Meticulous Research® has unveiled a report titled “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.” This report forecasts that the NGS informatics market will achieve $4.3 billion by 2030, growing at a CAGR of 15.4% over the forecast period. The growth drivers include significant R&D investments from pharmaceutical and biotechnology sectors, a rise in cancer and genetic disorders, the application of NGS in diagnostics and precision medicine, and advancements in NGS informatics solutions. Government initiatives promoting large-scale genomic sequencing projects further support this growth, despite challenges related to data confidentiality.
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The increased use of NGS informatics tools in clinical laboratories and hospitals, combined with the rising demand for bioinformatics and genomic data management solutions, is expected to create significant opportunities for market players. However, the shortage of skilled professionals proficient in NGS informatics tools is a notable challenge.
Market Segmentation Overview
The NGS informatics market is segmented by offering, which includes software (data analysis, interpretation, reporting, storage, and LIMS), deployment mode (web/cloud-based vs. on-premise), application (disease diagnosis, biomarker discovery, drug discovery, precision medicine, agriculture, and animal research), end users (pharmaceutical and biotechnology companies, hospitals, diagnostic labs, academic institutions), and geography. The report assesses industry competitors and examines market dynamics at both regional and country levels.
In 2023, the software segment is anticipated to capture the largest share of the NGS informatics market, attributed to its capabilities in processing, storing, and sharing vast NGS and genomic datasets effectively and securely.
The application segment reveals that drug discovery is likely to account for the largest market share in 2023. This trend is driven by declining sequencing costs and the ability of NGS solutions to identify numerous mutations linked to genetic disorders, facilitating drug discovery efforts.
When examining end users, the pharmaceutical and biotechnology companies are expected to dominate the market in 2023, thanks to increasing sequencing information, heightened R&D activities, and a trend toward outsourcing research to CROs.
Geographic Landscape
The research report provides a detailed geographic analysis, focusing on key regions such as North America (U.S. and copyright), Europe (Germany, France, U.K., Italy, Spain, and other European nations), Asia-Pacific (China, Japan, India, and the wider Asia-Pacific region), Latin America (Brazil, Mexico, and the rest of Latin America), and the Middle East & Africa.
North America is expected to maintain the largest market share of the NGS informatics sector in 2023, followed by Europe and Asia-Pacific. The U.S. is forecasted to be the largest market player within North America, largely driven by increasing R&D expenditures, the presence of leading NGS informatics companies, supportive government initiatives for genomics research, and favorable reimbursement conditions for NGS testing.
Conclusion
The next generation sequencing informatics market is poised for remarkable growth, underpinned by advances in technology, escalating research investments, and the expanding adoption of NGS technologies in various fields. While challenges related to data privacy and skill shortages persist, the market presents significant opportunities for stakeholders to innovate and capitalize on emerging trends.
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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.).
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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