|10-17-2018 03:02 PM CET - Business, Economy, Finances, Banking & Insurance||
Global NGS Data Analysis Market Is Anticipated to Be a Reach US$ 280 Mn By 2026
Press release from: Fact.MR
PR Agency: Fact.MR
Continual advancements in data integration & cloud computing solutions have effectively helped in addressing the data-handling bottlenecks, which involves analyzing large high-throughput sequence data. Such technological advancements in the field of bioinformatics are anticipated to offer promising avenues for this vertical, in turn driving demand for NGS data analysis in the foreseeable future.
There has been a rise in demand for rapid and accurate sequence interpretation tools and algorithms for expediting data analysis, with the emergence of NGS solutions along with their surging employment in genomics research, personalized treatment of various ailments, and clinical diagnosis. Additionally, scope of sequencing projects is set to expand on the back of concurrent fall in cost of sequencing and high genetic data output, which in turn will fuel demand for elaborate bioinformatics pipeline incorporating efficient and sophisticated solutions. Narrowing the difference between sequence processing and generation, the trend of substituting local computing software with the cloud-based computing databases is being increasingly employed by researchers in the healthcare sector. Existing challenges concerning biological interpretation of output genomic data will direct research efforts toward the development of precise healthcare data analytical tools, thereby driving the market growth in the near future.
However, infrastructural investments required for the development of algorithms & software will keep the market growth in check. NGS data analysis solutions have been deemed time consuming, and have been witnessing a confined adoption since the recent past. Commercial service providers have lucrative opportunities in the design and development of novel solutions to offer faster turnaround times.
A new report of Fact.MR envisages the global market for NGS data analysis to record a spectacular growth during the forecast period (2017-2026). Approximately US$ 280 Mn revenues are estimated to be generated by sales of NGS data analysis solutions worldwide by 2026-end.
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North America to Remain Largest Market for NGS Data Analysis
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.
Asia-Pacific excluding Japan will also record an impressive expansion in the market through 2026, mainly driven by rising number of research grants related to sequencing projects in its developing nations such as China and India. Incorporation of high-throughput screening encouraged by positive research & development outcomes in the region will further drive the market growth in APEJ.
Of all end-users in the global NGS data analysis market, academic research institutes are projected to account for the largest market revenue share during 2017 to 2026. Dominance of academic research institutes in the market can be attributed to robust utilization of high-throughput sequencing in university-based and academic research projects.
Major companies providing the NGS data analysis solutions have been undertaking strategic collaborations & partnerships, in a bid to increase their existing product portfolios, meanwhile maintaining a competitive edge in the market. These collaborations & partnerships are primarily focused at developing feasible infrastructure solutions for enabling researchers in performing a population-scale genomic analysis. Key market participants supporting growth of the global NGS data analysis market include ABM, Inc., Agilent Technologies, Biomatters, Ltd, DNAnexus, Dovetail Genomics, LLC, Edge Biosystems, Genestack, Illumina, and Roche.
Report Analysis at www.factmr.com/report/505/ngs-data-analysis-market
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