Table of Contents
Overview
New York, NY – June 25, 2025 – Global Sequencing Market was valued at US$ 17.3 Billion in 2024 and is expected to grow at a CAGR of 21.4% from 2024 to 2034. In 2024, North America led the market, achieving over 49.3% share with a revenue of US$ 8.5 billion.
The global sequencing market is witnessing robust expansion, driven by advancements in genomic technologies and the increasing adoption of precision medicine. By product, the market is segmented into consumables, instruments, and services. Among these, consumables continue to dominate revenue generation due to recurring demand in sequencing workflows. Instruments are evolving rapidly with innovations in next-generation sequencing (NGS) platforms that improve throughput and accuracy, while services are gaining momentum through the growth of outsourced sequencing projects.
In terms of application, oncology holds the largest share, supported by the growing use of sequencing in cancer diagnosis and treatment planning. Clinical diagnostics is another key segment, benefiting from the rise of personalized medicine and non-invasive testing. Other emerging applications include agrigenomics, forensics, and microbial studies, which are expanding the scope of sequencing technologies beyond traditional research environments.
By end-user, academic and research institutes remain the primary users, owing to substantial funding in genomic research. Pharmaceutical and biotechnology companies are increasingly leveraging sequencing for drug development and biomarker discovery. Hospitals and clinics are also witnessing growing adoption, particularly in clinical genomics and disease risk assessment.
With increasing government support, favorable regulatory policies, and falling sequencing costs, the global market is poised for sustained growth. The convergence of bioinformatics, cloud computing, and sequencing technologies is expected to further accelerate innovation and market penetration across sectors.
Key Takeaways
- The global sequencing market was valued at USD 17.3 billion in 2024 and is projected to grow significantly, reaching USD 37.0 billion by 2034, registering a compound annual growth rate (CAGR) of 21.4% during the forecast period.
- In 2024, the consumables segment emerged as the leading product category, accounting for 49.2% of the total revenue share in the global sequencing market.
- Based on application, the oncology segment held the largest market share in 2024, contributing 37.4% to the global revenue, driven by increasing demand for genomic profiling in cancer care.
- By end user, biotechnology and pharmaceutical companies led the market, generating 39.2% of the total revenue share in 2024, due to their extensive use of sequencing in drug development and biomarker discovery.
- Regionally, North America dominated the global sequencing market in 2024, capturing over 49.3% of the total revenue, supported by advanced healthcare infrastructure, strong research funding, and high adoption of sequencing technologies.
Segmentation Analysis
- Product Analysis: The sequencing market by product is segmented into consumables, instruments, and services. In 2024, the consumables segment led the market with a 49.2% revenue share. This is attributed to the essential role of reagents, library preparation kits, and sequencing chips in DNA/RNA analysis. The rising adoption of next-generation sequencing (NGS) technologies has increased demand for high-quality consumables. Ongoing technological advancements have further improved performance and scalability, solidifying the dominance of consumables in the global sequencing workflow.
- Application Analysis: By application, the market is divided into oncology, clinical diagnostics, agrigenomics, forensics, and others. In 2024, oncology was the leading segment with 36.2% market share, driven by rising cancer cases and advancements in precision oncology. Sequencing supports detection of tumor-specific mutations and enables the development of personalized therapies. Liquid biopsies and NGS-based diagnostics are also gaining traction for early cancer screening. This application continues to push innovation, making sequencing a key tool in targeted cancer care.
- End-User Analysis: End-users in the sequencing market include pharmaceutical & biotechnology companies, academic and government research institutes, hospitals & clinics, and others. In 2024, pharmaceutical and biotechnology firms dominated with a 39.2% share. Their leadership is due to strong investments in R&D and growing reliance on sequencing for drug development and biomarker discovery. Reduced sequencing costs and rising demand for precision medicine have further supported adoption. Strategic collaborations with research institutes are also enhancing clinical translation and market innovation.
Market Segments
By Product
- Consumables
- Instruments
- Services
By Application
- Oncology
- Clinical Diagnostics
- Agrigenomics
- Forensics
- Others
By End-User
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals & Clinics
- Others
Regional Analysis
The North America sequencing market is witnessing robust growth, supported by active involvement from research institutions, pharmaceutical companies, and healthcare providers. Genomic technologies have become central to disease research and drug discovery, driven by the growing understanding of genetic expression’s role in human health.
