch a new Pharmacogenomics Beta Programme. This long-read pharmacogenomics solution, available for research use, is designed to provide clear genetic results in a single end-to-end workflow from sample to pharmacogenomics star allele call.
  • In September 2023, PacBio announced a partnership with Hamilton, Integra, Revvity, and Tecan to create fully automated protocols to prepare samples for sequencing on Revio and Sequel II and IIe systems.

Key Market Players

KEY PLAYERS IN THE NEXT-GENERATION SEQUENCING MARKET INCLUDE

Scope of the Report

Report Metric Details
Market size available for years 2022-2029
Base Year Considered 2023
Forecast period 2024-2029
Forecast units Value (USD Million)
Segments covered Offerings, Product Type, Platform Technology, Product Workflow, Product End User, Service Type, Service Workflow, Service End User, Application
Geographies covered North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

Key Questions Addressed by the Report

What revenue strategies are market leaders using to dominate the Next-Generation Sequencing Industry by 2029?

Market leaders like Illumina and Roche are using bundled contracts that include reagents, software, and maintenance, turning instrument sales into long-term revenue streams. Thermo Fisher is expanding its reach through complete sequencing solutions using the Ion Torrent Genexus Dx platform. Companies are also forming partnerships, such as Illumina's collaboration with NVIDIA, to offer GPU-accelerated cloud analysis. By 2029, compact sequencers from Oxford Nanopore and Genapsys are expected to expand real-time and remote lab applications.

Which overlooked markets are emerging as high-ROI zones in the Next-Generation Sequencing Industry?

Latin America, Southeast Asia, and Africa are emerging as high-return markets. In Mexico, the OriGen project is sequencing over 10,000 genomes, making it attractive for local NGS investments. In March 2025, Illumina renewed its partnership with Africa CDC to equip national labs with NGS tools. In Southeast Asia, Gene Solutions partnered with Element Biosciences in April 2025 to bring cost-effective NIPT and oncology assays to Singapore and Vietnam.

How are fast-track approvals in North America driving early revenue for Next-Generation Sequencing players?

FDA fast-track programs have helped companies reduce approval times and generate revenue earlier. In October 2024, Thermo Fisher received FDA approval for the Oncomine Dx Target Test, quickly unlocking cartridge orders and contracts. Illumina’s TruSight Oncology panel was approved in August 2024 and also secured early Medicare coverage, helping the company capture initial sales sooner than expected.

What funding signal the next big shift in the Next-Generation Sequencing Market?

Recent investments are focusing on software, consumables, and hardware innovation. In May 2025, SeqOne Genomics raised USD 23.2 million to expand its AI-driven platform. In January 2025, Senseera secured USD 7.1 million for its liquid biopsy technology. In July 2024, Element Biosciences raised USD 277 million to support its high-throughput AVITI sequencer. These investments indicate a shift toward software development, non-invasive diagnostics, and next-generation instruments.

What key innovation gaps offer untapped revenue potential in the Next-Generation Sequencing Market?

The market still lacks standardized, cloud-based bioinformatics tools, which could generate strong subscription-based revenue. Fully automated, microfluidic sample-to-answer platforms are another gap that could drive premium consumables and service contracts. Long-read systems that lower sequencing costs are also in demand. Companies like Ultima Genomics and Standard Bio are working to address these areas.

How are go-to-market models evolving to win in Asia Pacific?

In the Asia Pacific region, companies are forming local partnerships to leverage regulatory and bioinformatics expertise. For instance, in March 2023, Qiagen collaborated with SOPHiA Genetics to combine reagents with analytics in India and Southeast Asia. Illumina introduced the NovaSeqX platform in Thailand in October 2022, reducing per-sample costs and encouraging adoption in cost-sensitive markets.

How are supply chain shifts affecting profitability in the Next-Generation Sequencing Market?

Regulatory actions and localization efforts are changing how companies manage their supply chains. In March 2025, China banned the import of Illumina sequencers, forcing the company to reduce costs by 100 million dollars and revise its earnings guidance. At the same time, companies like Thermo Fisher have localized production, with its May 2023 facility in Singapore reducing logistics costs and improving margins on consumables.

