"Booming NGS Informatics Sector: Market Valued at $4.3 Billion by 2030"

Meticulous Research® has released a new report forecasting that the Next Generation Sequencing (NGS) Informatics market will experience significant growth, reaching an estimated value of $4.3 billion by 2030, with a compound annual growth rate (CAGR) of 15.4% over the forecast period. The expansion of this market is being propelled by several key factors, including the rising investment in R&D by pharmaceutical and biotechnology firms, the increasing incidence of cancer and genetic disorders, the growing application of NGS in disease diagnostics and precision medicine, and continuous technological advancements in NGS informatics. Additionally, government initiatives supporting large-scale genomic sequencing projects are further driving market growth. However, concerns surrounding data confidentiality remain a notable restraint on the market's expansion.

Opportunities and Challenges in the NGS Informatics Market

The widespread adoption of NGS informatics tools in hospitals and clinical laboratories, coupled with the growing utilization of bioinformatics and genomic data management solutions for large-scale data analysis, presents significant growth opportunities for market players. Despite this, the shortage of skilled professionals proficient in NGS informatics tools remains a considerable challenge that could impede market growth.

Market Segmentation and Insights

The NGS informatics market is comprehensively segmented based on Offering, Application, End User, and Geography. The report provides a detailed analysis of each segment, including competitive assessments at regional and country levels.

• Offering: The market is categorized into 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), and NGS Informatics Services. In 2023, the software segment is expected to dominate the market, driven by the increasing demand for scalable genomic data storage solutions that offer speed, security, and the ability to process and share large volumes of NGS and genomic datasets.

• Application: The market is segmented into Disease Diagnoses, Biomarker Discovery, Drug Discovery, Precision Medicine, Agriculture, and Animal Research. The drug discovery segment is anticipated to hold the largest market share in 2023, attributed to the decreasing cost of sequencing per base, the ability of NGS informatics solutions to uncover numerous genetic mutations linked to diseases, and the increased adoption of sequencing by pharmaceutical and biotechnology companies for extensive research purposes.

• End User: The market is divided into Pharmaceutical & Biotechnology Companies, Hospitals and Diagnostic Laboratories, Academic & Research Institutes, and Other End Users. Pharmaceutical & biotechnology companies are expected to account for the largest share of the market in 2023. This is primarily due to the increasing utilization of sequencing information by these companies, their substantial research capabilities supported by high R&D activities, and the growing trend of outsourcing R&D projects to contract research organizations (CROs).

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Geographic Insights

The report provides a comprehensive geographic analysis, covering major regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to lead the NGS informatics market in 2023, with the U.S. being the largest contributor. The region's dominance is attributed to the substantial R&D expenditure by the pharmaceutical and biotechnology industries, the presence of leading market players, favorable government initiatives for genomics research, the increasing application of NGS in research, the rising prevalence of cancer and genetic disorders, and a supportive reimbursement environment for NGS-based 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.).

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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This release was published on openPR.