Next-Generation Sequencing Services Market Size, Share, Growth Analysis, By Service type(Human Genome Sequencing, Single Cell Sequencing, Microbial Genome-based Sequencing, Gene Regulation Services), By Workflow(Pre-sequencing, Sequencing, Data Analysis), By Technology(Sequencing By Synthesis (SBS), Ion Semiconductor Sequencing (IOS), Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing), By Application(Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research), By End User(Universities & Other Research Entities, Hospitals & Clinics, Pharma & Biotech Entities, others), By Region - Industry Forecast 2024-2031

North America region held the largest Global next-generation sequencing services market share and accounted for approximately 45% revenue share during 2021 on account of features such a strong regulatory framework for the approval and use of genetic tests, an established informatics network, and the presence of market leaders in the area. Additionally, it is projected that the expanding number of FDA-approved genetic tests in the U.S. will fuel the local market throughout the course of the forecast period. Pharmaceutical businesses in North America are prioritising the introduction of comprehensive genome sequencing efforts, the establishment of reimbursement and regulatory guidelines for NGS-based diagnostic tools, and the creation of precision and personalised medicines.

Asia-Pacific region is anticipated to be the fastest-growing market for next-generation sequencing services during the forecast period. The next-generation sequencing market in China is booming as a result of the increased prevalence of particular diseases and the growing government support for the country's biotech sector. The increased focus of the major market players on supplying cutting-edge, efficient NGS technology to developing countries in order to address the demand for genomic therapies and whole-genome sequencing for individualised treatment is another factor driving the market expansion in this region. The national market for next-generation sequencing is anticipated to grow as a result of rising financing, increased government support, and strategic moves made by key industry participants.