Which technologies are accelerating market access and scale in the Next-Generation Sequencing Market?

Sample-to-answer platforms are speeding up adoption by simplifying workflows. Thermo Fisher’s Genexus System completes sequencing and analysis in under 24 hours, helping smaller labs implement NGS. In May 2024, Illumina launched an AI-driven variant calling tool that reduced analysis time to two hours. BGI’s new hub in Singapore now serves over 5,000 institutes with scalable cloud computing resources.

What government programs are fueling growth in the Next-Generation Sequencing Market across Regions?

Several national programs are creating demand for NGS technologies. In India, the Genome India Project launched in January 2020 is sequencing 10,000 genomes and building lab infrastructure. China’s 2023 Clinical Sequencing Pilot Program allows early commercialization of various assays. The European Union’s GenAI4EU program, launched in May 2024 under Horizon Europe, is investing 818 million dollars in AI-driven bioinformatics through 2027.

How are competitors aligning products with buyer needs in Asia Pacific?

In Asia Pacific, companies are adapting to local needs by developing region-specific products. GeneLife, a Japanese company, partnered with Illumina to create direct-to-consumer kits and a wellness app focused on Asian genetic variants. In October 2022, Pacific Biosciences introduced the Revio and Onso platforms across the region, giving labs a range of affordable and scalable options tailored to varying budgets and throughput demands.

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Table of Contents

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TITLE
PAGE NO
1
INTRODUCTION
 
 
 
 
15
2
EXECUTIVE SUMMARY
 
 
 
 
 
3
PREMIUM INSIGHTS
 
 
 
 
 
4
MARKET OVERVIEW
Highlights the market structure, growth drivers, restraints, and near-term inflection points influencing performance.
 
 
 
 
 
 
4.1
INTRODUCTION
 
 
 
 
 
4.2
MARKET DYNAMICS
 
 
 
 
 
 
4.2.1
DRIVERS
 
 
 
 
 
4.2.2
RESTRAINTS
 
 
 
 
 
4.2.3
OPPORTUNITIES
 
 
 
 
 
4.2.4
CHALLENGES
 
 
 
 
4.3
UNMET NEEDS AND WHITE SPACES
 
 
 
 
 
4.4
INTERCONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES
 
 
 
 
 
4.5
STRATEGIC MOVES BY TIER-1/2/3 PLAYERS
 
 
 
 
5
INDUSTRY TRENDS
Outlines emerging trends, technology impact, and regulatory signals affecting growth trajectory and stakeholder decisions.
 
 
 
 
 
 
5.1
PORTER’S FIVE FORCES ANALYSIS
 
 
 
 
 
 
5.1.1
THREAT OF NEW ENTRANTS
 
 
 
 
 
5.1.2
THREAT OF SUBSTITUTES
 
 
 
 
 
5.1.3
BARGAINING POWER OF SUPPLIERS
 
 
 
 
 
5.1.4
BARGAINING POWER OF BUYERS
 
 
 
 
 
5.1.5
INTENSITY OF COMPETITION RIVALRY
 
 
 
 
5.2
MACROECONOMIC OUTLOOK
 
 
 
 
 
 
5.2.1
GDP TRENDS AND FORECAST
 
 
 
 
 
5.2.2
TRENDS IN NEXT-GENERATION SEQUENCING SERVICES MARKET
 
 
 
 
 
5.2.3
TRENDS IN HEALTHCARE/PHARMA INDUSTRY
 
 
 
 
5.3
VALUE CHAIN ANALYSIS
 
 
 
 
 
 
5.4
ECOSYSTEM ANALYSIS
 
 
 
 
 
 
 
5.4.1
EMERGING BUSINESS MODELS AND ECOSYSTEM SHIFTS
 
 
 
 
5.5
PRICING ANALYSIS
 
 
 
 
 
 
 
5.5.1
AVERAGE SELLING PRICE TREND OF NEXT-GENERATION SEQUENCING SERVICES, BY SERVICE, 2022-2024
 
 
 
 
 
5.5.2
AVERAGE SELLING PRICE TREND OF NEXT-GENERATION SEQUENCING SERVICES, BY REGION, 2022-2024
 
 
 
