Meticulous Research® has published a detailed 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." The report projects that the NGS informatics market will reach $4.3 billion by 2030, growing at a CAGR of 15.4% during the forecast period.
The market's growth is driven by rising R&D investments by pharmaceutical and biotechnology companies, increasing cancer and genetic disorder incidences, greater use of NGS in diagnostics and precision medicine, technological advancements, and government initiatives supporting large-scale genomic projects. However, concerns over data confidentiality are limiting growth.
The increasing adoption of NGS informatics tools in hospitals and clinical labs and the growing use of bioinformatics and genomic data management solutions for large-scale data analysis are expected to create growth opportunities. However, a significant challenge is the shortage of skilled professionals to operate NGS informatics tools.
Next Generation Sequencing (NGS) Informatics Market: Future Outlook
The market is segmented based on Offering (Software [Data Analysis Software, Data Interpretation and Reporting Tools, Data Storage and Computing Tools, Laboratory Information Management Systems {LIMS}], Deployment Mode [Web and Cloud-based, On-premise], NGS Informatics Services); Application (Disease Diagnoses, Biomarker Discovery, Drug Discovery, Precision Medicine, Agriculture and Animal Research); End User (Pharmaceutical & Biotechnology Companies, Hospitals and Diagnostic Laboratories, Academic & Research Institutes, Other End Users); and Geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.
Offering Segment
In 2023, the software segment is expected to dominate the NGS informatics market due to software's ability to process, store, and share large volumes of NGS and genomic data efficiently and securely, and the increasing need for scalable genomic data storage.
Application Segment
The NGS informatics market includes disease diagnoses, biomarker discovery, drug discovery, precision medicine, agriculture, and animal research. In 2023, the drug discovery segment is projected to hold the largest market share, driven by the decreasing cost of sequencing, the capability of NGS informatics to detect genetic mutations, and increased R&D spending for new drug discovery.
End User Segment
The market is segmented into pharmaceutical & biotechnology companies, hospitals and diagnostic laboratories, academic & research institutes, and other end users. Pharmaceutical & biotechnology companies are expected to dominate the market in 2023 due to the increasing use of sequencing information, high R&D activities, rising outsourcing of R&D projects, and decreasing sequencing costs.
Geographic Analysis
The report analyzes major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to lead the NGS informatics market in 2023, followed by Europe and Asia-Pacific. The U.S. is anticipated to be the largest market in North America, driven by high R&D expenditure, the presence of key market players, supportive government initiatives, extensive NGS-based research applications, and a favorable reimbursement scenario for NGS tests.
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.).
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=3483
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?
Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research