The global next-generation sequencing market size was estimated at USD 9.56 billion in 2024 and is anticipated to reach USD 42.25 billion by 2033, growing at a CAGR of 18.0% from 2025 to 2033. This significant growth trajectory is primarily supported by the rising need for advanced genomic research as researchers increasingly rely on high-throughput sequencing technologies for deeper insights into genetic variations and disease mechanisms.
Additionally, the expanding use of NGS in clinical diagnostics—particularly in areas such as oncology, infectious disease testing, and rare disease identification—is further accelerating market adoption. Moreover, continuous technological advancements in sequencing platforms, including improvements in accuracy, speed, scalability, and cost efficiency, are enhancing accessibility and broadening the scope of applications, collectively fueling the overall market expansion
Key Market Trends & Insights:
• The North America next-generation sequencing market held the largest share of 44.74% of the global market in 2024, highlighting the region’s strong presence in genomic research, advanced healthcare infrastructure, and high adoption of innovative sequencing technologies. This dominance is further supported by significant investments made by both public and private entities to advance precision medicine and large-scale genome projects.
• Within this regional landscape, the next-generation sequencing industry in the U.S. is expected to grow significantly over the forecast period, driven by increasing clinical utilization of NGS, expanding applications in disease diagnostics, and continuous technological improvements that enhance sequencing accuracy and reduce turnaround time.
• By application, the oncology segment held the largest market share of 31.71% in 2024, reflecting the extensive use of NGS for cancer-related testing, including tumor profiling, detection of genetic mutations, and guiding targeted therapies.
• In terms of product categories, the consumables segment held the largest market share in 2024, supported by the recurring need for reagents, kits, and other essential materials required for routine sequencing workflows, contributing to steady and sustained demand.
• Furthermore, by technology, the targeted sequencing & resequencing segment held the largest market share in 2024, driven by its cost-effectiveness, high sensitivity, and suitability for applications that require precise analysis of specific gene regions, making it a preferred choice in both clinical and research settings.
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Market Size & Forecast:
• 2024 Market Size: USD 9.56 Billion
• 2033 Projected Market Size: USD 42.25 Billion
• CAGR (2025-2033): 18.0%
• North America: Largest market in 2024
• Asia Pacific: Fastest growing market
Key Companies & Market Share Insights:
The NGS industry is dominated by several well-established players who continue to maintain their leadership positions through strong product portfolios, strategic collaborations, and sustained investments in research and development. Industry leaders such as Illumina, F. Hoffman-La Roche Ltd., QIAGEN, and Thermo Fisher Scientific, Inc. hold a significant share of the market due to their advanced sequencing platforms, wide-ranging service offerings, and well-established global distribution networks that ensure broad accessibility and customer reach. Their focus on continuous innovation, improved workflow efficiency, and integrated solutions further strengthens their competitive edge.
In addition, companies such as Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies, PierianDx, and Genomatix GmbH are rapidly expanding their presence in the market. They are achieving this by introducing innovative sequencing technologies, advanced bioinformatics tools, and specialized services tailored to meet the evolving needs of research organizations, clinical laboratories, and pharmaceutical companies. These firms are placing strong emphasis on improving sequencing accuracy, increasing throughput, and enhancing data processing capabilities. Their solutions support a wide range of applications, including oncology, rare disease diagnostics, infectious disease monitoring, and the growing field of precision medicine, thereby contributing to the overall advancement of the NGS ecosystem.
Key Players
• Illumina
• F. Hoffman-La Roche Ltd.
• QIAGEN
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• PacBio
• Oxford Nanopore Technologies
• Revvity, Inc.
• Merck KGaA
• BGI
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Conclusion:
The NGS market is set for strong expansion driven by growing demand in clinical diagnostics, especially in oncology and rare diseases, alongside rapid technological innovation. Portable and high-throughput sequencing platforms, paired with advanced bioinformatics, are broadening access and enabling more decentralized testing. Market consolidation and strategic partnerships are accelerating innovation, while regulatory support and increasing global adoption reinforce long-term growth.
