Next Generation Sequencing Market was valued at USD 15.78 Billion in 2022 and is projected to reach USD 27.69 Billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030.
The growth trajectory of the NGS market is expected to continue from 2023 to 2033. However, the landscape is expected to shift as newer technologies emerge, and market dynamics evolve. Demand for NGS services is predicted to skyrocket as applications in genetic testing, drug discovery, and clinical diagnostics expand. The next decade will witness the mainstream adoption of NGS technologies in routine healthcare, as genetic screening for various diseases becomes more accessible and affordable.
On the other hand, the integration of Artificial Intelligence (AI) and machine learning into NGS platforms is expected to improve data interpretation and analysis, accelerating the adoption of precision medicine. With AI’s role in analyzing vast amounts of genomic data, the NGS market will see enhanced efficiency, accuracy, and speed in identifying genetic mutations, contributing to more personalized therapies.
Additionally, the growing interest in environmental genomics and the need for sustainable agriculture practices will drive demand for NGS technologies. Over the next ten years, there will likely be a sharp increase in the use of NGS in agriculture for improving crop yields, pest resistance, and environmental resilience. The advancements in biotechnology, along with the development of cost-effective sequencing methods, will support these growth areas. However, challenges such as regulatory hurdles and the need for high-skilled personnel may slow down market penetration in certain regions.
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The Next Generation Sequencing (NGS) market has seen significant growth between 2018 and 2022, with advancements in technology, applications in genomics, and the growing need for personalized medicine driving this boom. The demand for NGS technology increased as its capabilities expanded across several industries, including healthcare, agriculture, and environmental science. During this period, the global market saw investments pour in as NGS services became more affordable, and governments supported innovations in medical genomics and disease prevention.
With the rapid development of NGS platforms and the global push towards precision medicine, the market witnessed a surge in demand. The research, diagnostics, and therapeutics sectors benefited from improvements in sequencing accuracy, speed, and cost-effectiveness. In 2022, the global Next Generation Sequencing market was valued at billions of dollars, and experts forecast a compound annual growth rate (CAGR) of 20% for the next decade. This boom was partly fueled by technological advancements in data analysis tools, and the availability of bioinformatics solutions further revolutionized the market.
454 Life Sciences Corporation (A Roche Company)
Agilent Technologies
Biomatters
Ltd
CLC Bio
GATC biotech AG
Macrogen
BGI (Beijing Genomics Institute)
Illumina
Life Technology Corporation
EMC Corporation
Dnastar
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 Next Generation Sequencing Market
Whole-genome Sequencing
Exome Sequencing
Targeted Resequencing
De Novo Sequencing
RNA Sequencing
ChIP Sequencing
Methyl Sequencing
Others
Based on Types the Market is categorized into Below types that held the largest Next Generation Sequencing market share In 2023.
Targeted Sequencing & Resequencing
Whole Genome Sequencing
Whole Exome Sequencing
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 Next Generation Sequencing 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 Next Generation Sequencing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Next Generation Sequencing Market, By Type
6. Global Next Generation Sequencing Market, By Application
7. Global Next Generation Sequencing Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Next Generation Sequencing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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