Next-generation Sequencing Informatics Market Insights 2030:
The global next generation sequencing informatics market size accounted for $933.18 million in 2020, and is projected to reach $3,186.69 million by 2030, registering a CAGR of 13.30% from 2021 to 2030. The next-generation DNA sequencing (NGS) technology has made genome and RNA sequencing cost-effective, and can be frequently used as a tool for a wide variety of research applications. This technology uses the bioinformatics methods to support DNA sequencing for researchers and organizations, making DNA sequencing easier.
Factors such as reduced cost of sequencing with the use of NGS informatics, increase in initiatives from government to promote use of NGS in R&D, enhanced speed & flexibility offered by NGS software, and continuous innovation & developments in the technology drive the growth of the global next-generation sequencing informatics market. Along with this, technological advancements in the field, increase in awareness and demand for precision medicines, and rise in investments by the major players in the market are propelling the growth of the next generation sequencing informatics market. However, lack of accuracy, precision, and standardization of the technology and dependence on government initiatives for the development of NGS technology hinder the market growth. There is also a scarcity of skilled labor and technicians in the market for NGS informatics services, which is causing a hurdle in the market growth. The ethical and legal limitations such as access to medical records and its distribution is also creating a negative impact over the market. Increased incorporation of NGS technology with other research programs, rise in prevalence of cancer and untapped market opportunities in emerging nations are expected to provide growth opportunities for the market.
Impact Of Covid-19 On Next-generation Sequencing Informatics Market (Pre And Post Analysis)
The outbreak of COVID-19 has disrupted workflows in the healthcare sector across the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. Although, the overall impact of the COVID-19 pandemic remained positive for key players in the next generation sequencing industry. The COVID-19 pandemic has stressed healthcare system in the world and increased the need to identify the strain of new coronavirus. Next generation sequencing offers an effective and unbiased way to identify the new strain of corona virus. A huge number of researches were conducted on DNA and RNA of corona virus to understand how it enters human cells and to learn about its pathogenesis. Next generation sequencing helps in understanding the evolving process of the COVID virus. It also helps in keeping a track over the transmission of the virus globally. Therefore, the COVID-19 pandemic is expected to significantly have a positive impact on the growth of the global next generation sequencing informatics market.
Next Generation Sequencing Informatics Market Segmentation
The next generation sequencing informatics market is segmented on the basis of product, application, end user, and region. By product, the market is classified into data analysis and management tools, NGS informatics services, and primary and secondary data analysis tools. The data analysis and management tools is sub-segmented into Laboratory Information Management System (LIMS), and Data Interpretation and Reporting Tools. The application segment is further classified based on drug discovery, diagnostics, biomarker discovery, precision medicine and agriculture & animal research. The end user segment is segmented into hospitals and clinics, academic and research centers, pharmaceutical companies and other end users. By region, the next generation sequencing informatics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Segment review
By product, the data analysis and management tools segment currently dominates the global next generation sequencing informatics market and is expected to continue during the forecast period owing to the demand and technological advancements in the NGS informatics tools.
By Product
Data Analysis and Management Tools Segment dominated the market in 2020 and would continue to maintain the lead over the forecast period.
By application, the biomarker discovery segment dominated the global next generation sequencing informatics market in 2020. This is attributed to increase in prevalence of cancer, as biomarkers have helped improve the quality of cancer treatment and advancement in technology in next generation sequencing informatics.
By Application
Biomarker Discovery segment held a dominant position in 2020.
By end user, the academic and research centers segment dominated the global next generation sequencing market in 2020 and is anticipated to continue this trend during the forecast period owing to increased application-based usage in these institutes and rise in oncology research.
By End Users
Academic and Research Centers segment held a dominant position in 2020.
Region segment review
Region wise, North America dominated the next generation sequencing informatics market in 2020, owing to presence of high per capita healthcare expenditure coupled with high patient awareness levels and high prevalence of target diseases in this region. However, Europe is expected to register increase in demand for next generation sequencing informatics and strong presence of key players of this region.
By Region
Asia- Pacific region would exhibit the fastest CAGR of 15.1% during the forecast period.
The key players in this next generation sequencing informatics market have adopted key developmental strategies such as product launches and collaboration. The major companies profiled in this report include Illumina, Inc., Thermo Fischer Scientific, Inc., Agilent Technologies Inc., F. Hoffmann-La Roche AG, Qiagen N.V., DNANexus Inc., Intrexon Bioinformatics Germany GmbH, Partek Incorporated, Fabric Genomics Inc., and Sapio Sciences.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global next generation sequencing informatics market along with the current trends and future estimations to explain the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the next generation sequencing informatics market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing next generation sequencing informatics market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and products of next generation sequencing informatics used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the next generation sequencing informatics market.
Next-generation Sequencing Informatics Market Report Highlights
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Analyst Review
This section provides various opinions of the top-level CXOs in next generation sequencing informatics market. In accordance with several interviews conducted, the utilization of such services is projected to witness a significant rise with growth in number of cancer and COVID-19 patients across the globe. It is expected to witness high adoption rate due to increase in distinct applications and interventions such as diagnostics, personalized medicine, and others.
As a technology, NGS is better and more advanced than its predecessors, especially microarray, owing to increased affordability of comprehensive sequence-based genomic analysis. The next generation sequencing informatics market has gained momentum in research, innovation, and development sectors, owing to surge in the number of genome mapping projects across the globe, significant technological advancements, and surge in the product launches, collaborations & partnerships among NGS product manufacturing companies and other organizations. In addition, rise in awareness regarding the NGS procedures and its advantages supplement the market growth. The North America region is expected to present lucrative growth opportunities to the key players in the industry.
According to the perspectives of CXOs of leading companies in the market, the demand for next generation sequencing informatics has increased significantly due to lower sequencing costs with the use of NGS informatics. In addition, the accuracy and precision in the results due to the introduction of better services are propelling the market growth. However, ethical & legal limitations remains a huge restrain in the market growth. According to the CXOs, the utilization of NGS informatics software is higher in academic and research centers as compared to other end users, as they are routinely used for genomics research, biomarkers detection, transcriptomics research, and other purposes. In addition, NGS manufacturers, developers and distributors have focused on expanding their presence in the emerging economies to expand their market outreach.
Next generation sequencing informatics helps in management, storage, data analysis and processes read sequences.
The total market value of Global Next Generation Sequencing Informatics Market is $933.18 million in 2020.
The forcast period for Global Next Generation Sequencing Informatics Market is 2021 to 2030.
The market value of Global Next Generation Sequencing Informatics Market in 2030 is $3,186.69 million.
Illumina, Inc., Thermo Fischer Scientific, Inc., Agilent Technologies Inc., F. Hoffmann-La Roche AG, Qiagen N.V. held a high market postion owing to the strong geographical foothold in different regions.
Data Analysis and Management Tools segment dominates the global market, owing to the rising demand and increasing technological advancements in the NGS informatics tools.
The major factor for the growth of Global Next Generation Sequencing Informatics Market are technological advancements in the NGS informatics tools, growing preference towards the personalized medicines, rising prevalence of Cancer diseases and rising investment by key players.
Owing to rise in the geriatic population in the market. Furthermore, increasing use of technology in academic and research centers and pharmaceutical companies.
The base year is 2020 in Global Next Generation Sequencing Informatics Market.
Next Generation sequencing informatics is used for metagenomics, gene expression, epigenetics, genomics research, biomarkers detection, and transcriptomics research.
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