According to Fact.MR, a market research and competitive intelligence provider, the global NGS data analysis market is estimated at US$ 561.4 Million in 2022 and is expected to expand at an impressive CAGR of 15.2% during the forecast years of 2022-2032. The market is poised to grow due to remarkable service type and rigorous use of services by end users.
The emphasis on genome surveillance has intensified as a result of COVID-19’s uncontrolled expansion. Additionally, improved genome monitoring capabilities can aid in the creation of artificially intelligent systems to monitor virus variations and mutations linked to respiratory diseases. One such efficient technology is advancements in DNA sequencing techniques. NGS, also referred to as high throughput sequencing, is a term used to describe a number of cutting-edge sequencing technologies. Next-generation sequencing allows for rapid, scalable, and high-throughput investigation of biological processes.
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In order to meet these needs for a greater degree of understanding, next-generation sequencing has filled in the gaps and gained favour as an analysis method. The utilization of NGS methodologies in conjunction with clinical diagnostics for individualized treatment of numerous ailments as well as genomic testing requires the development of speedy and precise algorithms as well as sequencing visualization techniques that can handle data more quickly.
According to Fact.MR, in the service type segment the sub-segment exome sequencing will command the overall NGS data analysis market owing to its several advantages which include cost effective sequencing of only coding regions present on the genome.
Furthermore, rigorous increase in number of research and development in healthcare and pharmaceutical sectors will propel the market growth. However, it is projected that some of the market’s growth would be constrained by the infrastructure costs associated with the creation of algorithms and software. Additionally, the lengthy nature of NGS data analysis is impeding the market’s expansion. Commercial service providers will, however, have profitable chances to build and create innovative solutions with quicker response times.
As per Fact.MR Analyst “New Computational Progressions in NGS Data Analysis Will Create Opportunities for NGS Analysis Market.”
Key Takeaways from Market Study
- The global NGS data analysis market is projected to expand at an impressive value of US$ 2,314.7 Million by 2032.
- The market witnessed 13.7% CAGR for the period of 2017-2021.
- Under service type, exome sequencing dominates the market and is valued at US$ 154.4 Million in 2021.
- North America dominated the market with 39.6% market share in 2021.
- Based on region, increase in demand for NGS data analysis is expected to increase the market share of Europe, East Asia and Oceania by 24.7%, 19.5% and 1.0% respectively, in 2022.
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The market for NGS data analysis is very consolidated, well established providers dominates the market as the NGS data analysis services require lot of revenue investments in generation of new algorithms. Providers including ABM Inc., Agilent Technologies, Biomatters Ltd, DNAnexus, Dovetail Genomics LLC, Edge Biosystems, Genestack, Illumina, Roche are competing with each other for market dominance.
Product innovation, strategic efforts, and regional expansions are all significant tactics for market growth. The existing players’ implementation of such broad strategic initiatives in the field of next-generation sequencing data analysis will help to satisfy customers’ unmet needs. In addition, market titans have bought smaller players to strengthen their market presence.
Segmentation of NGS Data Analysis Industry Research
By Service Type :
- Whole-Genome Sequencing
- Exome Sequencing
- Targeted Resequencing
- De Novo Sequencing
- RNA Sequencing
- ChIP Sequencing
- Methyl Sequencing
- Other Services
By Technique :
- Sequencing by Synthesis (SBS) Technology
- Real-Time (SMRT) Technology
- Ion semiconductor sequencing Technology
By End-User :
- Academic Research Institutes
- Biotechnology/Pharmaceutical Companies
- Contract Research Organization
- Other End Users
By Region :
- North America
- Latin America
- East Asia
- South Asia & ASEAN
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