The global next-generation sequencing (NGS) market is undergoing a rapid transformation, driven by continuous technological innovation, increased demand for personalized medicine, and the expansion of clinical applications. According to Fortune Business Insights, the market is set to grow significantly in the coming years, with advancements in bioinformatics, data analytics, and sequencing platforms paving the way for a new era in genomics.
In 2024, the global next-generation sequencing (NGS) market was valued at USD 9.29 billion. It is projected to expand from USD 10.44 billion in 2025 to USD 27.55 billion by 2032, registering a compound annual growth rate (CAGR) of 14.9% over the forecast period.
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February 2024: Integrated DNA Technologies (IDT) announced a strategic collaboration with Element Biosciences, Inc. to streamline NGS workflows, aiming to simplify sequencing protocols and improve scalability across research and clinical environments.
Drivers of Market Growth: