Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific NGS Data Storage Market: Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific NGS data storage market is projected to reach $1,284.3 million from $207.5 million in 2023, growing at a CAGR of 19.99% during the forecast period 2023-2033
The NGS data storage market is poised for growth due to the increasing utilization of next-generation sequencing (NGS) tools in research laboratories. These tools generate vast volumes of data, which necessitates storage and analysis for valuable insights. To meet this demand, numerous companies have introduced NGS informatics solutions designed to assist healthcare institutions and academic research centers in managing and deriving insights from the data. 
The Asia-Pacific (APAC) NGS data storage market is thriving due to the increasing adoption of NGS technology in research labs and healthcare institutions. NGS generates vast genomic data volumes, and as APAC invests in genomics and precision medicine initiatives, the demand for efficient data storage and analysis solutions grows.
These solutions not only store data but also facilitate management, analysis, and interpretation, supporting research and clinical applications. With a flourishing biotechnology and pharmaceutical industry in the region, the need for advanced NGS data storage solutions are on the rise, promising sustained growth and driving advancements in genomics research and personalized healthcare across APAC.
Competitive Strategy
Key players in the APAC NGS data storage market are analyzed and profiled in the study to provide data storage solutions and services to their end users. Moreover, a detailed competitive benchmarking of the players operating in the APAC NGS data storage market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 68 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $207.5 Million |
| Forecasted Market Value (USD) by 2033 | $1284.3 Million |
| Compound Annual Growth Rate | 19.9% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
Executive Summary
1 Markets
1.1 Inclusion and Exclusion Criteria
1.2 Market Scope
1.2.1 Key Questions Answered in the Report
1.3 Research Methodology
1.3.1 NGS Data Storage Market: Research Methodology
1.3.2 Data Sources
1.3.2.1 Primary Data Sources
1.3.2.2 Secondary Data Sources
1.3.3 Market Estimation Model
1.3.4 Criteria for Company Profiling
2 Market Overview
2.1 Overview
2.1.1 Market Definition
2.1.2 Current Market Scenario
2.1.2.1 Parameters of Cloud Data Security
2.1.2.2 Benefits of Cloud-based Data Storage
2.1.3 Market Footprint and Growth Potential
2.1.4 COVID-19 Impact on NGS Data Storage Market
2.1.4.1 Impact on Research and Clinical Operations
2.1.4.2 COVID-19 Impact: Current Scenario of the Market
2.1.4.3 Pre-and Post-COVID-19 Market Assessment
3 Market Dynamics
3.1 Overview
3.2 Impact Analysis
3.3 Market Drivers
3.3.1 Declining Cost of Cloud-based Data Storage Solutions
3.3.2 Increasing Demand for Sequencing at Higher Depth
3.3.3 Growing Number of Population Genomic Studies and Initiatives Globally
3.3.4 Rising Adoption of Cloud-based Data Storage Solutions
3.4 Market Challenges
3.4.1 Genomic Data Privacy and Security Concerns
3.4.2 Increasing Volume of NGS Data Generated and its Complexity
3.5 Market Opportunities
3.5.1 Data Compression Efforts by Companies
3.5.2 Advancements in Big Data Technology Enabling Efficient Data Storage
4 NGS Data Storage Market, by Region, $Million, 2022-2033
4.1 Overview
4.2 Asia-Pacific
4.2.1 China
4.2.2 Japan
4.2.3 India
4.2.4 Australia
4.2.5 South Korea
4.2.6 Rest-of-Asia-Pacific
5 Company Profiles
5.1 Overview
5.2 BGI Group
5.2.1 Company Overview
5.2.2 Role of BGI Group in the NGS Data Storage Market
5.2.3 Recent Developments
5.2.4 Target Customers
5.2.5 Analyst Perspective
For more information about this report visit https://www.researchandmarkets.com/r/vovz9m
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