Identifying Opportunities in NGS Informatics Market Projected at $4.3 Billion by 2030
Meticulous Research® has issued a pivotal 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 projects that the NGS informatics market will reach $4.3 billion by 2030, exhibiting a CAGR of 15.4% during the forecast period. Factors driving this growth include increased R&D investment from pharmaceutical and biotechnology sectors, a rise in cancer and genetic disorders, and the expanding application of NGS in diagnostics and precision medicine. Additionally, government initiatives promoting large-scale genomic sequencing projects support this growth, though challenges related to data privacy remain significant.
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The growing use of NGS informatics tools in clinical settings presents opportunities for bioinformatics and genomic data management solutions, essential for processing large datasets. However, the lack of skilled professionals capable of managing these tools continues to pose challenges.
In-Depth Market Segmentation
The NGS informatics market is segmented based on offering, including software (data analysis, interpretation, reporting, storage, and LIMS), deployment modes (web/cloud-based and on-premise), applications (diagnostics, biomarker discovery, drug discovery, precision medicine, agriculture, and animal research), end users (pharmaceutical and biotechnology companies, hospitals, diagnostic laboratories, academic institutions), and geography. This report provides a comprehensive evaluation of competitors and market dynamics at regional and national levels.
In 2023, the software segment is expected to dominate the NGS informatics market, driven by its efficiency in processing, storing, and sharing extensive genomic datasets.
The drug discovery segment is projected to hold the largest market share in 2023 due to declining sequencing costs and the ability of NGS to identify numerous mutations related to genetic conditions.
Among end users, pharmaceutical and biotechnology companies are expected to dominate the market share in 2023, driven by increasing sequencing information and heightened R&D activities.
Regional Analysis
The report also delves into a geographic analysis, focusing on key regions such as North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the rest of Europe), 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.
In 2023, North America is expected to maintain the largest share of the NGS informatics market, followed by Europe and Asia-Pacific. The U.S. is projected to be the leading market player in North America, driven by increasing R&D expenditures, the presence of leading NGS informatics companies, and favorable government policies for genomics research.
Conclusion
The NGS informatics market is set for significant growth, supported by advances in technology, rising investments in research, and expanding applications of NGS technologies across various fields. While data security concerns and workforce skill gaps present challenges, the overall market outlook remains optimistic, with ample opportunities for innovation and growth.
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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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