NGS Data Storage Market Latest Survey Report 2024

NGS Data Storage Market

NGS Data Storage Market to reach over USD 5.02 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global NGS Data Storage Market Size, Share & Trends Analysis Report By Read Length (Short-Read Length, And Long-Read Length), Sourcing Type (In-House NGS Data Storage, And Outsourced NGS Data Storage), Offering (Data Storage Solutions, Data Analysis Services), And Application (Oncology, Infectious Diseases, Rare Diseases, Reproductive Health, Central Nervous System (CNS)), Region, Market Outlook And Industry Analysis 2031"

The NGS Data Storage Market is estimated to reach over USD 5.02 billion by 2031, exhibiting a CAGR of 17.54% during the forecast period.

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NGS data is essential for researchers who provide dependable yet simple to use storage solutions. Sequencing businesses are utilizing cloud-based storage options because of their accessibility, scalability, and affordability. Several major IT suppliers, including Amazon Web Services, Google Cloud, and Microsoft Azure, offer cloud-based storage services. These services include pay-as-you-go pricing structures that make it simpler for researchers to control expenditures in accordance with their data storage requirements. The increasing use of next-generation sequencing (NGS) tools in research labs is anticipated to fuel the expansion of the NGS data storage market. NGS tools produce enormous amounts of data that are saved and analysed for useful insights. NGS informatics solutions have been created by a number of businesses to help medical facilities and academic research facilities.

List of Prominent Players in the NGS Data Storage Market:
• Agilent Technologies, Inc.
• BGI Group
• DNAnexus, Inc.
• Fabric Genomics, Inc.
• F. Hoffmann-La Roche Ltd. (Roche Molecular Systems, Inc.)
• Illumina, Inc.
• PerkinElmer Inc.
• PacBio.
• QIAGEN N.V.
• Qumulo, Inc.
• Thermo Fisher Scientific Inc.

Market Dynamics:
Drivers-
The development of the worldwide data storage market is being fueled by the fast-expanding digital infrastructure and the increasing use of cloud-based services in businesses. As new sectors enter the market, new technologies are emerging and existing data storage structures are being improved, driving the market ahead. The market is expanding as a result of the increased information creation from input-output electronic devices used in a variety of applications. Data storage structures are being used by banks in an effort to cut down on paper and boost digitization, which is boosting market expansion. Additionally, the market is anticipated to grow as a result of the adoption of technologies like the internet of things (IoT) across numerous end-use sectors.

Challenges:
The prime challenge is the development of the research aimed at determining the genesis of COVID-19 was greatly aided by NGS. The NGS bioinformatic pipeline, which is a set of data algorithms that are performed to produce interpretable data, was in use during the pandemic. NGS technology is widely used in commercial laboratory operations, and it makes use of inevitably changing software and computational tools. Numerous key components, including as variant annotation sequence creation, variant identification, assembly and alignment, and variant visualization, are shared by all NGS bioinformatics workflows. The SARS-CoV-2 virus had several changes throughout the pandemic and is still changing. For the many diagnostic assays in various places, ongoing monitoring of the virus genomes is essential. For the preparation of amplicon SARS-CoV-2, a number of commercial and non-commercial kits were made available, some of which were modified using NGS platforms. Leading companies in the NGS data storage market, which provide NGS data analysis solutions, are forming strategic alliances and partnerships to improve their product lines and keep a strong hold on the global NGS data storage market.

Regional Trends:
North America will hold a dominant position in the worldwide NGS data storage market in 2022. The availability of cloud-based and on-premises software solutions provided by NGS data storage companies to process and store large genomic and NGS datasets in the cloud with built-in scalability is anticipated to significantly drive the North American NGS data storage market. This will expand the market's overall scope. Because of the U.S. government's enormous investments in the co-development of targeted therapies and molecular diagnostics, the existence of big market participants there, and the region's high healthcare spending, the U.S. dominated the North American region.

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Recent Developments:
• In February 2023, At the Advances in Genome Biology and Technology (AGBT) 2023 General Meeting in Hollywood, Florida, Twist Bioscience received early access to the Twist enhanced Whole Genome Sequencing (eWGS) solution aimed on non-human genomics applications. With the aid of eWGS, researchers may now combine low-pass whole genome data from a few chosen locations in a method that is both affordable and high throughput.
• In March 2023, 'Connected Insights Software,' a new cloud-based programme from Illumina, Inc., aids in the tertiary analysis of clinical data. Researchers are using the software for tertiary analysis for potential applications in oncology and uncommon disorders.

Segmentation of NGS Data Storage Market-
By Read Length-
• Short-read Length
• Long-read Length
By Sourcing Type
• In-house NGS Data Storage
• Outsourced NGS Data Storage
By Offering-
• Data Storage Solutions
o Cloud-based solution
o On-premises solution
• Data Analysis Services
• Other Offerings
By Application-
• Oncology
• Infectious Diseases
• Rare Diseases
• Reproductive Health
• Central Nervous System (CNS)
• Other Applications
By End-user
• Academic and Research Institutions
• Pharmaceutical and Biotechnology Companies
• Molecular Diagnostic Laboratories
• Other End Users

By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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