Next Generation Sequencing (NGS) Informatics Market: Key Trends and Drivers Revealed by Research Report

According to 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 will grow with an impressive CAGR in the forecast period, 2024-2028 on account of rising prevalence of cancer and reduced cost of DNA sequencing with the use of Next Generation Sequencing (NGS) informatics.

Next generation sequencing involves the use of software for the characterization and identification of the viral genome. Additionally, Next Generation Sequencing (NGS) plays a vital role in studying the evolving process of the virus. On comparing Next Generation Sequencing (NGS) with Sanger sequencing, it emerged as dominant genomics technology due to cost effectiveness and wide applications.

There are various benefits associated with Next Generation Sequencing (NGS) such as cost effectiveness, development of personalized medicine, maintenance of human health by ensuring the genome of new virus etc. However, stringent regulatory scenario related to the lack of trained clinical personnel for conducting Next Generation Sequencing (NGS) experiments can slow down the market growth in the coming years. Also, the lack of Government program to support the advancement of Next Generation Sequencing (NGS) and their software can further slowdown the market growth.

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Global Next Generation Sequencing (NGS) Informatics Market can be segmented into products & services, application, end user, region, and company.

Based on products & services, the market can be segmented into storage and computing tools, commercial data analysis, data interpretation, and reporting tools, Next Generation Sequencing (NGS) informatics services, laboratory information management systems (LIMS). The commercial data analysis segment is expected to show an impressive growth in forecast period due to the ease in analysis, data interpretation, and reporting.

Based on the application, the market can be classified into following categories, drug discovery, genetic screening, disease diagnosis, and others. The genetic screening segment dominated the market in 2022 and will continue maintaining its dominance through 2028 due to increasing prevalence of different types of cancer.

Based on end user, the market is classified into following categories i.e., hospitals and diagnostic centers, pharmaceutical and biotechnology companies, academic and research institutions. The pharmaceutical and biotechnology companies dominated the market in 2022 on account of large number of research and development activities for the identification of different type of diseases and clinical trials for the development of a new technology.

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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