Next-Generation Sequencing in Precision Medicine Market Size, Share & Trends Analysis Distribution by Product & Service (NGS Services, Sequencing Instruments, Consumables & Reagents, Bioinformatics Software, and Library Preparation Kits), Technology, Application, End-use, and Segment Forecasts, 2025-2034

Global Next-Generation Sequencing in Precision Medicine Market Size is valued at US$ 6.4 Bn in 2024 and is predicted to reach US$ 28.6 Bn by the year 2034 at an 16.4% CAGR during the forecast period for 2025-2034.

In the context of precision medicine, "next-generation sequencing" (NGS) refers to advanced DNA and RNA sequencing technologies that provide rapid, accurate, and comprehensive genetic material analysis. NGS may process millions of DNA fragments simultaneously, enabling researchers and clinicians to identify genetic variations, mutations, and biomarkers at a scale and speed never before achievable. NGS enables precision medicine by enhancing diagnosis, forecasting disease risk, and choosing the most effective treatments by tailoring medical interventions to each patient's distinct genomic profile. The market for next-generation sequencing in precision medicine is expected to grow significantly due to its revolutionary effects in providing precise, individualized diagnostics and treatments.

Additionally, the demand for genomic-based therapy customization to an individual's genetic composition is being driven by the rising prevalence of uncommon diseases, cancer, and genetic abnormalities. The industry is expanding more quickly due to the growing use of next-generation sequencing in pharmacogenomics, oncology, and rare illness diagnosis, as well as improved bioinformatics, falling sequencing prices, and supportive government regulations. Moreover, pharmaceutical companies use NGS to create targeted medications and find biomarkers. The next-generation sequencing in the precision medicine market is growing due to regulatory backing for companion diagnostics.

Competitive Landscape

Some of the Key Players in Next-Generation Sequencing in Precision Medicine Market are:

• Danaher
• Thermo Fisher Scientific
• Agilent Technologies
• Eurofins Scientific
• Pacific Biosciences (PacBio)
• Oxford Nanopore Technologies
• Takara Bio
• BGI Group (MGI Tech)
• QIAGEN
• Illumina
• Roche
• Merck KGaA
• BD (Becton, Dickinson and Company)
• 10x Genomics
• New England Biolabs
• Zymo Research
• Novogene
• Promega Corporation
• Revvity (formerly PerkinElmer)
• LGC Limited

Market Segmentation:

The next-generation sequencing in precision medicine market is segmented by product & service, technology, application, and end-use. By product & service, the market is segmented into ngs services, sequencing instruments, consumables & reagents, bioinformatics software, and library preparation kits. By technology, the market is segmented into rna sequencing, whole genome sequencing (wgs), targeted sequencing, whole exome sequencing (wes), and single-cell sequencing. The application segment included infectious disease, rare & inherited disorders, pharmacogenomics, oncology (cancer genomics), prenatal and reproductive health. By end-use, the market is segmented into hospitals & clinics, diagnostic laboratories, biopharmaceutical companies, academic & research institutions, and cros (contract research organizations).

By Product & Service, the Sequencing Instruments Segment is Expected to Drive the Next-Generation Sequencing in Precision Medicine Market

Technology breakthroughs, growing use of high-throughput platforms, and the growing need for customized treatments have all contributed to the sequencing instruments segment's greatest revenue share in the next-generation sequencing in precision medicine market in 2024. The ability to quickly, accurately, and economically sequence DNA and RNA is made possible by these tools, and it is crucial for customizing medical interventions to each patient's unique genetic profile. Additionally, major market participants' ongoing innovation to improve sequencing speed and lower operating costs is supporting the segment's growth.

Cargo Transport Segment by Application is Growing at the Highest Rate in the Next-Generation Sequencing in Precision Medicine Market

In 2024, the next-generation sequencing in the precision medicine market was driven by the oncology segment. Since tumors are complicated and heterogeneous, NGS is widely employed in biomarker discovery, tailored treatment, and cancer diagnostics. Demand is further fueled by rising cancer prevalence. Additionally, through tumor profiling, actionable mutation discovery, minimal residual disease (MRD) detection, and continuous resistance evaluation, NGS technology has revolutionized oncology. NGS is being used in oncology pathways at academic institutions, hospitals, and CROs to improve patient care. The convergence of testing standards and reimbursement structures cements the relevance of genomics in contemporary cancer care.

Regionally, North America Led the Next-Generation Sequencing in Precision Medicine Market

North America held the largest share in the next-generation sequencing in precision medicine market because of the region's technologically advanced healthcare research framework and widespread use of NGS technology in precision medicine. The most advanced healthcare system in North America also comprises biotechnology companies, research hospitals, and esteemed academic institutions. Additionally, strong healthcare infrastructure, government support for precision medicine, and large investments in genomic research all contribute to the expansion of the next-generation sequencing in precision medicine market.

Furthermore, the market for next-generation sequencing in precision medicine in Asia-Pacific is being pushed by rising healthcare spending and the rise in non-communicable diseases (NCDs). Additionally, APAC governments—including those of China, India, and Japan—are actively assisting genomic programs to promote precision medicine. The region also gains from smart partnerships with world leaders, cost-effective manufacturing, and rapid technological advancements by regional firms. The market for next-generation sequencing in precision medicine is growing quickly in Asia due to rising pharmaceutical R&D spending and growing public awareness of genetic testing.

Recent Developments:

• In Feb 2025: Roche introduced its innovative sequencing by expansion (SBX) technology, creating a novel category of next-generation sequencing. SBX chemistry, along with an advanced sensor module, provides ultra-rapid, high-throughput sequencing that is adaptable and scalable for diverse applications.

Next-Generation Sequencing in Precision Medicine Market Report Scope: