Rising Incidence Of Chronic Diseases Drives Growth In The Next-Generation Sequencing Market: A Significant Driver Propelling The Next Generation Sequencing Market In 2025

The Next Generation Sequencing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Next Generation Sequencing Market Size and Projected Growth Rate?
Recent years have seen a swift expansion in the size of the next generation sequencing market. Projected growth is expected from $14.52 billion in 2024, rising to $17.21 billion in 2025, with a compound annual growth rate (CAGR) of 18.5%. Several factors have contributed to this growth during the historic period such as increased funding, escalating healthcare expenditure, burgeoning growth in emerging markets, swift advancements in technology, and a rise in the elderly population.

The market size of next generation sequencing is anticipated to witness a significant surge in the coming years, projected to expand to $33.89 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 18.5%. The forecasted growth can be associated with factors such as a growing elderly population, improved access to healthcare, the burgeoning prevalence of chronic ailments, and a surge in demand for next generation sequencing because of the COVID-19 crisis. Key trends projected to define the forecast period incorporate the emphasis on applying artificial intelligence to curtail expenses and time, examining rare illnesses cost-effectively to sustain competitive superiority, introducing NGS technologies for new-born screening and the adoption of big data technologies for the analysis of voluminous genomic data.

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What Are the Major Segments in the Next Generation Sequencing Market?
The next generation sequencing market covered in this report is segmented -

1) By Product: Instruments, Reagents And Kits, Software
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies
3) By Application: Diagnostics, Drug Discovery, Other Applications

Subsegments:
1) By Instruments: Sequencing Systems, Library Preparation Instruments, Quality Control Instruments
2) By Reagents And Kits: Sequencing Reagents, Library Preparation Kits, Amplification Kits
3) By Software: Data Analysis Software, Bioinformatics Software, Workflow Management Software

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What Are The Driving Next Generation Sequencing Market Evolution?
The escalation in chronic conditions such as cancer, AIDS, and thalassemia has significantly contributed to the expansion of the next-generation sequencing market. Global increases in chronic diseases and conditions, bolstered by an aging populace and shifts in societal behaviors, have led to a gradual upward trend in these pervasive and costly long-term health issues. Next-generation sequencing (NGS) serves as a multifaceted research tool leveraged by clinicians and researchers in various cancer studies, identifying biomarkers that aid in deciding treatment protocols. The World Health Organization prediction on the significant surge in chronic diseases prevalence indicates that the demand for NGS sequencing will spike, driving revenue and supporting the growth of the next-generation sequencing market.

Which Firms Dominate The Next Generation Sequencing Market Segments?
Major companies operating in the next generation sequencing market include Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Agilent Technologies, Inc., Pacific Biosciences of California Inc., Oxford Nanopore Technologies, 10x Genomics, Bio-Rad Laboratories, Inc., MGI Tech Co., Ltd., Oxford Gene Technology, Hoffmann-La Roche Ltd, BGI, PerkinElmer Inc., Macrogen Inc., Genotypic Technology Pvt. Ltd., Beijing Genomics Institute, SciGenom Labs Pvt. Ltd (India), Dante Labs, Roche, First Genetics JCS, Helix, Tempus, Massive Bio, Genetricsinc and King Abdullah International Medical Research Center, Inqaba biotec

What Trends Are Driving Growth in The Next Generation Sequencing Market?
Leading firms in the next-generation sequencing market are centering their efforts on developing groundbreaking technologies, such as next-generation sequencing (NGS) platform technology, to improve speed, accuracy, and cost efficiency. These advancements feature better accuracy, increased throughput, and the integration of Artificial Intelligence for data interpretation. NGS platforms are state-of-the-art technologies that allow for the fast and economical sequencing of DNA and RNA by processing numerous fragments concurrently. These are employed in a range of applications, like whole-genome sequencing and targeted resequencing, revolutionizing genomic research and customised medicine. For example, in April 2022, Thermo Fisher Scientific, a biotechnology company based in the US, introduced an IonTorrent Genexus Dx Integrated Sequencer that facilitates quick, automated next-generation sequencing in clinical labs, providing results in just 24 hours. Its intuitive setup and adaptability support both diagnostic tests and research, thereby effectively progressing precision medicine.

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Which Is The Largest Region In The Next Generation Sequencing Market?
North America was the largest region in the next generation sequencing market in 2024. Asia-Pacific was the second largest region in the global next generation sequencing market share. The regions covered in the next generation sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Next Generation Sequencing Market?
2. What is the CAGR expected in the Next Generation Sequencing Market?
3. What Are the Key Innovations Transforming the Next Generation Sequencing Industry?
4. Which Region Is Leading the Next Generation Sequencing Market?

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