“Increased Prevalence of Personalized Medications to Uplift the Market.” What’s Driving Demand for NGS Data Analysis? Under the end users segment, the diagnostic laboratories sub-segment will dominate with 19.6% market share in 2022. Market share analysis of NGS data analysis based on end users and region is provided in a nutshell in the above image. Over the 2017-2021 historical period, the global NGS data analysis market registered a CAGR of 13.7% and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at of 15.2% CAGR between 20. The global NGS data analysis market is predicted to grow at a healthy Y-o-Y of 15.9% over 2031- 2032. Moreover, emergence of global pandemic such as COVID-19 and raise in chronic diseases will have an exponential impact on market growth. Long Term (2028-2032): The increase in demand for personalized diagnosis systems and medication of various ailments in nearing future will be acceptable as a global trend.Increase in per capita healthcare spending and adoption of vast sequencing projects such as whole genome sequencing of every individual will drive the market. Medium Term (2025-2028): Burgeoning expansion of healthcare and research industries in the low economic regions such as East Asia, Middle East and Africa will open plethora of opportunities for the next generation sequencing service providers and software developers. Short Term (2022 Q2 to 2025): The present need for augmentation and utilization of advanced data sequencing in the healthcare and research industry owing to the present demands of genetics based approaches for health impairment treatments will positively impact NGS data analysis market growth with an absolute $ opportunity of US$ 359.5 Million in the short term period of 2022-2025.Under the supremacy of these factors, the NGS data analysis market is expected to offer an absolute $ opportunity of US$ 1,825.8 Million over 2022 to 2032. As a result, it is now simple and quick to acquire the necessary computing power to carry out large-scale NGS data processing. When interpreting NGS data, cloud-based platforms provide advantageous options for activities that necessitate a lot of computing. Next-generation sequencing has become a regular research methodology in order to address these expectations. Next-generation sequencing technology enables in-depth analysis of biological systems by researchers because of its unmatched throughput, speed, and scalability.Ĭompared to what is offered by traditional DNA sequencing techniques, the complexity of genomic research demands a higher level of comprehension. The instant raise in demand of sequence analysis tools for precise interpretation of short or long, single or multiple, genomic, protein or amino acid sequences has up-surged the use of NGS data analysis tools. The inevitable need for NGS data analysis primarily in almost every research and development domain has garnered the market with a compound annual growth rate of 15.2% over 2022-2032. Next-generation sequencing (NGS) has greatly aided in the investigation of epigenetics and genomic patterns linked with numerous biological processes. However, aforementioned pertaining issues stages a platform for potential research and development opportunities for the providers, hence will lead to market growth. In comparison to early practices of data storage in the form of physical written files cloud storage has been a boon to the sequence analysis industry. Rigorous technological advancements in the field of data generation, integration, storage and access along with cloud computing solutions had a significant impact in overcoming data-handling constraints, which require evaluating enormous amounts of high-throughput sequence data. Sales Analysis of NGS Data Analysis (2017-2021) Vs.
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