FREMONT, California, October 31, 2018
FREMONT, California, October 31, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled 'Global NGS Informatics and Clinical Genomics Market - Analysis and Forecast, 2018-2028', the global NGS informatics and clinical genomics market was estimated to be $836.0 million in 2017 and is expected to grow over $5.88 billion by 2028. The global NGS informatics and clinical genomics market is expected to grow at a double-digit CAGR of 19.8% from 2018 to 2028, driven by the increasing number of genomic projects conducted worldwide, the plummeting cost of genome sequencing, and increased focus on reducing the cost of cancer care by making use of genomic profiling for every person.
Browse 157 market Data Tables and 307 Figures spread through 354 Pages and in-depth TOC on 'Global NGS Informatics and Clinical Genomics Market'
Whole genome sequencing (WGS) and targeted gene panels hold the potential to become the standard of care for cancer patients. This potential is further bolstered with the plummeting cost of next-generation sequencing tests. The first human genome cost was approximately $2.7 billion to be sequenced during the most widely known collaborative research program called the Human Genome Project. And since the last decade, the cost of sequencing 1MB (megabase /1 million bases of DNA) of DNA has declined significantly as if it followed the Moore's law (a comparison matrix that determines the success of a technology).
Overall, the market is strongly driven by a number of factors such as rise in the volume of genetic data, rapidly increasing the number of government funds toward the facilitation of precision medicine, and strong demand for early diagnosis and effective treatment of chronic diseases. The high volume of genomic data is fueled by the reduced costs of genome sequencing which has significantly led to the inflation of genomic datasets. The situation further gets complex with the addition of multi-omics as well as electronic medical/electronic health records (EMR/HER). This multi-dimensional explosion of patient-related data is creating a big data problem. In other terms, patient data also follows the big data 5 V model which refers to Volume, Velocity, Variety, Veracity, and Value.
According to Swarup Chakrabarty, Analyst at BIS Research, "North America is the leading contributor to the global NGS informatics and clinical genomics market. In 2017, in terms of revenue, the North America NGS informatics and clinical genomics market was valued $380.0 million which is anticipated to grow at a CAGR of 18.34% during the forecast period. This double-digit growth can be attributed to the increasing number of government-funded genomic projects to bolster precision medicine which in turn enhances the amount of NGS generated data to be analyzed with the help of NGS informatics tools." However, Asia-Pacific is the fastest growing region growing with a CAGR of 23.87% during the forecast period.
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This market intelligence report provides a multi-dimensional view of the global NGS informatics and clinical genomics market in terms of market size and growth potential. This research report aims at answering various aspects of the global NGS informatics and clinical genomics market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, partnerships, collaborations, business expansions, and mergers and acquisitions, among others.
This report is a meticulous compilation of research on more than 100 players in the market ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles 22 companies which comprise key players from the NGS informatics and clinical genomics market. Some of the market players include primary and secondary data analysis tools providers: such as Illumina (primary and secondary), ThermoFisher (primary and secondary), Qiagen (primary and secondary), Edico Genome (secondary only), and Genalice, among others. In addition, there is a plethora of companies providing storage and computing solutions (such as Google Cloud, Amazon Web Services and Microsoft, among others), LIMS solutions (such as Thermo Scientific Clinical LIMS, Core LIMS, and STARLIMS, among others) and data interpretation and reporting tools (such as Qiagen (QCI Interpret), Genoox, and Annai Systems, among others)
Key questions answered in the report:
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