Next Generation Sequencing (NGS) is the newest high throughput technology that revolutionizes genomic research. The massive genomic datasets generated through next-generation sequencing data analysis play a major role in the big data phenomenon that surrounds the world today. Owing to this, XploreMR has conducted a holistic next-generation sequencing data analysis market research to reveal the key aspects pertaining to the market. XploreMR’s market study anticipates that the market is likely to exhibit an exceptional growth at more than 16% CAGR during the forecast period.
The research further reveals that one of the most vital developments witnessed across the market has been that of error-correction methods. The UIDs-based correction requires only extra library preparation steps unlike most of the conventional in-silico methods, and is capable of correcting errors and amplifying bias results. Moreover, the prevalence of cancers worldwide is expected to accelerate the growth of the next-generation sequencing data analysis market as next-generation sequencing data analysis is applied for the development of cancer immunotherapies and biomarkers.
Increased Adoption in Life Science Research to Propel Demand
There is an increasing adoption of next-generation sequencing data analysis in a number of life science research projects worldwide, resulting in increasing demand. For instance, the US FDA along with the George Washington University co-sponsored a workshop whose goal was to engage greater number of life sciences organizations to utilize the collaboration for next-generation sequencing data analysis and other bioinformatics data analysis communications with the FDA. Furthermore, the increasing funding for life science research is likely to result in the availability of funding in research and academic institutes for incorporating more number of next-generation sequencing data analysis projects. The recent funding awarded by National Institute of Health (NIH) All of Us research program to help begin the generation of genomic data from biosamples is one of them.
Academic & Research Institutes Anticipated to Remain Leading End Users
Given the plethora of opportunities and applications in genomic research the next-generation sequencing data analysis data analysis is applied by a number of end users including clinical research organizations, hospitals, pharmaceutical and biotech companies, academic and research institutes, and others. The XploreMR study predicts that among these, the academic and research institutes will maintain the leading position as end users of next-generation sequencing data analysis technology, on the basis of the global market value share which accounted for nearly 36% in 2018. The market study further states the growth of the leading end user in next-generation sequencing data analysis market will be mainly attributed to the increasing genomic research where genome sequencing and mapping of target DNA or RNA samples are of supreme significance.
Technological Advancements to Uplift Market Growth
Latest developments in bioinformatics tools and research have led to a substantial availability of genomic data on platforms. Constant improvements in technology are observed with the increasing need for accuracy and performance in research activities. These advancements are anticipated to spur the revenue of the next-generation sequencing data analysis market.
For instance, Longas Technologies Pty Ltd recently revealed a disruptive technology, Morphoseq which is designed to radically improve the performance of next-generation sequencing platforms by boosting effective read lengths, with gains in accuracy and cost efficiency.
Increasing Biomedical Research to Offer Greater Regional Opportunities; North America to Take the Lead
The increasing biomedical research activities witnessed across a number of leading countries including Japan and China along with the extensive genomics-based research projects in Western Europe are resulting in the growth of the next-generation sequencing data analysis market in the respective regions. Moreover, the burgeoning research activities implementing next-generation sequencing data analysis are providing profitable avenues for the market players. According to the XploreMR study, the next-generation sequencing data analysis market in North America will outpace other regional markets over the period of forecast.
Strategic Assessment of the Competitive Landscape of Next-Generation Sequencing Data Analysis Market
XploreMR’s research reveals that the key players in the next-generation sequencing data analysis market are cited emphasizing on upgrading their existing service portfolio and strategies to address the service demands, with which they further aim to dominate the market. Moreover, increasing joint ventures, new service launches, mergers and acquisitions, and partnerships are estimated to propel the next-generation sequencing data analysis market growth.
XploreMR’s extensive next-generation sequencing data analysis market report profiles some of the key players operating in the market with respect to their significant market strategies. Some of the prominent players include F. Hoffmann-La Roche Ltd, Adaptive Biotechnologies, Perkinelmer, Inc., Agilent Technologies, Inc., Pacific Biosciences of California, Inc., BGI, Oxford Nanopore Technologies, Ltd., Oxford Nanopore Technologies, Ltd., iRepertoire, Inc, Takara Bio, Inc, Illumina, Inc., and among others.