 
5.7
KEY CONFERENCES AND EVENTS, 2026–2027
 
 
 
 
 
5.8
TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
 
 
 
 
 
5.9
INVESTMENT AND FUNDING SCENARIO
 
 
 
 
 
 
5.9.1
VC/PRIVATE EQUITY INVESTMENT TRENDS & STARTUP LANDSCAPE
 
 
 
 
5.10
IMPACT OF 2025 US TARIFF ON NEXT-GENERATION SEQUENCING SERVICES MARKET
 
 
 
 
 
 
 
5.10.1
INTRODUCTION
 
 
 
 
 
5.10.2
KEY TARIFF RATES
 
 
 
 
 
5.10.3
PRICE IMPACT ANALYSIS
 
 
 
 
 
5.10.4
IMPACT ON REGION
 
 
 
 
 
 
5.10.4.1
NORTH AMERICA
 
 
 
 
 
5.10.4.2
EUROPE
 
 
 
 
 
5.10.4.3
ASIA PACIFIC
 
 
 
 
5.10.5
IMPACT ON END-USE INDUSTRIES
 
 
 
6
TECHNOLOGICAL ADVANCEMENTS, AI-DRIVEN IMPACT, PATENTS, INNOVATIONS, AND FUTURE APPLICATIONS
 
 
 
 
 
 
6.1
KEY EMERGING TECHNOLOGIES
 
 
 
 
 
 
6.1.1
NANOPORE SEQUENCING
 
 
 
 
 
6.1.2
SEQUENCING BY SYNTHESIS
 
 
 
 
 
6.1.3
ION SEMICONDUCTOR SEQUENCING
 
 
 
 
6.2
COMPLEMENTARY TECHNOLOGIES
 
 
 
 
 
 
6.2.1
AUTOMATED SAMPLE PREPARATION SYSTEM
 
 
 
 
 
6.2.2
BIOINFORMATICS AND DATA ANALYSIS PLATFORMS
 
 
 
 
 
6.2.3
MULTIPLEX PCR
 
 
 
 
 
6.2.4
CRISPR-BASED TARGETED SEQUENCING
 
 
 
 
6.3
ADJACENT TECHNOLOGIES
 
 
 
 
 
 
6.3.1
SINGLE-CELL SEQUENCING TECHNOLOGY
 
 
 
 
 
6.3.2
MULTI-OMICS INTEGRATION
 
 
 
 
 
6.3.2
SPATIAL GENOMICS AND TRANSCRIPTOMICS
 
 
 
 
 
6.3.2
GENE EDITING TECHNOLOGIES
 
 
 
 
6.4
TECHNOLOGY/SERVICE ROADMAP
 
 
 
 
 
6.5
PATENT ANALYSIS
 
 
 
 
 
 
6.6
FUTURE APPLICATIONS
 
 
 
 
 
6.7
IMPACT OF AI/GEN AI ON NEXT-GENERATION SEQUENCING SERVICES MARKET
 
 
 
 
 
 
 
6.7.1
TOP USE CASES AND MARKET POTENTIAL
 
 
 
 
 
6.7.2
CASE STUDIES OF AI IMPLEMENTATION IN NEXT-GENERATION SEQUENCING SERVICES MARKET
 
 
 
 
 
6.7.3
INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS
 
 
 
 
 
6.7.4
CLIENTS’ READINESS TO ADOPT GENERATIVE AI IN NEXT-GENERATION SEQUENCING SERVICES MARKET
 
 
 
7
SUSTAINABILITY AND REGULATORY LANDSCAPE
 
 
 
 
 
 
7.1
REGIONAL REGULATIONS AND COMPLIANCE
 
 
 
 
 
 
7.1.1
REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
 
 
 
 
 
7.1.2
INDUSTRY STANDARDS
 
 
 
 
7.2
SUSTAINABILITY IMPACT AND REGULATORY POLICY INITIATIVES
 
 
 
 
 
7.3
CERTIFICATIONS, LABELING, AND ECO-STANDARDS
 
 
 
