Targeted Sequencing Services Market was valued at USD 3.4 Billion in 2022 and is projected to reach USD 7.2 Billion by 2030, growing at a CAGR of 10.1% from 2024 to 2030.
The demand for targeted sequencing services has been strongly correlated with rising healthcare expenditure and the increasing awareness about the benefits of personalized medicine. As more individuals and healthcare providers embrace NGS technologies, the scope of applications continues to widen. The integration of artificial intelligence (AI) and machine learning into sequencing processes has also enhanced the accuracy and speed of results, further expanding its utility across various scientific domains. Despite the market's robust growth, challenges such as high sequencing costs and the need for standardized protocols continue to present hurdles. However, the emergence of more affordable sequencing platforms and improved bioinformatics tools is expected to address these barriers in the coming years.
The outlook for the targeted sequencing services market from 2023 to 2033 shows a promising trajectory, with demand expected to accelerate as new genomic technologies emerge. Enhanced accessibility and affordability, along with increasing investments in healthcare infrastructure, are expected to drive further market expansion. The demand for sequencing services will likely increase as more healthcare systems worldwide recognize the potential of targeted sequencing in detecting genetic disorders and guiding treatment strategies. This trend will continue to evolve, thanks to the growing interest in genomic data and the subsequent development of more targeted, effective therapies. Additionally, the trend toward decentralized healthcare systems, particularly in developing regions, will increase the accessibility of genomic testing and sequencing services, leading to an expansion in global demand.
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The targeted sequencing services market has seen substantial growth between 2018 and 2022, driven by advancements in genomic research, personalized medicine, and diagnostics. During this period, the market was propelled by the increasing demand for next-generation sequencing (NGS) technologies, offering higher precision and faster results for a variety of applications, including cancer genomics, rare disease detection, and drug discovery. The global health shift towards personalized treatments has played a pivotal role in this market's evolution, as targeted sequencing services allow clinicians to identify mutations or variations in genes that could influence patient outcomes. With more healthcare providers adopting precision medicine approaches, the market experienced a surge in research and development, making significant strides in clinical diagnostics and therapeutic strategies.
Agilent Technologies
Azenta
BGI Group
Illumina
PerkinElmer
Thermo Fisher Scientific
Danaher
CD Genomics
Daicel Corporation
Takara Bio
Twist Bioscience
Psomagen
LGC Limited
Tecan Trading
PacBio
QIAGEN
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Targeted Sequencing Services Market
Academic and Research Institutions
Pharmaceutical and Biotech Companies
Diagnostic and Clinical Laboratories
Other
Based on Types the Market is categorized into Below types that held the largest Targeted Sequencing Services market share In 2023.
PCR Method
Probe Hybridization
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Targeted Sequencing Services Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Targeted Sequencing Services Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Targeted Sequencing Services Market, By Type
6. Global Targeted Sequencing Services Market, By Application
7. Global Targeted Sequencing Services Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Targeted Sequencing Services Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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