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The global next-generation sequencing (NGS) market is undergoing a rapid transformation, driven by continuous technological innovation, increased demand for personalized medicine, and the expansion of clinical applications. According to Fortune Business Insights, the market is set to grow significantly in the coming years, with advancements in bioinformatics, data analytics, and sequencing platforms paving the way for a new era in genomics.
In 2024, the global next-generation sequencing (NGS) market was valued at USD 9.29 billion. It is projected to expand from USD 10.44 billion in 2025 to USD 27.55 billion by 2032, registering a compound annual growth rate (CAGR) of 14.9% over the forecast period.
Request a Free Sample PDF Brochure of Next-generation Sequencing Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/101000
February 2024: Integrated DNA Technologies (IDT) announced a strategic collaboration with Element Biosciences, Inc. to streamline NGS workflows, aiming to simplify sequencing protocols and improve scalability across research and clinical environments.
Drivers of Market Growth:
Expanding Diagnostic Applications:
The global next-generation sequencing (NGS) market has seen strong growth due to the broad and growing use of NGS in diagnostic settings.
Lower Sequencing Costs:
Reduced costs of sequencing have made NGS more accessible for diagnosing a wide range of diseases.
Product Innovation:
Companies are launching various test kits and testing services aimed at applications such as:
Non-invasive prenatal testing (NIPT)
Genetic testing
Cancer screening
Supportive Regulatory Environment:
Increased product approvals and enhanced reimbursement coverage for diagnostic tests are further accelerating market adoption.
Key Market Restraint:
High Data Storage Costs:
The economic burden of storing vast amounts of genomic data presents a major challenge, particularly for research institutions and biopharmaceutical companies, and may hinder broader market expansion.
The Fortune Business Insights report offers an extensive evaluation of the global NGS market, including:
Key players in the market are actively working to expand their product portfolios and customer reach by introducing innovative new offerings. Additionally, they are engaging in strategic partnerships, collaborations, and acquisitions to strengthen and diversify their existing product lines.
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/next-generation-sequencing-ngs-market-101000
North America Maintains Market Leadership Through Innovation and Strategic Collaborations
In 2023, North America dominated the next-generation sequencing market with a revenue of USD 4.60 billion and is expected to retain its leading position throughout the forecast period. This continued dominance is largely driven by the frequent launch of innovative products and strong collaboration among key industry players.
Asia Pacific Sees Rapid Growth Backed by Government Support and Technological Advancements
The Asia Pacific region is experiencing significant market growth, fueled by robust government initiatives, rising demand for genetic sequencing and testing—particularly in China—and advancements in bioinformatics technologies used in genomic research. Additionally, increased investment in research and development for rare disease treatments, coupled with the integration of next-generation sequencing in companion diagnostics, is further accelerating the region’s market expansion
The future of the NGS market looks promising as the technology becomes more affordable and accessible. Key trends shaping the next phase include the integration of AI and machine learning in data analysis, portable sequencing platforms, and the rising use of NGS in non-invasive prenatal testing (NIPT), transplant genomics, and immunotherapy. Additionally, the democratization of sequencing in low- and middle-income countries is expected to unlock untapped potential.
NGS will also play a pivotal role in the development of personalized vaccines, pathogen surveillance, and real-time outbreak tracking—especially in light of recent global health challenges. As cloud-based bioinformatics platforms emerge, they will further ease the challenges related to data processing and storage.
Get a Quote: https://www.fortunebusinessinsights.com/enquiry/get-a-quote/next-generation-sequencing-ngs-market-101000
The next-generation sequencing market is entering a transformative era, driven by innovation, collaboration, and increasing applications across life sciences and clinical diagnostics. As new technologies emerge and barriers to adoption decline, NGS is set to become a foundational element of modern medicine and research. Stakeholders investing in scalable, accurate, and user-friendly sequencing solutions today are likely to lead the genomic revolution of tomorrow.
Fortune Business Insights provides expert corporate analysis and accurate data, enabling businesses of all sizes to make timely decisions. We offer customized solutions tailored to each client’s needs, helping them address unique challenges. Our goal is to empower clients with holistic market intelligence and offer granular insights into the market they operate in.
Our reports are a blend of quantitative and qualitative analysis, aimed at helping businesses achieve sustainable growth. Our experienced analysts and consultants use leading research methodologies to provide comprehensive market assessments enriched with relevant data.
At Fortune Business Insights, we aim to highlight growth opportunities for our clients, offering insights and recommendations that help them navigate technological and market changes. Our consulting services are designed to help companies uncover hidden opportunities and address competitive challenges.
Contact us:
Fortune Business Insights™ Pvt.