 
8
CUSTOMER LANDSCAPE & BUYER BEHAVIOR
 
 
 
 
 
 
8.1
DECISION-MAKING PROCESS
 
 
 
 
 
8.2
BUYER STAKEHOLDERS AND BUYING EVALUATION CRITERIA
 
 
 
 
 
8.3
ADOPTION BARRIERS & INTERNAL CHALLENGES
 
 
 
 
 
8.4
UNMET NEEDS FROM VARIOUS END-USE INDUSTRIES
 
 
 
 
 
8.5
MARKET PROFITABILITY
 
 
 
 
9
NEXT-GENERATION SEQUENCING SERVICES MARKET, BY TYPE, (MARKET SIZE 2023 – 2030, FORECAST TO 2030 – IN VALUE, USD MILLION)
 
 
 
 
 
 
COMPARATIVE ASSESSMENT OF KEY SERVICE TYPES, THEIR MARKET POTENTIAL, AND REVENUE TRENDS
 
 
 
 
 
 
9.1
INTRODUCTION
 
 
 
 
 
9.2
SEQUENCING SERVICES
 
 
 
 
 
 
9.2.1
EXOME & TARGETED RESEQUENCING AND CUSTOM PANELS
 
 
 
 
 
9.2.2
RNA SEQUENCING
 
 
 
 
 
9.2.3
DE NOVO SEQUENCING
 
 
 
 
 
9.2.4
CHIP SEQUENCING
 
 
 
 
 
9.2.5
WHOLE GENOME SEQUENCING
 
 
 
 
 
9.2.6
METHYL SEQUENCING
 
 
 
 
 
9.2.7
OTHER SEQUENCING SERVICES
 
 
 
 
9.3
PRESEQUENCING SERVICES
 
 
 
 
 
 
9.3.1
LIBRARY PREPARATION & TARGET ENRICHMENT
 
 
 
 
 
9.3.2
SAMPLE PREPARATION
 
 
 
 
 
9.3.3
QUALITY CONTROL
 
 
 
 
9.4
BIOINFORMATICS & DATA ANALYSIS SERVICES
 
 
 
 
 
 
9.4.1
DATA ANALYSIS
 
 
 
 
 
9.4.2
DATA VISUALIZATION & INTERPRETATION
 
 
 
 
 
9.4.3
DATA STORAGE & MANAGEMENT
 
 
 
 
9.5
NGS PLATFORM SERVICES
 
 
 
 
10
NEXT-GENERATION SEQUENCING SERVICES MARKET, BY WORKFLOW, (MARKET SIZE 2023 – 2030, FORECAST TO 2030 – IN VALUE, USD MILLION)
 
 
 
 
 
 
WORKFLOW STEPS-WISE DEMAND POTENTIAL AND GROWTH PATHWAYS SHAPING NEXT-GENERATION SEQUENCING ADOPTION IN DIVERSE INDUSTRIES
 
 
 
 
 
 
10.1
INTRODUCTION
 
 
 
 
 
10.2
PRESEQUENCING
 
 
 
 
 
10.3
SEQUENCING
 
 
 
 
 
10.4
DATA ANALYSIS
 
 
 
 
11
NEXT-GENERATION SEQUENCING SERVICES MARKET, BY APPLICATION, (MARKET SIZE 2023 – 2030, FORECAST TO 2030 – IN VALUE, USD MILLION)
 
 
 
 
 
 
APPLICATION-WISE DEMAND POTENTIAL AND GROWTH PATHWAYS SHAPING NEXT-GENERATION SEQUENCING ADOPTION IN DIVERSE INDUSTRIES
 
 
 
 
 
 
11.1
INTRODUCTION
 
 
 
 
 
11.2
DIAGNOSTICS
 
 
 
 
 
11.3
DRUG DISCOVERY & DEVELOPMENT
 
 
 
 
 
11.4
AGRICULTURE & ANIMAL RESEARCH
 
 
 
 
 
11.5
OTHER APPLICATIONS
 
 
 
 
12
NEXT-GENERATION SEQUENCING SERVICES MARKET, BY END USER, 2023-2030 (USD MILLION)
 
 
 
 
 
