PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1930057
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1930057
The global next-generation sequencing (NGS) market was valued at USD 10.44 billion in 2025 and is projected to reach USD 11.79 billion in 2026, eventually growing to USD 38.34 billion by 2034, representing a CAGR of 15.88% during the forecast period. North America dominated the market in 2025 with a 56.01% share, driven by advanced research infrastructure, significant R&D investments, strong adoption of genomics in clinical and research applications, and the presence of leading players like Illumina Inc., Thermo Fisher Scientific Inc., and PacBio.
Next-generation sequencing is a revolutionary technology that enables high-throughput, scalable, and rapid DNA sequencing, transforming genomics research and clinical diagnostics. Its applications span genetic testing, non-invasive prenatal testing, oncology, infectious disease monitoring, and personalized medicine. The COVID-19 pandemic accelerated NGS adoption as the technology was used to study, monitor, and sequence the SARS-CoV-2 virus, boosting research activities and investments in vaccine development.
Key Market Drivers
Diversified Applications in Diagnostics and Research: The decreasing costs of NGS and its high accuracy have expanded its applications in diagnostics, including cancer screening, reproductive health, genetic disorder detection, and companion diagnostics. For example, Thermo Fisher Scientific and Bayer collaborated in March 2024 to develop NGS-based companion diagnostic assays, supporting clinical pipelines.
Technological Advancements and Product Innovation: Continuous innovation in instruments and consumables has enhanced sequencing speed, accuracy, and data analysis. In June 2022, PerkinElmer launched the BioQule NGS System, an automated benchtop solution, while Illumina introduced Connected Insights, a cloud-based software for clinical NGS data analysis in March 2023. These advancements increase accessibility, efficiency, and adoption across research and clinical applications.
Government Initiatives and Genome Projects: Large-scale genome projects, such as the Genome India Project, Personalized Medicine Program (France), and Saudi Human Genome Program, have accelerated NGS adoption. Governments globally are funding genomic research to enhance disease diagnosis, personalized medicine, and biotechnology development.
Market Restraints
The growth of the NGS market faces challenges such as shortage of skilled personnel in developing nations, high investment requirements, and data storage limitations due to the massive volume of sequencing data generated. Additionally, emerging regions may lack sufficient infrastructure to fully leverage NGS technologies, restraining adoption.
Market Segmentation
By Type: The market is segmented into products and services. The products segment dominated the market in 2026 with 86.10% share, including instruments and consumables, due to high usage volume, continuous product launches, and availability. Services, including sequencing as a service, are projected to grow steadily as outsourcing increases.
By Technology: Sequencing technologies include Sequencing by Synthesis (SBS), nanopore sequencing, Ion semiconductor sequencing, and others. SBS held 68.41% share in 2026, led by Illumina's strong product portfolio. Nanopore sequencing is projected to grow rapidly due to portability and long-read capabilities.
By Application: The market is segmented into clinical and research & applied. Clinical applications dominated in 2026 with 51.96% share, driven by oncology, cardiovascular, genetic disorder diagnostics, and reproductive health. Research applications are expected to grow due to large-scale projects and technological adoption.
By End-User: Pharmaceutical & biotechnology companies accounted for 48.00% share in 2026, driven by research collaborations, drug discovery, and NGS adoption in development pipelines. Academic and research institutes are also increasing adoption due to government research funding and genome projects.
North America generated USD 5.85 billion in 2025 and is projected to reach USD 6.18 billion by 2026, maintaining dominance due to strong research funding and advanced infrastructure. Asia Pacific is expected to witness the highest CAGR, driven by initiatives like the Genome India Project and rapid adoption of genomic medicine in China and Japan. Europe benefits from strong healthcare infrastructure and government support for genomics research. Latin America and the Middle East & Africa are projected to witness moderate growth, supported by partnerships and capacity expansion in genomics.
Competitive Landscape
The NGS market is highly consolidated, led by Illumina Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., QIAGEN, PacBio, Oxford Nanopore Technologies, PerkinElmer, and BGI. Key strategies include product innovation, collaborations, capacity expansion, and strategic partnerships. For instance, Illumina and HaploX collaborated in 2023 to provide locally manufactured sequencing instruments in China.
Conclusion
The global NGS market is projected to experience substantial growth from 2025 to 2034, driven by declining sequencing costs, expanded clinical and research applications, genome projects, technological innovation, and government support. North America remains the largest market, while Asia Pacific is expected to grow at the fastest rate. Dominance in products, SBS technology, clinical applications, and pharmaceutical & biotechnology end-users is expected to continue. Strategic initiatives by major players, along with advancements in sequencing platforms, will drive the market to reach USD 38.34 billion by 2034, enabling improved genomic research, diagnostics, and personalized healthcare worldwide.
Segmentation By Type
By Technology
By Application
By End-User
By Region