Next Generation Sequencing Market to reach $30.4 Billion by 2030; The rising incidence of chronic diseases and growing adoption of NGS in research and treatments, technological advancements in sequencing technologies, rising adoption of bioinformatics and genomic data solutions and governments initiatives towards genomic sequencing projects driving the demand for Next Generation Sequencing Market.

The Next Generation Sequencing Market size is estimated to reach $30.4 Billion by 2030, growing at a CAGR of 17.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “ Next Generation Sequencing - By NGS Type (Product, Services and Others), By Technology Type (Ion Semiconductor Sequencing (IOS), Pyrosequencing, Sequencing by Synthesis (SBS), Single-Molecule-Real-Time Sequencing (SMRT), Sequencing by Ligation (SBL) and Others), By Application (Diagnostics, Reproductive Health, Clinical Investigation, Research and Others), By End User (Academic & Research Institutes, Pharmaceutical & Biotechnological Companies, Diagnostic Centers & Healthcare Facilities , Contract Research Organizations and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”. 

The main driver of the Next Generation Sequencing market is rising demand of DNA and RNA sequencing and variant/mutation detection for various diseases. As Next-generation sequencing (NGS) is widely used for determining the sequence of DNA or RNA to study genetic variation associated with diseases or other biological phenomena. Additionally, the rising incidence of chronic diseases and growing adoption of NGS in research and treatments is propelling the market growth globally. 

North America accounted for the largest share of 17.3% of the Next Generation Sequencing Market in 2023. North America, particularly the United States, is a global leader in research and development, with significant investments flowing into genomics and related fields. For instance, In January 2024, Illumina Inc. announced a collaboration with Janssen Research & Development to develop its novel molecular residual disease (MRD) assay. This whole-genome sequencing (WGS) multi-cancer research solution detects circulating tumor DNA (ctDNA) to evaluate disease persistence or recurrence following treatment. MRD testing is emerging as a critical tool in oncology for monitoring disease recurrence and guiding precision therapies. Illumina's WGS MRD assay aims to provide a more sensitive, accurate, and efficient alternative to existing disease-monitoring tools, offering a cost-effective, automated workflow with a five to seven-day turnaround time. This research-focused tool will initially target multiple solid tumor indications. Such technological advancements are propelling the growth of Next Generation Sequencing Market in this region. 

Rising prevalence of chronic diseases globally is fueling the growth of Next Generation Sequencing market globally. In order to discover genetic variants that contribute to chronic diseases, next generation sequencing technology is essential. For instance, as of February 2024, an estimated 129 million people in the US have at least 1 major chronic disease (eg, heart disease, cancer, diabetes, obesity, hypertension) as defined by the US Department of Health and Human Services. Five of the top 10 leading causes of death in the US are, or are strongly associated with, preventable and treatable chronic diseases. Over the past 2 decades prevalence has increased steadily, and this trend is expected to continue. An increasing proportion of people in America are dealing with multiple chronic conditions; 42% have 2 or more, and 12% have at least 5. Besides the personal impact, chronic disease has a substantial effect on the US health care system. About 90% of the annual $4.1 trillion health care expenditure is attributed to managing and treating chronic diseases and mental health conditions. Personalized treatment plans can be created using NGS, which will enhance patient outcomes and lower medical expenses. 

Technological advancements in Next Generation Sequencing processes are fueling the growth of the market globally. A major change in genomics research has been driven by the development of NGS, which offers unparalleled capacity for high throughput and economic analysis of DNA and RNA molecules. NGS approaches enable the simultaneous parallel sequencing of millions to billions of DNA fragments, in contrast to conventional sanger sequencing, which has limitations in terms of speed and scalability. This innovative method has accelerated genomics research in many different domains. Rapid sequencing of millions of DNA fragments at once is made possible by NGS, providing deep insights into gene expression levels, genomic structure, genetic variants, and epigenetic changes. NGS systems versatility has expanded the field of genomics research by making it easier to study infectious diseases, cancer genomics, rare genetic diseases, microbiome studies, and population genetics.

Key companies profiled in the Next Generation Sequencing Market are Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, F. Hoffmann-La Roche Lt, PacBio., Oxford Nanopore Technologies plc., PerkinElmer Inc., BGI Group, Eurofins Scientific, Agilent Technologies, Inc. and Others.  

Single-cell Genome Sequencing Market - The Single-cell Genome Sequencing size is estimated to reach $9 billion by 2030, growing at a CAGR of 16.2% during the forecast period 2023-2030. Single-cell genome sequencing is one of the major areas of research for finding a cure for chronic ailments such as cancer.   

European NGS Services Market - The European NGS Services Market size is estimated to reach $1.86 billion by 2026, growing at a CAGR of 15.9% during the forecast period 2021-2026. Next-generation sequencing (NGS) is a massively parallel sequencing technology that helps to provide extremely high throughput, scalability, and speed. 

Infectious Disease Testing Market - Infectious Disease Testing Market size is estimated to reach $42.4 billion by 2027, growing at a CAGR of 6.6% during the forecast period 2022-2027. Infectious diseases can be demarcated as medical disorders which are erupted by bacteria and viruses.