Next-Generation Sequencing Market Poised for Major Growth by 2029
New York, Tuesday, 14 October 2025.
The NGS market is projected to reach $18.99 billion by 2029, driven by demand for advanced diagnostics and informatics solutions, marking a significant opportunity for stakeholders.
Rising Demand in Precision Medicine
The next-generation sequencing (NGS) market, particularly in precision medicine, is expected to see significant growth. Projections indicate that the market will expand from $5.47 billion in 2024 to $6.42 billion in 2025, representing a compound annual growth rate (CAGR) of 17.3% [1]. By 2029, the market is anticipated to further increase to $12.03 billion, driven by factors such as government support for genomics research, rising genetic disorders, and the development of nationwide biobank initiatives [1].
Technological Advancements and Trends
Key trends shaping the NGS market include advancements in bioinformatics powered by artificial intelligence (AI), improvements in sequencing chemistry, and the adoption of cloud-based bioinformatics solutions. These innovations are expected to enhance the accuracy and accessibility of sequencing technologies, making them more integral to clinical diagnostics [1]. Additionally, the integration of multi-omics platforms and AI-powered bioinformatics is poised to revolutionize data analysis in genomics [2].
Market Players and Competition
Major players in the NGS market include Thermo Fisher Scientific Inc., Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., and Bio-Rad Laboratories Inc. These companies are at the forefront of developing advanced sequencing technologies and bioinformatics tools, which are crucial for the expansion of precision medicine [1][2]. The competitive landscape is characterized by strategic partnerships and acquisitions designed to enhance product offerings and expand market reach [3].
Future Outlook and Regional Growth
The Asia-Pacific region is projected to experience the most rapid growth in the NGS market, driven by increasing investments in genomics and a growing focus on personalized medicine [2]. By 2029, the NGS informatics market alone is forecasted to reach a value of $18.99 billion, with a CAGR of 16.7% from 2025 to 2029 [2]. This growth underscores the need for stakeholders to stay informed about emerging opportunities and competitive dynamics in this evolving field.