Wilmington, Delaware, United States, April 12, 2023 (GLOBE NEWSWIRE) -- The global next-generation sequencing data analysis market was valued at USD 610.6 Mn in 2021 and is projected to reach USD 5.4 Bn by 2032 growing at a CAGR of 16.6%.
Integration of genome medicine into clinical practice is expected to bolster market development. Development of personalized medicine is anticipated to drive the usage of NSG data analysis tools. Surge in usage of NSG to identify mutation patterns and genetic variations in cancer, rare infectious diseases, and autism through whole genome sequencing is likely to augment the market size.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 610.6 Mn in 2021 | |
| Estimated Value | USD 5.4 Bn by 2032 | |
| Growth Rate | 16.6% | |
| Forecast Period | 2022–2032 | |
| No. of Pages | 250 Pages | |
| Segmentation | By Read Length, Product Type, Workflow, Sourcing Type, and Region | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Thermo Fisher Scientific, Inc., Qiagen, Illumina, Inc., F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., PierianDx, Precigen Bioinformatics Germany GmbH, Partek Incorporated, Eurofins Scientific, Pacific Biosciences of California, Inc., DNASTAR, Inc., Congenica Ltd., Fabric Genomics, Inc., Genuity Science, DNAnexus Inc., SciGenom Labs Pvt. Ltd., Golden Helix, Inc., and Verily Life Science | |
In terms of workflow, the tertiary segment led the global next-generation sequencing data analysis market in 2021. Rise in usage of tertiary workflow to analyze large volumes of sequencing data related to proteins, signaling pathways, and phenotypes is expected to fuel the segment. Increase in trend of application of novel statistical tools for NGS data analysis is likely to bolster market development. Surge in demand for innovative tertiary data analysis tools to interpret sequencing data is estimated to boost the segment. An example is tertiary data analysis of RNA-Seq data.
Key Findings of Study
- Significant Adoption of Cloud-based NSG Platforms: Surge in demand for cloud-based NSG bioinformatics platform is expected to propel the market. Cloud computing solutions are projected to be utilized by researchers to analyze NSG data that is freely available. An instance is availability of large volumes of NSG data in The International Cancer Genome Consortium (ICGC). Surge in R&D in identifying genetic variations for a number of common cancer types is expected to bolster utilization of cloud-based NSG bioinformatics platform.
- Rise in Usage of Next-Generation Sequencing in Oncology to Offer Lucrative Opportunities: Rise in trend of utilizing next generation sequencing data in clinical oncology is anticipated to bolster the market. Growth in usage of NSG data analysis in cancer genomics program by governments of several countries, especially the U.S. and the U.K., is expected to accelerate next-generation sequencing data analysis market development. Instance is the rise in demand bioinformatics tools by researchers for data analysis generated in The Cancer Genome Atlas (TCGA). Another instance is government initiatives in The International Cancer Genome Consortium (ICGC) to promote cancer genetic understanding. Furthermore, NSG data analysis has the potential to enable personalized treatment by targeting genomic changes in individual tumors.
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Key Drivers
- Rise in trend of utilization of the next-generation sequencing (NSG) technology in whole genome sequencing and exome sequencing is expected to drive the demand for NSG data analysis. Decline in cost of the NSG technology and increase in its accuracy are bolstering the adoption of the technology in large-scale genome projects.
- Surge in demand for effective diagnostics for genetic disorders is propelling the usage of NSG-based diagnostics, particularly for cancer. Thus, extensive R&D in cancer genomics in the past few years has boosted the application of NSG. This has created significant need for advanced NSG data analysis workflow.
- Rise in usage of NSG in transcriptomics and proteomics is projected to broaden the next-generation sequencing data analysis market outlook
Regional Growth Dynamics
The market in Europe is anticipated to witness significant revenue growth during the forecast period. Rise in government investment in genome sequencing projects in the U.K, Iceland, Sweden, and Finland is expected to drive the usage of tools for analyzing data from next-generation sequencing (NGS), complex genomic analyses. Examples are 1000 Genomes Project and International HapMap, where NSG was used as cost-effective and reliable technology for sequencing of several genomes from patients suffering from cancer and rare diseases. Demand for NSG analysis tools for understanding genetic background of these diseases is likely to propel the market.
The market in the U.K. is projected to reach US$ 348 Mn by 2032, representing a CAGR of 26.7% from 2022 to 2032.
The U.S., China, Japan, and South Korea are projected to offer lucrative opportunities to companies in the next-generation sequencing data analysis market. Surge in utilization of NSG for whole-genome sequencing in these countries, driven by focus on development of precision medicine in cancer, is expected to generate significant revenues for companies in the near future.
The U.S. held leading share of the global market in 2021. The U.S. market is expected to advance at a CAGR of 23.4% from 2022 to 2032.
Competition Landscape
Prominent companies in the market are Thermo Fisher Scientific, Qiagen, Illumina, F. Hoffmann - La Roche Ltd., Agilent Technologies, Genuity Science, Fabric Genomics, Bio-Rad Laboratories, Inc., PierianDX, Partek Incorporated, DNASTAR Inc., Congenica, Eurofins Scientific, Pacific Biosciences of California, Inc., and DNAnexus, Inc.
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Next-Generation Sequencing Data Analysis Market Segmentation
By Read Length
- Long Read Sequencing
- Short Read Sequencing
- Very Long Read Sequencing
By Product Type
- Services
- NSG Commercial Software
By Workflow
- Secondary
- Tertiary
- Primary
By Sourcing Type
- Outsourced
- In-house
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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