According to the TechSci Research report, “Next Generation Sequencing (NGS) Informatics Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028,” the Global Next Generation Sequencing (NGS) Informatics Market is expected to grow at an impressive CAGR from 2024-2028 due to the rising prevalence of cancer and reduced cost of DNA sequencing through the use of NGS informatics.
Next-generation sequencing involves using software to characterize and identify viral genomes. NGS also plays a vital role in studying the evolution of viruses. Compared to Sanger sequencing, NGS has emerged as the dominant genomics technology due to its cost-effectiveness and wide range of applications.
NGS offers various benefits such as cost-effectiveness, development of personalized medicine, and maintenance of human health by ensuring the genome of new viruses. However, stringent regulatory scenarios and a lack of trained clinical personnel for conducting NGS experiments may slow down market growth in the coming years. The lack of government programs to support the advancement of NGS and its software may also hinder market growth.
The Global Next Generation Sequencing (NGS) Informatics Market can be segmented by products & services, application, end-user, region, and company. In terms of products & services, the market includes storage and computing tools, commercial data analysis, data interpretation and reporting tools, NGS informatics services, and laboratory information management systems (LIMS). The commercial data analysis segment is expected to show impressive growth during the forecast period due to its ease in analysis, data interpretation, and reporting.
In terms of application, the market includes drug discovery, genetic screening, disease diagnosis, and others. The genetic screening segment dominated the market in 2022 and is expected to continue its dominance through 2028 due to the increasing prevalence of different types of cancer.
In terms of end-users, the market includes hospitals and diagnostic centers, pharmaceutical and biotechnology companies, academic and research institutions. Pharmaceutical and biotechnology companies dominated the market in 2022 due to their large number of research and development activities for identifying different types of diseases and conducting clinical trials for developing new technologies.
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The leading companies operating in the Global Next Generation Sequencing (NGS) Informatics Market are:
- Abbott Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- PerkinElmer, Inc.
- SOPHiA GENETICS SA
- Precigen, Inc.
- QIAGEN N.V.
- Illumina, Inc.
- Agilent Technologies, Inc.
- Eagle Genomics Limited
- BGI Genomics Co., Ltd.
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“North America is expected to dominate the Global Next Generation Sequencing (NGS) Informatics Market during the forecast period on account of rising prevalence of different diseases especially HIV, cancer, etc. Besides, rise in the number of government initiatives and rise in the number of skilled personnel is expected to increase the demand for Next Generation Sequencing (NGS) Informatics in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Next Generation Sequencing (NGS) Informatics Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, Segmented By Products & Services (Storage and Computing Tools, Commercial Data Analysis, Data Interpretation, and Reporting Tools, Next Generation Sequencing (NGS), Laboratory Information Management Systems (LIMS), By Application (Drug Discovery, Genetic Screening, Disease Diagnosis, and Others), By End User (Hospitals and Diagnostic Centers, Pharmaceutical and Biotechnology Companies, Academic and Research Institutions), By Region, ” has evaluated the future growth potential of Global Next Generation Sequencing (NGS) Informatics Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Next Generation Sequencing (NGS) Informatics Market.
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