PUBLISHER: The Business Research Company | PRODUCT CODE: 1619782
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619782
Next-generation sequencing (NGS) data analysis involves interpreting the extensive data produced by high-throughput sequencing technologies for DNA or RNA. The main goal is to identify genetic variants and mutations, which supports illness detection, biomarker discovery, and understanding biological processes. This analysis is essential for advancing personalized medicine, targeted treatments, and enhancing diagnostic accuracy.
The primary types of next-generation sequencing data analysis products are services and commercial software. Services encompass a range of professional offerings designed to manage and analyze complex genomic data, helping researchers and clinicians derive meaningful insights from sequencing results. NGS data analysis includes various read lengths, such as short read, long read, and very long read sequencing, and can be performed in-house or outsourced. These analyses support different workflows, including primary, secondary, and tertiary analyses, and are utilized by a variety of end-users, including academic research institutions, clinical research organizations, hospitals and clinics, pharmaceutical and biotech companies, and others.
The next-generation sequencing data analysis market research report is one of a series of new reports from The Business Research Company that provides next-generation sequencing data analysis market statistics, including the next-generation sequencing data analysis industry global market size, regional shares, competitors with the next-generation sequencing data analysis market share, detailed Next-generation sequencing data analysis market segments, market trends, and opportunities, and any further data you may need to thrive in the next-generation sequencing data analysis industry. These next-generation sequencing data analysis market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The next-generation sequencing data analysis market size has grown exponentially in recent years. It will grow from $1 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth during the historic period can be attributed to the rising use of NGS for pathogen detection, its adoption in veterinary diagnostics and research, its growing application in diagnosing rare genetic disorders, increased focus on microbiome research, and expanding use in pharmacogenomics.
The next-generation sequencing data analysis market size is expected to see exponential growth in the next few years. It will grow to $2.66 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth during the forecast period can be attributed to an increased emphasis on integrating genomics into healthcare, efforts to educate healthcare professionals, a focus on public health surveillance, decreasing sequencing costs, and growing interest in epigenetic studies. Key trends expected during this period include advancements in single-cell sequencing, automation in NGS data analysis, improvements in visualization tools for NGS data, the adoption of blockchain technology, and developments in hybrid sequencing techniques.
The growing prevalence of cancer is anticipated to drive the expansion of the next-generation sequencing (NGS) data analysis market. Cancer, characterized by the uncontrolled growth and spread of abnormal cells, poses significant health risks and can lead to severe complications or death if untreated. Risk factors such as smoking, excessive alcohol consumption, and poor dietary habits increase the likelihood of developing cancer. Next-generation sequencing data analysis aids in cancer treatment by accurately identifying genetic mutations, enabling personalized therapies and more effective treatment strategies tailored to each patient's specific genetic profile. For example, in February 2024, the World Health Organization projected that by 2050, there will be over 35 million new cancer cases, marking a 77% increase from the estimated 20 million cases in 2022. This rising cancer incidence is fueling growth in the NGS data analysis market.
Key players in the NGS data analysis market are advancing secondary analysis bioinformatics software to enhance the speed and precision of genetic variant identification for both research and clinical use. Secondary analysis bioinformatics software processes raw sequencing data from NGS, converting it into interpretable formats such as variant call files (VCF) that detail genetic variants. For instance, in January 2024, QIAGEN Digital Insights, a US-based division of QIAGEN, introduced the QIAGEN CLC Genomics Workbench Premium with LightSpeed technology. This software supports NGS for somatic cancer analysis and rapidly processes whole genome sequencing (WGS) samples. It can analyze 34 human genomes in 25 minutes and 50 exomes in 90 seconds using LightSpeed technology, which efficiently translates raw FASTQ data into usable formats. With low costs of $1 per genome and just a few cents per exome using cloud infrastructure, it offers a cost-effective solution for high-throughput labs. The software operates on standard hardware or cloud platforms, ensuring flexibility and high accuracy, making it suitable for clinical applications while minimizing environmental impact.
In January 2023, QIAGEN, a Germany-based company specializing in sample and assay technology, acquired Verogen for an undisclosed sum. This acquisition strengthens QIAGEN's position in the forensic and human identification markets by securing exclusive distribution rights to Verogen's MiSeq FGx Sequencing System and its associated forensic kits, as well as access to the GEDmatch database and GEDmatch PRO portal. This move enhances QIAGEN's capabilities in providing advanced genetic analysis tools for complex forensic cases. Verogen, a US-based company, focuses on next-generation sequencing technologies, including data analysis software.
Major companies operating in the next-generation sequencing data analysis market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., QIAGEN N.V., MedGenome Inc., Element Biosciences Inc., Seven Bridges Genomics Inc., Synthego Corp., Eurofins Genomics India Pvt. Ltd., Fabric Genomics Inc., Strand Life Sciences Pvt. Ltd., Admera Health LLC, Congenica Ltd., DNASTAR Inc., Golden Helix Inc., Geneious, SciGenom Labs Pvt. Ltd., Partek Incorporated, PathoQuest SAS, BioDatomics Inc., BGI Genomics Co. Ltd
North America was the largest region in the next-generation sequencing data analysis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the next-generation sequencing data analysis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the next-generation sequencing data analysis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The next-generation sequencing data analysis market consists of revenues earned by entities by providing services such as data processing, sequence alignment, gene expression analysis, genomic profiling, report generation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
Next-Generation Sequencing 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 next-generation sequencing 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 next-generation sequencing 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 next-generation sequencing 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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