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The rising adoption of NGS informatics tools in hospitals and clinical laboratories, along with the growing demand for bioinformatics and genomic data management solutions, is likely to create significant opportunities for players in the market. However, a notable challenge remains in the form of a shortage of skilled professionals required to effectively operate NGS informatics tools.
Detailed Market Segmentation
The NGS informatics market is segmented by offering, including software (data analysis, interpretation, reporting, storage, and LIMS), deployment modes (web/cloud-based and on-premise), application areas (disease diagnoses, biomarker discovery, drug discovery, precision medicine, agriculture, and animal research), end users (pharmaceutical and biotechnology companies, hospitals, diagnostic laboratories, academic institutions), and geography. The report offers a comprehensive analysis of industry competitors and market trends at both regional and country levels.
In 2023, the software segment is anticipated to dominate the NGS informatics market, owing to its efficiency in processing, storing, and sharing large volumes of NGS and genomic datasets with speed and security. This need for scalable data storage solutions emphasizes the segment's significance.
In terms of applications, the drug discovery segment is expected to capture the largest share of the market in 2023. Factors contributing to this trend include the declining costs of sequencing, the ability of NGS solutions to reveal numerous mutations related to genetic diseases, and the increasing adoption of sequencing by pharmaceutical and biotechnological companies for research purposes.
From an end-user perspective, pharmaceutical and biotechnology companies are projected to hold the largest market share in 2023. This dominance is driven by increasing sequencing activities and a trend toward outsourcing research projects to contract research organizations (CROs).
Geographic Insights
The report also delves into a geographical analysis, focusing on critical regions such as North America (U.S. and copyright), Europe (Germany, France, U.K., Italy, Spain, and other European countries), Asia-Pacific (China, Japan, India, and the wider Asia-Pacific area), Latin America (Brazil, Mexico, and the rest of Latin America), and the Middle East & Africa.
In 2023, North America is expected to account for the largest market share of the NGS informatics sector, followed by Europe and Asia-Pacific. The U.S. is anticipated to be the largest market player within North America, supported by increasing R&D spending, a robust presence of leading NGS informatics companies, favorable government policies for genomics research, and a supportive reimbursement framework for NGS-based testing.
Conclusion
The NGS informatics market is on a promising growth path, driven by various factors, including enhanced technology, increased R&D investments, and broader applications of NGS in healthcare and research. While challenges related to data privacy and workforce skill shortages exist, the overall outlook remains optimistic, with ample opportunities for market players to innovate and expand their reach.
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Key Players
The key players operating in the next generation sequencing (NGS) informatics market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Sapio Sciences, LLC (U.S.), DNASTAR, Inc. (U.S.), Fabric Genomics, Inc. (U.S.), Partek Incorporated (U.S.), and DNAnexus, Inc. (U.S.).
Key questions answered in the report:
- Which are the high-growth market segments in terms of offering, application, end user, and region/country?
- What was the historical market size for next generation sequencing (NGS) informatics across the globe?
- What are the market forecasts and estimates for the period 2023–2030?
- What are the major drivers, restraints, challenges, and opportunities in the global next generation sequencing (NGS) informatics market?
- Who are the major players in the global next generation sequencing (NGS) informatics market?
- How is the competitive landscape, and who are the market leaders in the global next generation sequencing (NGS) informatics market?
- What are the recent developments in the next generation sequencing (NGS) informatics market?
- What are the different strategies adopted by the major players in the next generation sequencing (NGS) informatics market?
- What are the geographical trends and high growth regions/countries?
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