Next-Generation Sequencing Market

The next-generation sequencing market is expected to grow from USD 14.94 billion in 2025 to USD 29.53 billion in 2030, at a CAGR of 14.6% over the forecast period.

The main factors behind the expansion of this market are increased government funding for sequencing projects, rising applications of NGS in chronic disorders, and growing applications of NGS in clinical diagnostics

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

The next-generation sequencing market is consolidated, with key players including Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), and Agilent Technologies, Inc. (US). These players have implemented organic and inorganic growth strategies to strengthen their positions in the next-generation sequencing market.

Steady advances in bioinformatics and data analytics are key drivers of the NGS market's growth. These tools facilitate the processing of sequencing data and the extraction of valuable insights. Concurrently, a broader range of applications is becoming accessible as sequencing costs decline. Personalized medicine and genome research are also gaining momentum, driven by growing government funding and initiatives. Demand for sequencing solutions is rising as population genomics and large-scale sequencing initiatives provide deeper insights into genetic diversity and disease risk. Additionally, AI- and ML-enabled workflows are increasing efficiency and accuracy, accelerating innovation

The global next-generation sequencing market is consolidated, with key 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 Biosciences (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).

Illumina, Inc. (US)

Illumina is the global market leader in the NGS segment, known for its sequencing platforms and its portfolio of consumables and services. Proprietary SBS technology remains the backbone of the company's dominance, enabling high accuracy, scalability, and cost-effectiveness across applications such as whole-genome sequencing, transcriptomics, and epigenetics. Illumina's platforms, including NovaSeq, NextSeq, MiSeq, iSeq, and the NovaSeq X-series, are optimized for a range of throughput levels, from modest research to expansive clinical and population genomics activities. Illumina also offers reagents, library preparation kits, and bioinformatics tools alongside instruments. Its leadership in clinical diagnostics, including oncology and genetic testing, is further supported by partnerships and regulatory approvals, making it a keystone of the NGS market.

Thermo Fisher Scientific Inc. (US)
Thermo Fisher Scientific Inc. is a key player in the NGS market. It provides a wide range of bioinformatics tools, reagents, and sequencing platforms. Its Ion Torrent technology, including the Ion GeneStudio S5 and Proton, is generally recognized for its speed and low cost, particularly for targeted sequencing used in cancer, infectious diseases, and genetic disorders. In addition, Thermo Fisher provides top-notch reagents for amplification, sequencing, and library preparation. These support end users in streamlining and optimizing end-to-end workflows for both clinical and research requirements. The business uses a combination of organic and inorganic strategies to drive growth. For instance, it introduced Stellar MS in June 2024 to advance translational omics research by combining speed and sensitivity.

Agilent Technologies, Inc. (US)

Agilent Technologies, Inc. is a major player in NGS, recognized for its innovations that support various steps throughout the sequencing workflow. The company provides premium reagents and sample prep kits, along with automation instruments that improve efficiency and consistency. Its flagship SureSelect and target enrichment platforms help design gene panels and exome workflows, enabling focused capture of regions of interest with strong performance. These solutions are widely used in oncology, rare disease research, and genetic testing. They also integrate well with leading sequencing platforms, making Agilent a go-to partner for labs focused on reliable genomics and precision medicine outputs. Agilent continues to invest in innovation through new launches, partnerships, and collaborations. For instance, in July 2023, it introduced NGS e software for BioTek detection instruments to support data analysis.

Market Ranking

The global next-generation sequencing market is highly competitive, with major players scaling growth through trusted chemistries, broad workflow coverage, strong automation links, and recurring consumables revenue. Illumina is a leading player, supported by its large installed base and wide adoption across research and clinical sequencing. This installed base drives repeat demand for sequencing reagents, flow cells, and related consumables. Thermo Fisher Scientific is a leading competitor with a strong presence in targeted sequencing and applied workflows. This is backed by integrated offerings that combine platforms, reagents, and informatics to support faster turnaround and streamlined operations. Agilent plays a critical role at the front end of the NGS workflow, with a strong position in sample preparation and target enrichment, both widely used across oncology, inherited disease, and translational research programs.

Related Reports:

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 2030

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com