Market Size –
The clinical next-generation sequencing data analysis market size has grown exponentially in recent years. It will grow from $2.86 billion in 2023 to $3.43 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to research advancements in genomics, declining sequencing costs, growing demand for personalized medicine, expanding applications in clinical diagnostics, increasing prevalence of genetic diseases.
The clinical next-generation sequencing data analysis market size is expected to see exponential growth in the next few years. It will grow to $7.25 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to rising adoption of liquid biopsy techniques, integration of artificial intelligence in data analysis, expansion of precision medicine initiatives, emergence of novel sequencing technologies, increasing focus on population genomics initiatives. Major trends in the forecast period include growth of companion diagnostics, rise of decentralized testing models, increasing use of cloud-based solutions, expansion of NGS applications in non-invasive prenatal testing, development of standardized protocols for data interpretation.
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Scope Of Clinical Next-Generation Sequencing (NGS) 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.
Clinical Next-Generation Sequencing (NGS) Data Analysis Market Overview
Market Drivers –
The rising demand for personalized medicines is expected to propel the clinical next-generation sequencing data analysis market going forward. Personalized medicine refers to a medical approach that takes into account individual variability in genes, environment, and lifestyle for each person. The rising demand for personalized medicines is due to genomic technologies, increasing disease complexity, improved treatment outcomes, and rising healthcare costs. Next-generation sequencing (NGS) data analysis is crucial in personalized medicine as it allows for the rapid and accurate sequencing of many genes at once, enabling a deeper understanding of an individual’s genetic makeup. For instance, in October 2022, according to reports published by STAT, a US-based health-oriented news company, there were more than 75,000 genetic testing products and 300 personalized medicines. Furthermore, in 2023, according to the Personalized Medicine Coalition, a US-based representative organization, the FDA approved personalized medicines for 34% of new drugs, and during the previous eight years, they had been approved for at least 25% of new drugs. Therefore, the rising demand for personalized medicines is driving the growth of the clinical next-generation sequencing data analysis market.
Market Trends –
Major companies operating in the clinical next-generation sequencing (NGS) data analysis market are developing innovative advanced solutions, such as the NextSeq 2000 Sequencing System, to meet the increasing demands for accuracy in genomic analysis. This system refers to a set of integrated hardware and software components designed to perform the process of DNA sequencing, which involves determining the precise order of nucleotides within a DNA molecule. For instance, in September 2022, Illumina Inc., a US-based biotechnology company, unveiled the NovaSeq X Series, a revolutionary new line of production-scale sequencers that offer faster, more powerful, and more sustainable sequencing. The NovaSeq X Series includes the NovaSeq X and NovaSeq X Plus, which can generate more than 20,000 whole genomes per year, 2.5 times the throughput of prior sequencers. These sequencers utilize revolutionary new technology, including a fundamentally new sequencing by synthesis (SBS) chemistry (XLEAP-SBS) that is 2x faster and up to 3x more accurate, higher-resolution optics, and ultra-high density flow cells that deliver 2.5x greater throughput while driving down sequencing costs.
The clinical next-generation sequencing (NGS) data analysis market covered in this report is segmented –
1) By Solution And Services: NGS Data Analysis Tools, NGS Data Analysis And Sequencing Services, NGS Storage, Management And Cloud Computing Platform, Platforms
2) By Technology: Sequencing By Synthesis (SBS), Nanopore Sequencing, Single-Molecule Real-Time (SMRT) Sequencing, Other Technologies
3) By Application: Diagnostics, Drug Discovery And Designing, Medical Research, Other Applications
4) By End User: Hospitals And Clinics, Academic Institutes And Research Centers, Biotechnology Companies, Life Science Technology Vendors, Other End Users
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Regional Insights –
North America was the largest region in the clinical next-generation sequencing (NGS) data analysis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical next-generation sequencing (NGS) 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 clinical next-generation sequencing (NGS) data analysis market are Roche Diagnostics, Thermo Fisher Scientific Inc., Eurofins Scientific, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Qiagen, BGI Group, 10x Genomics, Genomic Health, Oxford Nanopore Technologies PLC., Pacific Biosciences of California Inc., Sophia Genetics, Genewiz, Partek Inc., DNAnexus, BioNano Genomics, PierianDx, GENAPSYS, Nugen Technologies, DNAStar Inc., Swift Biosciences, Basepair, BioDatomics, Congenica Ltd., Theragen Etex Inc., Golden Helix Inc.
Table of Contents
1. Executive Summary
2. Clinical Next-Generation Sequencing (NGS) Data Analysis Market Characteristics
3. Clinical Next-Generation Sequencing (NGS) Data Analysis Market Trends And Strategies
4. Clinical Next-Generation Sequencing (NGS) Data Analysis Market – Macro Economic Scenario
5. Global Clinical Next-Generation Sequencing (NGS) Data Analysis Market Size and Growth
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31. Clinical Next-Generation Sequencing (NGS) Data Analysis Market Other Major And Innovative Companies
32. Global Clinical Next-Generation Sequencing (NGS) Data Analysis Market Competitive Benchmarking
33. Global Clinical Next-Generation Sequencing (NGS) Data Analysis Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Clinical Next-Generation Sequencing (NGS) Data Analysis Market
35. Clinical Next-Generation Sequencing (NGS) Data Analysis Market Future Outlook and Potential Analysis
36.Appendix
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