Unleashing the Potential of the NGS Informatics Market Worth $4.3 Billion by 2030
Meticulous Research®’s New Publication
Meticulous Research®, a global leader in market research, has published a new 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.”
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Projected Market Growth
The NGS informatics market is projected to reach $4.3 billion by 2030, with a compound annual growth rate (CAGR) of 15.4%. This growth is largely driven by increased R&D investments in pharmaceuticals and biotechnology, a rising prevalence of cancer and genetic disorders, and the expanded use of NGS in diagnostics and precision medicine. However, data confidentiality issues may impede growth.
Opportunities and Challenges
The adoption of NGS informatics tools in clinical settings, along with the growing need for genomic data management solutions, creates significant growth opportunities. However, the lack of skilled professionals capable of operating these tools poses a notable challenge.
Market Segmentation Details
The NGS informatics market is segmented based on offerings (software, services), applications (including diagnostics and drug discovery), end users (pharmaceutical companies, hospitals), and geographic regions. The software segment is expected to dominate in 2023, driven by its efficiency in processing large datasets.
Application Trends
Among applications, drug discovery is anticipated to lead the market in 2023, propelled by declining sequencing costs and NGS’s ability to reveal mutations associated with genetic disorders.
End User Dynamics
Pharmaceutical and biotechnology companies are projected to dominate in market share in 2023 due to their extensive R&D efforts and increased reliance on sequencing information.
Geographic Analysis
The report offers a comprehensive analysis of major global regions, with North America expected to capture the largest share of the NGS informatics market in 2023, supported by increased R&D expenditures and favorable governmental initiatives.
Conclusion
The NGS informatics market is on a growth trajectory, driven by technological advancements and increasing applications in healthcare. Addressing data privacy concerns and improving workforce skills will be essential for realizing the market's full potential.
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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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