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Next-generation Sequencing Market Size to Increase at USD 60.18 Billion by 2033

April 8, 2024 | 
11 min read

According to Vision Research Reports, the global next generation sequencing market size was estimated at around USD 8.43 billion in 2023 and it is projected to hit around USD 60.18 billion by 2033, growing at a CAGR of 21.72% from 2024 to 2033.

According to Vision Research Reports, the global next generation sequencing market size was estimated at around USD 8.43 billion in 2023 and it is projected to hit around USD 60.18 billion by 2033, growing at a CAGR of 21.72% from 2024 to 2033. The Next-generation Sequencing Market thrives on innovation, fueled by a constant quest for precision, efficiency, and affordability. As technology advances, so do the applications and accessibility of NGS platforms, reshaping industries ranging from healthcare to agriculture.

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Key Pointers

  • North America took the lead in 2023, capturing the largest revenue share of 50%.
  • Among applications, oncology dominated with a significant market share of 28% in 2023.
  • In terms of technology, targeted sequencing and resequencing emerged as the top segment in 2023.
  • The sequencing workflow segment registered the highest market share in 2023.
  • Academic research emerged as the leading end-use segment, claiming the highest market share in 2023.

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Applications of NGS

Next-generation sequencing technology has fundamentally changed the kinds of questions scientists can ask and answer. Innovative sample preparation and data analysis options enable a broad range of applications. For example, NGS allows labs to:

  • Rapidly sequence whole genomes
  • Deeply sequence target regions
  • Utilize RNA sequencing (RNA-Seq) to discover novel RNA variants and splice sites, or quantify mRNAs for gene expression analysis
  • Analyze epigenetic factors such as genome-wide DNA methylation and DNA-protein interactions
  • Sequence cancer samples to study rare somatic variants, tumor subclones, and more
  • Study the human microbiome
  • Identify novel pathogens

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Advances in NGS Technology

Recent Illumina next-generation sequencing technology breakthroughs include:

  • Semiconductor sequencing: The iSeq 100 System combines a complementary metal-oxide semiconductor (CMOS) chip with one-channel SBS to deliver high-accuracy data in a compact system.
  • Patterned flow cell technology: This option offers an exceptional level of throughput for diverse sequencing applications.
  • 75 breakthrough innovations: The NextSeq 1000 and 2000 Systems offer flexibility for emerging applications, a simple workflow, and data analysis in as little as 2 hours.
  • Up to 16 Tb: The NovaSeq X series provides extraordinary sequencing power to fuel data-intensive applications.

Next-generation Sequencing Market Top Trends

  • Growth in personalized medicine: NGS is playing an increasingly important role in personalized medicine, which allows doctors to tailor treatments to the individual patient’s genetic makeup. This is leading to the development of more effective and targeted therapies.
  • Increasing adoption in oncology: NGS is being used to identify genetic mutations that can cause cancer. This information can be used to develop targeted cancer therapies and to guide treatment decisions.
  • Technological advancements: There are constant advancements in NGS technology, such as the development of new sequencing platforms and the ability to sequence whole genomes more quickly and cheaply. This is making NGS more accessible to a wider range of researchers and clinicians.
  • Expanding applications: NGS is being used in an increasingly wide range of applications, including non-invasive prenatal testing, infectious disease testing, and agricultural research.
  • Growing focus on data analysis: As the amount of data generated by NGS continues to grow, there is a growing focus on the development of new tools and techniques for data analysis. This is essential for making sense of the vast amount of information that NGS can generate.
  • Regulatory considerations: The regulatory landscape for NGS is still evolving. As NGS is used in more clinical applications, there is a need for clear and consistent regulations to ensure the safety and efficacy of this technology.

Next-generation Sequencing Market Challenges

  • Data Management and Analysis: NGS generates vast amounts of data, requiring sophisticated computational tools and storage solutions. Handling, processing, and analyzing this data efficiently present significant challenges.
  • Cost: Despite decreasing costs over time, NGS technologies can still be expensive, limiting access for smaller research labs and institutions. Cost-effective solutions need to be developed to democratize NGS.
  • Bioinformatics Expertise: NGS data analysis requires specialized bioinformatics skills. The shortage of trained professionals capable of handling complex bioinformatics pipelines poses a bottleneck in leveraging NGS technology effectively.
  • Accuracy and Error Rates: Although NGS technologies have improved accuracy, error rates still exist, particularly in variant calling and data interpretation. Enhancing the accuracy and reliability of NGS data is essential for its widespread adoption in clinical settings.
  • Sample Quality and Preparation: The quality of DNA or RNA samples significantly impacts NGS results. Issues such as sample degradation, contamination, and variability can introduce biases and errors, requiring stringent sample preparation protocols.
  • Turnaround Time: While NGS technologies offer high-throughput sequencing, the time required for sample preparation, sequencing, and data analysis can still be lengthy. Improving turnaround time is crucial, especially for clinical applications where rapid results are essential.
  • Integration with Clinical Practice: Integrating NGS into routine clinical practice faces challenges such as reimbursement policies, clinician education, and infrastructure requirements. Bridging the gap between research and clinical implementation is necessary for realizing the full potential of NGS in precision medicine.

Application Insights

The oncology segment held a dominant position in the market, claiming the highest market share of 28% in 2023. This dominance is fueled by the increasing prevalence of cancer, driving the need for advanced technology. Next-generation sequencing (NGS) techniques, utilized for DNA and RNA sequencing, epigenetics, and analyzing chromosomal abnormalities, contribute to over three-fourths of the global sequencing data. Companies like Myriad, with products such as myRisk, offer genetic testing to identify individuals at higher risk of developing certain cancers.

