Next Generation Sequencing (NGS) Informatics Market is expected to be dominated by the commercial data analysis tools through 2028
Rising prevalence of cancer
and reduction in mass scale genetic testing cost is significantly expected to
drive the growth of Global Next Generation Sequencing (NGS) Informatics Market during
the forecast period.
According to
TechSci Research report, “Next
Generation Sequencing (NGS) Informatics Market - Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028”, the Global Next Generation Sequencing (NGS) Informatics
Market will grow with an impressive CAGR in the forecast period, 2024-2028 on
account of rising prevalence of cancer and reduced cost of DNA sequencing with the use of Next
Generation Sequencing (NGS) informatics.
Next
generation sequencing involves the use of software for the characterization and
identification of the viral genome. Additionally, Next Generation Sequencing
(NGS) plays a vital role in studying the evolving process of the virus. On
comparing Next Generation Sequencing (NGS) with Sanger sequencing, it emerged
as dominant genomics technology due to cost effectiveness and wide
applications.
There
are various benefits associated with Next Generation Sequencing (NGS) such as
cost effectiveness, development of personalized medicine, maintenance of human
health by ensuring the genome of new virus etc. However, stringent regulatory
scenario related to the lack of trained clinical personnel for conducting Next
Generation Sequencing (NGS) experiments can slow down the market growth in the
coming years. Also, the lack of Government program to support the advancement
of Next Generation Sequencing (NGS) and their software can further slowdown the
market growth.
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Global
Next Generation Sequencing (NGS) Informatics Market can be segmented into products
& services, application, end user, region, and company.
Based
on products & services, the market can
be segmented into storage
and computing tools, commercial data analysis, data interpretation, and reporting
tools, Next Generation Sequencing (NGS) informatics services, laboratory information
management systems (LIMS). The commercial
data analysis segment
is expected to show an impressive growth in forecast period due to the ease in
analysis, data interpretation, and reporting.
Based
on the application, the market can be classified into following categories, drug discovery, genetic screening,
disease diagnosis, and others. The genetic
screening
segment dominated the market in 2022 and will continue maintaining its
dominance through 2028 due to increasing prevalence of different types of
cancer.
Based
on end user, the market is classified into following categories i.e., hospitals and diagnostic centers,
pharmaceutical and biotechnology companies, academic and research institutions. The pharmaceutical and biotechnology
companies dominated
the market in 2022 on account of large number of research and development
activities for the identification of different type of diseases and clinical
trials for the development of a new technology.
The leading companies operating in the Global Next
Generation Sequencing (NGS) Informatics Market are:
- Abbott Laboratories, Inc.
- F. Hoffmann-La
Roche Ltd.
- PerkinElmer, Inc.
- SOPHiA GENETICS SA
- Precigen, Inc.
- QIAGEN N.V.
- Illumina, Inc.
- Agilent
Technologies, Inc.
- Eagle Genomics Limited
- BGI Genomics Co.,
Ltd.
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“North
America is expected to dominate the Global Next Generation Sequencing (NGS)
Informatics Market during the forecast period on account of rising prevalence
of different diseases especially HIV, cancer, etc. Besides, rise in the number
of government initiatives and rise in the number of skilled personnel is
expected to increase the demand for Next Generation Sequencing (NGS)
Informatics in the coming years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Next Generation Sequencing (NGS)
Informatics Market - Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2018-2028, Segmented By Products & Services
(Storage and Computing Tools, Commercial Data Analysis, Data Interpretation,
and Reporting Tools, Next Generation Sequencing (NGS), Laboratory Information
Management Systems (LIMS), By Application (Drug Discovery, Genetic Screening,
Disease Diagnosis, and Others), By End User (Hospitals and Diagnostic Centers,
Pharmaceutical and Biotechnology Companies, Academic and Research
Institutions), By Region, ” has evaluated
the future growth potential of Global Next Generation Sequencing (NGS)
Informatics Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Next Generation
Sequencing (NGS) Informatics Market.
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