NGS informatics and clinical genomics market

Next Generation Sequencing (NGS) Informatics Market – A Global Perspective

Next generation sequencing (NGS) informatics has been gaining importance owing to the important role it plays in strengthening the base of precision medicine in the healthcare industry with the study of large pool of genomics data. Precision medicine has lot of capability in terms of its ability to define diseases that are built on molecular characteristics and other environmental factors. Over the years, especially post the completion of Human Genome Project in 2003, genome sequencing technology has advanced in terms of both time taken for sequencing a genome and the cost involved in sequencing it. Further, with a rise in demand for the NGS data interpretation for the identification chronic diseases the volume of genomics data being gathered is also on the rise. In 2018 the total percentage of cost involved in the biological interpretation of the data is estimated as 33% of the to total cost to be invested followed by 29% in sequencing, however by 2028 it is expected that the cost involved in biological interpretation will around 56%, whereas the cost involved in sequencing of genomes will only be around 6%.

According to a market intelligence report published by BIS Research, titled ‘Global NGS Informatics and Clinical Genomics Market – Analysis and Forecast (2018 – 2028)’, the global market is expected to reach $5885.8 million by 2028 growing at a CAGR of 19.8%. The NGS market is driven by factors including the rising demand for early diagnosis and efficient treatment of chronic diseases, growing volume of the patient genetic data, and the increasing influx of funding from the governments, among others. However, on the flip side, the market is also facing challenges which are responsible for obstructing its growth are lack of reimbursement for interpretation, lack of standardization of global genomic data, and shortage of skilled professionals for analysis and interpretation of data, among others. Each factor whether it is driving the market or is impeding its growth has its own impact, and out of these the rise in the amount of genomic data will have the maximum impact on the market in the next six to ten years.

According to the market research report by BIS Research, based on the key regional markets, it is estimated that in 2018 the U.S. will lead the market with a revenue share of $416.6 million, followed by Germany with a revenue share of $62.1 million. Additionally, the global NGS informatics and clinical genomic market based on end user can be segmented as academics and research institute, biopharmaceutical industry, pharmaceuticals industry, government agencies, and hospitals & clinics. Among the listed end-user segments academic and research institutes account for 48% of the total market share, followed by biopharmaceutical industry with 32% of the market share.

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