Next-Generation Sequencing Market Size Worth $43.42 Billion By 2032 | CAGR: 20.3%

The global next generation sequencing market size is expected to reach USD 43.42 billion by 2032, according to a new study by Polaris Market Research. The report “Next Generation Sequencing Market Share, Size, Trends, Industry Analysis Report, By Application (Drug Discovery/Personalized Medicine, Genetic Screening, Diagnostics/Infectious Diseases, Agricultural & Animal Research, Others); By Technology; By Product; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Next-generation sequencing is a highly parallelized sequencing that is 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.

The market is anticipated to grow owing to factors such as increased use in clinical diagnosis, improvements in speed, cost-effectiveness, and accuracy. Additionally, the improved efficiency over traditional technologies such as microarrays, combined with an increasing number of drug discovery applications, is expected to contribute to the growth of the market.

The next generation sequencing market is competitive and includes several major players, multinational corporations and smaller regional manufacturers. These companies engage in research and development activities to introduce innovative stent designs and materials that offer improved performance and patient outcomes.

Furthermore, the market is expected to grow as next generation sequencing (NGS) technologies become more widely used in clinical diagnostics. These technologies' quick response times and enhanced processing capabilities create a favorable environment for market growth.

Pediatrix Medical Group, GeneDx Inc., and OPKO Health, for instance, agreed to provide advanced next-generation gene sequencing in August 2020. The aim of this partnership is to enhance clinical diagnosis of rare disorders in intensive care units for newborns.

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The next-generation sequencing market also witnessed a rise in partnerships and acquisitions between sequencing technology companies and pharmaceutical or biotechnology firms. These collaborations aimed to use genomic data for drug discovery, development, and the realization of precision medicine initiatives. Also, cloud-based solutions for next-generation sequencing data storage and analysis were becoming more popular, allowing researchers to manage and analyze large-scale genomic data more efficiently. It corresponded to the growing emphasis on data management and bioinformatics solutions to deal with the massive amounts of data generated by next-generation sequencing platforms.

Next-Generation Sequencing Market Report Highlights

• The reagents & consumables segment held the largest revenue share in the next generation sequencing market due to an evolution in molecular genetics and an increase in demand for the products and kits which accomplish size selection, target enrichment, and DNA fragmentation.         
• The services segment witnessed for the fastest market growth during the forecast period, owing to the improvement in the technology which is based on the SMRT sequencing and an surge in the application of an cloud computing for NGS data storage.
• In 2022, North America accounted for the largest market share owing to the technological advancements in the sequencing platforms and surge in the applications of NGS in the region. Also, the active support from the government and surging prevalence of cancer will drive the growth of the market.
• Asia Pacific region witnessed for the fastest growth in the next generation sequencing market. Due to the increasing investments in the China and India on research and development of the next generation sequencing.
• The global key market players include BGI, Bio-Rad Laboratories, Inc., DNASTAR, Inc., Eurofins GATC Biotech GmbH, Genomatix GmbH, Oxford Nanopore Technologies, PerkinElmer, Inc., PierianDx, Qiagen, Roche Ltd., and Thermo Fisher Scientific Inc.

Polaris Market Research has segmented the next-generation sequencing market report based on application, technology, product, end-use, and region:

Next-Generation Sequencing, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Drug Discovery/Personalized Medicine
• Genetic Screening
• Diagnostics/Infectious Diseases
• Agricultural & Animal Research
• Others

Next-Generation Sequencing, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Whole Genome Sequencing
• Targeted Sequencing & Re-sequencing
• Whole Exome Sequencing
• RNA Sequencing
• Chip Sequencing
• De Novo Sequencing
• Methyl Sequencing

Next-Generation Sequencing, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Instruments
• Reagents & Consumables
• Services

Next-Generation Sequencing, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Healthcare Institutions
• Academics
• Biotech & Pharma Firms
• Others

Next-Generation Sequencing, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Next Generation Sequencing Market Report Scope