Next-generation Sequencing Data Analysis Market Set to Witness an Uptick during 2022 to 2030Posted by Mrudula Anil Karmarkar on March 10th, 2023 The global next-generation sequencing data analysis market is expected to reach USD 1.54 billion by 2030, registering a CAGR of 12.69% over the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to a significant decline in the cost of NGS installation in clinical diagnosis. Furthermore, the accessibility of genomic and proteomic data is anticipated to create significant growth opportunities. In addition, a reduction in the cost of sequencing is anticipated to boost the adoption rate of NGS, which would further drive the industry. The availability of tools, such as the Targeted Methyl-Seq platform and Agilent’s HaloPlex capture system from EpiGentek Group Inc. has aided in the DNA methylation profiles determination in individual genomes. The COVID-19 pandemic has enhanced NGS usage and has created a huge demand. The NGS tools can generate a significant amount of data for scientists to analyze and study pathogenesis. Researchers from industry, academia, and government have used data analysis technology to help in understanding the characteristics, phylogenetics, and processes of SARS-CoV2. NGS technologies have helped to unveil biological information that has not been studied yet using conventional technologies. For instance, NGS has helped study genomic patterns associated with various biological processes and epigenomics. However, issues related to accessing storage management, and analysis of data are anticipated to offer huge R&D prospects, thus, driving the industry growth. Researchers that use high-throughput sequencers demand software systems, such as Laboratory Information Management Systems (LIMS) to archive and handle sequencing information. Furthermore, the introduction of workflow management system solutions, such as Galaxy and Chipster, drives demand for technological advancements in data storage and management. Demand for technologically advanced infrastructure to monitor the flow of data analysis process from data generation to preliminary analysis to higher-level analysis has increased. Moreover, NGS data analysis tools are being constantly upgraded for obtaining effective results and higher utility. For instance, in December 2021, Bionano Genomics launched BioDiscovery’s NxClinical Software Version 6.1 for genome analysis. The version enables enhanced visualization and interpretation of NGS data for cancer and genetic disease domains. Such developments are anticipated to drive the industry over the forecast period. A key factor contributing to the industry growth is the growing acceptance of sequencing platforms for clinical diagnosis due to a huge cost reduction of installation. Moreover, easy genomic and proteomic information availability is anticipated to create significant growth opportunities in this industry during the forecast period. Furthermore, the cost reduction of these sequencing technologies has resulted in increased adoption of NGS. During the COVID-19 pandemic, the industry was positively impacted. The latest technological developments coupled with growing applications of NGS for mitigation of the pandemic are projected to boost the growth further. To Request Sample Copy of this report, click the link: Constant advancements in algorithms and processing are leading to the adoption of next-generation data analysis platforms to solve complex genomic problems. For instance, in June 2021, QIAGEN N.V. entered into a strategic partnership with Verogen, Inc. to provide comprehensive human identification solutions in their laboratories. The COVID-19 pandemic has driven NGS adoption and related technologies for the identification and formulation of the viral variants of vaccines & therapeutic alternatives. Next-generation Sequencing Data Analysis Market Report Highlights
For instance, in June 2021, bioMérieux launched EPISEQ SARS-COV-2 cloud-based software that facilitates epidemiological surveillance of viral variants of SARS-Cov-2. NGS offered epigenomic studying and genomic patterns linked with several biological processes. However, challenges pertaining to management, storage, and accessing information are likely to provide the industry with possible R&D opportunities, thus driving its growth. For archiving and handling sequencing information researchers that use high-throughput sequencers require Laboratory Information Management Systems (LIMS) to handle sequencing information. Cloud-based platforms provide promising solutions for computationally rigorous tasks during the NGS data analysis. The advancements in the services and cloud-based bioinformatics platforms at a large scale are anticipated to drive the industry. Bina, BaseSpace, LifeScope, DNAnexus, SevenBridges, and GeneSifter, and are some of the cloud-based NGS tools that are available in the market and have been adopted by end-users for sequencing information analysis. Furthermore, NGS protocol incorporation has been used for oncology precision medicine, majorly for breast and lung cancers. Market players are also focusing on the development of low-cost genome sequencing solutions to boost their performance. List of Key Players in Next-generation Sequencing Data Analysis Market
Like it? Share it!More by this author |