Next-generation Sequencing Informatics Market Expected to reach $3,186 million by 2030

According to a new report published by Allied Market Research, titled, “Global Next Generation Sequencing Informatics Market by Product, Application, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” 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.

A considerable rise in the usage and wide variety of applications of NGS technologies, especially in oncology research, reproductive health, diagnostics, and others, are expected to propel the growth of the next generation sequencing informatics market. The market for next generation sequencing products and technologies has witnessed tremendous growth in the recent years, due to surge in demand for this technique in genomics, transcriptomics, and other life science-related research areas.

NGS technology is widely employed in a wide range of research applications, including gene expression, metagenomics, epigenetics, and others. DNA sequencing generates a vast amount of data, which can be time-consuming to analyze. Next-generation sequencing informatics tools make analyzing sequencing data easier, allowing scientists to focus more on research and less on workflow configuration. The global next-generation sequencing informatics market is driven by factors such as lower sequencing costs with the use of NGS informatics, increased government initiatives to promote the use of NGS in R&D, increased speed and flexibility offered by NGS, and continuous innovation and developments in the technology. However, accuracy & standardization concerns and ethical & legal limitations associated with NGS restrain the market growth.

Scientists and researchers need sophisticated NGS technologies that streamline and analyze the results of the sequencing process. In addition, increase in number of products launches and collaborations among key players and health & research centers and technological advancements in NGS informatics fuel the growth of the market.

The outbreak of COVID-19 has disrupted workflows in the health care 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 health care 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.

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.

Increasing demand and need of NGS technologies has been witnessed throughout the world along with its growing awareness in the developing economies owing to its ease and applicability of NGS technologies. The advancements have been benefiting research endeavors in Asia and other developing regions of the world. Similarly, different genome based projects in these regions such as the China Genome, Qatar Genome Programs, and others, are fostering the growth of the market. A large population base, reducing costs of NGS technologies coupled with rise in awareness regarding NGS technologies in this region are expected to further provide numerous growth opportunities during the forecast period.

The next generation sequencing informatics market is segmented on the basis of product, application, end user, and region. On the basis of product, the market is divided into data analysis and management tools, NGS informatics services and primary and secondary data analysis tools. The Data Analysis and Management Tools dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to rising demand and increasing technological advancements in the NGS informatics tools.

On the basis of application, the market is classified into drug discovery, diagnostics, biomarker discovery, precision medicine, and agriculture & animal research. The biomarker segment dominated the next generation sequencing informatics market in 2020, and is expected to continue this trend throughout the forecast period, owing to a rise in the prevalence of cancer diseases.

On the basis of end user, the market is classified into hospitals and clinics, academic and research centers, pharmaceutical companies, and other end users. The academic and research centers segment dominated the market in 2020, and is expected to continue this trend throughout the forecast period, owing to increasing applications of the NGS technologies.

The key players in this next generation sequencing informatics market have adopted product launch as one of their key developmental strategies such as acquisitions and product launches. The major companies profiled in the 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 Findings Of The Study

• By product, the data analysis and management tools segment was the highest contributor to the market in 2020.
• By application, the biomarker segment was the highest contributor to the market in 2020.
• By end user, the academic and research centers segment was the highest contributor to the market in 2020.
• By region, North America garnered largest revenue share in 2020, whereas Asia-Pacific is anticipated to witness growth at the highest CAGR during the review period.