The Next Generation Sequencing Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Next Generation Sequencing Market?
The market size of next generation sequencing has seen a swift expansion in recent years. The figures are set to rise from $14.52 billion in 2024 to $17.21 billion in 2025, presenting a compound annual growth rate (CAGR) of 18.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Next Generation Sequencing Industry?
The next generation sequencing market is predicted to expand to a size of $33.89 billion by 2029. The anticipated compound annual growth rate (CAGR) during this period is 18.5%.
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What are the Key Growth Drivers Fueling the Next Generation Sequencing Market?
The key drivers in the next generation sequencing market are:
• Aging population leading to higher demand for healthcare services
• Expanding accessibility to healthcare facilities
• Rising prevalence of chronic diseases requiring advanced diagnostic tools
• Rising demand for next generation sequencing in response to COVID-19 pandemic
Global Market Segmentation: Identifying Major Next Generation Sequencing Industry Segments
The next generation sequencing market covered in this report is segmented –
1) By Product: Instruments, Reagents And Kits, Software
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies
3) By Application: Diagnostics, Drug Discovery, Other Applications
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What are the Emerging Trends Shaping the Future of the Next Generation Sequencing Market?
The key trends in the next generation sequencing market are:
• The application of artificial intelligence to reduce costs and expedite procedures is an emerging trend.
• The cost-effective study of rare diseases using next-Generation Sequencing (NGS) to uphold a competitive edge is a rising trend.
• There is a developing trend towards using NGS technologies for newborn screening.
• The adoption of big data technologies for analyzing large genomic data is a significant upcoming trend.
Who Are the Top Competitors & Leading Players in the Next Generation Sequencing Market?
Major companies in the next generation sequencing market are:
• Illumina, Inc.
• Thermo Fisher Scientific Inc.
• QIAGEN
• Agilent Technologies, Inc.
• Pacific Biosciences of California Inc.
• Oxford Nanopore Technologies
• 10x Genomics
• Bio-Rad Laboratories, Inc.
• MGI Tech Co., Ltd.
• Oxford Gene Technology
• Hoffmann-La Roche Ltd
• BGI
• PerkinElmer Inc.
• Macrogen Inc.
• Genotypic Technology Pvt. Ltd.
• Beijing Genomics Institute
• SciGenom Labs Pvt. Ltd (India)
• Dante Labs
• Roche
• First Genetics JCS
• Helix
• Tempus
• Massive Bio
• Genetricsinc
• King Abdullah International Medical Research Center
• Inqaba biotec
Regional Dominance: Which Area Leads the Global Template Market?
North America was the largest region in the next generation sequencing market in 2024
