Next-Generation Sequencing in Precision Medicine Market Size Technology Adoption and Application Trends in Hospitals and Research Institutes

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Next-Generation Sequencing in Precision Medicine Market Size, Share & Trends Analysis Report By Product & Service (NGS Services, Sequencing Instruments, Consumables & Reagents, Bioinformatics Software, and Library Preparation Kits), Technology (RNA Sequencing, Whole Genome Sequencing (WGS), Targeted Sequencing, Whole Exome Sequencing (WES), and Single-Cell Sequencing), Application (Infectious Disease, Rare & Inherited Disorders, Pharmacogenomics, Oncology (Cancer Genomics), Prenatal and Reproductive Health), End-use (Hospitals & Clinics, Diagnostic Laboratories, Biopharmaceutical Companies, Academic & Research Institutions, and CROs (Contract Research Organizations)),-Market Outlook And Industry Analysis 2034"

The Global Next-Generation Sequencing in Precision Medicine Market is valued at US$ 6.4 Bn in 2024 and it is expected to reach US$ 28.6 Bn by the year 2034, with a CAGR of 16.4% during the forecast period of 2025-2034.

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The next-generation sequencing (NGS) in precision medicine refers to sophisticated DNA and RNA sequencing technologies that enable quick, precise, and thorough genetic material analysis. Millions of DNA fragments may be processed at once using NGS, giving scientists and medical professionals the ability to find genetic variants, mutations, and biomarkers at a pace and scale never before possible.

By customizing medical treatments to each patient's unique genetic profile, NGS aids in precision medicine by improving diagnosis, predicting illness risk, and selecting the best treatments. The market for next-generation sequencing in precision medicine is growing quickly as a result of continuous technological improvements, growing clinical applications, increased need for data analysis and bioinformatics tools, increased emphasis on precision medicine, and increased R&D.

Additionally, techniques like long-read sequencing and improved data analysis tools have been developed to increase the precision and effectiveness of NGS. Furthermore, its increasing importance in pushing the boundaries of health solutions will be further defined by the trend toward noninvasive prenatal testing and cancer diagnostics using next-generation sequencing in precision medicine. In addition, government funding for genome research has increased, and the use of NGS in precision medicine has expanded, supporting the growth of the next-generation sequencing in precision medicine market.

List of Prominent Players in the Next-Generation Sequencing in Precision Medicine Market:
• Danaher
• Thermo Fisher Scientific
• Agilent Technologies
• Eurofins Scientific
• Pacific Biosciences (PacBio)
• Oxford Nanopore Technologies
• Takara Bio
• BGI Group (MGI Tech)
• QIAGEN
• Illumina
• Roche
• Merck KGaA
• BD (Becton, Dickinson and Company)
• 10x Genomics
• New England Biolabs
• Zymo Research
• Novogene
• Promega Corporation
• Revvity (formerly PerkinElmer)
• LGC Limited

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Market Dynamics:
Drivers-
The market for NGS in precision medicine is expanding quickly as a result of more people receiving individualized medical care, particularly for cancer therapy, uncommon disease diagnosis, and genetic disorders. As health systems transition to more data-based and genome-informational models of therapy, NGS is helping precision medicine by enabling doctors to personalize medicines at the genomic level.

Clinical uptake is further facilitated by national biobank initiatives and genomic infrastructure investments made by the public and private sectors. By integrating with AI, cloud-based bioinformatics enhances the efficiency of existing technologies and increases the accuracy of interpretations while also reducing turnaround times.

Challenges:
The next-generation sequencing in the precision medicine market's ability to grow in the upcoming years will be constrained by limited reimbursement coverage. Notwithstanding the decrease in NGS expenses, reimbursement is still uneven by region and test. Smaller health systems frequently cover single-gene or small panel testing, but patients must pay for complete genomics out of pocket.

The lack of clinical usefulness, cost-effectiveness, and uncertainty about long-term effects are the reasons why private payers are taking their time. Only early adopters and well-resourced institutions can request tests in the absence of strong insurance support. This reimbursement disparity hampers local investments in clinical adoption and sequencing capability.

Regional Trends:
North America dominated the next-generation sequencing in precision medicine market in 2024 because of its advanced healthcare system, high concentration of biotech businesses, and robust government and academic research programs.

Along with clinical applications in pharmacogenomics, cancer, and genetic disease diagnostics, growth is also bolstered by significant suppliers of NGS technologies. Advanced regulatory guidance for companion diagnostics and U.S. initiatives such as the All of Us Research Program ensure strong progress.

The Asia Pacific region's enormous population, developing middle class, and proactive government healthcare reforms have allowed it to maintain its dominant growth rate. South Korea, Japan, and China are making significant investments in genomics as part of their Precision Medicine-focused national initiatives. Local NGS providers and the growing affordability of sequencing technology are increasing industrial competition in the area. Additionally, its use in neonatal screening, infectious disease management, and oncology is growing.

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Recent Developments:
• In Feb 2025: Roche introduced its innovative sequencing by expansion (SBX) technology, creating a novel category of next-generation sequencing. SBX chemistry, along with an advanced sensor module, provides ultra-rapid, high-throughput sequencing that is adaptable and scalable for diverse applications.

Segmentation of Next-Generation Sequencing in Precision Medicine Market-
By Product & Service-
• NGS Services
• Sequencing Instruments
• Consumables & Reagents
• Bioinformatics Software
• Library Preparation Kits
By Technology -
• RNA Sequencing
• Whole Genome Sequencing (WGS)
• Targeted Sequencing
• Whole Exome Sequencing (WES)
• Single-Cell Sequencing
By Application-
• Infectious Disease
• Rare & Inherited Disorders
• Pharmacogenomics
• Oncology (Cancer Genomics)
• Prenatal and Reproductive Health
By End-use-
• Hospitals & Clinics
• Diagnostic Laboratories
• Biopharmaceutical Companies
• Academic & Research Institutions
• CROs (Contract Research Organizations)
By Region-
North America-
• The US
• Canada
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Mexico
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.