Continued growth predicted for NGS
The demand in Next Generation Sequencing (NGS) technology shows no signs of slowing down as market research firm BCC Research predicts that the clinical NGS market will increase to more than $10.5 Billion by 2022. Within a similar time-frame, the Research firm, Frost & Sullivan predict that the European NGS Informatics market will nearly double in value, as the market is expected to reach $508.6 million by 2021.
As genome sequencing applications flourish and new initiatives such as personalised medicine begin to take shape, more companies are adapting software to make use of NGS data so it can be analysed as part of research initiatives. Some of these projects are even finding their way onto European supercomputers as the scope of the projects increases to take advantage of the potential for NGS.
As the capability for NGS matures alongside the falling cost of sequencing, computing power and storage, it is becoming an economically viable option for many different research applications.
BCC Research Predicts the Global Clinical Next-Generation Sequencing (NGS) Market is Expected to Grow at a CAGR of 27 per cent, from Nearly $3.2 Billion in 2017 to $10.5 Billion by 2022.
The report provides market data and forecasts for NGS diagnostics by specific applications, including those for cancer, cardiovascular diseases, clinical microbiology and infectious diseases, Mendelian disorders, metabolic and immune disorders, neurological disorders, reproductive health, and transplant medicine.
Frost & Sullivan split the NGS informatics market into three segments; secondary analysis, tertiary analysis, and data storage. The company predicts that the European NGS Informatics market was worth $236.6 million in 2016 and is expected to reach $508.6 million by 2021 at a CAGR of 16.5 per cent. Of this total market value, tertiary analysis represents the highest market share of 72 per cent, followed by secondary analysis at 22 per cent and data storage at 6 per cent.
In the report, the company notes that NGS informatics will soon reach a transformational period as ‘As NGS technologies mature and the market stakeholders develop clarity on industry requirements.’
This transformation will continue to drive growth within the market as ‘support from government and R&D labs, the launch of national-level genomic data collection initiatives, and expanding usage in the clinical space’ provide impetus to this growing market.