Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Next-generation Sequencing (NGS) Market to Hit USD 22.38 Billion by 2029 with 11.0% CAGR | MarketsandMarkets™

This image opens in the lightbox

News provided by

MarketsandMarkets

28 Jan, 2025, 15:01 GMT

Share this article

Share toX

Share this article

Share toX

DELRAY BEACH, Fla., Jan. 28, 2025 /PRNewswire/ -- The next-generation sequencing market valued at US$ 13.92 billion in 2023, is forecasted to grow at a robust CAGR of 11.0%, reaching US$ 13.28 billion in 2024 and an impressive US$ 22.38 billion by 2029. The primary growth drivers of the next-generation sequencing market are the surge in the rising demand for precision medicine in identifying genetic mutations and biomarkers, enabling targeted therapies and advancing precision medicine initiatives globally. And the declining cost of sequencing has broadened its adoption in both large-scale projects and routine diagnostics.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=546

Browse in-depth TOC on "Next-generation Sequencing (NGS) Market"
620 - Tables
51 - Figures
570 - Pages

Based on Offerings, the market is divided into products and services segments. The products segment accounted for the largest share of the next-generation sequencing market in 2023. The large share of products in the NGS market is mainly attributed to the essential role played by consumables, instruments, and software in sequencing workflows. Consumables like reagents, library preparation kits, and sequencing flow cells are indispensable for each sequencing run, leading to consistent and recurring demand. However, the service segment accounted for the second-largest share in the market.

Based on Product Type, the NGS products market is divided into consumables, platforms, and bioinformatics tools. The consumables hold the largest share of the market in 2023. The large share of consumables due to their indispensable role in every sequencing workflow. These include reagents, library preparation kits, adapters, primers, and sequencing flow cells, which are required for sample preparation, amplification, and sequencing. Unlike instruments, which are a one-time investment, consumables are used repeatedly for each sequencing run, ensuring a steady and recurring demand.

Based on Platforms, By Technology, the market is segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real time sequencing, nanopore sequencing, and other sequencing technologies. The sequencing by synthesis segment accounted for the largest share of the next-generation sequencing market in 2023. The large share is attributed to its high accuracy, scalability, and cost-efficiency. Widely adopted in platforms from leading companies like Illumina, SBS enables the generation of massive amounts of high-quality data, making it the preferred choice for various applications, including whole-genome sequencing, targeted sequencing, and transcriptomics. However, the ion semiconductor sequencing segment accounted for the second largest share in the segment.

Based on Service Type, the market is segmented into sequencing services, presequencing services, bioinformatics and data analysis services, and services for NGS platforms. The sequencing services segment accounted for the largest share of the next-generation sequencing market in 2023. This can be attributed to the high demand from research institutions, clinical labs, and pharmaceutical companies that lack the infrastructure, expertise, or resources to perform sequencing in-house. Outsourcing to service providers allows these organizations to access advanced sequencing technologies without the need for substantial capital investment in equipment and consumables.

Based on Application, the next-generation sequencing market is segmented into drug discovery & development, diagnostics, agriculture and animal research, and other applications. In 2023, drug diagnostics applications accounted for the largest share it is mainly attributed to increased demand for sequencing-based research in cancer, and rare diseases. Also, demand for personalized therapeutics growing, and NGS-driven drug discovery continues to gain traction, solidifying its large share in the diagnostics application segment.

Based on services end users, the NGS services market is segmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & clinical laboratories, and other end users. In 2023, the academic & research laboratories segment accounted for the largest share of the next-generation sequencing market. The large share of academic and research institutes in the services end-user segment of the NGS market is due to their significant role in advancing genomic research and generating large-scale sequencing data. These institutes are key drivers of innovation in fields like cancer genomics, precision medicine, and evolutionary biology, requiring extensive sequencing services for exploratory and hypothesis-driven research.

