Dublin, March 04, 2025 (GLOBE NEWSWIRE) — The “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 2029” report has been added to ResearchAndMarkets.com’s offering.
The next-generation sequencing market is expected to reach USD 22.38 billion in 2029 from USD 13.28 billion in 2024, at a CAGR of 11.0% during the forecast period.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall NGS market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
The increasing adoption of NGS in areas like oncology, infectious diseases, reproductive health, metagenomics, and personalized medicine is a major growth driver. Moreover, improved bioinformatics tools for data analysis and interpretation are enhancing the usability of NGS, driving its widespread adoption.
The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the large scale of population genomics projects, and the rising demand for precision medicines is supporting the growth. Further, the rising prevalence of rare and genetic diseases is attributed to the aging population of countries such as Japan, and China. This is supporting the adoption of sequencing technologies in healthcare management and treatment driving the market growth.
The consumables segment accounted for the largest share by products segment in the NGS market in 2023
The NGS products market is divided into consumables, platforms, and bioinformatics tools. The consumables holds the largest share of the market in 2023. The consumables is the segment with the largest share in products. The consumables segment dominates the product type category of the NGS market. These include reagents, library preparation kits, sequencing flow cells, and sample preparation kits, which are consumed in large volumes across diverse applications.
The ongoing need for high-quality consumables ensures a steady demand, unlike instruments that represent one-time purchases. Additionally, the increasing adoption of targeted sequencing and custom panels drives the demand for specialized consumables tailored for specific research and clinical applications. The growing number of NGS users, coupled with advancements in sequencing chemistries, has further increased the reliance on consumables to optimize workflows and improve data quality.
The academic & research institutes segment accounted for the largest share by services end-user segment in the NGS market in 2023
The NGS services market is segmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & clinical laboratories, and other end users. The academic & research institutes are the segment with the largest share in the end-user segment in 2023.
The large share of academic & research institutes is due to these institutions benefit from substantial government and private funding for research projects, enabling significant investments in NGS products, including instruments and consumables. However, the pharmaceutical & biotechnological companies accounted for the second largest share in the segment.
The report provides insights on the following pointers:
- Analysis of key drivers (Advancements in sequencing platforms, Rising clinical applications of sequencing, Growing demand for precision medicine, Declining sequencing cost), restraints (Data analysis complexity, High initial capital investment), opportunities (Integration of AI and ML, adoption of long-read sequencing technologies, emphasis on multiomics integration), and challenges (Standardization issues) influencing the growth of the market.
- Product Development/Innovation: Detailed insights on newly launched products/services of the NGS market
- Market Development: Comprehensive information about lucrative markets – the report analyses the market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the genomics market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 714 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $13.28 Billion |
| Forecasted Market Value (USD) by 2029 | $22.38 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
Companies Featured
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Qiagen
- Revvity
- Eurofins Scientific
- Pacbio
- Oxford Nanopore Technologies PLC.
- Takara Bio Inc.
- Bgi Group
- Bd
- 10X Genomics
- Promega Corporation
- Lgc Limited
- Wuxi Biologics
- Tecan Trading AG
- Twist Biosciences
- Azenta US, Inc.
- Mgi Tech Co. Ltd.
- Novogene Co. Ltd.
- New England Biolabs
- Genscript
- Psomagen
- Zymo Research Corporation
- Hamilton Company
- Neogenomics Laboratories
- Fulgent Genetics
- Sd Biosensor, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/arcrf2
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- Next-Generation Sequencing Market
