Genomic sequencing is a method of determining the genetic makeup of an organism. Sequencing technologies have undergone several advancements in the past decade as researchers aim to improve the throughput and accuracy of base calling while also reducing costs.
Next-generation sequencing (NGS) is a massively parallel sequencing technology that is capable of sequencing millions of deoxyribonucleic acid (DNA) fragments simultaneously. The NGS workflow involves library/sample preparation followed by sequencing and data analysis. NGS has a wide range of applications, such as aiding in the diagnosis of various clinical conditions, automation of the NGS workflow, genetic screening, and selecting candidates for clinical trials. Moreover, NGS is also finding applications in areas beyond healthcare, such as in assessing the authenticity of food items, i.e., checking for cheaper substitutions of substances in food.
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.
Market Segmentation Based on Products and Services
The global NGS informatics market has been segmented into software solutions intended for storage and computing, tertiary data analysis, and automation and automating NGS workflows in laboratories, as well as NGS services such as sequencing services or consulting organizations in automating their NGS workflows
Market Segmentation Based on Application
The advantages of NGS, such as its high sensitivity, quantitative nature, high dynamic range, and lack of hybridization, make it suitable for drug discovery. NGS has been used in the various steps of drug discovery, such as target identification and screening of compounds. NGS also plays a key role in the identification of rare variants responsible for various diseases. Detecting these variations in individual genomes helps identify the best course of treatment that will be effective for an individual and allows a greater number of targeted genes to be added to the testing panel.
Regional Analysis
Regions such as North America and Europe have a technologically advanced healthcare and genomics landscape, due to which these regions hold the maximum share in the global NGS informatics market. Regions such as Asia-Pacific, Latin America, and Rest-of-the-World are anticipated to register significant growth during the forecast period 2022-2032 owing to factors such as the rigorous research and development (RD) related to NGS, advancements in big data technology, and increasing clinical applications of NGS in cancer.
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COVID-19 Impact and Post-COVID-19 Scenario
NGS can be used to sequence genomes of unknown organisms and was, therefore, extensively performed in research laboratories during the COVID-19 pandemic. NGS played a crucial role in advancing research aimed at tracing the origin of the SARS-CoV-2 virus, which is further expected to help control the spread of the virus. NGS technology can also be used to shed light on the mechanism of action of the SARS-CoV-2 virus and identify organs that are highly susceptible to infection.
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.
How can this report add value to an organization?
Products and Services: The products and services segment helps the reader understand the different types of NGS informatics products and services available in the market. Moreover, the study provides the reader with a detailed understanding of products that fall under the main segments, such as commercial data analysis, data interpretation and reporting tools, storage and computing tools, laboratory information management systems (LIMS), and NGS informatics services.
Growth/Marketing Strategy: The global NGS informatics market has witnessed major development by key players operating in the market, such as product launches, business expansions, partnerships, collaborations, mergers and acquisitions, funding activities, and regulatory and legal approvals. The favored strategy for the companies has been business expansions, partnerships, and collaborations to strengthen their position in the market. For instance, in July 2021, Francisco Partners signed a definitive agreement to acquire the STARLIMS informatics product suite and related businesses.
Competitive Strategy: The key players in the global NGS informatics market analyzed and profiled in the study involve established and emerging players that offer different products for NGS informatics. Moreover, a detailed competitive benchmarking of the players operating in the global NGS informatics market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Moreover, comprehensive competitive strategies such as partnerships, agreements, collaborations, mergers, and acquisitions will help the reader understand the untapped revenue pockets in the market.
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