The region has demonstrated a strong commitment to advancing genomic science through collaborative initiatives. For instance, in January 2022, Illumina, Inc. partnered with Nashville Biosciences, a subsidiary of Vanderbilt University Medical Center, to develop a clinical genomic resource aimed at accelerating drug development.
Furthermore, the U.S. market is projected to grow significantly during the forecast period, primarily due to the increasing cancer burden. The American Cancer Society estimates over 2 million new cancer cases and approximately 611,720 cancer-related deaths in the United States in 2024, underscoring the critical role of sequencing in oncology and precision medicine.
Emerging Trends
- Expansion of Public Health Sequencing Capacity: Significant investments have been made to modernize infectious-disease sequencing in public health settings. A $240 million award was granted to 64 state, territorial, and local public health laboratories in the United States to enhance next-generation sequencing (NGS) workflows, bioinformatics capacity, and data integration over a three-year period ending July 31, 2024.
- Global Genomic Surveillance Strategy: The World Health Organization has defined a global strategy whereby all 194 Member States will have timely access to pathogen genomic sequencing by 2032. This initiative emphasizes standardized data sharing to strengthen epidemic and pandemic preparedness worldwide.
- Rise of High-Accuracy Long-Read Sequencing: Long-read sequencing technologies, such as Pacific Biosciences’ HiFi platform, are achieving median accuracies exceeding 99.9% and resolving over 99.5% of homopolymers of five bases or longer. Such improvements are expanding applications in structural-variant detection and epigenetic studies.
- Decentralized Pathogen Genomics Laboratories: National and regional health agencies are establishing in-country sequencing centers. For example, in May 2025, the Fiji Centre for Disease Control opened its Pathogen Genomics Laboratory, enabling rapid local detection and characterization of bacterial and viral threats.
- Quality and Standardization Initiatives: To ensure consistency across public health labs, the CDC launched the NGS Quality Initiative in March 2024. This program provides proficiency testing and technical guidance to participating laboratories, supporting reliable, high-quality sequencing results.
Use Cases
- Outbreak Investigation and Pathogen Tracking: Public health laboratories funded under the CDC’s Advanced Molecular Detection program have used NGS to identify and track emerging SARS-CoV-2 variants and antimicrobial-resistant bacteria. Sixty-four laboratories received sequencing-and-analytics support to accelerate outbreak response and genomic epidemiology.
- Rare Disease Diagnosis via Long-Read Sequencing: In a clinical study, long-read whole-genome sequencing was applied to diagnose rare genetic disorders in 13 individuals. A solving rate of 41.67% (5 out of 12 evaluable patients) was achieved using 46–64× sequence coverage, demonstrating the utility of high-fidelity long reads in precision medicine.
- Population-Scale Gene Panel Screening: In a large‐scale genomic screening program, 99.6% of participants had successful genome sequencing completion. A targeted gene panel yielded a 3.7% screen-positive rate, illustrating sequencing’s role in early detection of hereditary conditions and informing public-health strategies.
- Enhancing Regional Surveillance in Low-Resource Settings: Regional laboratories in the South Pacific and Southeast Asia are integrating pathogen genomics into routine outbreak management. The Fiji Pathogen Genomics Laboratory launch exemplifies how sequencing capabilities are being extended beyond high-income countries to strengthen local disease monitoring and control.
Conclusion
The global sequencing market is set for sustained growth, driven by technological advancements, expanding clinical applications, and strong institutional support. Widespread adoption across oncology, diagnostics, and public health, combined with increased affordability and improved sequencing accuracy, is transforming healthcare and research.
Regional investments, especially in North America and Asia-Pacific, continue to bolster innovation and access. Strategic government initiatives, such as the WHO’s genomic surveillance goals and the CDC’s quality programs, further reinforce the market’s momentum. As sequencing becomes central to precision medicine and epidemic preparedness, its integration across global healthcare systems is expected to deepen in the coming decade.
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