Press release
Global NGS Data Storage Market Set for Rapid Growth - Emergen Research
The NGS data storage market is expected to grow from an estimated USD 67.2 billion in 2024 to USD 123.5 billion in 2033, at a CAGR of 7.00%. during the forecast period, reaching USD 5.08 billion by 2031. This growth is driven by the rapid adoption of next-generation sequencing (NGS) technologies in research and clinical settings, generating vast datasets that require efficient, scalable storage solutions. NGS data storage encompasses on-premises, cloud-based, and hybrid systems designed to manage, analyze, and archive the massive volumes of genomic data produced by NGS platforms. The integration of cloud computing, artificial intelligence (AI) for data compression, and increasing demand for precision medicine further accelerate market expansion.
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The National Human Genome Research Institute (NHGRI) reported that sequencing a human genome now costs under USD 600 as of 2024, down from USD 1 million in 2004, driving a surge in NGS adoption and data generation. A 2024 study by IoT Analytics estimated that global connected IoT devices, many supporting genomic research, reached 16.6 billion, amplifying data storage needs. Additionally, major cloud providers like Amazon Web Services (AWS), Google Cloud, and Microsoft Azure have expanded their genomics storage offerings, with AWS reporting a 25% increase in life sciences cloud usage in 2024, reflecting the market's shift toward scalable, pay-as-you-go solutions.
Market Drivers and Growth Factors
The surge in NGS usage for genomics research, clinical diagnostics, and drug discovery is a major driver for the NGS Data Storage market. These solutions are critical for securely storing terabytes of sequencing data, enabling long-term analysis, and ensuring compliance with data privacy regulations like GDPR and HIPAA. The growing volume of genomic data from population sequencing projects, such as the UK's 100,000 Genomes Project, and the rise of cloud-based bioinformatics tools further propel market growth. Government funding, including the U.S. NIH's USD 200 million allocation for genomic data initiatives in 2024, also supports the expansion of storage infrastructure.
Challenges in the NGS Data Storage Market
Despite its strong growth, the market faces challenges such as high costs of data management and storage infrastructure, particularly for smaller research institutions. Data security and privacy concerns, especially with cloud-based solutions, remain significant hurdles due to the sensitive nature of genomic information. The complexity of integrating NGS data with existing systems and the need for skilled bioinformatics expertise to manage large datasets also pose barriers. Additionally, competition from alternative storage technologies and varying global regulatory frameworks could restrain market expansion.
Market Segmentation Insights
The market is segmented based on offering, read length, sourcing type, application, end-user, and region.
Offering: Cloud-based solutions dominate the market, driven by their scalability and cost-effectiveness. Data analysis services are expected to grow rapidly as demand for integrated storage and analytics rises.
Read Length: Short-read sequencing storage leads, reflecting its widespread use in NGS, while long-read storage is projected to grow with advancements in technologies like PacBio and Oxford Nanopore.
Sourcing Type: Outsourced storage holds the largest share, supported by cloud providers, while in-house solutions cater to organizations with strict data control needs.
Application: Research dominates, fueled by academic and biotech studies, while clinical diagnostics is a fast-growing segment due to precision medicine.
End-User: Pharmaceutical and biotech companies lead, while academic research institutes are key growth areas with rising NGS adoption.
Trends: AI-driven data compression and hybrid cloud solutions are shaping market evolution.
The global NGS Data Storage market is poised for substantial growth, supported by the genomics revolution and advancements in storage technology. However, addressing cost, security, and integration challenges will be critical to sustaining this expansion. With increasing investments in NGS research and healthcare, the demand for robust data storage solutions is expected to rise steadily.
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Competitive Terrain
The global NGS Data Storage industry is moderately consolidated, with key players operating across international and local markets. These companies dominate due to their technological expertise, innovative storage solutions, and strong partnerships with sequencing firms.
Some major companies included in the NGS Data Storage market report are:
Illumina, Inc.
DNAnexus, Inc.
Thermo Fisher Scientific Inc.
QIAGEN N.V.
Amazon Web Services (AWS)
Google Cloud
Microsoft Azure
PerkinElmer Inc.
Fabric Genomics, Inc.
BGI Group
Pacific Biosciences of California, Inc.
Qumulo, Inc.
Bio-Rad Laboratories, Inc.
Agilent Technologies, Inc.
Roche Molecular Systems, Inc.
The report covers key aspects of the market, including standards, regulations, and policy changes implemented by governments for the coming years. It includes thorough research using advanced analytical tools such as SWOT analysis and Porter's Five Forces analysis to identify growth trends and patterns. Factors influencing market growth, current trends, opportunities, constraints, and the competitive landscape are discussed in detail.
Market Segmentation
For this report, Emergen Research has segmented the NGS Data Storage market based on offering, read length, sourcing type, application, end-user, and region:
Offering Outlook
Data Storage Solutions
Cloud-Based Solutions
On-Premises Solutions
Data Analysis Services
Others
Read Length Outlook
Short-Read Sequencing
Long-Read Sequencing
Sourcing Type Outlook
In-House NGS Data Storage
Outsourced NGS Data Storage
Application Outlook
Research
Clinical Diagnostics
Pharmaceutical Development
Others
End-User Outlook
Pharmaceutical & Biotechnology Companies
Academic & Research Institutes
Hospitals & Clinics
Others
Regional Outlook:
North America (U.S., Canada, Mexico)
Europe (U.K., Germany, France, Italy)
Asia Pacific (India, China, Japan, Korea)
Latin America (Brazil, Argentina, Ecuador, Chile)
Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
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Key Reasons to Buy the Global NGS Data Storage Market Report:
The report comprehensively studies the global NGS Data Storage market size and provides valuable insights into current business trends, market share, product offerings, and product share.
It offers an insightful analysis of the regional outlook of the market.
It provides a detailed account of the end-use applications of the products and services offered by this industry.
The report covers the latest developments in the industry and lists the most effective business strategies implemented by market rivals for optimal expansion.
Thank you for reading our report. For further details or to inquire about customization, please let us know, and we will offer you the report tailored to your needs.
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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