According to the latest industry analysis by Future Market Insights, the global clinical next-generation sequencing (NGS) data analysis market was valued at approximately USD 2.3 Billion in 2022. The market is poised to witness substantial growth at a CAGR of 17.4% over the projection period, reaching an estimated valuation of around USD 13.1 Billion by 2033.
The exponential growth in the clinical NGS data analysis market is attributed to several key factors. Firstly, the increasing prevalence of cancer, coupled with a rise in the geriatric population and lifestyle diseases worldwide, is driving the demand for advanced genomic analysis tools. Secondly, continuous technological advancements in genomic-based bioinformatics tools are enabling faster and more precise sequencing interpretation. Lastly, rising government funding for life science projects is further fueling the adoption of NGS data analysis solutions.
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“We are witnessing a paradigm shift in the field of clinical genomics, with next-generation sequencing emerging as a powerful tool for precision medicine,” said FMI. “The unprecedented growth forecasted for the clinical NGS data analysis market underscores the increasing demand for advanced solutions that facilitate accurate and rapid interpretation of sequencing data.”
The escalating demand for precise and quick sequencing interpretation tools and algorithms is expected to drive market growth significantly. These tools play a crucial role in accelerating data processing, enabling healthcare professionals to make informed decisions and improve patient outcomes.
As the clinical NGS data analysis market continues to evolve, companies are focusing on developing innovative solutions to address the growing needs of healthcare providers and researchers. Advanced bioinformatics tools and algorithms are anticipated to play a pivotal role in unlocking new insights into complex diseases and driving advancements in personalized medicine.
Key Takeaways from Market Study:
- NGS data analysis & sequencing services is the leading segment as solution and services, and is anticipated to hold a CAGR of 15.2% between 2023 & 2033, owing to affordability of NGS data analysis & sequencing services.
- Sequencing by synthesis (SBS) segment by technology holds a market value share of around 42.7% in 2022, because of its capabilities, which include long-insert paired-end reads for efficient sequence assembly, de novo sequencing, and other applications.
- Medical research dominates in term of application of clinical next-generation sequencing (NGS) data analysis with a projected market value share of around 39.6% in 2022, owing to increasing sequencing based approaches.
- By end user, academic & research institutes held a share of around 37.7% in 2022, due to increasing adoption of NGS platforms.
- North America held a value share of around 40.6% in 2022, owing to the advancements made in personalized medicines, NGS, and companion diagnostics in the region.
“The development of next-generation sequencing (NGS) technologies and their increased use in genomic research, clinical diagnosis and personalized treatment for a numerous diseases are driving up the demand for exact and rapid sequencing interpretation tools and algorithms speeding up data analysis, which result in increased market demand,” says an analyst of Future Market Insights.
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Market Competition:
The COVID-19 pandemic had a favorable effect on the clinical next-generation sequencing (NGS) data analysis industry, due to the increased implementation of next-generation sequencing (NGS) technology. NGS technology was also used to identify new coronavirus strains and other diseases.
The overall demand for the healthcare sector has increased because of the increased demand. In light of the increased demand for COVID-19-related research, the clinical next-generation sequencing (NGS) data analysis market experienced a jump in demand during the height of the pandemic.
- In September 2022, QIAGEN and Neuron23 collaborated to develop next-generation sequencing companion diagnostics for a novel Parkinson’s disease drug.
- In March 2022, Thermo Fisher Scientific launched the Ion Torrent Genexus Dx Integrated Sequencer, an automated next-generation sequencing (NGS) platform.
Key Companies Profiled:
- Agilent Technologies, Inc.
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Eurofins Scientific
- BGI Group
- Qiagen
- Roche Diagnostics
- DNAStar, Inc.
- Bio-Rad Laboratories, Inc.
- Congenica Ltd.
- Theragen Etex Inc.
- PerkinElmer, Inc.
- Partek Inc.
- Oxford Nanopore Technologies PLC.
- Pacific Biosciences of California, Inc.
- Golden Helix, Inc.
- BioDatomics
- PierianDx
Key Market Segments Covered in the Clinical Next-Generation Sequencing (NGS) Data Analysis Industry Research:
Solution and Services:
- NGS Data Analysis Tools
- Sequence Alignment Tools
- Alignment Visualization Tools
- Gene Prediction Tools
- Variant Analysis Tools
- Others
- Platforms
- Next-Generation Sequencing (NGS) Platforms
- Clinical Informatics Platforms
- Others
- NGS Data Analysis & Sequencing Services
- Whole-Genome Sequencing (WGS)
- Whole Exome Sequencing (WES)
- Comprehensive genomic profiling (CGP)
- Custom Panels
- RNA Sequencing
- Other Sequencing Services
- NGS Storage, Management & Cloud Computing Platform
Technology:
- Sequencing by Synthesis (SBS)
- Nanopore Sequencing
- Single-Molecule Real-Time (SMRT) Sequencing
- Others
Application:
- Diagnostics
- Drug Discovery & Designing
- Medical Research
- Others
End User:
- Hospitals & Clinics
- Academic Institutes & Research Centers
- Biotechnology Companies
- Life Science Technology Vendors
- Others
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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