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Global Next Generation Sequencing (NGS) Informatics/Software Market Outlook: 2015-2020

NEW YORK, April 28, 2016 /PRNewswire/ -- Next-generation sequencing (NGS) technology has transformed biomedical research, making genome and RNA sequencing an affordable and commonly used tool for a wide variety of research applications. As a result, the market has been stressed to manage the enormous data output from this process. Therefore, the complexity and sheer amount of data generated by NGS has led to a need for genomic centers to form bioinformatics teams in order to analyze the output data.

The global Next Generation Sequencing (NGS) informatics/software market is anticipated to grow at a CAGR of 21.5% from 2015 to 2020 to reach $868.6 million by 2020. This market is mainly driven by the promotion of NGS by research laboratories and academicians, reduced cost of sequencing with the use of NGS informatics, rising support from various government bodies to promote use of NGS in research and development, and continuous innovation and developments in the market. Moreover, an increased rate of cancer diseases, drastically reduced mass scale genetic testing costs, growing economy, and increasing genetic research and development activities in countries like India, Singapore, and China provide significant opportunities for the players to invest in this market. However, decrease in capital expenditure from academic institutions, high reliability on grants and funds from government in various countries, and accuracy and standardization concern in diagnostic testing hinders the growth of this market to some...