Next-generation sequencing (NGS) has emerged as a key technology to deliver the next level of healthcare solutions. While the $1,000 genome was achieved in 2015, Frost & Sullivan predicts the $100 genome to be reached by 2024. The significant dip in cost of genomic profiling and analysis has opened numerous avenues in the pharma and diagnostic space, especially in the area of precision medicine. 

To cater to the burgeoning big genomic data processing and analysis requirements, NGS services and informatics players have built capabilities in areas such as cloud computing and big data analytics to offer seamless genomic solutions at an optimized cost. Most of these developments have been focused on key growth areas such as drug development, precision medicine, clinical diagnostics, and multiomics.

"Strong focus on developing precision and personalized therapies will be the key industry growth driver. We expect a strong increase in the launch of large scale genome sequencing projects from pharmaceuticals and biotech companies to support their genomics drug development programs," explained Piyush Bansal, Life Science Senior Industry Analyst, at Frost & Sullivan.

However, even as market applications widen, companies face challenges to find acceptance from pharmaceuticals and biotech companies stakeholders to build a commercially viable business model. This is primarily because of limited development of clinical application.

"As the industry matures, vendors have started developing customized end-to-end solutions to cater to the changing customer requirements. Additionally, developments in the regulatory approval policy for NGS-based therapies across geographies will support growth," added Neelotpal Goswami, Senior Industry Analyst, Life Sciences, Frost & Sullivan.

This session will delve into the key market opportunities for NGS solution providers and expectations of client industries going forward. The session will offers viewpoints from industry stalwarts on how they envisage this situation and what can be done to meet existing business challenges.

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