Next Generation Sequencing (NGS) Informatics Market to be Worth $4.3 Billion by 2030

Meticulous Research®-a leading global market research company, published a research 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.'

According to this latest publication from Meticulous Research®, the next generation sequencing (NGS) informatics market is projected to reach $4.3 billion by 2030, at a CAGR of 15.4% during the forecast period. The growth of the NGS informatics market is driven by increasing R&D investments by pharmaceutical and biotechnology companies, the rising prevalence of cancer and genetic disorders, the growing utilization of NGS in disease diagnostics and precision medicine, technological advancements in NGS informatics solutions, and government initiatives supporting large-scale genomic sequencing projects. However, data confidentiality concerns restrain the growth of this market.

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The increasing adoption of NGS informatics tools among hospitals and clinical laboratories and the growing use of bioinformatics and genomic data management solutions for large-scale data analysis and interpretation are expected to create growth opportunities for the players operating in the NGS informatics market. However, the lack of skilled professionals required to operate NGS Informatics tools is a major challenge for market growth.

Next Generation Sequencing (NGS) Informatics Market: Future Outlook

The next generation sequencing (NGS) informatics 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 the regional and country levels.

Based on offering, in 2023, the software segment is expected to account for the largest share of the next generation sequencing (NGS) informatics market. The benefits offered by software, such as processing, storing, and sharing large volumes of NGS and genomic datasets with higher scalability, speed, and security, coupled with the increasing demand and need for scalable genomic data storage, are factors that contribute to the large market share of this segment.

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Based on application, the next generation sequencing (NGS) informatics market is segmented into disease diagnoses, biomarker discovery, drug discovery, precision medicine, agriculture, and animal research. In 2023, the drug discovery segment is expected to account for the largest share of the next generation sequencing (NGS) informatics market. The rapidly decreasing cost of sequencing per base, the potential of NGS informatics solutions to reveal a large number of mutations linked to genetic diseases and identify target genes for possible drug discovery, the increasing adoption of sequencing in pharmaceutical and biotechnological companies generating large volumes of data for research purposes, and the increasing R&D expenditure for new drug discovery are factors contributing to the significant market share of this segment.

Based on end user, the next generation sequencing (NGS) informatics market is segmented into pharmaceutical & biotechnology companies, hospitals and diagnostic laboratories, academic & research institutes, and other end users. In 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the next generation sequencing (NGS) informatics market. The large market share of this segment is attributed to factors including the increasing sequencing information in pharmaceutical and biotechnology companies, the high capability of sequencing of pharmaceutical and biotechnology companies for research due to high R&D activities, rise in outsourcing R&D projects to CROs, and the continual reduction in the cost of sequencing are factors contributing to the significant market share of this segment.

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Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and the Middle East & Africa.

In 2023, North America is expected to account for the largest share of the next generation sequencing (NGS) informatics market, followed by Europe and Asia-Pacific. Furthermore, in 2023, the U.S. is expected to be the largest market shareholder in North America. The growth of this market is primarily attributed to the increasing R&D expenditure by the pharmaceutical & biotechnology industry, the presence of leading NGS informatics market players in the region, favorable government initiatives for genomics research, growing applications of NGS-based research, increasing cancer prevalence and genetic diseases, and favorable reimbursement scenario for NGS-based tests in the region.

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.).

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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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