 
SECTOR-SPECIFIC ADOPTION DRIVERS, DEMAND DYNAMICS AND MARKET POTENTIAL ACROSS EACH END-USE INDUSTRY
 
 
 
 
 
 
12.1
INTRODUCTION
 
 
 
 
 
12.2
ACADEMIC & RESEARCH INSTITUTES
 
 
 
 
 
12.3
PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES
 
 
 
 
 
12.4
HOSPITAL & CLINICAL LABORATORIES
 
 
 
 
 
12.5
OTHER END USERS
 
 
 
 
13
NEXT-GENERATION SEQUENCING SERVICES MARKET, BY COUNTRY, 2023-2030 (USD MILLION)
 
 
 
 
 
 
ASSESSMENT OF GROWTH PATTERNS, INDUSTRY FORCES, REGULATORY LANDSCAPE, AND MARKET POTENTIAL ACROSS KEY EUROPE REGION AND ITS COUNTRIES
 
 
 
 
 
 
13.1
INTRODUCTION
 
 
 
 
 
13.2
NORTH AMERICA
 
 
 
 
 
 
13.2.1
US
 
 
 
 
 
13.2.2
CANADA
 
 
 
 
 
13.2.3
MACROECONOMIC OUTLOOK OF NORTH AMERICA
 
 
 
 
13.3
EUROPE
 
 
 
 
 
 
13.3.1
GERMANY
 
 
 
 
 
13.3.2
UK
 
 
 
 
 
13.3.3
FRANCE
 
 
 
 
 
13.3.4
ITALY
 
 
 
 
 
13.3.5
SPAIN
 
 
 
 
 
13.3.6
REST OF EUROPE
 
 
 
 
 
13.3.7
MACROECONOMIC OUTLOOK OF EUROPE
 
 
 
 
13.4
ASIA PACIFIC
 
 
 
 
 
 
13.4.1
CHINA
 
 
 
 
 
13.4.2
JAPAN
 
 
 
 
 
13.4.3
INDIA
 
 
 
 
 
13.4.4
AUSTRALIA
 
 
 
 
 
13.4.5
SOUTH KOREA
 
 
 
 
 
13.4.6
REST OF ASIA PACIFIC
 
 
 
 
 
13.4.7
MACROECONOMIC OUTLOOK OF ASIA PACIFIC
 
 
 
 
13.5
LATIN AMERICA
 
 
 
 
 
 
13.5.1
BRAZIL
 
 
 
 
 
13.5.2
MEXICO
 
 
 
 
 
13.5.3
REST OF LATIN AMERICA
 
 
 
 
 
13.5.4
MACROECONOMIC OUTLOOK OF LATIN AMERICA
 
 
 
 
13.6
MIDDLE EAST
 
 
 
 
 
 
13.6.1
GCC COUNTRIES
 
 
 
 
 
 
13.6.1.1
UAE
 
 
 
 
 
13.6.1.2
KINGDOM OF SAUDI ARABIA
 
 
 
 
 
13.6.1.3
REST OF GCC COUNTRIES
 
 
 
 
13.6.2
REST OF MIDDLE EAST
 
 
 
 
 
13.6.3
MACROECONOMIC OUTLOOK OF MIDDLE EAST
 
 
 
 
13.7
AFRICA
 
 
 
 
 
 
13.7.1
MACROECONOMIC OUTLOOK OF AFRICA
 
 
 
14
COMPETITIVE LANDSCAPE
 
 
 
 
 
 
STRATEGIC ASSESSMENT OF LEADING PLAYERS, MARKET SHARE, REVENUE ANALYSIS, COMPANY POSITIONING, AND COMPETITIVE BENCHMARKS INFLUENCING MARKET POTENTIAL
 
 
 
 
 
 
 
14.1
OVERVIEW
 
 
 
 
 
14.2
KEY PLAYERS STRATEGY/ RIGHT TO WIN
 
 
 
 
 
14.3
REVENUE ANALYSIS, 2022-2024
 
 
 
 
 
 
14.4
MARKET SHARE ANALYSIS,
 
 
 
 
 
 
14.5
COMPANY EVALUATION MATRIX: KEY PLAYERS
 
 
 
