Next Generation Sequencing Market To Reach $33.15 Billion By 2030

Next Generation Sequencing Market Growth & Trends

The global next generation sequencing market size was estimated at USD 33.15 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 21.7% 2024 to 2030. Next-generation Sequencing (NGS) is a parallel processing technique that can establish the sequence of nucleotides in a whole genome with scalability, ultra-high capacity, and fast speed. Furthermore, in the healthcare industry, NGS is gradually being incorporated into medical laboratory research, screening, and disease diagnoses. In personalized medicine, it has been frequently utilized to accelerate the drug research process.

Different potential sequencing methods such as RNA sequencing, whole-genome sequencing, and whole-exome and targeted sequencing amongst others are prominently used by researchers to get comprehensive sample analysis. When compared to the traditional Sanger sequencing technology, NGS is less expensive and provides higher throughput for DNA sequencing. The growing automation in the pre-sequencing protocols, post-sequencing protocols, and data analysis is also projected to have a positive impact on the NGS market. The utilization of novel platforms for the development of personalized medicine by medical analysis at a genetic level is also a significant factor, which is expected to enhance demand for NGS over the forecast period.

Besides, there are other significant growth trends that are being witnessed in the sequencing industry, such as the development of personalized medicine and companion diagnostics, growing advancements in cloud computing, and data integration. Furthermore, the easy availability of genomic and proteomic data has poised this market to exhibit potentially high-value avenues and opportunities for growth over the forecast period. The market growth is also being fueled by an increase in the global prevalence of cancer and the availability of sophisticated healthcare facilities. As per GLOBOCAN 2020, there have been 1,92,92,789 new cancer cases in 2020, with the number expected to rise to 2,88,87,940 by 2040. Such a substantial rise in the number of cancer cases is estimated to leverage cancer research which will eventually accelerate the NGS market growth.

The NGS diagnostic techniques have the potential to determine a virus's genomic sequence and aid scientists in their understanding of mutations. Furthermore, throughout the COVID-19 epidemic, governments across the globe have been collaborating with the corporate sector to introduce NGS technology to the market as a viable diagnostic tool. The US Food and Drug Administration granted Illumina Inc. a case of emergency use permit for the first COVID-19 diagnostic using the next-generation sequence technique in June 2020. The Illumina COVIDSeq Test for qualitative identification of SARS-CoV-2 RNA has been approved by the FDA. As a result, the usage of next-generation sequencing (NGS) technologies is projected to increase during the pandemic. 

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Next Generation Sequencing Market Report Highlights

• Food & Beverages segment accounted for more than 22.9% in 2022of the industrial type share due to the rising usage of Next Generation Sequencing in bakery and functional food products

• Industrial emerged as the largest type segment in 2022 and is estimated to generate revenue of over USD 11.42 billion by 2030

• Microorganisms emerged as the largest source segment in 2022 and are estimated to generate revenue over USD 17.47 billion by 2030

• North America is projected to witness the fastest growth rate of 6.6% from 2023 to 2030 due to the rising R&D activities across the developed countries coupled with the presence of numerous end-use application manufacturers in the pharmaceuticals, food & beverage, and personal care & cosmetics sector

• Pharmaceutical emerged as the largest specialty type segment with a revenue share of 40.6% in 2022, due to the increasing usage of the product in different applications including wound healing, diagnosing diseases, and killing disease-causing bacteria

Next Generation Sequencing Market Segmentation 

Grand View Research has segmented the global next generation sequencing market report based on technology, product, application, workflow, end-use, and region

Next Generation Sequencing Technology Outlook (Revenue, USD Million, 2018 - 2030)

• WGS

• Whole Exome Sequencing

• Targeted Sequencing & Resequencing

  • DNA-based

  • RNA-based

• Others

Next Generation Sequencing Product Outlook (Revenue, USD Million, 2018 - 2030)

• Platform

  • Sequencing

  • Data Analysis

• Consumables

  • Sample Preparation

  • Target Enrichment

  • Others

Application Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology

  • Diagnostics and Screening

    • Oncology Screening

      • Sporadic Cancer

      • Inherited Cancer

    • Companion Diagnostics

    • Other Diagnostics

  • Research Studies

• Clinical Investigation

  • Infectious Diseases

  • Inherited Diseases

  • Idiopathic Diseases

  • Non-Communicable/Other Diseases

• Reproductive Health

  • NIPT

    • Aneuploidy

    • Microdeletions

  • PGT

  • Newborn Genetic Screening

  • Single Gene Analysis

• HLA Typing/Immune System Monitoring

• Metagenomics, Epidemiology & Drug Development

• Agrigenomics & Forensics

• Consumer Genomics

Next Generation Sequencing Workflow Outlook (Revenue, USD Million, 2018 - 2030)

• Pre-Sequencing

  • NGS Library Preparation Kits

  • Semi-automated Library Preparation

  • Automated Library Preparation

• Sequencing

• NGS Data Analysis

  • NGS Primary Data Analysis

  • NGS Secondary Data Analysis

  • NGS Tertiary Data Analysis

Next Generation Sequencing End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Academic Research

• Clinical Research

• Hospitals & Clinics

• Pharma & Biotech Entities

• Other Users

Next Generation Sequencing Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Next Generation Sequencing Market

• Illumina

• F. Hoffman-La Roche Ltd.

• QIAGEN

• Thermo Fisher Scientific, Inc.

• Bio-Rad Laboratories, Inc.

• Oxford Nanopore Technologies

• PierianDx

• Genomatix GmbH

• DNASTAR, Inc.

• Perkin Elmer, Inc.

• Eurofins GATC Biotech GmbH

• BGI