DUBLIN–(BUSINESS WIRE)–The “Next Generation Sequencing (NGS) Data Analysis – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Next Generation Sequencing (NGS) Data Analysis Market to Reach US$1.2 Billion by the Year 2026
Growth in the global market is set to be driven due to extensive uptake of the technology for analysis of RNA and DNA sequences. Cloud-based platforms are rapidly emerging as favorable solutions for performing computationally intensive activities during NGS data analysis makes it fast and simple for researchers to acquire computational resources for conducting large-scale data analysis of NGS. Recent technological advancements in cloud computing and bioinformatics have led to the development of a wide array of cloud-based bioinformatics platforms and services for carrying out large-scale NGS data analysis, which is likely to propel significant market growth in the coming years.
NGS methods are being extensively employed in genomic research, clinical diagnosis, and for oncology precision medicine, particularly for the diagnosis of breast and lung cancers. The rising prevalence of cancer cases across the globe is expected to boost growth in the global NGS data analysis market in the near future. Moreover, with tangible progress made towards personalized treatment of diseases, there is an increased demand for rapid and precise sequencing interpretation algorithms and tools that can help in expediting data analysis.
Amid the COVID-19 crisis, the global market for Next Generation Sequencing (NGS) Data Analysis estimated at US$549.2 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 14.1% over the analysis period. Services, one of the segments analyzed in the report, is projected to grow at a 14.9% CAGR to reach US$814.1 Million by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the NGS Commercial Software segment is readjusted to a revised 13% CAGR for the next 7-year period. This segment currently accounts for a 44% share of the global Next Generation Sequencing (NGS) Data Analysis market.
Analytical software is expected to exhibit robust growth over the next few years, attributed to the increased awareness and growing demand for sequencing technologies. The vast quantities of data generated via NGS require management platforms and solutions, which is resulting in the rising demand for such algorithms and tools. Companies lacking the necessary infrastructure for data analysis, interpretation, and management are increasingly adopting cost-effective NGS data analysis services.
The U.S. Market is Estimated at $238.7 Million in 2021, While China is Forecast to Reach $128.6 Million by 2026
The Next Generation Sequencing (NGS) Data Analysis market in the U.S. is estimated at US$238.7 Million in the year 2021. The country currently accounts for a 37.6% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$128.6 Million in the year 2026 trailing a CAGR of 15.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.8% and 13.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.1% CAGR while Rest of European market (as defined in the study) will reach US$101.9 Million by the end of the analysis period. The US is a major regional market for NGS data analysis, attributed to the presence of several established players, growing demand for personalized medicine, and launch of several large-scale genome sequencing projects in the region.
Europe represents another major market. The region’s dominance is attributed to the presence of several key global players, including Agilent Technologies, Illumina, and Thermo Fisher Scientific, coupled with the presence of a large number of regional players engaged in developing NGS data analysis software. There are also various European universities that are involved in conducting various NGS research projects, which is driving the adoption of NGS software tools in the region.
Select Competitors (Total 111 Featured)
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- Congenica Ltd.
- DNAnexus Inc.
- Dnastar, Inc.
- Eurofins Scientific
- F. Hoffmann-La Roche Ltd.
- Fabric Genomics, Inc.
- Genuity Science
- Golden Helix, Inc.
- Illumina, Inc.
- Intrexon Bioinformatics Germany GmbH
- Pacific Biosciences of California, Inc.
- Partek Incorporated
- PierianDx
- Qiagen
- SciGenom Labs Pvt. Ltd.
- Sophia Genetics
- Thermo Fisher Scientific, Inc.
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- NGS Data Analysis: Unraveling Critical Clues to Solve Scientific Problems
- NGS Data Analysis: Insights into File Formats & Downstream Analysis
- File Formats for NGS Raw Data
- NGS Data: Downstream Analysis
- Impact of Covid-19 and a Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- The Never-Ending “Race” Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, Where is the World Economy Heading Now & Beyond?
- Omicron Spreads Panic Worldwide; Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
- Short-term Impact of Omicron on Travel
- Financial Impact
- Scientists Seek to Gather More Information on Omicron
- Pharma Firms Aim to Improve Existing Vaccines to Counter Omicron
- Omicron: Impact on Travel Industry
- Steps taken by the Countries to Prevent Transmission of Omicron Variant
- With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- Impact of COVID-19 on Next Generation Sequencing (NGS) Data Analysis
- Great Promise of NGS in Fight against COVID-19 Brings Spotlight on NGS Data Analysis Market
- Global Market Overview and Prospects
- Next-Generation Sequencing (NGS) Data Analysis Market Witnesses Burgeoning Growth
- Key Market Drivers and Inhibitors
- Market Analysis
- US and Europe Lead, Asia-Pacific to Witness Growth
- Analysis by Product
- Analysis by Workflow
- Analysis by Mode
- Analysis by Read Length
- Analysis by End-use
- Competitive Landscape
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Next Generation Sequencing Market Drives the Demand for NGS Data Analysis
- Increasing R&D Activities in NGS
- Rising Use of NGS in Drug Discovery Drives Growth of NGS Data Analysis
- Rising Application of Whole Genome Sequencing Drives Demand for Faster Secondary Analysis Tools
- Technological Advancements in Sequencing Techniques and Data Integration
- Research Initiatives for the Development of NGS-based In-vitro Diagnostics
- The Need for Large-scale NGS Data Analysis Pushes for Cloud-enabled Bioinformatics Services
- NGS Data Analysis Using Big Data Gains Ground
- Improving Regulatory & Reimbursement Scenario for NGS-based Diagnostic Tests
- Increase in Genome Mapping Programs
- Declining Costs of Genome Sequencing Drive Market Growth
- Growth of Long-Read Sequencing to Propel the Market for NGS Data Analysis
- Aging Demographics Present Opportunities
- Growing Prevalence of Chronic Diseases to Boost the Market Prospects
- Market Challenges
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 111
For more information about this report visit https://www.researchandmarkets.com/r/17nfev
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
- Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. FREE ACCESS.
- CryptoHawk. Altcoin Radar. Free Trial.
- Source: https://www.fintechnews.org/next-generation-sequencing-ngs-data-analysis-global-market-analysis-and-forecast-to-2026-researchandmarkets-com/
