The global next generation sequencing informatics market (NGS informatics market) will grow at a CAGR of 22.1% during the forecast period to reach USD 1,305.1 million by 2022, according to the latest publication from Meticulous Research®. The global next generation sequencing informatics market (NGS informatics market) is driven by the reduced cost of DNA sequencing with the use of NGS informatics, various government initiatives, rising clinical applications, substitution of Microarray technology by NGS, continuous innovation & developments in technology, and increasing investments and funding for life sciences, pharmaceutical, and biotechnology research. Moreover, growing investments in the personalized medicine and increasing initiative from governments to promote the use of NGS informatics is further propelling the growth of NGS informatics market globally. However, lack of accuracy & standardization of technology, ethical challenges, and reduced grants and funding from government in various countries are expected to inhibit the growth of NGS informatics market to some extent.
The global NGS informaticsmarket is mainly segmented by product & services (NGS informatics services, data analysis and management tools, primary and secondary data analysis tools, and data interpretation &reporting tools), by function (biological interpretation, experimental design, sequencing, data management, and primary analysis), by application (biomarker discovery, precision medicine, diagnostics, drug discovery, and differential gene expression), by end user (academics and research institutes, pharmaceuticals industry, biopharmaceuticals industry, government agencies, and hospitals & clinics), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
North America held the major share in the global NGS informatics market, followed by Europe and Asia-Pacific. Increasing demand for clinical information technology, various government initiatives and availability of funds, and promotion of NGS by research laboratories and academicians are the major factors fueling the growth of NGS informatics market in North America. In addition, the presence of many bioinformatics players in this market improves the product accessibility which further propels the growth of the market.However, Asia-Pacific region possesses lucrative growth potential for the NGS informatics market during the forecast period. This is mainly attributed to the increasing population, rising rate of diseases and various government initiatives to promote the genomic research to understand the complex biological process and genetic mutation present in life-threatening diseases, in order to reduce the rising rate of chronic diseases and infectious diseases in this region.
Global Next Generation Informatics Market, By Geography, 2017- 2022
The leading companies have employed various strategies to expand their product and application offerings, global footprint, and augment their market share in the global market. The key players in the global NGS informatics market are Illumina, Inc.(U.S.), Thermo FisherScientific Inc.(U.S.), Qiagen N.V.(The Netherlands), F. Hoffmann-La Roche AG (U.S.), PerkinElmer Inc. (U.S.), BIOVIA (Dassault Systèmes) (U.S.), Amazon Web Services LLC(U.S.), International Business Machines Corporation (U.S.), GENEWIZ, Inc.(U.S.), Beijing Genomics Institute (BGI) (China), BioTeam Inc. (U.S.), Biomatters Ltd. (New Zealand), DNAnexus, Inc. (U.S.), DNASTAR, Inc. (U.S.), Eagle Genomics (U.K.), Edge Biosystems (U.S.), Genomatix AG (Germany), Partek Incorporated (U.S.), PierianDx, Inc. (U.S.), Real Time Genomics, Inc. (New Zealand), SoftGenetics, LLC (U.S.), and Sapio Sciences (U.S.).
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