Next Generation Sequencing Market Size

Next Generation Sequencing Market Size

Next Generation Sequencing Market size is anticipated to reach USD 8 billion in 2022. The industry is anticipated to grow at over 19% CAGR from 2023 to 2032 driven by favorable regulatory scenarios, especially in North America.

Rapid advancements in next-generation sequencing in developed nations are likely to stimulate business landscape.  NGS is a potent instrument for a variety of applications, including medical diagnostics, personalized treatment, and scientific research, and these technical improvements are fostering the market outlook. For instance, long-read sequencing techniques offered by Oxford Nanopore and PacBio can produce reads as long as several kilobases, making it possible to sequence parts of the genome that are challenging to sequence, such as repetitive sections, structural variants, and epigenetic changes.