Next-Generation Sequencing Market Projected to Reach USD 39.14 Billion by 2034, Expanding at a CAGR of 14.20%

Global Next Generation Sequencing (Ngs) Market size and share is currently valued at USD 10.4 billion in 2024 and is anticipated to generate an estimated revenue of USD 39.14 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 14.20% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034

Market Definition

Next Generation Sequencing (NGS) refers to advanced DNA sequencing technologies that enable high-throughput and rapid sequencing of entire genomes. NGS is revolutionizing genomics, personalized medicine, and research in oncology, infectious diseases, and rare genetic disorders. Factors such as reduced sequencing costs, increasing R&D investment, and growing demand for precision medicine are fueling market growth. However, data storage, analysis challenges, and regulatory constraints are ongoing concerns.

Key Report Highlights

The report highlights the key region that accounts for the highest revenue share in the global Next Generation Sequencing (Ngs) market.
It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.
The report outlines the dominant segment that holds a major share of the market.
It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.
Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance

Market size value in 2024 – USD 10.4 billion

Market size value in 2025 – USD 11.88 billion

Revenue Forecast in 2034 – USD 39.14 billion

CAGR – 14.20% from 2025 – 2034

Base year 2024

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Market Growth Drivers

The next generation sequencing (NGS) market is fueled by the increasing demand for high-throughput genomic analysis in fields like oncology, genetic disorders, infectious diseases, and personalized medicine. Declining sequencing costs and improvements in data accuracy have expanded its use in clinical diagnostics and research. Technological advancements, such as single-cell sequencing and nanopore technologies, further enhance NGS capabilities. The growing availability of funding for genomics projects and collaborations between academic institutions and biotech firms support continuous innovation. Additionally, the global focus on precision medicine and biomarker discovery boosts the use of NGS in therapeutic decision-making and drug development.

Market Key Players

The competitive landscape features a mix of long-standing companies and emerging contenders. Next Generation Sequencing (Ngs) Market Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include