NGS informatics Market

Market Synopsis:

Global NGS informatics market valued at USD 10.56 Billion in 2022 and is projected to reach a value of USD 37.85 Billion by 2030 at a CAGR of 17.30% over the forecast period.

The next-generation sequencing informatics market is predicted to witness higher growth during the forecast period owing to the enhanced speed and flexibility provided by NGS software, and continuous development and innovations in the technology. The reduced cost of sequencing with the use of NGS informatics, and the increased initiative of the government to promote the use of NGS in research and development are the factors predicted to drive the growth of the global Next-Generation Sequencing Informatics Market during the forecast period. Additionally, the awareness for precision medicines, and growth in investments by the key market players in the NGS informatics market are to propel the growth of the market during the forecast period. Moreover, the next-generation DNA sequence technology has made genome and RNA sequencing cost-effective and can be used frequently as a tool for various varieties of research applications which are projected to increase the demand for the NGS informatics market in the upcoming years. Whereas, this technology uses bioinformatics methods to assist DNA sequencing for researchers which makes DNA sequencing much easy. There is a huge number of applications of next-generation sequencing in personalized medicines, and thus the development of personalized medicines has opened many avenues for the NGS applications, which is predicted to accelerate the NGS informatics market growth in the coming years. Moreover, growth in the incorporation of NGS technology with other research programs, rise in the incidences of cancer, and intact market opportunities in the developing countries are projected to provide growth opportunities for the NGS informatics market in the coming years. Besides, absence of precision, standardization, and accuracy, of technology and dependence on government initiatives for the growth of NGS technology are the factors expected to hamper the growth of the NGS informatics market during the forecast period.

Market Segmentation:

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The Biomarker Discovery Component is Expected to Hold the Largest Share of the Application Segment

Based on application, the biomarker discovery segment is projected to dominate the global next-generation sequencing informatics market during the forecast period. The growth of the biomarker’s discovery segment is mainly attributed to growth in the incidences of cancer, as biomarkers have been supported to improve the quality of cancer treatment and development in technology in the next-generation sequencing informatics.

Academic and Research Centers to Dominate the End User Segment of the NGS informatics Market

Based on end-user, the academic and research center segment is predicted to hold the largest share of the next-generation sequencing informatics market during the forecast period. The academic and research center segment is witnessing the highest growth in the market during the forecast period owing to the increased application-based usage in these institutes and growth in oncology research.

North America is Expected to have Largest Share of the Global NGS informatics Market During the Forecast Period

The North American region is predicted to dominate the NGS informatics market owing to the presence of the high per capita healthcare disbursement united with high patient awareness levels and the increasing prevalence of target diseases in the North American region. Moreover, in the North American region, the United States acquires the largest market share. The increasing occurrences of chronic diseases are projected to drive the need for next-generation sequencing panels, which is driving the NGS informatics market growth during the forecast period. Various government bodies such as National Human Genome Research Institute in the United States are supportive of the research associated with the genome’s structure and functioning. Additionally, these organizations support the studies and research on legal, ethical, and social implications (ELSI) of the genome, which is expected to drive the NGS informatics market during the forecast period.

The Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period. The rapid growth of this region is due to the growth in the population, increasing rates of diseases, and the various government initiatives for the research of genome for understanding the complex biological progress and the genetic transformation present in the life-threatening diseases.

Competitive Landscape:

The NGS informatics market is highly consolidated in nature due to the presence of key players in the market and the adoption of their various strategies to stay competitive in the market are high project approvals and the new product launches. Some of the major key players in the market are Illumina Inc., Thermo Fisher Scientific Inc., Qiagen N.V., F. Hoffmann-La Roche AG, PerkinElmer Inc., BIOVIA (Dassault Systèmes), Amazon Web Services LLC, International Business Machines Corporation, GENEWIZ Inc., Beijing Genomics Institute (BGI), BioTeam Inc., Biomatters Ltd., DNAnexus Inc., DNASTAR Inc., Eagle Genomics, Edge Biosystems, Genomatix AG, Partek Incorporated, PierianDx Inc., Real Time Genomics Inc., SoftGenetics, LLC, Sapio Sciences..

NGS informatics Market is Segmented as Follows: