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NGS in Healthcare: Industry Outlook, Challenges, and Consulting Solutions

Industry Outlook: A Promising Future

The NGS market growth has been through the roof for the last few years. GlobalData sees the next-generation sequencers market in India growing at a CAGR of around 11% till 2033. (source: https://www.expresshealthcare.in/news/next-generation-sequencers-market-in-india-to-grow-at-11-cagr-through-2033-globaldata/443962/) The growing adoption of NGS-based diagnostic testing for the detection of viruses and other infectious diseases has mainly propelled the market's growth. As the world's population continues to live longer and chronic disease becomes more prevalent, so too will the demand for more precise, sophisticated diagnostics intensify.

Changing Landscapes: The Impact of NGS

The integration of NGS into clinical practice is leading to a change in the healthcare landscape in several ways. 

• Provides earlier and more accurate disease diagnosis, thus allowing more positive patient outcomes. 
• Enables personalized medicine, where the treatment plan is individualized according to the genetic makeup of a person. 
• Plays a key role in drug discovery and development by identifying possible targets for drugs.

But as they say, every coin has two sides, as you can see below.

Major Challenges of NGS

To reap all the benefits from NGS, the industry has to overcome a few very critical challenges:

• Complexity in Data Analysis: Large volumes of data can be generated, but meaningful insights have to be drawn from such data - necessary for correct diagnosis and treatment planning.
• Regulatory Hurdles: Innovations with NGS come up very quickly; that is, much faster than structures of any regulatory framework are put into place. 
• Costs Consideration: NGS technology, though widely available, still has a huge cost burden in its applications. 

Faroce - Your Expert Partner for Consulting Solutions in NGS Growth

With complexities in the diagnostic and special tests market, you need an expert partner to give you the way forward. This is where Faroce comes in - an aggregator of industry experts, providing many different consulting services sure to cater to the individual needs of MSMEs within the healthcare sector.

Our consultation services include several key focus areas:

• Market Entry Strategy: For new entrants, support in identifying available opportunities, developing the business plan, and regulatory landscaping.
• Technology Assessment and Deployment: Support in the selection of relevant NGS technologies by healthcare organizations, optimization of workflows, and ensuring data security.
• Business Model Development: Establishment of sustainable business models for NGS diagnostic tests services—direct-to-consumer offering.
• Talent Acquisition and Development: Resolve the lack of experts in NGS by helping organizations nurture and retain skilled resources.

We offer all types of consulting services according to your needs, which include call consultation. Our experts are always available to listen, understand your problems, and provide you with a possible solution.

• Business assessment: Our full assessment will give rise to analyzing the strengths, weaknesses, opportunities, and threats; this will form a clear route map for improvements.
• Call consultation: Providing on-demand expert advice to address urgent challenges.
• Expert consultation: Offering in-depth analysis and strategic recommendations.

By using our knowledge, you will maximize NGS processes, reduce costs, and improve patient outcomes.