North America is home to several well-established organizations of NGS data analysis. A significant number of NGS research projects are being carried out in Canadian universities, which in turn has resulted into huge demand for NGS data analysis, thereby affecting the revenue growth in the region. North America is set to remain the fastest-expanding and largest market for NGS data analysis.
Rockville, WA -- (SBWIRE) -- 08/17/2018 -- According to a recently composed report of Fact.MR, the global NGS data analysis market will reflect an impressive expansion over the period, 2017 to 2026. Sales of NGS data analysis solutions worldwide are forecast to reach nearly US$ 280 Mn in revenues by 2026-end.
NGS Data Analysis Bridging Gap between Genomic Research & Traditional DNA Sequencing Procedures
NGS data analysis has witnessed high demand among researchers, as it enables them in examining biological systems in detail, owing to its exceptional throughput scalability and speed in providing results. There has been a requirement for a greater level of understanding on the back of complexities involved in the genomic research than that offered by traditional DNA sequencing procedures. NGS data analysis has bridged the gap between these levels of understanding requirements, emerging as an everyday research tool for researchers in the healthcare and medical sector. Constant developments in cloud computing & data integration solutions have enabled addressing bottlenecks of data handling effectively. Advent of NGS solutions in accordance with growing requirement of clinical diagnosis in personalizing treatment of several diseases and in genomic research, has entailed demand for precise & fast algorithm and sequencing interpretation tools for faster analysis of data. This has further resulted into demand for efficient and advanced solutions for the elaborate bioinformatics pipeline.
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However, infrastructural investments involved in the development of software and algorithms is likely to keep the market expansion in check. Solutions of NGS data analysis are time consuming, which in turn might confine its adoption to a certain extent. Commercial service providers however have lucrative opportunities in designing and developing novel solutions that offer faster turnaround times.
5 Key Future Projections of NGS Data Analysis Market for Forecast Period 2017-2026
On the basis of technique, sequencing by synthesis (SBS) has been estimated to remain dominant in the global NGS data analysis market, in terms of revenues. Ion semiconductor sequencing will also endure as a lucrative technique for NGS data sequencing worldwide. Revenues from real-time (SMRT) technology will continue to be sluggish in the market.
Academic research institutes will remain the most remunerative end-users of NGS data analysis. Sales of NGS data analysis solutions in academic research institutes are projected to record the fastest expansion through 2026.
Hospitals are also expected to prevail as lucrative end-users of NGS data analysis, with revenues poised to exceed US$ 60 Mn by 2026-end.
Based on service type, exome sequencing and RNA sequencing will continue to spearhead the global NGS data analysis market, in terms of revenues as well as sales expansion.
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North America is expected to dominate the global NGS data analysis market, with revenues estimated to close in nearly US$ 115 Mn by 2026-end. Projected to exhibit the fastest expansion through 2026, North America will account for over one-third market revenue share through the forecast period.
Leading companies providing NGS data analysis solutions are undertaking strategic collaborations and partnerships for enhancing their existing product portfolios and maintaining a firm foothold in the global NGS data analysis market. These collaborations and partnerships are primarily aimed at the development of feasible infrastructure solutions, which enable researchers to perform a population-scale genomic analysis. Fact.MR's report has listed key companies underpinning expansion of the global market for NGS data analysis, which include Advaita, Bina Technologies (Roche), Congenica, DNASTAR, Eagle Genomics, Flatiron, GENEWIZ, Qiagen, and Thermo Fisher Scientific, Inc.
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