COVINA, Calif., July 11, 2023 /PRNewswire/ -- According to Prophecy Market Insights "Next-Generation Sequencing Informatics Market accounted for US$ 9.23 billion in 2022 and is estimated to be US$ 35.3 billion by 2032 and is anticipated to register a CAGR of 13.5%"
What is the overview of Next-Generation Sequencing Informatics Market?
Next-generation sequencing informatics (NGS) tool has changed the genomic research by allowing scientist to sequence whole genome. These new advanced NGS technology has made the RNA sequencing and genome cost-effective and thus used as a tool for various research applications.
Growing government initiatives in promoting use of NGS in research & development activities has given positive impact on target market growth. Cost reduction with use of NGS informatics in sequencing has further facilitated the demand for market growth. Furthermore, rising demand for precision medicines wide applications of NGS in various diseases is anticipated to increase the demand for Next-Generation Sequencing Informatics Market growth over the forecast period.
What are the Recent News of Next-Generation Sequencing Informatics Market?
- In April 2022, Thermo Fisher Scientific launched new next generation sequencing (NGS) 'Ion Torrent Genexus Dx Integrated Sequencer' platform with CE-IVD marked for clinical laboratories to conduct clinical research and to perform diagnostic testing on a single instrument.
- In October 2018, Intrexon Corporation announced its bioinformatics hub in Munich as 'Intrexon Bioinformatics Germany GmbH' for improving quality of health and life of planet. The new launched bioinformatics hub is designed for scientists for developing robust model of biological reality to design discovery & applied research experiments platform. The company is also developing software tools including NGS (next generation sequencing), ChipSeq, microarray, and others.
Who are the Top Key players operating in the Next-Generation Sequencing Informatics Market?
- Agilent Technologies Inc.
- Amazon Web Services LLC
- Dnanexus Inc.
- F. Hoffmann-La Roche Ltd
- Intrexon Bioinformatics Germany GmbH (Genomatrix AG)
- Llumina Inc.
- Fabric Genomics Inc. (Omicia Inc.)
- Partek Incorporated
- Qiagen NV
- Sapio Sciences
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Report Scope:
Attribute | Details |
Base year for estimation | 2022 |
Forecast period | 2022 - 2032 |
Accounted in 2022 | US$ 9.23 billion |
Estimated to be in 2032 | US$ 35.3 billion |
CAGR | 13.5 % |
Market representation | Revenue in USD Billion & CAGR from 2022 - 2032 |
Market Segmentation | By Products and Services - NGS Informatics Services and Data Analysis and Management Tool. By Application - Drug Discovery, Genetic Screening, Diseases Diagnosis, Precision Medicine, and Other Applications. By End- User - Hospitals and Clinics, Academics and Research Institutes, and Pharmaceuticals Companies. |
Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Customization Scope | Avail of customized purchase options to meet your exact research needs. https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/4029 |
What is Prophecy's Analyst View on Next-Generation Sequencing Informatics Market?
Improved healthcare infrastructure and increasing awareness regarding the next-generation sequencing has become a leading factor in market growth. Growing investment in NGS by major companies due to rising demand for NGS services has fueled the market growth. Wide variety of applications of NGS in drug discovery, genetic screening, precision medicine and diagnosis of diseases is expected to provide lucrative opportunities in Next-Generation Sequencing Informatics Market growth in coming years.
What are new technologies and trends in Next-Generation Sequencing Informatics Market?
NGS informatics is undergoing significant advancements with the integration of artificial intelligence (AI) and machine learning (ML) algorithms for enhanced data analysis and interpretation. Cloud computing has emerged as a game-changer, offering scalable storage and collaborative capabilities. Additionally, advanced informatics platforms are integrating NGS data with other datasets, facilitating comprehensive analysis and visualization. These developments are driving improved diagnostics and groundbreaking discoveries in genomics research.
How does artificial intelligence (AI) and machine learning (ML) impact Next-Generation Sequencing Informatics?
