Wilmington, Delaware, United States, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - According to the recent professional intelligence report by TMR, the global next-generation sequencing data analysis market is estimated to record a CAGR of 16.6% over the forecast period of 2021 to 2032. The emergence of the novel and next-generation technologies in the genome sequencing data analysis have provided healthcare professionals and researchers the ability to analyze and compare massive stretches of DNA in an affordable manner. This is positively affecting the market development. Additionally, the growing demand for in-depth data regarding genomic sequences is boosting the demand for effective new solutions and competent commercial software tools from the market.
Next-Generation Sequencing Data Analysis Market – Key Findings of the Report
- Tertiary Workflow Analysis Segment Leads the Market: Amongst the three major market segments, categorized based on the workflow, i.e., primary workflow, secondary workflow, and tertiary workflow, the tertiary segment led the industry in recent past. During the period of 2017 to 2021, the revenue acquired through this particular segment grew at an impressive CAGR of 17%. The tertiary workflow segment is anticipated to record increasing demand in coming years, as well, owing to its importance as an essential stage in processing and interpreting massive volumes of data.
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Next-Generation Sequencing Data Analysis Market – Growth Drivers
- Rising demand for detailed information regarding genomic sequences propels growth within the global next-generation sequencing data analysis market
- Growing use of next generation sequencing data analysis technologies in diagnosis of autism, as well as in the domain of oncology favors market expansion
- Rising number of planned projects, as well as ongoing and existing initiatives in genome sequencing propels market growth
Next-Generation Sequencing Data Analysis Market – Key Players
Some of the leading companies operating in the global next-generation sequencing data analysis market include Qiagen, F. Hoffmann La Roche, Ltd., Genuity Science, Thermo Fisher Scientific, Illumina, Agilent, and Fabric Genomics, Inc. Furthermore, some other notable industry players include Bio-Rad Laboratories, Precigen Bioinformatics Germany GmbH, Eurofins Scientific, DNASTAR, Inc., Golden Helix, Inc., Verily Life Science, PierianDx, Partek Incorporated, Pacific Biosciences of California, Inc., Congenica Ltd., Genuity Science, and SciGenom Labs Pvt. Ltd.
Leading players in the market are focusing primarily on increasing their research and development initiatives through expanding research infrastructure and facilities. They are also engaged in improving their storage management and accessing precise genetic information. Some other strategies employed by players to enhance their next-generation sequencing data analysis pipeline include collaborations, partnerships, product and technological innovations, and new product launches.
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Next-Generation Sequencing Data Analysis Market: Regional Growth Assessment
The research report regarding the future market of next-generation sequencing data analysis predicts that the United States will emerge as the largest economy in the global market. The United States market is estimated to reach the value of US$ 1.8 Bn by the end of the forecast period in 2032, displaying a robust CAGR of 23.4% during the forecast period of 2021 to 2032. Another significant economy, expected to register a substantial growth in the market over the forecast period is the United Kingdom.
Growing trend of early adoption of next-generation sequencing technologies by clinical laboratories in the United Kingdom is one of the salient drivers behind the expansion of this national market. Furthermore, rising investments in research and development by players in the nation, as well as increasing adoption of novel genetic testing services is also driving market expansion.
Next-Generation Sequencing Data Analysis Market: Segmentation
Next-Generation Sequencing Data Analysis Market, by Read Length
- Long Read Sequencing
- Short Read Sequencing
- Very Long Read Sequencing
Next-Generation Sequencing Data Analysis Market, by Product Type
- Services
- NGS Commercial Software
Next-Generation Sequencing Data Analysis Market, by Workflow
- Secondary
- Tertiary
- Primary
Next-Generation Sequencing Data Analysis Market, by Sourcing Type
- Outsourced
- In-house
Next-Generation Sequencing Data Analysis Market, by Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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