NGS technologies are changing the way we diagnose diseases and conduct research by enabling the simultaneous sequencing of complete genomes, providing unprecedented molecular insights. The increasing prevalence of chronic diseases, as reported by the Centers for Disease Control and Prevention, emphasizes the critical need for sophisticated diagnostic techniques such as NGS.
According to Roots Analysis, the worldwide Next Generation Sequencing (NGS) market is primed for explosive growth, with estimates ranging from USD 7.7 billion in 2024 to USD 46.5 billion by 2035. This massive rise reflects a compound annual growth rate (CAGR) of 18.4%. The rising prevalence of chronic diseases, rapid technological advancements, and increased use of NGS in clinical and research settings are all driving factors for this surge.
The NGS landscape is thoroughly examined in a recent market research report, “Next Generation Sequencing Market (2nd Edition): Industry Trends and Global Forecasts, Till 2035,” which covers a wide range of topics, including technological platforms, patent analysis, clinical trials, industry trends, service providers, and overall market impact.
“The ability of NGS to analyze diseases at the molecular level, design cell therapies, identify biomarkers, and develop targeted treatments is fueling its rapid adoption,” explained a lead analyst from the report. “While the initial uptake faced hurdles due to high costs and infrastructure demands, the trend of outsourcing services and ongoing technological improvements are helping to overcome these challenges.”
The report also points out that the consumables segment currently leads the market, holding 67% of the total share, largely due to the increasing demand in research applications. However, the whole genome sequencing/whole exome sequencing segment is anticipated to experience an even higher growth rate, with a CAGR of 19.5% projected through 2035.
Key market segments analyzed include:
- Type of Component: Consumables, Services, Instruments
- NGS Technique: Targeted Sequencing, Whole Genome Sequencing/Whole Exome Sequencing, RNA Sequencing
- Technology Used: Sequencing by Synthesis, Ion Semiconductor, Nanopore Sequencing
- Application Area: Clinical, Research and Applied
- Target Therapeutic Area: Oncological, Genetic, Reproductive Disorders
- End Users: Academic and Research Institutes, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies
- Geographical Regions: North America, Europe, Asia-Pacific, Middle East and North Africa, Latin America
North America currently holds the largest market share (51%), driven by advanced healthcare infrastructure and strong technology manufacturers. However, the Asia-Pacific region is expected to witness the fastest growth, with a CAGR of 20.6%, fueled by increasing government support and rising healthcare expenditures.
The study also identifies important market drivers, such as ongoing technological improvements, rising prevalence of genetic and oncological abnormalities, and a growing emphasis on non-invasive prenatal testing. Emerging opportunities include the creation of portable sequencing technology and the integration of NGS with bioinformatics tools.
The paper profiles several notable companies, including Illumina, Thermo Fisher Scientific, Pacific Biosciences, Oxford Nanopore Technologies, BGI Genomics, and MedGenome.
“The ongoing research and innovation in NGS technologies are paving the way for significant advancements in personalized medicine and disease management,” the statistician said. “The market is poised for substantial growth, driven by the increasing demand for accurate and efficient diagnostic solutions.”
The study includes in-depth insights into the NGS market, including competitor landscapes, patent analysis, clinical trial analysis, and regional market trends. It also provides extensive market projections and opportunity evaluations, allowing stakeholders to make better strategic decisions.
For more information, get sample copy of this report: https://www.rootsanalysis.com/reports/next-generation-sequencing/request-sample.html
About the report:
The “Next Generation Sequencing Market (2nd Edition): Industry Trends and Global Forecasts, till 2035” report provides a complete overview of the NGS market, with significant insights for industry players, researchers, and investors.
