Global Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market Growth Accelerates: Strategic Forecast Predicts $3 Billion by 2029

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What Will the Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Industry Market Size Be by 2025?
In recent times, the market size for next-generation sequencing (NGS)-based molecular diagnostics has seen a significant increase. The expected growth trajectory is from $2.10 billion in 2024 to $2.26 billion in 2025, translating to a compound annual growth rate (CAGR) of 7.8%. The historical growth is linked to factors such as the rising demand for personalized medicine, growing adoption of next-generation sequencing in clinical environments, heightened awareness among clinicians and patients, increased availability of cost-effective next-generation sequencing platforms, and amplifying applications in non-invasive prenatal testing.

What's the Long-Term Growth Forecast for the Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market Size Through 2029?
The market size for next-generation sequencing (NGS)-based molecular diagnostics is forecasted to experience significant expansion in the coming years, expected to reach a value of $3.01 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. Factors contributing to the projected growth during this period include an increase in demand for localised diagnostic solutions, augmented use of artificial intelligence in interpreting next-generation sequencing data, a rising issue with antibiotic resistance, heightened regulatory backing for tests based on next-generation sequencing, and the expansion of next-generation sequencing's application in pharmacogenomics. Several key trends expected for the forecast period encompass advancements in sequencing precision driven by technology, the incorporation of technology in automating sample preparation, its integration within pharmaceutical development processes, the use of next-generation sequencing in public health monitoring, and the creation of disease-specific next-generation sequencing panels.

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What Are the Key Growth Drivers Fueling the Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market Expansion?
The surge in infectious disease instances is anticipated to boost the expansion of the next-generation sequencing (NGS)-based molecular diagnostics market. Infectious diseases, created by microorganisms such as viruses, fungi, bacteria, or parasites that infiltrate and reproduce within the body, interfering with regular bodily functions, are on the rise. Accelerated pathogen transmission across regions and borders due to increased migration and travel contributes to this growing prevalence. NGS-based molecular diagnostics provide robust and accurate analyses of pathogens, aiding in the detection of infectious diseases. This method reduces diagnostic time by concurrently identifying multiple microorganisms, hence enhancing treatment precision and patient care. For example, cases of tuberculosis, a contagious bacterial condition that chiefly affects the lungs, rose by 10.7% from 4,380 in 2022 to 4,850 in 2023, per the report of the UK Health Security Agency in February 2024. Thus, the escalating occurrence of infectious diseases steers the growth of the NGS-based molecular diagnostics market.

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What Are the Key Trends Driving Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market Growth?
Leading firms in the next-generation sequencing (NGS)-based molecular diagnostics market are concentrating their efforts on creating innovative products with advanced technology, for instance, panels based on next-generation sequencing. These tools are aimed at improving accuracy, increasing ease of access, and streamlining genetic testing procedures. These NGS-based panels analyze distinct sets of genes or genomic regions at the same time, enabling the detection of particular inherited or somatic mutations, thereby making molecular diagnostics more comprehensive and faster. Taking an example into account, Genes2Me Pvt. Ltd., a medical equipment producer based in India, in May 2022, introduced an extensive suite of NGS-based panels specifically curated for oncology, personalized treatment, and inherited disease diagnostics. These panels, which scrutinize clinically important genes with high precision, offer exhaustive variant detection, incorporating single-nucleotide variations, additions or removals, variation in copy number, microsatellite instability, fusions, and cancer-causing viruses. They also provide a measure of tumor mutation load. The Genes2Me PAN cancer panel alone analyzes 525 genes, calls for a mere 50 ng of nucleic biomolecule, and facilitates easy workflows compatible with prime NGS platforms.

How Is the Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market Segmented?
The next-generation sequencing (NGS)-based molecular diagnostics market covered in this report is segmented as

1) By Type: Instruments, Reagents And Consumables, Software And Services, Panels And Assays, Sample Preparation Kits
2) By Application: Microbiology, Infectious Diseases, Oncology, Genetic Tests, Other Applications
3) By End User: Research Centers And Academics, Hospitals And Clinical Laboratories, Other End Users

Subsegments:
1) By Instruments: Benchtop Sequencers, High-Throughput Sequencers, Portable Or Handheld Sequencers, Clinical Or Diagnostic Sequencers, Automated Library Preparation Systems, Data Analysis And Bioinformatics Hardware
2) By Reagents And Consumables: Sequencing Reagents And Kits, Library Preparation Reagents, Target Enrichment Reagents, Amplification Reagents, Sequencing Flow Cells And Chips, Deoxyribonucleic Acid (DNA) Or Ribonucleic Acid (RNA) Extraction Reagents, Quality Control Reagents
3) By Software And Services: Data Analysis Software, Bioinformatics Pipelines, Cloud-Based Genomic Platforms, Clinical Interpretation Tools, Data Storage And Management Services, Custom Bioinformatics Services, Genomic Database Services
4) By Panels And Assays: Oncology Panels, Infectious Disease Panels, Carrier Screening Panels, Reproductive Health Panels, Rare Disease Or Genetic Disorder Panels, Pharmacogenomics Panels, Whole-Exome Or Whole-Genome Assays
5) By Sample Preparation Kits: Deoxyribonucleic Acid (DNA) Extraction Kits, Ribonucleic Acid (RNA) Extraction Kits, Library Preparation Kits, Target Enrichment Kits, Amplification And Cleanup Kits, Single-Cell Preparation Kits, Low-Input Or Degraded Sample Kits

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Which Companies Are Leading the Charge in Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market Innovation?
Major companies operating in the next-generation sequencing (ngs)-based molecular diagnostics market are Thermo Fisher Scientific, Siemens Healthineers AG, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Qiagen N.V., Amoy Diagnostics Co. Ltd., Tempus Labs Inc., Myriad Genetics Inc., Epigenomics AG, Precision for Medicine Inc., Invitae Corporation, NeoGenomics Laboratories Inc., Guardant Health Inc., Caris Life Sciences Inc., Foundation Medicine Inc., Oxford Nanopore Technologies Ltd., Freenome Inc., Burning Rock Biotech, Element Biosciences Inc., Asuragen Inc., Bionano Genomics Inc., Genomic Health Inc., and TATAA Biocenter AB.

Which Regions Are Leading the Global Next-Generation Sequencing (NGS)-Based Molecular Diagnostics Market in Revenue?
North America was the largest region in the next-generation sequencing (NGS)-based molecular diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in next-generation sequencing (NGS)-based molecular diagnostics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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