In January 2021, Merus N.V., a clinical-stage immuno-oncology company, partnered with the National Cancer Center in Japan and Erasmus University Medical Center in the Netherlands to evaluate its HER2/3-targeting bispecific antibody in solid tumors.

Additionally, the consumer genomics segment is experiencing growth due to continuous product introductions by key players. Companies like 23andMe, offering the “Personal Genome Service,” are driving growth in this segment. Others like Ancestry.com, Color Genomics, Cloud Health, National Geographic, and Japanese consumer companies, along with the emerging player Helix launched by Illumina, are expected to contribute to revenue generation. The increasing interest in genealogy, paternity testing, and personal health awareness are key drivers of growth in consumer genomics as an application of NGS.

Technology Insights

In 2023, the targeted sequencing and resequencing segment emerged as the leader, holding the highest market share. This segment is poised to experience increased demand following the expansion of whole genome sequencing. As the availability of extensive whole genome data grows, there will be a need to analyze specific gene locations and isolated genetic expressions. Numerous companies in the NGS market provide targeted sequencing services, indicating an anticipated parallel growth with the WGS segment throughout the forecast period.

Illumina offers targeted resequencing through its gene panel and array finder, while Pacific Biosciences of California’s Sequel System, utilizing its SMRT technique, enables precise targeted sequencing and variant detection. Targeted sequencing panels are expected to remain essential for cancer molecular diagnostics and are forecasted to become a routine component for both hematologic malignancies and solid tumors.

Workflow Insights

In 2023, the sequencing segment commanded the highest market share. Next-generation sequencing (NGS) sequencing constitutes the pivotal phase of the workflow, thus accounting for the largest market share. These systems play a crucial role in delivering precise liquid amounts, a critical aspect in NGS. Additionally, they handle tasks such as tube and microtiter plate changes, streamlining the workflow process. Utilizing a robotic liquid handling system offers the advantage of allowing researchers to focus on data analysis rather than process management.

For example, Illumina’s BaseSpace Suite facilitates the rapid analysis of sequencing data and expedites the generation of findings. To bolster its data analytic capabilities, the company has acquired DRAGEN Bio-IT Platform (DRAGEN) and Edico Genome. Moreover, Genomatix and DNAnexus offer cloud-based solutions for the interpretation and management of vast volumes of sequencing data.

End-use Insights

The academic research segment dominated the market in 2023. This segment’s largest share can be attributed to the application of NGS solutions in research projects conducted in universities and research centers. Additionally, scholarships offered for Ph.D. projects involving NGS are expected to drive demand for NGS products and services, leading to substantial growth over the forecast period. The provision of on-site bioinformatics courses, including workshops on practical NGS sequencing implementation and data analysis, is also anticipated to bolster revenue in the academic research segment in the years to come.

The use of NGS in cancer research, particularly in discovering new cancer-related genes, studying tumor heterogeneity, and identifying alterations contributing to tumorigenesis, is projected to drive significant growth in this segment through 2030. Furthermore, the availability of clinical research solutions from market players such as Illumina, Thermo Fisher Scientific Corporation, and Agilent Technologies for target enrichment and detection is expected to present high growth opportunities for this segment in the forecast period.

Regional Insights

In 2023, North America emerged as the dominant force in the NGS market, commanding the largest revenue share of 50%. This regional supremacy is fueled by the presence of numerous clinical laboratories utilizing NGS for genetic testing services. Additionally, the region’s high R&D investments and advanced healthcare research infrastructure, particularly in whole genome sequencing (WGS) development, are crucial factors driving market growth in North America, expected to persist throughout the forecast period.

Meanwhile, the Asia Pacific region is poised for rapid growth in the NGS market. This growth is attributed to significant advancements in NGS methodologies in countries like China and Japan, along with the development of robust healthcare, R&D, and clinical frameworks in emerging economies such as India and Australia. These factors position the Asia Pacific NGS market for lucrative growth opportunities throughout the forecast period.

Next Generation Sequencing Market Key Companies

  • Illumina
  • QIAGEN
  • Thermo Fisher Scientific, Inc.
  • F. Hoffman-La Roche Ltd.
  • Oxford Nanopore Technologies
  • Genomatix GmbH
  • PierianDx
  • DNASTAR, Inc.
  • Eurofins GATC Biotech GmbH
  • Perkin Elmer, Inc.
  • BGI
  • Bio-Rad Laboratories, Inc.

Next Generation Sequencing Market Segmentations:

By Technology

  • WGS
  • Whole Exome Sequencing
  • Targeted Sequencing & Resequencing
    • DNA-based
    • RNA-based

By Application

  • Oncology
    • Diagnostics and Screening
      • Oncology Screening
        • Sporadic Cancer
        • Inherited Cancer
      • Companion Diagnostics
      • Other Diagnostics
    • Research Studies
  • Clinical Investigation
    • Infectious Diseases
    • Inherited Diseases
    • Idiopathic Diseases
    • Non-Communicable/Other Diseases
  • Reproductive Health
    • NIPT
      • Aneuploidy
      • Microdeletions
    • PGT
    • Newborn Genetic Screening
    • Single Gene Analysis
  • HLA Typing/Immune System Monitoring
  • Metagenomics, Epidemiology & Drug Development
  • Agrigenomics & Forensics
  • Consumer Genomics

By Workflow

  • Pre-Sequencing
    • NGS Library Preparation Kits
    • Semi-automated Library Preparation
    • Automated Library Preparation
  • Sequencing
  • NGS Data Analysis
    • NGS Primary Data Analysis
    • NGS Secondary Data Analysis
    • NGS Tertiary Data Analysis

By End-use

  • Academic Research
  • Clinical Research
  • Hospitals & Clinics
  • Pharma & Biotech Entities
  • Other Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East Africa

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