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 NGS in 2023, while Europe is the second-largest market. The large share of North America can be attributed to the region's advanced healthcare infrastructure, significant investment in genomics research, and widespread adoption of precision medicine. The presence of key market players, such as Illumina and Thermo Fisher Scientific, further drives innovation and accessibility to advanced sequencing technologies in the region. However, the Asia Pacific is estimated to be the fastest-growing segment of the market owing to the presence of vast population where the sequencing initiative is being implemented to study genetic diversity and public health.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=546

The global next-generation sequencing market is consolidated including its key players are 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 powerful sequencing platforms and an exhaustive portfolio of consumables and services. Proprietary SBS technology remains the backbone behind the company's dominance, allowing for high accuracy, scalability, and cost-effectiveness for applications as diverse as whole-genome sequencing, transcriptomics, and epigenetics. Illumina's set of platforms NovaSeq, NextSeq, MiSeq, iSeq, as well as NovaSeq X-series, are optimized for a number of throughput possibilities, from modest research to expansive clinical and population genomics activities. Illumina also offers reagents, library preparation kits, and bioinformatics tools in addition to 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 one of the leading NGS companies with a wide variety of sequencing platforms, reagents, and bioinformatics solutions. Its Ion Torrent technology, for example, Ion GeneStudio S5 and Ion Proton, is known to be fast and economical, mainly in targeted sequencing applications such as oncology, infectious diseases, and inherited disorders. The portfolio of Thermo Fisher includes high-quality reagents for library preparation, amplification, and sequencing workflows, which are designed to streamline and optimize the NGS process. In addition, the company also focuses on ease of use with end-to-end solutions tailored for both research and clinical applications. The company implemented organic and inorganic growth strategies to support its business growth. For instance, in June 2024 company launched the Stellar MS, which combines speed and sensitivity to allow researchers to advance their translational omics research.

Agilent Technologies, Inc. (US)

Agilent Technologies, Inc. is an NGS major company, popular for its groundbreaking inventions in support of various stages in the sequencing workflow. The organization is specialized to offer high quality reagents and sample preparation kits with automation solutions to enhance efficiency and accuracy during an NGS experiment. Agilent's flagship SureSelect and target enrichment platforms offer tools for designing gene panels and exome sequencing toward precise and efficient capture of genomic regions of interest. These solutions are very useful in applications to oncology, rare disease research, and genetic testing. Its solutions are compatible with leading sequencing platforms, making Agilent an essential partner for researchers and clinicians that aim toward achieving reliable high-quality results in genomics and precision medicine. The company spends on innovation and implements strategies such as product launches, partnerships, and collaborations. For instance, In July 2023, the company launched new Gen6 software for BioTek detection instrument for data analysis.

For more information, Inquire Now!

Related Reports:

Single Cell Analysis Market

NGS Sample Preparation Market

Life Science Instrumentation Market

Genomics Market

Drug Discovery Services Market

Get access to the latest updates on Next-generation Sequencing (NGS) Companies and Next-generation Sequencing (NGS) Market Size

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg

Modal title

Also from this source

MarketsandMarkets' 360Quadrants Recognizes Top Startups and SMEs in the Industrial Fasteners Quadrant Report 2025

MarketsandMarkets' 360Quadrants Recognizes Top Startups and SMEs in the Industrial Fasteners Quadrant Report 2025

360Quadrants has released its latest Industrial Fasteners Startups/SMEs Companies Assessment, 2025, recognizing key players, including both global...

Clinical Decision Support Systems (CDSS) Market worth US$3.89 billion by 2030 with 9.6% CAGR | MarketsandMarkets™

Clinical Decision Support Systems (CDSS) Market worth US$3.89 billion by 2030 with 9.6% CAGR | MarketsandMarkets™

The global clinical decision support systems market , valued at US$2.25 billion in 2024, is forecasted to grow at a robust CAGR of 9.6%, reaching...

More Releases From This Source

Explore

Health Care & Hospitals

Health Care & Hospitals

Biotechnology

Biotechnology

Medical Pharmaceuticals

Medical Pharmaceuticals

Pharmaceuticals

Pharmaceuticals

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.