Market Trends of Next-Generation Sequencing Informatics Industry
This section covers the major market trends shaping the Next Generation Sequencing Informatics Market according to our research experts:
Genetic Screening Segment, by Application, is Expected to Experience the Fastest Growth in the Market
In genetic screening, the NGS technology is highly useful in identifying monogenic diseases with locus heterogeneity, such as blindness, deafness, movement disorders, mitochondrial disease, hereditary cancers, etc. It generates a large amount of sequencing data in a massively parallel manner to provide a differential diagnosis for the patient. There are several companies in the market that provide NGS services for a range of genetic disorders and screening of DNA, RNA, and specialized samples. For instance, according to the research article published in Genetics in Medicine 2021 by M. Mummmen, all the clinical genetic testing was restricted, telemedicine-based consultations and counseling were adopted globally, and most of the genetic testing services have adopted virtualization, along with home testing kits and home sample collection, to combat the transmission of the SARS-CoV2 virus. This might have further impacted the market's growth during the pandemic.
Additionally, NGS technologies have been extensively harnessed in oncology screening, and the high incidence of cancers worldwide is expected to drive the studied market. The increasing burden of cancers worldwide and the growing awareness among the global population of preventive diagnosis and personalized medicine are the major factors driving the cancer segment market over the forecast period. For instance, according to the American Cancer Society's July 2021 forecast, in 2021, 1,898,160 new cancer cases are projected to occur in the United States. Additionally, the new cancer incidence is estimated to reach 30.2 million by 2040, as per the International Agency for Research on Cancer (IARC). Thus, genetic screening aids in providing information on whether cancer runs in the family and the risk factors associated with the development of cancers in the future among individuals with a family history of cancer.
Thus, given the aforementioned factors, the genetic screening segment is expected to grow significantly over the forecast period.
North America Dominates the Market and Expected to do Similar Over the Forecast Period
North America is expected to dominate the overall market throughout the forecast period. The high per capita healthcare expenditure and high prevalence of target diseases are contributing to the growth of the market studied in the region. According to the Cancer Facts & Figures 2022 data published by the American Cancer Society, there will be an estimated 1.9 million new cancer cases diagnosed in the United States in 2022. Hence, the growing prevalence of chronic diseases is expected to increase the demand for NGS informatics, thus driving the studied market's growth.
Additionally, the high concentration of major regional players, along with high product approvals and launches, is expected to be a significant factor for the studied market in the area. For instance, in October 2021, F. Hoffmann-La Roche Ltd. launched the AVENIO Tumor Tissue CGP Kit, a comprehensive genomic profiling kit, to make tailored cancer research more accessible. This kit provides comprehensive genomic profiling of solid tumors from formalin-fixed paraffin-embedded (FFPE) tissue samples. Thus, with increasing strategies taken by key regional players, the NGS informatics market is expected to grow significantly over the forecast period in North America.
