Next-Generation Sequencing Market size was estimated at USD 8.3 billion in 2023.

The Next-Generation Sequencing (NGS) market is on a robust growth trajectory, fueled by its transformative impact on genomics research, clinical diagnostics, and precision medicine. The advent of NGS technology, which enables massively parallel sequencing of DNA, has significantly accelerated our ability to decode entire genomes with remarkable speed and cost-efficiency. The COVID-19 pandemic notably accelerated the adoption of NGS technologies as pharmaceutical and biotechnology companies worldwide intensified their research efforts to develop vaccines and diagnostic tools. For example, Oxford Nanopore Technologies’ MinION Mk1C played a pivotal role in China by sequencing COVID-19 samples, showcasing NGS’s critical role in the pandemic response. Furthermore, the integration of NGS into clinical diagnostics by companies such as Pediatrix Medical Group and GeneDx Inc. underscores its expanding role in healthcare, especially in newborn care.