The next-generation sequencing data analysis global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Next-Generation Sequencing Data Analysis Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The next-generation sequencing data analysis market size has grown exponentially in recent years. It will grow from $1 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth in the historic period can be attributed to increasing use for pathogen detection, adoption in veterinary diagnostics and research, increasing use for diagnosing rare genetic disorders, increasing focus on microbiome research, and increasing use of NGS in pharmacogenomics.
The next-generation sequencing data analysis market size is expected to see exponential growth in the next few years. It will grow to $2.66 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to a rising focuses on integrating genomics into healthcare, educating healthcare professionals, focusing on public health surveillance, reducing sequencing costs, and rising interest in epigenetic studies. Major trends in the forecast period include advances in single-cell sequencing, automation in NGS data analysis, development in visualization tools for NGS data, adoption of blockchain technology, and advancement in hybrid sequencing techniques.
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Scope Of Next-Generation Sequencing Data Analysis Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Next-Generation Sequencing Data Analysis Market Overview
Market Drivers –
The increasing cancer prevalence is expected to propel the growth of the next-generation sequencing data analysis market going forward. Cancer refers to a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body, which can potentially lead to serious health complications or death if not treated. Poor lifestyle habits, including smoking, excessive alcohol consumption, and diets rich in processed foods and low in fruits and vegetables, can significantly increase the risk of cancer. Next-generation sequencing data analysis helps cancer treatment by enabling precise identification of genetic mutations, leading to personalized therapies and more effective treatment strategies tailored to the specific genetic profile of an individual’s cancer. For instance, in February 2024, according to the World Health Organization, a Switzerland-based intergovernmental organization, by 2050, over 35 million new cancer cases were projected, representing a 77% increase compared to the estimated 20 million cases in 2022. Therefore, the increasing cancer prevalence is driving the growth of the next-generation sequencing data analysis market.
Market Trends –
Major companies operating in the next-generation sequencing data analysis market are focused on developing advanced secondary analysis bioinformatics software to enable faster and more precise identification of genetic variants for research and clinical applications. Secondary analysis bioinformatics software is designed to process raw sequencing data from next-generation sequencing (NGS) and convert it into interpretable formats, such as variant call files (VCF), which detail genetic variants. This software streamlines the analysis of NGS data for research and clinical purposes. For instance, in January 2024, QIAGEN Digital Insights, a US-based bioinformatics business of QIAGEN, launched the QIAGEN CLC Genomics Workbench Premium with LightSpeed technology. This software facilitates next-generation sequencing (NGS) for somatic cancer analysis and rapidly processes whole genome sequencing (WGS) samples. It can analyze 34x human genomes in 25 minutes and 50x exomes in 90 seconds using LightSpeed technology, which efficiently converts raw FASTQ data into interpretable formats. With costs as low as $1 for genomes and a few cents for exomes using cloud infrastructure, it’s a cost-effective solution for high-throughput labs. The program runs on ordinary hardware or cloud platforms, providing flexibility and excellent accuracy, making it ideal for clinical applications while minimizing its carbon footprint.
The next-generation sequencing data analysis market covered in this report is segmented –
1) By Product: Services, Next-Generation Sequencing (NGS) Commercial Software
2) By Read Length: Short Read Sequencing, Long Read Sequencing, Very Long Read Sequencing
3) By Mode: In-House, Outsourced
4) By Workflow: Primary, Secondary, Tertiary
5) By End-User: Academic Research, Clinical Research, Hospitals And Clinics, Pharma And Biotech Entities, Other End-Users
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Regional Insights –
North America was the largest region in the next-generation sequencing data analysis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the next-generation sequencing data analysis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the next-generation sequencing data analysis market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., QIAGEN N.V., MedGenome Inc., Element Biosciences Inc., Seven Bridges Genomics Inc., Synthego Corp., Eurofins Genomics India Pvt. Ltd., Fabric Genomics Inc., Strand Life Sciences Pvt. Ltd., Admera Health LLC, Congenica Ltd., DNASTAR Inc., Golden Helix Inc., Geneious, SciGenom Labs Pvt. Ltd., Partek Incorporated, PathoQuest SAS, BioDatomics Inc., BGI Genomics Co. Ltd
Table of Contents
1. Executive Summary
2. Next-Generation Sequencing Data Analysis Market Report Structure
3. Next-Generation Sequencing Data Analysis Market Trends And Strategies
4. Next-Generation Sequencing Data Analysis Market – Macro Economic Scenario
5. Global Next-Generation Sequencing Data Analysis Market Size and Growth
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32. Global Next-Generation Sequencing Data Analysis Market Competitive Benchmarking
33. Global Next-Generation Sequencing Data Analysis Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Next-Generation Sequencing Data Analysis Market
35. Next-Generation Sequencing Data Analysis Market Future Outlook and Potential Analysis
36. Appendix
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