Next Generation Sequencing (NGS) Data Analysis Market is anticipated to grow significantly in the years to come owing to the developments in the next generation sequencing platforms. Next generation sequencing is also termed as high-throughput sequencing that describes multiple modern sequencing technologies. These modern technologies enable the sequencing of DNA and RNA speedily and inexpensively as compared to the traditional technologies and have transformed the study of molecular biology and genomics.
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The key driving factors responsible for the growth of Next Generation Sequencing (NGS) Data Analysis market :
Next generation sequencing (NGS) data analysis is used in multiple areas like discovery of biomarker, personalized medicine, agricultural & animal research, oncology studies, etc. Hence, the application of next generation sequencing (NGS) data analysis is increasing, which is driving the market growth. Next generation sequencing data analysis market is also driven by the increasing application of NSG in technological innovations of NSG. However, the ethical and legal issues concerning NGS is hampering the market growth of next generation sequencing data analysis.
Nevertheless, the effect of driving factors is expected to overcome the impact of limitations. Moreover, implementation of cloud computing for data management in NGS and unexplored emerging areas is projected to offer new opportunities to the manufacturers of next generation sequencing (NGS) data analysis industry.
NGS data analysis market is categorized on the basis of product, technology, application, end user, and geography. On the basis of product, the market is divided into consumables (sample preparation and others), platforms (HiSeq, MiSeq, ion torrent, SOLiD, others) and services (data management and sequencing services). Consumables segment is anticipated to lead next generation sequencing data analysis industry due to the introduction of easy-to-use consumables and increasing number of sequencing procedures.
In terms of application, next generation sequencing (NGS) data analysis market is divided into diagnostics, reproductive health, animal & agriculture research, personalized medicine, biomarkers & cancer and others. Diagnostics segment is predicted to lead the market of next generation sequencing data analysis owing to the increasing number of cancer cases.
On the basis of end user, NGS data analysis industry is divided into pharmaceuticals, hospitals and clinics, government & academic research institutes and biotechnology companies. Government & academic research institute segment is expected to grow significantly in coming years owing to increasing collaborations among academic institutions and next generation sequencing (NGS).
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Next Generation Sequencing Market is anticipated to reach USD 21.4 billion by 2025.
NGS market is expected to show a tremendous growth on account of its wide applications in the treatment of cancer.
NGS is the process of identifying accurate order of nucleotides within a RNA or a DNA molecule.
Advancement of NGS has helped biological and medical discovery and research.
Further, the overall cost of genome sequencing is expected to reduce drastically on account of rapid development through research and innovation.
The need for effective diagnosis for cancer and high growing usage of combinational biomarkers are other factors contributing to the growth of the market in recent years.