Phone: USA: +1 833 909 2966 (Toll-Free),
United Kingdom: +44 808 502 0280 (Toll-Free),
APAC: +91 744 740 1245
Email: [email protected]
The global next-generation sequencing (NGS) market is undergoing a rapid transformation, driven by continuous technological innovation, increased demand for personalized medicine, and the expansion of clinical applications. According to Fortune Business Insights, the market is set to grow significantly in the coming years, with advancements in bioinformatics, data analytics, and sequencing platforms paving the way for a new era in genomics.
In 2024, the global next-generation sequencing (NGS) market was valued at USD 9.29 billion. It is projected to expand from USD 10.44 billion in 2025 to USD 27.55 billion by 2032, registering a compound annual growth rate (CAGR) of 14.9% over the forecast period.
Request a Free Sample PDF Brochure of Next-generation Sequencing Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/101000
February 2024: Integrated DNA Technologies (IDT) announced a strategic collaboration with Element Biosciences, Inc. to streamline NGS workflows, aiming to simplify sequencing protocols and improve scalability across research and clinical environments.
Drivers of Market Growth:
Expanding Diagnostic Applications:
The global next-generation sequencing (NGS) market has seen strong growth due to the broad and growing use of NGS in diagnostic settings.
Lower Sequencing Costs:
Reduced costs of sequencing have made NGS more accessible for diagnosing a wide range of diseases.
Product Innovation:
Companies are launching various test kits and testing services aimed at applications such as:
Non-invasive prenatal testing (NIPT)
Genetic testing
Cancer screening
Supportive Regulatory Environment:
Increased product approvals and enhanced reimbursement coverage for diagnostic tests are further accelerating market adoption.
Key Market Restraint:
High Data Storage Costs:
The economic burden of storing vast amounts of genomic data presents a major challenge, particularly for research institutions and biopharmaceutical companies, and may hinder broader market expansion.
The Fortune Business Insights report offers an extensive evaluation of the global NGS market, including:
Key players in the market are actively working to expand their product portfolios and customer reach by introducing innovative new offerings. Additionally, they are engaging in strategic partnerships, collaborations, and acquisitions to strengthen and diversify their existing product lines.
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/next-generation-sequencing-ngs-market-101000
North America Maintains Market Leadership Through Innovation and Strategic Collaborations
In 2023, North America dominated the next-generation sequencing market with a revenue of USD 4.60 billion and is expected to retain its leading position throughout the forecast period. This continued dominance is largely driven by the frequent launch of innovative products and strong collaboration among key industry players.
Asia Pacific Sees Rapid Growth Backed by Government Support and Technological Advancements
The Asia Pacific region is experiencing significant market growth, fueled by robust government initiatives, rising demand for genetic sequencing and testing—particularly in China—and advancements in bioinformatics technologies used in genomic research. Additionally, increased investment in research and development for rare disease treatments, coupled with the integration of next-generation sequencing in companion diagnostics, is further accelerating the region’s market expansion
The future of the NGS market looks promising as the technology becomes more affordable and accessible. Key trends shaping the next phase include the integration of AI and machine learning in data analysis, portable sequencing platforms, and the rising use of NGS in non-invasive prenatal testing (NIPT), transplant genomics, and immunotherapy. Additionally, the democratization of sequencing in low- and middle-income countries is expected to unlock untapped potential.
NGS will also play a pivotal role in the development of personalized vaccines, pathogen surveillance, and real-time outbreak tracking—especially in light of recent global health challenges. As cloud-based bioinformatics platforms emerge, they will further ease the challenges related to data processing and storage.
Get a Quote: https://www.fortunebusinessinsights.com/enquiry/get-a-quote/next-generation-sequencing-ngs-market-101000
The next-generation sequencing market is entering a transformative era, driven by innovation, collaboration, and increasing applications across life sciences and clinical diagnostics. As new technologies emerge and barriers to adoption decline, NGS is set to become a foundational element of modern medicine and research. Stakeholders investing in scalable, accurate, and user-friendly sequencing solutions today are likely to lead the genomic revolution of tomorrow.
Fortune Business Insights provides expert corporate analysis and accurate data, enabling businesses of all sizes to make timely decisions. We offer customized solutions tailored to each client’s needs, helping them address unique challenges. Our goal is to empower clients with holistic market intelligence and offer granular insights into the market they operate in.
Our reports are a blend of quantitative and qualitative analysis, aimed at helping businesses achieve sustainable growth. Our experienced analysts and consultants use leading research methodologies to provide comprehensive market assessments enriched with relevant data.
At Fortune Business Insights, we aim to highlight growth opportunities for our clients, offering insights and recommendations that help them navigate technological and market changes. Our consulting services are designed to help companies uncover hidden opportunities and address competitive challenges.
Contact us:
Fortune Business Insights™ Pvt.
Phone: USA: +1 833 909 2966 (Toll-Free),
United Kingdom: +44 808 502 0280 (Toll-Free),
APAC: +91 744 740 1245
Email: [email protected]
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