NGS Informatics Market To Reach USD 34.3 Billion By 2032 | DataHorizzon Research
The next generation sequencing (NGS) informatics market size was valued at USD 10.1 Billion in 2022 and is expected to reach a market size of USD 34.3 Billion by 2032 at a CAGR of 13.2%.
Fort Collins, Colorado, April 25, 2024 (GLOBE NEWSWIRE) -- *
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*The growing prominence of NGS informatics encourages the approach for NGS informatics in the forthcoming years.*
*NGS informatics* encompasses the computational analysis and interpretation of the vast datasets generated by Next-Generation Sequencing (NGS) technologies. This field is pivotal across various applications, spanning genomics research, precision medicine, and personalized healthcare. The notable growth in NGS informatics is chiefly fueled by advancements in genomic research and the emergence of personalized medicine.
NGS informatics plays a central role in translating genomic discoveries into actionable insights for personalized medicine. By scrutinizing genomic data, researchers and clinicians can identify genetic variations and biomarkers associated with specific diseases or responses to medications. This knowledge underpins the development of targeted therapies tailored to patients' individual genetic profiles. Customizing medical interventions based on an individual's genetic makeup holds transformative potential for healthcare. This approach necessitates NGS informatics solutions and promises to mitigate healthcare expenses, reduce adverse effects, and augment therapeutic efficacy. The advancements in genomic research and personalized medicine are propelling the adoption of NGS informatics across diverse sectors, including pharmaceuticals, biotechnology, and healthcare.
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*Segmentation Overview:*
*The NGS informatics market has been segmented into product type, application, end-user, and region.*
*Data analysis is the fast-growing segment for product type.*
· The market is segmented into informatics, data analysis, and management based on the product type. As the genomics industry undergoes continual expansion, the volume of genomic data being produced is experiencing an unprecedented surge. This presents notable challenges concerning these extensive datasets' storage, organization, and analysis. NGS informatics equips professionals with the necessary tools and technologies to adeptly manage and analyze this genomic data, empowering researchers and clinicians to navigate the substantial data outputs generated by NGS technologies efficiently.
*Drug discovery is the leading application segment.*
· The NGS Informatics market is segmented into several applications: drug discovery, genetic screening, and disease diagnosis. In drug discovery, NGS informatics helps examine genomic data by pinpointing potential drug targets, refining drug candidates, and comprehending disease mechanisms. This contributes to the creation of personalized therapies, thereby improving the efficacy of drugs. Growing demand for precision medicine, with customized treatment for individual genetic profiles, is expected to drive demand for NGS informatics over the forecast period.
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*NGS Informatics Market Report Highlights:*
· The NGS informatics market growth is anticipated at a *CAGR of 13.2% by 2032.*
· Demand for personalized healthcare, technological advances, and a rise in spending on healthcare boosts the NGS informatics industry.
· North America is a competitive market for NGS informatics owing to its burgeoning expenses in the pharmaceutical and healthcare sectors.
· Some prominent players in the NGS informatics market report include Illumina Inc., Agilent Technologies Inc., Thermo Fischer Scientific Inc., Qiagen N.V., F. Hoffmann- La Roche AG, Fabric Genomics Inc., DNASTAR Inc., Intrexon Bioinformatics Germany GmbH, Dnanexus Inc., Eagle Genomics Ltd., and others.
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