Beyond the Gene: Exploring the Impact of the Next-Generation Sequencing Services Market

Next-Generation Sequencing Services Market Growth & Trends

The Next-Generation Sequencing Services Market is forecasted to reach USD 24.48 billion by 2030, expanding at a compound annual growth rate (CAGR) of 22.68% from 2024 to 2030, according to a report by Grand View Research, Inc. Advances in NGS technology have significantly improved gene sequencing efficiency, reproducibility, and cost-effectiveness, driving its adoption in clinical laboratories and hospitals. Recent innovations focus on simplifying sequencing technology and enhancing its sophistication, which has fueled its widespread use among various end-users.

Over the last five years, NGS has transitioned from research applications to clinical use, with 14 countries launching large-scale genome sequencing programs. By 2025, nearly 60 million individuals are expected to have their genomes analyzed. Traditional disease testing service providers have expanded their offerings to include sequencing-based genetic tests. For instance, ARUP Laboratories introduced new coronavirus tests in March 2022, while IDbyDNA, Inc. collaborated to develop an NGS-based test for respiratory illnesses, assisting physicians in diagnosing pneumonia and other respiratory conditions.

The increasing demand for high-throughput sequencing within the pharmaceutical and biotechnology sectors has necessitated improvements in sequencing speed, platform efficiency, and workflow simplification. Companies are now focusing on enhancing sample amplification and purification technologies. In March 2022, Illumina, Inc. unveiled TruSight Oncology (TSO) Comprehensive (EU), a diagnostic tool designed to analyze multiple tumor genes and biomarkers, enabling personalized genomic decisions for cancer patients. This in vitro diagnostic (IVD) kit debuted in Europe, marking the beginning of its global rollout.

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Next-Generation Sequencing Services Market Report Highlights

• By service type, human genome sequencing held the largest revenue share in 2023 owing to greater penetration of whole genome and whole exome sequencing
• Gene regulation services, particularly small RNA sequencing and ChIP-seq, are anticipated to grow at a lucrative pace during the forecast period. Rising investment in RNA sequencing is fueling the growth of gene regulation services
• The larger revenue share of sequencing services as compared to other workflow steps can be attributed to an increase in the installation of sequencing platforms. High maintenance and recovery costs of this step have also resulted in greater revenue generation
• By end-use, the universities and other research entities segment held the largest revenue share in 2023 owing to the growing application of NGS technology for cancer prognosis as well as diagnosis and major projects taken up by academicians and universities
• North America dominated the market in 2023 owing to higher penetration of the technology in this region and the availability of funds to employ the technique and derive research findings for disease targeting

Next-Generation Sequencing Services Market Segmentation

Grand View Research has segmented the global next-generation sequencing services market report based on service type, workflow, end-use, and region

Next-generation Sequencing (NGS) Service Type Outlook (Revenue, USD Million, 2018 - 2030)

• Human Genome Sequencing Services
• Single Cell Sequencing Services
• Microbial Genome-based Sequencing Services
• Gene Regulation Services
• Small RNA Sequencing
• ChIP Sequencing
• Other Gene Regulation-based Services
• Animal & Plant Sequencing Services
• Other Sequencing Services

Next-generation Sequencing (NGS) Services Workflow Outlook (Revenue, USD Million, 2018 - 2030)

• Pre-sequencing
• Sequencing
• Data Analysis

Next-generation Sequencing (NGS) Services End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Universities & Other Research Entities
• Hospitals & Clinics
• Pharma & Biotech Entities
• Others

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