 
 
 
 
14.5.1
STARS
 
 
 
 
 
14.5.2
EMERGING LEADERS
 
 
 
 
 
14.5.3
PERVASIVE PLAYERS
 
 
 
 
 
14.5.4
PARTICIPANTS
 
 
 
 
 
14.5.5
COMPANY FOOTPRINT: KEY PLAYERS,
 
 
 
 
 
 
14.5.5.1
COMPANY FOOTPRINT
 
 
 
 
 
14.5.5.2
REGION FOOTPRINT
 
 
 
 
 
14.5.5.3
TYPE FOOTPRINT
 
 
 
 
 
14.5.5.4
WORKFLOW FOOTPRINT
 
 
 
14.6
COMPANY EVALUATION MATRIX: STARTUPS/SMES,
 
 
 
 
 
 
 
14.6.1
PROGRESSIVE COMPANIES
 
 
 
 
 
14.6.2
RESPONSIVE COMPANIES
 
 
 
 
 
14.6.3
DYNAMIC COMPANIES
 
 
 
 
 
14.6.4
STARTING BLOCKS
 
 
 
 
 
14.6.5
COMPETITIVE BENCHMARKING: STARTUPS/SMES,
 
 
 
 
 
 
14.6.5.1
DETAILED LIST OF KEY STARTUPS/ SMES
 
 
 
 
 
14.6.5.2
COMPETITIVE BENCHMARKING OF KEY EMERGING PLAYERS/STARTUPS
 
 
 
14.7
BRAND/SERVICE COMPARISON
 
 
 
 
 
14.8
COMPANY VALUATION AND FINANCIAL METRICS
 
 
 
 
 
14.9
COMPETITIVE SCENARIO
 
 
 
 
 
 
14.9.1
SERVICE LAUNCHES
 
 
 
 
 
14.9.2
DEALS
 
 
 
 
 
14.9.3
OTHER DEVELOPMENTS
 
 
 
15
COMPANY PROFILES
 
 
 
 
 
 
15.1
KEY COMPANIES
 
 
 
 
 
 
15.1.1
ILLUMINA, INC.
 
 
 
 
 
15.1.2
THERMO FISHER SCIENTIFIC, INC.
 
 
 
 
 
15.1.3
QIAGEN
 
 
 
 
 
15.1.4
REVVITY
 
 
 
 
 
15.1.5
EUROFINS SCIENTIFIC
 
 
 
 
 
15.1.6
OXFORD NANOPORE TECHNOLOGY
 
 
 
 
 
15.1.7
BGI GROUP
 
 
 
 
 
15.1.8
BECTON, DICKINSON AND COMPANY (BD)
 
 
 
16
RESEARCH METHODOLOGY
 
 
 
 
 
 
16.1
RESEARCH DATA
 
 
 
 
 
 
16.1.1
SECONDARY DATA
 
 
 
 
 
 
16.1.1.1
KEY SOURCES OF SECONDARY DATA
 
 
 
 
 
16.1.1.2
KEY OBJECTIVES OF SECONDARY DATA
 
 
 
 
16.1.2
PRIMARY DATA
 
 
 
 
 
 
16.1.2.1
BREAKDOWN OF PRIMARIES
 
 
 
 
 
16.1.2.2
KEY OBJECTIVES OF PRIMARY RESEARCH
 
 
 
16.2
MARKET SIZE ESTIMATION
 
 
 
 
 
 
16.2.1
NEXT-GENERATION SEQUENCING SERVICES MARKET SIZE ESTIMATION
 
 
 
 
 
 
16.2.1.1
COMPANY REVENUE ANALYSIS (BOTTOM-UP APPROACH)
 
 
 
 
 
16.2.1.2
MNM REPOSITORY ANALYSIS
 
 
 
 
 
16.2.1.3
SECONDARY ANALYSIS
 
 
 
 
 
16.2.1.4
PRIMARY RESEARCH
 
 
 
 
 
 
16.2.1.4.1
INSIGHTS FROM PRIMARY EXPERTS
 
 
 
16.2.2
SEGMENTAL MARKET SIZE ESTIMATION (TOP-DOWN APPROACH)
 
 
 
