Next Generation Sequencing Market – By NGS Type , By Technology Type , By Application , By End User , By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

Next Generation Sequencing Market Overview

Next Generation Sequencing market size is forecast to reach US$30.4 billion by 2030, after growing at a CAGR of 17.3% during 2024-2030. Next-generation sequencing (NGS) is a technology used for DNA and RNA sequencing and variant/mutation detection. The sequence variants/mutations detected by NGS have been widely used for disease diagnosis, prognosis, therapeutic decision, and follow up of patients. The next generation sequencing market is driven by 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, governments initiatives towards genomic sequencing projects and increasing expenditure in R&D of pharmaceutical sector. A major trend in the market is the third-generation sequencing which represents the latest advancements in DNA sequencing, offering new approaches that overcome the limitations of previous generations. Compared to previous techniques, these technologies long-read sequencing capabilities allow for the sequencing of considerably larger DNA fragments. One example is PacBio Sequencing, which employs fluorescently tagged nucleotides in a single-molecule, real-time (SMRT) technique to enable long-read sequencing of DNA fragments up to tens of kilobases in length. Additionally, Oxford Nanopore sequencing, based on nanopore technology, where a single-stranded DNA molecule passes through a nanopore, and changes in electrical current are measured to determine the DNA sequence is another trend which is propelling the growth of market.

Next Generation Sequencing Market - Report Coverage:

Next Generation Sequencing Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Next Generation Sequencing Market.

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic had a positive impact on the Next Generation Sequencing (NGS) market. The pandemic catalyzed the integration of sequencing into healthcare systems. The effectiveness of sequencing-based diagnostic tests in controlling the pandemic highlighted its potential for broader applications.
• The Russia-Ukraine conflict impacted the Next Generation Sequencing market globally. The economic instability caused by the crisis impacted research funding and investment in NGS technologies. 

Key Takeaways

Consumables the Largest Segment

Consumables is the largest segment in the Next Generation Sequencing market, in terms of type. Consumables include necessary items including reagents, sample preparation kits, and other supplies needed for each sequencing run. Technological advancements in the next generation sequencing are driving the growth of consumables segment in NGS market globally. For instance, In June 2024, Illumina announced the full integration of its advanced XLEAP-SBS chemistry into all reagents for the NextSeq 1000 and NextSeq 2000 NGS instruments. This upgrade enhances sequencing quality, reduces run times by approximately 20%, and lowers costs per kit, making it more feasible for labs to undertake larger NGS projects and adopt multiomic approaches. Thus, technological advancements like the improved quality, faster run times, and lower cost per kit associated with chemistry will likely lead to increased adoption of NGS systems. This increased adoption will, in turn, driving demand for consumables like reagents, kits, and flow cells. 

Sequencing by Synthesis (SBS) the Largest Segment 

Sequencing by synthesis (SBS) is the largest segment in the Next Generation Sequencing market, in terms of technology type. The vast majority of the major NGS systems today are based on the concept of sequencing by synthesis (SBS) with sequential detection of nucleotide incorporation using an engineered DNA polymerase. Based on this strategy, various alternative platforms have been developed, including the use of either native nucleotides or reversible terminators and different strategies for the attachment of DNA to a solid support. For instance, In October 2024, PacBio announced the launch of SPRQ, an enhanced sequencing chemistry for its Revio long-read sequencing system. This new chemistry reduces the DNA input requirements by four times, down to 500ng per sample, enabling a broader range of sample types such as saliva and tumor samples, to be sequenced using HiFi sequencing technology. Additionally, SPRQ increases the Revio system’s output and, combined with improved analysis methods, lowers sequencing costs per genome by up to 50%. The system’s software enhancements also improve the accuracy of methylation calling and enable the detection of new methylation marks, offering customers a rich, multiomic view of each sample. Such applications and advancements are propelling the growth of Next Generation Sequencing market globally. 

North America Dominates the Market

The North America region dominates the Next Generation Sequencing market in 2023. Collaborations among pharmaceutical corporations, biotech companies and academic institutions are propelling the development and adoption of NGS technologies in this region. For instance, Acute Myeloid Leukemia (AML) is an aggressive cancer of the bone marrow and blood and is one of the most common types of leukemia. Because it can advance quickly with a five-year survival rate of only 30-40% for people under age 60, rapid detection and effective treatment are essential to improve patient outcomes. To help accelerate research into new treatments for Acute Myeloid Leukemia (AML) and Myelodysplastic Syndrome (MDS), in July 2024, Thermo Fisher Scientific Inc partnered with the National Cancer Institute (NCI) on the myeloMATCH (Molecular Analysis for Therapy Choice) precision medicine umbrella trial. By testing patients bone marrow and blood for certain genetic biomarkers using Thermo Fisher’s next-generation sequencing (NGS) technology, clinical sites can more quickly match patients with an appropriate clinical trial that tests a treatment designed to target specific mutations present in the samples. Such collaborations are driving the growth of Next Generation Sequencing market in this region.

Increasing applications of NGS in Diagnostics Boosts the Market

Increasing applications of next generation sequencing in diagnostics is driving the market globally. The human population is exposed to an increasing burden of infectious diseases caused by the emergence of new previously unrecognized viruses. Climate changes, globalization, settlements near animal and livestock habitats and the increased number of immunocompromised people probably contribute to the emergence and spread of new infections. In addition, several clinical syndromes are suspected to be of viral etiology but the causing agent cannot be isolated and recognized by traditional culture and molecular methods. Thus, there is the need to improve methods for the identification of unsuspected viral pathogens or new viruses. High throughput NGS techniques represent a powerful tool which can be applied to metagenomics-based strategies for the detection of unknown disease-associated viruses and for the discovery of novel human viruses. Thus, the increasing applications in diagnostics is fueling the growth of Next Generation Sequencing market globally. 

Data Storage and Sharing to Hamper the Market

One of the key challenges in the next generation sequencing market is data storage and sharing. The storage and exchange of NGS data present major financial, security, and accessibility challenges. As NGS data is vast and complex, high-capacity and high-performance storage devices are necessary. It can be costly and unsustainable to store NGS data, particularly for long-term backup and archiving. Concerns about ownership, consent, privacy, and other ethical, legal, and social factors may make it difficult to share NGS data. Data formats, platforms and repositories availability and compatibility might also restrict the sharing of NGS data. Therefore, it is critical to create and implement scalable, effective data encryption, compression and transport solutions. Additionally, encouraging and facilitating data exchange through uniform guidelines, regulations, and incentive is crucial. 

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Key Market Players

Global Next Generation Sequencing top 10 companies include: 

1. Illumina, Inc. 
2. Thermo Fisher Scientific Inc.
3. QIAGEN 
4. F. Hoffmann-La Roche Lt
5. PacBio. 
6. Oxford Nanopore Technologies plc.
7. PerkinElmer Inc. 
8. BGI Group 
9. Eurofins Scientific
10. Agilent Technologies, Inc.  

Scope of the Report: 

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