PUBLISHER: The Business Research Company | PRODUCT CODE: 1484746
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484746
Clinical next-generation sequencing (NGS) data analysis is the interpretation of genetic information acquired through advanced sequencing technologies within a clinical context. These technologies enable the rapid and cost-effective sequencing of large DNA or RNA samples, allowing for the identification of genetic variations associated with diseases or conditions. This analytical process is essential for comprehending the genetic underpinnings of diseases, supporting personalized medicine approaches, and guiding clinical decision-making.
The main types of solutions and services in clinical next-generation sequencing (NGS) data analysis encompass NGS data analysis tools, NGS data analysis and sequencing services, and NGS storage, management, and cloud computing platforms. NGS data analysis tools are software applications designed to interpret and process the vast amount of data generated through NGS technologies. Leveraging various sequencing technologies such as sequencing by synthesis (SBS), nanopore sequencing, and single-molecule real-time (SMRT) sequencing, these tools find applications in diagnostics, drug discovery, medical research, and other domains. End-users of these tools span hospitals, clinics, academic institutes, research centers, biotechnology companies, and life science technology vendors.
The clinical next-generation sequencing (NGS) data analysis market research report is one of a series of new reports from The Business Research Company that provides clinical next-generation sequencing (NGS) data analysis market statistics, including clinical next-generation sequencing (NGS) data analysis industry global market size, regional shares, competitors with a clinical next-generation sequencing (NGS) data analysis market share, detailed clinical next-generation sequencing (NGS) data analysis market segments, market trends and opportunities, and any further data you may need to thrive in the clinical next-generation sequencing (NGS) data analysis industry. This clinical next-generation sequencing (NGS) data analysis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The clinical next-generation sequencing data analysis market size has grown exponentially in recent years. It will grow from $2.86 billion in 2023 to $3.43 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth observed in the historical period can be attributed to several key factors such as advancements have empowered researchers to delve deeper into the genetic basis of diseases and gain novel insights into human biology.
The clinical next-generation sequencing data analysis market size is expected to see exponential growth in the next few years. It will grow to $7.25 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The anticipated growth in the forecast period can be attributed to several key factors. Firstly, there is a rising adoption of liquid biopsy techniques, which provide non-invasive methods for analyzing genetic material and monitoring disease progression. This trend is expected to drive the demand for next-generation sequencing (NGS) technologies, as they enable comprehensive genomic analysis from liquid biopsy samples. Additionally, the integration of artificial intelligence (AI) in data analysis is anticipated to enhance the efficiency and accuracy of genomic interpretation. By leveraging AI algorithms, NGS data analysis can be optimized for faster and more precise identification of genetic variations associated with diseases, further fueling the growth of NGS applications in both research and clinical settings.
The clinical next-generation sequencing data analysis market is poised for growth, propelled by the rising demand for personalized medicines. Personalized medicine, tailored to individual genetic, environmental, and lifestyle factors, gains prominence due to genomic technologies, increasing disease complexity, improved treatment outcomes, and escalating healthcare costs. Next-generation sequencing (NGS) data analysis plays a pivotal role in personalized medicine, facilitating rapid and accurate sequencing of multiple genes, thereby enhancing understanding of an individual's genetic profile. For example, data from October 2022 reports a significant number of genetic testing products and personalized medicines, with personalized medicines accounting for a notable portion of new drug approvals, underlining the integral role of NGS data analysis in driving personalized medicine adoption.
Key players in the clinical NGS data analysis market are innovating to meet burgeoning demands for genomic analysis accuracy. Advanced solutions such as the NextSeq 2000 Sequencing System represent significant developments in this realm. This system comprises integrated hardware and software components designed to streamline DNA sequencing processes, offering precise nucleotide sequencing within DNA molecules. For instance, Illumina Inc.'s September 2022 launch of the NovaSeq X Series introduces a paradigm shift in production-scale sequencing, boasting enhanced speed, power, and sustainability. Leveraging innovative technology such as XLEAP-SBS chemistry and ultra-high density flow cells, the NovaSeq X Series offers substantially increased throughput and sequencing accuracy, meeting the escalating demands for genomic analysis.
In March 2021, Integrated DNA Technologies (IDT) augmented its capabilities in the clinical NGS data analysis market through the acquisition of Swift Biosciences. This strategic move aims to enrich IDT's portfolio with Swift Biosciences' expertise in developing NGS library preparation kits, expanding genetic analysis capabilities across academic, translational, and clinical research domains. Swift Biosciences' NGS Library Preparation Kits cater to various research areas, including cancer, inherited diseases, agrigenomics, metagenomics, and pharmaceutical applications, complementing IDT's objective of delivering comprehensive genomic solutions.
Major companies operating in the clinical next-generation sequencing (NGS) data analysis market are Roche Diagnostics, Thermo Fisher Scientific Inc., Eurofins Scientific, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Qiagen, BGI Group, 10x Genomics, Genomic Health, Oxford Nanopore Technologies PLC., Pacific Biosciences of California Inc., Sophia Genetics, Genewiz, Partek Inc., DNAnexus, BioNano Genomics, PierianDx, GENAPSYS, Nugen Technologies, DNAStar Inc., Swift Biosciences, Basepair, BioDatomics, Congenica Ltd., Theragen Etex Inc., Golden Helix Inc.
North America was the largest region in the clinical next-generation sequencing (NGS) data analysis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical next-generation sequencing (NGS) data analysis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the clinical next-generation sequencing (NGS) data analysis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The clinical next-generation sequencing data analysis market consists of revenues earned by entities by providing services such as data preprocessing, alignment, variable calling, annotation, prioritization, interpretation, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The clinical next-generation sequencing data analysis market also includes sales of software tools, platforms, and pre-processing tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Clinical Next-Generation Sequencing (NGS) Data Analysis Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on clinical next-generation sequencing (NGS) data analysis market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for clinical next-generation sequencing (NGS) data analysis ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The clinical next-generation sequencing (NGS) data analysis market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The continued but declining impact of COVID-19 on supply chains and consumption patterns.