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.
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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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.
Key Future Projections of NGS Data Analysis Market for Forecast Period 2017-2026
1- 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.
2- 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.
3- 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.
4- 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 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.
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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