Press release
Next Generation Sequencing (NGS) Services Market to Reach USD 35 Billion by 2034
Next Generation Sequencing
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NGS services, offered by specialized providers and research institutions, allow organizations to leverage sequencing without investing in expensive in-house infrastructure. From identifying genetic mutations linked to cancer to monitoring infectious diseases such as COVID-19, NGS services play a pivotal role in global healthcare and scientific advancement.
According to Exactitude Consultancy, the global NGS Services Market was valued at USD 15 billion in 2024 and is projected to reach USD 35 billion by 2034, growing at a CAGR of 8.5%. This reflects not only technological progress but also the expanding clinical and commercial applications of genomics.
Market Overview
The NGS services market is growing steadily, supported by innovations in sequencing platforms, bioinformatics, and personalized medicine.
• Market Size 2024: USD 15 billion
• Forecast 2034: USD 35 billion
• CAGR (2025-2034): 8.5%
• Key Drivers: Precision medicine demand, cancer genomics, infectious disease monitoring, and falling sequencing costs.
• Key Challenges: Data storage and interpretation complexities, high initial costs, and regulatory hurdles.
• Leading Players: Illumina, Thermo Fisher Scientific, BGI Genomics, Macrogen, and Novogene.
NGS services are bridging the gap between research and clinical practice, making genomic insights widely accessible.
Segmentation Analysis
By Service Type
• Whole Genome Sequencing (WGS)
• Whole Exome Sequencing (WES)
• Targeted Sequencing & Resequencing
• RNA Sequencing
• Epigenomic Sequencing
• Others (Metagenomics, Transcriptomics)
By Application
• Clinical Diagnostics (Oncology, Infectious Diseases, Rare Diseases)
• Drug Discovery & Development
• Agriculture & Animal Research
• Forensics & Ancestry Studies
• Others
By Technology
• Sequencing by Synthesis (SBS)
• Ion Semiconductor Sequencing
• Single-Molecule Real-Time Sequencing
• Nanopore Sequencing
By End User
• Academic & Research Institutes
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Contract Research Organizations (CROs)
Segmentation Summary:
Whole genome and targeted sequencing dominate due to their widespread applications in research and clinical diagnostics. Oncology leads clinical applications, while infectious disease monitoring and rare disease research are fast-growing areas. Hospitals, biotech firms, and academic centers are major end users, while CROs are expanding their role in outsourced sequencing.
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Regional Analysis
North America
North America dominates the NGS services market, with the U.S. leading adoption. Strong infrastructure, significant R&D investments, and integration of genomics into clinical workflows fuel growth. Cancer genomics and precision medicine initiatives are major drivers.
Europe
Europe shows steady growth, led by Germany, the UK, and France. EU-funded research programs and national genomic initiatives support market expansion. Strict data privacy and regulatory standards shape adoption.
Asia-Pacific
Asia-Pacific is the fastest-growing region, driven by rising genomics research in China, Japan, South Korea, and India. Expanding healthcare systems and government-backed projects are accelerating adoption.
Latin America
Latin America is emerging, with Brazil and Mexico advancing genomic research and clinical adoption. Partnerships with international sequencing providers strengthen the regional market.
Middle East & Africa
The region is in the early stages, but genomic initiatives in the UAE, Saudi Arabia, and South Africa highlight long-term growth potential.
Regional Summary:
North America leads, while Asia-Pacific shows the fastest growth, reflecting government initiatives, healthcare expansion, and growing investment in genomics. Europe remains a strong contributor, while Latin America and MEA represent long-term opportunities.
Market Dynamics
Key Growth Drivers
1. Precision Medicine Expansion: NGS enables tailored treatments based on individual genetic profiles.
2. Cancer Genomics: Widespread adoption of sequencing for tumor profiling and therapy selection.
3. Infectious Disease Monitoring: NGS played a critical role in COVID-19 variant tracking and continues in other pathogen surveillance.
4. Falling Costs: Sequencing costs have declined dramatically, making NGS more accessible.
5. Government & Private Funding: Large-scale national genome projects drive demand for sequencing services.
Key Challenges
1. Data Management: Handling and interpreting large genomic datasets.
2. Cost Barriers: Although falling, sequencing and analysis remain costly for some institutions.
3. Regulatory Uncertainty: Varying regional standards for clinical genomics adoption.
4. Shortage of Skilled Bioinformaticians: Expertise gaps hinder full utilization of sequencing data.
Latest Trends
• AI-Powered Genomics: Machine learning for faster and more accurate interpretation of sequencing data.
• Single-Cell Sequencing: Gaining traction for detailed cellular-level insights.
• Integration into Clinical Workflows: Broader adoption in oncology, prenatal testing, and infectious disease.
• Cloud-Based Platforms: Addressing storage and analysis challenges.
• Global Genomic Initiatives: Expanding genome mapping projects worldwide.
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Competitor Analysis
Major Players in the NGS Services Market:
• Illumina
• Thermo Fisher Scientific
• BGI Genomics
• Macrogen
• Novogene
• Qiagen
• Eurofins Genomics
• Genewiz (Azenta Life Sciences)
• Personalis Inc.
• Fulgent Genetics
Competitive Summary:
The NGS services market is highly competitive, with Illumina and Thermo Fisher leading due to their sequencing platforms and integrated service offerings. BGI Genomics, Novogene, and Macrogen dominate the Asia-Pacific region, offering cost-competitive services. Emerging players are focusing on niche applications such as single-cell sequencing and clinical diagnostics. Partnerships and collaborations remain key strategies for growth.
Conclusion
The Next Generation Sequencing Services Market is projected to grow from USD 15 billion in 2024 to USD 35 billion by 2034, at a CAGR of 8.5%. Growth is fueled by precision medicine, cancer genomics, and infectious disease monitoring.
North America dominates, with strong clinical integration and R&D investments, while Asia-Pacific represents the fastest-growing region, driven by healthcare expansion and government-backed genomics programs.
In conclusion, NGS services are reshaping healthcare and research by unlocking genetic insights at unprecedented scale and speed. Over the next decade, advances in AI, single-cell sequencing, and clinical genomics will ensure that NGS becomes a cornerstone of global healthcare and biotechnology innovation.
This report is also available in the following languages : Japanese (次世代シーケンシングサービス市場), Korean (차세대 시퀀싱 서비스 시장), Chinese (下一代测序服务市场), French (Marché des services de séquençage de nouvelle génération), German (Markt für Sequenzierungsdienste der nächsten Generation), and Italian (Mercato dei servizi di sequenziamento di nuova generazione), etc.
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About Us
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
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