Next-Generation Sequencing Market to Reach USD 38.62 Billion by 2032, Growing at 20.93% CAGR

A new report published by Infinium Global Research (IGR) delivers a comprehensive analysis of the global next-generation sequencing (NGS) market, highlighting robust growth prospects driven by advances in sequencing technologies, expanding clinical applications, and strong public-sector funding worldwide.

According to the report, the global NGS market was valued at USD 8.14 billion in 2023 and is projected to reach USD 38.62 billion by 2032, registering a compound annual growth rate (CAGR) of 20.93% during 2024-2032.

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Market Overview

Next-generation sequencing has become a cornerstone technology in genomics, enabling high-throughput, accurate, and cost-efficient DNA and RNA sequencing. The market is witnessing accelerated adoption across clinical diagnostics, precision medicine, drug discovery, agriculture, and environmental sciences.

Key technological advancements-including sequencing by synthesis (SBS), nanopore sequencing, semiconductor-based sequencing, and long-read technologies-are reshaping genomic research and clinical workflows.

Key Market Insights

Market Size (2023): USD 8.14 Billion
Market Forecast (2032): USD 38.62 Billion
Forecast CAGR (2024-2032): 20.93%
Largest Regional Market: North America
Fastest-Growing Region: Asia-Pacific
Report Length: 300 Pages

Growth Drivers

Rising demand for precision medicine and personalized therapies
Increasing use of NGS in oncology and rare disease diagnostics
Rapid integration of artificial intelligence (AI) and cloud-based bioinformatics
Continuous reduction in sequencing costs and improved data accuracy
Strong government funding and national genomics initiatives

Public-sector investments continue to play a pivotal role. For instance:

The U.S. National Institutes of Health (NIH) allocates approximately USD 1.2 billion annually for genomics research.
Genomics England's 100,000 Genomes Project committed nearly USD 370 million.
Genome Canada proposed investments of USD 200 million to enhance national sequencing capacity.

Product & Service Insights

Consumables & reagents hold the largest revenue share due to recurring usage in sequencing workflows.
The NGS services market, currently valued at approximately USD 12.2 billion, is projected to reach USD 87.5 billion by 2035, driven by diagnostics, biomarker discovery, and pharmaceutical research.
Growing adoption of data analysis software and bioinformatics services supports the expanding volume of genomic data.

Technology Insights

Sequencing by Synthesis (SBS) dominates the market with nearly 65% share, owing to its high accuracy and broad application range.
Emerging technologies such as nanopore sequencing, single-cell RNA sequencing, and synthetic long-read sequencing are expanding use cases.
AI- and machine-learning-powered analytics are transforming genomic data interpretation, improving speed and error correction.

Application Insights

Clinical diagnostics represent the largest application segment, with oncology and rare disease research accounting for nearly 91% of clinical NGS data analysis demand.

Other high-growth applications include:

Drug discovery and pharmacogenomics
Reproductive health and prenatal testing
Agricultural genomics
Microbiome and metagenomics research
End User Insights

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Major end users of NGS technologies include:

Hospitals & diagnostic laboratories for precision medicine and genetic counseling
Pharmaceutical & biotechnology companies for drug development and target identification
Academic and government research institutes for translational and functional genomics
Agricultural and environmental research centers for crop improvement and biodiversity studies

Regional Analysis

North America accounts for nearly 50% of the global market, supported by advanced healthcare infrastructure and strong research funding.

Europe contributes approximately 25%, driven by large-scale genomics programs and stringent regulatory standards.

Asia-Pacific is the fastest-growing region, with a projected CAGR of over 18%, fueled by government initiatives, large population bases, and expanding healthcare access in countries such as China, India, Japan, and South Korea.

Latin America, the Middle East, and Africa are emerging markets, supported by public health initiatives and international collaborations.

Recent Developments (2025)

Illumina launched BioInsight, a new division focused on AI-driven multi-omics data analysis for accelerated drug discovery.

Roche introduced Sequencing-by-Expansion (SBX) technology, reducing sequencing time from days to hours.

Thermo Fisher Scientific received three R&D 100 Awards, including recognition for its Stellar Mass Spectrometer with 10× higher sensitivity.

Oxford Nanopore Technologies reported strong revenue growth in H1 2025, supported by operational improvements and strategic partnerships, including a collaboration with Cepheid for automated infectious disease sequencing.

Competitive Landscape

The report profiles leading players operating in the global NGS market, including:

Illumina, Inc.
Thermo Fisher Scientific, Inc.
Pacific Biosciences (PacBio)
Oxford Nanopore Technologies
BGI Group
Hoffmann-La Roche Ltd.
QIAGEN
Agilent Technologies
GenScript Biotech Corporation
Swift Biosciences Inc.

Report Highlights

In-depth analysis of market trends, drivers, restraints, and opportunities
Forecasts and revenue projections from 2024 to 2032
Porter's Five Forces, DRO analysis, and IGR-Growth Matrix for investment insights
Detailed segmentation by product & service, technology, application, and end user
Regional competitive landscape and market share analysis

Contact Us:

info@infiniumglobalresearch.com
Infinium Global Research LLP
Ravet, Pune
412101

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This release was published on openPR.