Global Next-Generation Sequencing (NGS) In Precision Medicine Market 2025–2029: Competitive Insights and Opportunities
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What Is The Expected Total Market Size Of The Next-Generation Sequencing (NGS) In Precision Medicine Industry By The Forecast Year 2029?
The market size for next-generation sequencing (NGS) in precision medicine has experienced rapid expansion in recent years. This market is expected to rise from $5.47 billion in 2024 to $6.42 billion in 2025, achieving a compound annual growth rate (CAGR) of 17.3%. Historically, this growth can be attributed to several factors, including increased government funding for genomics research, the rising prevalence of genetic diseases, the development of national biobank initiatives, an increased demand for targeted drugs and biomarker discovery, and the emergence of multi-omics platforms.
The next-generation sequencing (NGS) in precision medicine market size is anticipated to expand significantly over the coming years, reaching $12.03 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 17.0%. This projected growth is driven by the increasing demand for personalized medicine, the broadening of applications beyond human genomics, the rising prevalence of cancer, the expansion into non-communicable disease detection, and greater awareness and accessibility of genetic testing. Notable trends expected during this forecast period include the integration with next-generation sequencing, the emergence of artificial intelligence-enabled bioinformatics pipelines, the incorporation of advanced imaging to enhance diagnostics and treatment, progress in sequencing chemistry, and the development of cloud-based bioinformatics.
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What Are The Main Drivers Boosting The Next-Generation Sequencing (NGS) In Precision Medicine Industry’s Expansion?
The increasing occurrence of genetic disorders is anticipated to stimulate the expansion of the next-generation sequencing (NGS) in precision medicine market moving forward. Genetic disorders are conditions or diseases stemming from irregularities in an individual’s DNA, which can be passed down or emerge from mutations. The frequency of genetic disorders is escalating as advancements in diagnostic technologies, such as genetic screening and next-generation sequencing, enable medical professionals to identify previously undetected cases, thus leading to a higher reported prevalence. Next-generation sequencing in precision medicine aids in detecting genetic mutations, facilitating accurate diagnosis, personalized treatment, and early intervention for these disorders. For example, in May 2024, according to the National Health Service, a UK-based government department, in England, approximately 17,000 people live with sickle cell disease, an inherited blood disorder, with around 250 new cases diagnosed each year. Consequently, the rising incidence of genetic disorders is driving the growth of the next-generation sequencing (NGS) in precision medicine market.
How Is The Next-Generation Sequencing (NGS) In Precision Medicine Market Segmented?
The next-generation sequencing (NGS) in precision medicine market covered in this report is segmented as
1) By Product And Service: Sequencing Instruments, Consumables And Reagents, Library Preparation Kits, Bioinformatics Software, Next-Generation Sequencing (NGS) Services
2) By Technology: Whole Genome Sequencing (WGS), Whole Exome Sequencing (Wes), Targeted Sequencing, Ribonucleic Acid (RNA) Sequencing, Single-Cell Sequencing
3) By Application: Oncology, Infectious Disease, Rare And Inherited Disorders, Prenatal And Reproductive Health, Pharmacogenomics
4) By End Use: Hospitals And Clinics, Academic And Research Institutions, Biopharmaceutical Companies, Diagnostic Laboratories, Contract Research Organizations (CROs)
Subsegments:
1) By Sequencing Instruments: Benchtop Sequencers, High Throughput Sequencers, Portable Sequencers
2) By Consumables And Reagents: Sequencing Reagents, Sequencing Chips, Flow Cells, Sample Preparation Reagents
3) By Library Preparation Kits: Deoxyribonucleic Acid (DNA) Library Preparation Kits, Ribonucleic Acid (RNA) Library Preparation Kits, Whole Genome Amplification Kits, Target Enrichment Kits
4) By Bioinformatics Software: Data Analysis Software, Data Management Software, Sequence Alignment Software, Variant Calling Software
5) By Next-Generation Sequencing Services: Whole Genome Sequencing Services, Whole Exome Sequencing Services, Targeted Sequencing Services, Ribonucleic Acid (RNA) Sequencing Services, Epigenomic Sequencing Services
Which Key Trends Are Expected To Influence The Next-Generation Sequencing (NGS) In Precision Medicine Market In The Coming Years?
Leading companies in the next-generation sequencing (NGS) in precision medicine market are concentrating on developing inventive solutions, such as multimodal DNA and RNA library kits, to boost the efficiency and accuracy of genomic analyses. A multimodal DNA and RNA library kit is a laboratory tool that enables the concurrent preparation of sequencing libraries from both DNA and RNA within a single workflow, allowing for comprehensive analysis of a sample’s genome and transcriptome. For example, in May 2024, Qiagen N.V., a Germany-based provider of sample and assay technologies for molecular diagnostics, introduced the QIAseq Multimodal DNA and RNA Library Kit. This next-generation sequencing solution facilitates multiomic studies and advances precision medicine by enabling streamlined DNA and RNA library preparation from a single sample. The kit supports whole genome and whole transcriptome sequencing and downstream target enrichment, assisting multiomic studies by combining optimized chemistry for DNA and RNA simultaneously. It reduces the need for large sample quantities and the labor-intensive procedures associated with traditional, separate DNA and RNA workflows. By improving efficiency in multiomic research, this kit propels precision medicine forward through enhanced biomarker discovery and a deeper understanding of diseases, particularly in cancer research.
Which Global Market Leaders Are Shaping The Future Of The Next-Generation Sequencing (NGS) In Precision Medicine Sector?
Major companies operating in the next-generation sequencing (NGS) in precision medicine market are Thermo Fisher Scientific Inc., Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., Bio-Rad Laboratories Inc., Exact Sciences Corporation, QIAGEN N.V., Natera Inc., Tempus Labs Inc., 10x Genomics Inc., BGI Genomics Co. Ltd., Guardant Health Inc., Caris Life Sciences Inc., Fulgent Genetics Inc., Twist Bioscience Corporation, Pacific Biosciences of California Inc., Macrogen Inc., Ultima Genomics Inc., Personalis Inc., Element Biosciences Inc., Genomenon Inc., Strand Life Sciences Pvt. Ltd., and Singular Genomics Systems Inc.
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Which Region Is Expected To Witness The Fastest Growth In The Next-Generation Sequencing (NGS) In Precision Medicine Market?
North America was the largest region in the next-generation sequencing (NGS) in precision medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in next-generation sequencing (NGS) in precision medicine report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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