 
16.3
MARKET GROWTH RATE PROJECTIONS
 
 
 
 
 
16.4
DATA TRIANGULATION
 
 
 
 
 
16.6
STUDY ASSUMPTIONS
 
 
 
 
 
16.7
RESEARCH LIMITATIONS AND RISK ASSESSMENT
 
 
 
 
17
APPENDIX
 
 
 
 
 
 
17.1
DISCUSSION GUIDE
 
 
 
 
 
17.2
KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
 
 
 
 
 
17.3
CUSTOMIZATION OPTIONS
 
 
 
 
 
17.4
RELATED REPORTS
 
 
 
 
 
17.5
AUTHOR DETAILS
 
 
 
 

 

This study on the next-generation sequencing market employed secondary sources, directories, and databases to gather pertinent information. To gather and validate important qualitative and quantitative data and evaluate market growth prospects, in-depth interviews were conducted with many primary respondents including key industry participants, subject-matter experts (SMEs), C-level executives from key market players, and industry consultants. After estimating the next-generation sequencing market using several research strategies, the size of the final market was obtained by triangulating data from primary research.

Secondary Research

The secondary sources referred to for this research study include publications from government sources. These include the Centers for Disease Control and Prevention (CDC), the US Food and Drug Administration (FDA), the World Health Organization (WHO), the American Cancer Society (ACS), the National Center for Biotechnology Information (NCBI), the National Institutes of Health (NIH), National Human Genome Research Institute (NHGRI), International Agency for Research on Cancer (IARC), National Institute for Infectious Diseases (IRCCS), Association for Clinical Genomic Science (ACGS), American Society of Human Genetics (ASHG), European Society of Human Genetics (ESHG), Asia Pacific Society of Human Genetics (APSHG), Nature Reviews Genetics, Nature Methods, Biotechnology and Biological Sciences Research Council (BBSRC), Organisation for Economic Co-operation and Development (OECD), Genome Research, National Cancer Institute (NCI), European Medicines Agency (EMA), Population Health Research Institute (PHRI), PubMed, World Bank, and the World Health Organization (WHO), among others. Secondary sources also included corporate & regulatory filings, such as annual reports, SEC filings, investor presentations, and financial statements; business magazines & research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global next-generation sequencing market, which was validated through primary research.

Primary Research

Extensive primary research was conducted after acquiring basic knowledge about the global next-generation sequencing market scenario through secondary research. Several primary interviews were conducted with market experts from the supply side, such as C-level and D-level executives, operational managers, marketing & sales managers of key manufacturers, distributors, and channel partners of companies providing NGS; experts from the demand side, such as personnel from academic & research institutes, hospitals, clinics and diagnostic labs, pharmaceutical & biopharmaceutical industries, CROs, and other end users. These interviews were conducted across six major regions, including North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa. Approximately 70% and 30% of the primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

The following is a breakdown of the primary respondents:

Next-Generation Sequencing Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the next-generation sequencing market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

Next-Generation Sequencing Market

Data Triangulation

To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Market Definition

NGS refers to non-Sanger-based, high-throughput DNA sequencing technologies. DNA strands can be sequenced simultaneously, yielding substantially more throughput and minimizing the need for fragment-cloning methods often used in the Sanger sequencing of genomes. NGS is fundamentally based on sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time (SMRT) sequencing, and nanopore sequencing.

Stakeholders

  • NGS instrument manufacturers, vendors, and distributors
  • NGS service providers
  • NGS bioinformatics/data analysis companies
  • Research laboratories and academic institutes
  • Venture capitalists and other government funding organizations
  • Research and consulting firms
  • Healthcare institutions (hospitals and diagnostic clinics)
  • Pharmaceutical and biotechnology companies
  • Academic and government research institutes
  • Life science companies

