Market players are expected to continue to develop software solutions to simplify the NGS workflow and automate processes in order to cater to the needs of healthcare organizations and academic research centers.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled NGS Informatics Market – A Global and Regional Analysis.
According to this study, the global NGS informatics market was valued at $1.38 billion in 2021 and is projected to reach $6.71 billion by 2032.
The following factors are responsible for the increase in demand for NGS informatics:
- The low cost of sequencing platforms is increasing public access to NGS testing, thereby improving the adoption of NGS informatics solutions.
- 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 fueling the demand for NGS.
- A 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.
- The 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.
- Advancements in big data technology will enable better storage and management of NGS data, thereby leading to more demand for NGS and higher adoption of NGS software.
- Government initiatives to support the advancement of NGS are expected to lead to higher demand for NGS informatics software.
The detailed study is a compilation of 12 market data tables and 164 figures spread through 222 pages.
Check out the detailed table of content here:
Analyst’s Take on the Market Projection
According to Swati Sood, Principal Analyst – BIS Research, “With the increasing clinical applications of NGS, the demand for NGS informatics has increased worldwide. The global NGS informatics market is expected to witness significant growth due to factors such as low cost of sequencing platforms, rise in adoption of NGS informatics solutions, growing importance of population genomic studies, and initiatives of the government for the market.”
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Major Existing Industry Leaders in the NGS Informatics Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- Abbott Laboratories
- Agilent Technologies, Inc.
- Azenta, Inc.
- BGI Genomics Co., Ltd.
- DNAnexus, Inc.
- Eagle Genomics
- Hoffmann-La Roche Ltd.
- Genalice BV
- Illumina, Inc.
- Partek Incorporated
- PerkinElmer, Inc.
- Precigen, Inc.
- QIAGEN N.V.
- SOPHiA GENETICS SA
- Thermo Fisher Scientific Inc.
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.
- In July 2021, Francisco Partners signed a definitive agreement to acquire the STARLIMS informatics product suite and related businesses.
- In April 2021, Agilent acquired Resolution Bioscience to expand its role in the NGS market for precision oncology.
- In April 2021, Illumina Inc. and Kartos Therapeutics entered into a partnership to co-develop an NGS-Based TP53 companion diagnostic based on Illumina’s genomic profiling assay.
Asia-Pacific Region to Witness Maximum Growth During the Forecast Period
North America and Europe have a technologically advanced healthcare and genomics landscape, that has helped these regions in holding the maximum share in the global NGS informatics market for a while now.
However, as per the latest study conducted by BIS Research, it is the regions such as Asia-Pacific and Latin America that are projected to witness significant growth in the overall market of NGS informatics during the forecast period 2022-2032.
This observation is owing to factors such as the rigorous research and development (R&D) related to NGS, advancements in big data technology, and increasing clinical applications of NGS in cancer.
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