Rise in investments, technological advancements in NGS informatics tools, and preference toward personalized medicines drive the growth of the global next-generation sequencing information market.
PORTLAND, Ore., Dec. 21, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Next Generation Sequencing Informatics Market by Product (Data Analysis & Management Tools, NGS Informatics Services, and Primary and Secondary Data Analysis Tools), Application (Drug Discovery, Diagnostics, Biomarker Discovery, Precision Medicine, and Agriculture & Animal Research) and End User (Hospitals and Clinics, Academic and Research Centers, Pharmaceutical Companies, and Other End Users): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global next-generation sequencing informatics industry generated $933.18 million in 2020, and is estimated to reach $3.18 billion by 2030, growing at a CAGR of 13.3% from 2021 to 2030.
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Major determinants of the market growth
Rise in investments, technological advancements in NGS informatics tools, and preference toward personalized medicines drive the growth of the global next-generation sequencing information market. However, lack of skilled technicians for NGS informatics services and ethical & legal limitation hinder the market growth. On the contrary, rise in prevalence of cancer diseases is expected to open new opportunities for the market players in the future.
Covid-19 scenario:
- The NGS informatics helped in understanding the evolving process of the Covid-19 virus and keeping track of the transmission of the virus across the globe. Thus, the pandemic fueled the investments in the market.
- However, lockdown and restrictions on social gathering hampered the market and created shortage of workforce.
The data analysis and management tools segment dominated the market
By product, the data analysis and management tools segment held the largest share in 2020, accounting for more than half of the global next-generation sequencing information market, due to rise in demand and technological advancements in the NGS informatic tools. However, the NGS informatics services segment is projected to manifest the highest CAGR of 14.7% during the forecast period, owing to use of cloud computing and ability of services of managing enormous genomic data.
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The precision medicine segment to portray the highest CAGR through 2030
By incontinence type, the precision medicine segment is expected to portray the highest CAGR of 15.5% during the forecast period, due to rise in investment in R&D and rise in awareness around NGS application in precision medicine. However, the biomarker discovery segment held the largest share in 2020, contributing to more than one-third of the global next-generation sequencing information market, owing to rise in prevalence of cancer as biomarkers to improve quality of cancer treatment and developments in NGS informatics technology.
North America held the lion's share
By region, the market across North America dominated the market in 2020, accounting for around two-fifths of the market, due to presence of high per capita healthcare expenditure, high patient awareness levels, and high prevalence of target diseases. However, the global next-generation sequencing information market across Asia-Pacific is anticipated to register the highest CAGR of 15.1% during the forecast period, owing to rise in demand for NGS informatics and strong presence of key players.
Major market players
- Illumina, Inc.
- Agilent Technologies Inc.
- Thermo Fischer Scientific, Inc.
- Qiagen N.V.
- F. Hoffmann-La Roche AG
- Intrexon Bioinformatics Germany GmbH
- DNANexus Inc.
- Fabric Genomics Inc.
- Partek Incorporated
- Sapio Sciences
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