The Global NGS Market is Estimated to Reach a CAGR of 13.97%

Thursday 22 June 2023, Amsterdam

The global NGS market is estimated to reach $28.47 billion in 2033, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 13.97% during the forecast period 2023-2033.

The global NGS market is anticipated to be influenced by various factors during the forecast period 2023-2033. The key factors driving the market growth include the decreasing cost of genome sequencing, the potential of NGS in the field of oncology, the growing number of population-wide genomic studies and government initiatives to support the advancement and integration of NGS in healthcare, and the advantages of NGS technology over other technologies.

Analyst Perspective

To emphasize the potential of the market, Swati Sood, Principal Analyst – BIS Research, states, “With the growing applications of NGS in healthcare, such as the diagnosis of diseases and technological advancements in NGS platforms, are driving the growth of the market. This market is expected to register significant growth during the forecast period 2023-2033.”

Key Companies Operating in The Market

The global NGS market is highly consolidated, with around six key players accounting for a vast majority of the market share. Key players in the global NGS market analyzed and profiled in the study involve established players that offer various kinds of NGS platforms, consumables, and services.

The key players profiled in the report include BGI Group, Illumina, Inc., Thermo Fisher Scientific Inc., Pacific Biosciences of California, Inc., Oxford Nanopore Technologies plc., Agilent Technologies, Inc., Qiagen N.V., Pillar Biosciences, Burning Rock Biotech Limited, Singular Genomics Systems, Inc., DANAHER CORPORATION, F. Hoffmann-La Roche Ltd, Twist Bioscience Corporation, Revvity, Inc., and Centogene N.V.