PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1565706
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1565706
Next Generation Sequencing (NGS) Informatics Market size was valued at USD 9,980.78 Million in 2023, expanding at a CAGR of 14.01% from 2024 to 2032.
Next Generation Sequencing (NGS) Informatics refers to the computational and data analysis techniques used to process, analyze, and interpret the massive amounts of data generated by Next Generation Sequencing (NGS) technologies. NGS allows for the high-throughput sequencing of DNA, RNA, or other genetic material, generating vast datasets that require specialized tools for handling, analysis, and biological interpretation.
Next Generation Sequencing (NGS) Informatics Market- Market Dynamics
Increasing applications in clinical diagnostics and development of cloud-based NGS informatics is expected to propel market demand
NGS is increasingly being used in clinical diagnostics for cancer genomics, rare disease diagnosis, infectious disease detection, and pharmacogenomics. This expanding use in clinical settings requires robust informatics platforms to analyze genetic data quickly and accurately, accelerating the market's growth. Ongoing improvements in NGS technologies, such as higher sequencing accuracy, lower costs, and faster sequencing times, are driving the market. These advancements make NGS more accessible, increasing the demand for informatics solutions to manage and interpret the resulting data.
The growing shift toward cloud-based NGS informatics platforms allows researchers and clinicians to store and analyze large datasets without the need for significant infrastructure. Cloud-based solutions offer scalability, collaboration opportunities, and cost efficiency, which is driving adoption in the market. Governments, academic institutions, and private organizations are increasingly investing in genomics research. These investments fuel the demand for NGS informatics solutions, especially for research related to human diseases, agriculture, and evolutionary biology. Collaborations between bioinformatics companies, pharmaceutical firms, and healthcare providers to develop innovative NGS solutions and informatics tools are driving market growth.
Next Generation Sequencing (NGS) Informatics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 14.01% over the forecast period (2024-2032)
Based on Product segmentation, the NGS informatics services segment was predicted to show maximum market share in the year 2023, owing to high adoption NGS information system in healthcare industry.
Based on Application segmentation, precision medicine segment was the leading Application segment in 2023, due to their benefits in providing tailored treatments.
Based on End User segmentation, hospitals & clinics segment was the leading End User segment in 2023, due to increasing demand from clinical applications.
On the basis of region, North America was the leading revenue generator in 2023, due to the high prevalence of chronic disorders & other targeted diseases.
The Global Next Generation Sequencing (NGS) Informatics Market is segmented on the basis of Product, Application, End User, and Region.
The market is divided into three categories based on Product: NGS Informatics Services, data analysis & management tools, and primary & secondary data analysis tools. The NGS Informatics Services segment dominates the market. The increasing demand for real-time data and adoption of cloud solutions is driving market growth.
The market is divided into four categories based on Application: drug discovery, genetic screening, precision medicine, and others. The precision medicine segment dominates the market. The genetic screening segment is anticipated to expand at the fastest CAGR with the development in genomics thereby boosting market growth.
The market is divided into four categories based on End User: hospitals & clinics, academic research, biopharmaceutical companies, and others. The hospitals & clinics segment dominates the market and is expected to maintain its high dominance during the forecast period. Rising developments in healthcare infrastructure & NGS system is fueling segment growth.
Next Generation Sequencing (NGS) Informatics Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, particularly the U.S., is the largest market for NGS informatics. It accounts for a significant share of the global market, driven by advanced healthcare infrastructure, high research and development (R&D) spending, and the presence of major NGS technology provider. Europe holds a considerable share of the NGS informatics market, with major growth in countries like the UK, Germany, France, and the Netherlands. Latin America represents an emerging market for NGS informatics.
The Next Generation Sequencing (NGS) Informatics market is intensely competitive in nature. Companies are expanding their Next Generation Sequencing (NGS) Informatics by integrating cloud computing, AI, and machine learning technologies. Cloud computing is transforming the market, enabling scalable, efficient, and cost-effective data storage and analysis, as seen with Illumina's BaseSpace and PierianDx's Clinical Genomics Workspace. Companies are increasingly focusing on clinical diagnostics, particularly in oncology, rare diseases, and reproductive health, to meet the growing demand for personalized medicine. Several companies, like IBM Watson Genomics and Illumina, are incorporating AI and ML to streamline the analysis and interpretation of NGS data, enhancing precision in diagnostics and research.
In May 2022, NanoString Technologies introduced cloud-based data analysis using Illumina NextSeq1000 and NextSeq 2000 sequencing system.
In March 2022, ARUP launched a new bioinformatics platform for fast Next-Generation sequencing tests.