Report Objectives

  • To define, describe, and forecast the next-generation sequencing market based on offerings, product type, platform technology, product workflow, product end user, service type, service workflow, service end user, application, and region
  • To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
  • To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall next-generation sequencing market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to six main regions, namely, North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa
  • To profile the key players in the global next-generation sequencing market and comprehensively analyze their platforms, reagents, kits, consumables, and services portfolios, market positions, and core competencies
  • To track and analyze competitive developments such as product & service launches, expansions, agreements, and collaborations in the next-generation sequencing market
  • To benchmark players within the next-generation sequencing market using the ‘Company Evaluation Matrix' framework, which analyzes market players based on various parameters within the broad categories of business and service strategy

Previous Versions of this Report

Next generation Sequencing Market by Product & Service (Consumables, Platforms, Services, Bioinformatics), Technology (SBS, SMRT), Application (Diagnostic, Drug Discovery, Agriculture), End User (Pharma, Biotech, Academic) - Global Forecasts to 2026

Report Code BT 2697
Published in Jan, 2023, By MarketsandMarkets™

Next-generation Sequencing (NGS) Market by Product & Service (Consumables, Platforms, Services, Bioinformatics), Technology (SBS, SMRT), Application (Diagnostic, Drug Discovery, Agriculture), End User (Pharma, Biotech, Academic) - Global Forecast to 2026

Report Code BT 2697
Published in Apr, 2021, By MarketsandMarkets™

Next-Generation Sequencing (NGS) Market by Product (NovaSeq, NextSeq, Sequel, Nanopore), Consumables, Bioinformatics, Services (Exome, RNA), Technology (Ion, SMRT), Application (Diagnostics, Cancer), EndUser (Academia, Research) - Global Forecasts to 2024

Report Code BT 2697
Published in Nov, 2019, By MarketsandMarkets™

Next-Generation Sequencing (NGS) Market by Product (NovaSeq, NextSeq, Sequel, Nanopore), Consumables, Bioinformatics, Services (Exome, RNA, DeNovo), Technology (Ion, SMRT), Application (Diagnostics, Cancer), End User (Academia) - Global Forecasts to 2024

Report Code BT 2697
Published in Aug, 2018, By MarketsandMarkets™

Next-Generation Sequencing (NGS) Market by Product (Hiseq, Miseq, Hiseq X Ten/X Five, NextSeq500, Ion Proton, PGM, Ions5, PacBio RSII), Services (Targeted, RNA, Exome, De Novo), & Application (Diagnostics, Biomarker, Agriculture) - Global Forecasts to 2022

Report Code BT 2697
Published in Mar, 2017, By MarketsandMarkets™

Next-Generation Sequencing (NGS) Market by Platforms (HiSeq, MiSeq, HiSeq X Ten/X Five, Nextseq500, Ion Proton, PGM, IonS5, PacBio & Sequel), Services (Targeted Sequencing, De novo), & Application (Diagnostic, Drug Discovery) - Global Forecasts to 2021

Report Code BT 2697
Published in Mar, 2016, By MarketsandMarkets™

Next Generation Sequencing (NGS) Market by Platforms (Illumina HiSeq, MiSeq, HiSeqX Ten, NextSeq 500,Thermo Fisher Ion Proton/PGM), Bioinformatics (Exome Sequencing, RNA-Seq, ChIP-Seq), Technology (SBS, SMRT) & by Application (Diagnostics, Personalized Medicine) – Global Forecast to 2020

Report Code BT 2697
Published in Sep, 2014, By MarketsandMarkets™

Next Generation Sequencing (NGS) Market [Platforms (Illumina HiSeq, MiSeq, Life Technologies Ion Proton/PGM, 454 Roche), Bioinformatics (RNA-Seq, ChIP-Seq), (Pyrosequencing, SBS, SMRT), (Diagnostics, Personalized Medicine)] – Global Forecast to 2017

Report Code BT 2697
Published in Jun, 2013, By MarketsandMarkets™

Next Generation Sequencing (NGS) Market by Platforms (Illumina HiSeq, MiSeq, HiSeqX Ten, NextSeq 500,Thermo Fisher Ion Proton/PGM), Bioinformatics (Exome Sequencing, RNA-Seq, ChIP-Seq), Technology (SBS, SMRT) & by Application (Diagnostics, Personalized Medicine) – Global Forecast to 2020

Report Code BT 2697
Published in Jan, 2011, By MarketsandMarkets™
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