Artificial intelligence (AI) and machine learning (ML) have a transformative impact on Next-Generation Sequencing (NGS) Informatics. They automate and accelerate data analysis, variant detection, and classification, enabling more accurate disease prediction and diagnosis. AI and ML techniques integrate NGS data with other datasets, enhancing interpretation and identifying potential therapeutic targets. Additionally, they optimize workflow efficiency, reducing manual effort and improving overall accuracy. AI and ML revolutionize NGS Informatics, accelerating genomics research and advancing precision medicine.
What are the potential opportunities for Next-Generation Sequencing Informatics Market?
- Precision Medicine: NGS Informatics enables personalized medicine through the identification of disease-causing genetic variations and targeted therapies.
- Clinical Diagnostics: NGS Informatics improves diagnostic accuracy by rapidly identifying genetic mutations, aiding in the diagnosis of genetic disorders.
- Drug Discovery and Development: NGS Informatics helps identify potential therapeutic targets and optimize drug development processes.
- Research and Genomics Studies: NGS Informatics facilitates large-scale genomic research, enabling a deeper understanding of diseases and biological processes.
- Agriculture and Livestock Improvement: NGS Informatics contributes to crop improvement, breeding programs, and livestock health by enabling genetic analysis and selection.
- Infectious Disease Surveillance: NGS Informatics enhances the identification and tracking of infectious disease outbreaks, aiding in surveillance and response strategies.
- Environmental Monitoring and Conservation: NGS Informatics assists in biodiversity studies, environmental monitoring, and conservation efforts by analyzing DNA and RNA samples from various ecosystems.
- Forensic Genetics: NGS Informatics improves forensic investigations through DNA analysis, helping in the identification and solving of criminal cases.
What are the challenges and opportunities for Next-Generation Sequencing Informatics market?
The Next-Generation Sequencing (NGS) Informatics market faces a combination of challenges and opportunities. Here are some key ones:
Challenges:
- Data Management: Dealing with large volumes of data generated by NGS requires efficient storage, processing, and analysis solutions.
- Data Standardization: Ensuring consistent data formats and standards across different platforms and technologies is a challenge for seamless data integration and interpretation.
- Computational Infrastructure: The demand for high-performance computing resources to handle complex NGS data analysis can be a hurdle for organizations lacking adequate infrastructure.
- Bioinformatics Expertise: The shortage of skilled bioinformaticians and data scientists proficient in NGS analysis can pose challenges in data interpretation and utilization.
Opportunities:
- Personalized Medicine: NGS Informatics enables the identification of genetic variations associated with diseases, facilitating targeted therapies and personalized treatment approaches.
- Clinical Diagnostics: NGS Informatics offers opportunities for improved accuracy and efficiency in diagnosing genetic disorders and identifying disease-causing variants.
- Drug Discovery and Development: NGS Informatics contributes to identifying therapeutic targets, optimizing drug development processes, and facilitating precision medicine approaches.
- Research Advancements: NGS Informatics supports breakthroughs in genomics research, enhancing understanding of complex diseases, drug response, and biological processes.
- Agricultural and Environmental Applications: NGS Informatics has potential applications in crop improvement, livestock breeding, biodiversity studies, and environmental monitoring.
- Collaborations and Partnerships: Opportunities arise through collaborations between NGS technology providers, bioinformatics companies, and research institutions to develop advanced informatics solutions and drive innovation.
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Key Reasons to Purchase the Report:
- Actionable Insights from Genomic Data
- Accelerated Discoveries in Genomics Research
- Seamless Integration of Genomic and Clinical Data
- Scalability and Cost-Efficiency
- Collaboration and Knowledge Sharing
- Regulatory Compliance with Data Standards
Conclusion:
The Next-Generation Sequencing (NGS) Informatics Market offers significant opportunities for genomics research and precision medicine. With advanced data analysis, improved diagnostics, and personalized medicine potential, NGS Informatics drives scientific advancements and enhances patient outcomes. The market provides scalable and cost-effective solutions, promotes collaboration and data sharing, and ensures regulatory compliance. Embracing NGS Informatics empowers stakeholders to accelerate discoveries, optimize workflows, and stay at the forefront of genomics research and healthcare innovation.
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