Yahoo Finance Global Next-Generation Sequencing (NGS) Informatics Markets, 2021 & 2022-2032 - Significantly Higher Representation of European Candidates in Large-Scale Genomic Research Studies
Global NGS Informatics Market
Dublin, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The "NGS Informatics Market - A Global and Regional Analysis: Focus on Products and Services, Application, End User, and Region - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The global NGS informatics market was valued at $1,380.0 million in 2021 and is projected to reach $6,715.0 million by the end of 2032. The market is expected to grow at a CAGR of 15.21% during the forecast period 2022-2032.
The market is driven by factors such as the low cost of sequencing platforms, increasing clinical applications of NGS in the field of oncology for the clinical management of cancer patients and mutation profiling, a tremendous rise in the amount of genomic data, the growing importance of population genomics studies and the establishment of various biobanks, advancements in big data technology, and government initiatives to support the advancement of NGS are expected to lead to higher demand for NGS informatics software.
Market Lifecycle Stage
The global NGS informatics market is in the development phase. The evolving regulatory landscape for clinical NGS and the growing number of gene mutations across various diseases are some of the major opportunities in the global NGS informatics market.
Impact of COVID-19
NGS can be used to sequence genomes of unknown organisms, owing to which it was extensively performed in research laboratories during the COVID-19 pandemic.
Research using NGS sequencing has been carried out in several countries globally, including countries in emerging regions such as Latin America and Middle East and Africa. Initiatives such as the "SARS-CoV-2 Sequencing for Public Health Emergency Response, Epidemiology, and Surveillance (SPHERES)" program by the Centers for Disease Control and Prevention (CDC) were also undertaken to promote the sequencing of the SARS-CoV-2 virus using NGS techniques. Furthermore, the emergence of the COVID-19 pandemic broadened the applications of NGS.
As a result, companies also developed NGS solutions for the genomic surveillance of the SARS-CoV-2 virus. Before the COVID-19 pandemic, NGS technology was particularly employed for the clinical diagnosis of cancers and other chronic diseases. The onset of the COVID-19 pandemic accelerated research in the use of NGS for sequencing the unknown variants of the SARS-CoV-2 virus.
Market Segmentation
Products and Services:The global NGS informatics market (by products and services) is expected to be dominated by the commercial data analysis tools, interpretation, and reporting tools segment.
Application:The global NGS informatics market (by application) is expected to be dominated by the genetic screening segment.
End User:The global NGS informatics market (by end user) is dominated by the pharmaceutical and biotechnology companies segment.
Region:The global NGS informatics market (by region) is dominated by the North America region.
Recent Developments in the Global NGS Informatics Market
In August 2022, Thermo Fisher Scientific Inc. launched CE-IVD (IVDD) NGS test and analysis software to expand access to precision oncology bio-market testing.
In June 2022, Thermo Fisher Scientific received CE-IVD Mark for NGS Aneuploidy Diagnostic Software Workflow.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some prominent established names in this market are:
Abbott Laboratories
Agilent Technologies, Inc.
Azenta, Inc.
BGI Genomics Co., Ltd.
DNAnexus, Inc.
Eagle Genomics
Euformatics
F. Hoffmann-La Roche Ltd.
Genalice BV
Illumina, Inc.
Partek Incorporated
PerkinElmer, Inc.
Precigen, Inc.
QIAGEN N.V.
SOPHiA GENETICS SA
Thermo Fisher Scientific Inc.
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report, wherever applicable.
Key Metrics
Report Attribute | Details |
No. of Pages | 222 |
Forecast Period | 2022 - 2032 |
Estimated Market Value (USD) in 2022 | $1630.5 Million |
Forecasted Market Value (USD) by 2032 | $6715 Million |
Compound Annual Growth Rate | 15.2% |
Regions Covered | Global |
Key Topics Covered:
1 Markets
1.1 Global Market Outlook
1.1.1 Product Definition
1.1.2 Inclusion and Exclusion Criteria
1.1.3 Key Findings
1.1.4 Assumptions and Limitations
1.2 Industry Outlook
1.2.1 Market Overview
1.2.1.1 Introduction
1.2.1.2 Evolution of NGS Technology
1.2.1.3 Workflow for NGS Informatics Market
1.2.1.4 Market Future Potential
1.2.2 Legal Requirements and Framework
1.2.2.1 Legal Requirements and Framework in the U.S.
1.2.2.1.1 U.S. Food and Drug Administration (FDA)
1.2.2.2 Legal Requirements and Framework in Europe
1.2.2.2.1 European Medicines Agency (EMA)
1.2.2.3 Legal Requirements and Framework in Asia-Pacific
1.2.2.3.1 China
1.2.2.3.1.1 National Medical Products Administration (NMPA)
1.2.2.3.2 Japan
1.2.2.3.2.1 Pharmaceuticals and Medical Devices Agency (PMDA)
1.2.3 Key Trends
1.2.3.1 Growing Adoption of Cloud-Based Solutions to Enable Easy Storage of the Large Amounts of NGS Data
1.2.3.2 Growing Automation of Sample/Library Preparation of the NGS Workflow Using NGS Informatics
1.2.3.3 Increasing Use of NGS in Clinical Trials to Select the Right Candidates
1.2.3.4 Significantly Higher Representation of European Candidates in Large-Scale Genomic Research Studies
1.2.4 Opportunity Assessment
1.2.5 Costs of Storage of NGS Data on Cloud
1.2.6 Product Benchmarking
1.2.7 Patent Analysis
1.2.8 Market Value Chain
1.3 Impact of COVID-19 on the Global NGS Informatics Market
1.3.1 Impact on NGS Research Related to the SARS-CoV-2 Virus
1.3.2 Impact on New Product Launches by Market Players
1.3.3 Comparison of Pre, During, and Post-COVID-19 Scenarios
1.4 Business Dynamics
1.4.1 Impact Analysis
1.4.2 Business Drivers
1.4.2.1 Low cost of sequencing platforms is increasing public access to NGS testing and thus improving the adoption of NGS informatics solutions.
1.4.2.2 Increasing clinical applications of NGS in the field of oncology for the clinical management of cancer patients and mutation profiling to identify subsequent treatment options is increasing the demand for NGS.
1.4.2.3 Tremendous rise in the amount of genomic data is driving the adoption of NGS informatics solutions for easy analysis of data as well as for its storage and computation.
1.4.2.4 Growing importance of population genomics studies and the establishment of various biobanks lead to extensive research throughout the world and help in advancing research and development in the genomics field.
1.4.2.5 Advancements in big data technology will enable better storage and management of NGS data, thus leading to more demand for NGS and higher adoption of NGS software.
1.4.2.6 Government initiatives to support the advancement of NGS are expected to lead to higher demand for NGS informatics software.
1.4.3 Business Restraints
1.4.3.1 Privacy challenges are expected to lead to concerns surrounding data privacy among people and thus hinder their participation in NGS studies.
1.4.3.2 Lack of trained clinical personnel for conducting NGS experiments and performing data analysis is expected to hinder the adoption of NGS software.
1.4.3.3 Poor reimbursement rates for NGS across the globe are expected to lead to a lack of interest in NGS and thus hinder the adoption of NGS software and services.
1.4.4 Business Opportunities
1.4.4.1 Evolving Regulatory Landscape for Clinical NGS
1.4.4.2 Growing Number of Gene Mutations across Various Diseases
2 Global NGS Informatics Market (by Products and Services)
2.1 Opportunity Assessment
2.2 Commercial Data Analysis, Data Interpretation, and Reporting Tools
2.3 Storage and Computing Tools
2.4 Laboratory Information Management Systems (LIMS)
2.5 NGS Informatics Services
3 Global NGS Informatics Market (by Application)
3.1 Opportunity Assessment
3.2 Drug Discovery
3.3 Genetic Screening
3.4 Disease Diagnosis
3.5 Others
4 Global NGS Informatics Market (by End User)
4.1 Opportunity Assessment
4.2 Hospitals and Clinics
4.3 Pharmaceutical and Biotechnology Companies
4.4 Academic and Research Institutions
For more information about this report visit https://www.researchandmarkets.com/r/9svhky-informatics?w=12
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