Global Next-Generation Sequencing (NGS) Market to Grow at 16.2% During 2024-2032, Bolstered by Widespread Adoption of Genome Mapping Programs

According to the latest report by IMARC Group, titled “Next-Generation Sequencing (NGS) Market Report by Sequencing Type (Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, CHIP Sequencing, De Novo Sequencing, Methyl Sequencing, and Others), Product Type (Instruments, Reagents and Consumables, Software and Services), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-Molecule Real-Time Sequencing, Nanopore Sequencing, and Others), Application (Biomarker and Cancer, Drug Discovery and Personalized Medicine, Genetic Screening, Diagnostics, Agriculture and Animal Research, and Others), End-User (Academic Institutes & Research Centers, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Others), and Region 2024-2032,” the global NGS market reached a value of US$ 20.1 Billion in 2023. Next-generation sequencing (NGS) refers to the technology used for determining the sequence of nucleotides in deoxyribonucleic acid (DNA) genomes. NGS studies the genetic variation in the samples of specific diseases or other biological phenomena. It is a cost-effective solution that enables the interrogation of multiple genes in a single sequencing run. As compared to traditional sequencing methods, NGS provides more accurate results with higher precision and speed. It also requires lower sample input, which facilitates research in personalized and genetic medicines, clinical diagnostics, and agriculture and animal studies.

Global Next-Generation Sequencing (NGS) Market Trends:

The increasing prevalence of chronic ailments and the widespread adoption of genome mapping programs to predict disease development are majorly driving the global NGS market growth. Additionally, rapid technological innovations in sequencers, such as the large-scale integration with cloud-computing systems for improved data management, are contributing to the market growth. The introduction of such products has prompted competitive players to invest in research and development (R&D) activities to develop efficient and portable NGS systems, which is further catalyzing the market growth. Moreover, rising expenditure in sequencing chemistry, molecular biology, and technical engineering is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 16.2% during 2024-2032.

Market Summary:

• Based on the sequencing type, the market has been segmented into whole genome sequencing, targeted resequencing, whole exome, RNA, CHIP, de novo, methyl sequencing, and others.
• On the basis of the product type, the market has been divided into instruments, reagents and consumables, and software and services.
• Based on the technology, the market has been classified into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and others.
• On the basis of the application, the market has been segregated into biomarker and cancer, drug discovery and personalized medicine, genetic screening, diagnostics, agriculture and animal research, and others.
• Based on the end user, the market has been segmented into academic institutes and research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and others.
• Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
• The competitive landscape of the industry has also been examined, with some of the key players being Agilent Technologies, Becton Dickinson and Company, 10x Genomics, BGI Group, Eurofins Scientific, F. Hoffmann-La Roche AG, Illumina Inc., Genewiz, Macrogen, Oxford Nanopore Technologies, Pacific Biosciences, PerkinElmer, Thermo Fisher Scientific, Qiagen N.V., GenapSys Inc., etc.

Report Scope:

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