Meticulous Research® has released its report, "Next Generation Sequencing (NGS) Informatics Market by Offering (Data Analysis, Interpretation & Reporting, Storage & Computing, LIMS), Application (Diagnostic, Drug Discovery, Precision Medicine, Biomarker Discovery) End User - Global Forecast to 2030." The report forecasts that the NGS informatics market will reach $4.3 billion by 2030, growing at a 15.4% CAGR during the forecast period.
This growth is driven by increased R&D spending by pharmaceutical and biotechnology companies, a rise in cancer and genetic disorders, greater use of NGS in diagnostics and precision medicine, advancements in NGS informatics technology, and government support for large-scale genomic projects. However, data confidentiality concerns hinder market growth.
The adoption of NGS informatics tools in hospitals and clinical labs and the use of bioinformatics and genomic data management solutions for large-scale data analysis are expected to create growth opportunities for market players. Nonetheless, the lack of skilled professionals to operate NGS informatics tools poses a significant challenge.
Next Generation Sequencing (NGS) Informatics Market: Future Outlook
The NGS informatics market is segmented by Offering (Software [Data Analysis Software, Data Interpretation and Reporting Tools, Data Storage and Computing Tools, Laboratory Information Management Systems {LIMS}], Deployment Mode [Web and Cloud-based, On-premise], NGS Informatics Services); Application (Disease Diagnoses, Biomarker Discovery, Drug Discovery, Precision Medicine, Agriculture and Animal Research); End User (Pharmaceutical & Biotechnology Companies, Hospitals and Diagnostic Laboratories, Academic & Research Institutes, Other End Users); and Geography. The report evaluates industry competitors and analyzes the market at regional and country levels.
Offering Insights
The software segment is expected to dominate the NGS informatics market in 2023, due to software's ability to process, store, and share large volumes of NGS and genomic datasets efficiently and securely, and the growing need for scalable genomic data storage.
Application Insights
The NGS informatics market includes disease diagnoses, biomarker discovery, drug discovery, precision medicine, agriculture, and animal research. The drug discovery segment is projected to lead the market in 2023, driven by the decreasing cost of sequencing, the ability of NGS informatics to detect genetic mutations, and increased R&D spending for new drug discovery.
End User Insights
The market is segmented into pharmaceutical & biotechnology companies, hospitals and diagnostic laboratories, academic & research institutes, and other end users. Pharmaceutical & biotechnology companies are expected to dominate the market in 2023 due to increased sequencing information use, high R&D activities, rising outsourcing of R&D projects, and decreasing sequencing costs.
Geographic Review
The report covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to lead the NGS informatics market in 2023, followed by Europe and Asia-Pacific. The U.S. is anticipated to be the largest market in North America, driven by high R&D expenditure, the presence of key market players, supportive government initiatives, extensive NGS-based research applications, and a favorable reimbursement scenario for NGS tests.
Key Players
The key players operating in the next generation sequencing (NGS) informatics market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Sapio Sciences, LLC (U.S.), DNASTAR, Inc. (U.S.), Fabric Genomics, Inc. (U.S.), Partek Incorporated (U.S.), and DNAnexus, Inc. (U.S.).
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Key questions answered in the report:
- Which are the high-growth market segments in terms of offering, application, end user, and region/country?
- What was the historical market size for next generation sequencing (NGS) informatics across the globe?
- What are the market forecasts and estimates for the period 2023–2030?
- What are the major drivers, restraints, challenges, and opportunities in the global next generation sequencing (NGS) informatics market?
- Who are the major players in the global next generation sequencing (NGS) informatics market?
- How is the competitive landscape, and who are the market leaders in the global next generation sequencing (NGS) informatics market?
- What are the recent developments in the next generation sequencing (NGS) informatics market?
- What are the different strategies adopted by the major players in the next generation sequencing (NGS) informatics market?
- What are the geographical trends and high growth regions/countries?
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