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Next-Generation Sequencing Informatics Market 2019-2024 Ongoing Trend | Growing at Remarkable CAGR of 16.92% with TAgilent Technologies , Amazon Web Services, F. Hoffmann-La Roche , Intrexon Bioinformatics Germany GmbH, and Illumina

05-13-2019 05:07 PM CET | Health & Medicine

Press release from: Market Prognosis

The next-generation sequencing informatics market was valued at USD 1,263.50 million in 2018 and is expected to reach USD 3,210.56 million by 2024, with an anticipated CAGR of 16.92%, during the forecast period (2019-2024).

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The major factors driving the growth of the market studied are the increasing clinical applications of next-generation sequencing (NGS), technological advancements in NGS informatics tools, growing preference toward personalized medicines and early disease diagnosis, and increasing demand for NGS services and investments by key players. Applications include whole genome and transcriptome sequencing, metagenomic characterization of microbial types in environmental and clinical specimens, explanation of DNA binding sites for chromatin and regulatory proteins, and targeted re-sequencing of specific sites in the human genome, identified by linkage analyses. The unavailability of skilled professionals for the analysis and data interpretations of NGS data, along with the lack of knowledge of new informatics tools among medical professionals, is likely to limit the growth of the market studied. Additionally, the high cost involved in the maintenance and security of informatics tools is likely to contribute to the limitation.

Competitive Landscape
The next-generation sequencing informatics market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising patient awareness levels and high prevalence of target diseases, few other smaller players are expected to enter the market. Some of the major players of the market are Agilent Technologies Inc., Amazon Web Services Inc., F. Hoffmann-La Roche Ltd., Intrexon Bioinformatics Germany GmbH, and Illumina Inc., among others.

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Key Market Trends
Genetic Screening Segment, by Application, is Expected to Experience the Fastest Growth Rate in the Market
There are several companies in the market that provide NGS services for a range of genetic disorders and screening of DNA, RNA, and specialized samples like T-cells and B-cells, such as MedGenome. In the files of clinical medical genetics, the molecular diagnosis to detect inherited genetic defects requires massive parallel sequencing. For the analysis of exome sequencing, there are multiple publicly available single nuclear polymorphism (SNP) databases, population allele frequency, and computational algorithms for function prediction, for the detection of bulk of variants in genetic screening.
There is a high scope of technological improvement in the application of NGS, in genetic testing. In 2014, Mayo Clinic developed a 50-gene cancer panel test (CANCP), in order to help tailor chemotherapy, based on the unique genome signature of each patient’s tumor. Recently, NGS-based genetic screening and interpretation have been useful for improving hearing-loss testing. Recently, as per a paper published in 2018, in the Journal of Fertility and Sterility, the pre-implantation genetic screening using NGS, significantly improved the pregnancy outcomes as compared to an array of comparative genomic hybridization. Therefore, NGS has a large number of varied application through genetic screening in multiple disorders, but their affordability and availability in high-income and low-income countries may differ a lot. Thus, steady growth is expected in the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market throughout the forecast period. The presence of high per capita healthcare expenditure, coupled with high patient awareness levels and high prevalence of target diseases, is contributing to the growth of the market studied in the region. In the North American region, the United States holds the largest market share.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

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