The global market for next-generation sequencing data analysis reached $ 600 million in 2020 and is anticipated to increase at a CAGR of 17% during the forecast period of 2023 to 2030. Next generation sequencing allows researchers to examine biological systems deeply due to the unprecedented throughput, speed, and scalability of these systems. NGS, commonly referred to as high throughput sequencing, is used to designate a variety of contemporary sequencing technologies. Due to the next generation sequencing's high throughput, scalability, and speed, researchers are able to thoroughly analyse biological systems.

The emphasis on genome surveillance has intensified as a result of uncontrolled spread of COVID-19. Services segment is anticipated to increase at a CAGR of 15% during the forecast period. Following a thorough examination of the financial impact of the pandemic and the economic crisis it caused, the growth rate for the NGS Commercial Software category is revised to 13.5% CAGR during the forecast period. NGS Commercial Software held about 45 % market share for Next Generation Sequencing (NGS) Data Analysis worldwide in 2021. Growing acceptance and knowledge of such genome surveillance systems can be extremely effective in managing upcoming medical emergencies. Additionally, in the upcoming years, the development of such platforms is anticipated to open up a sizable window of opportunity for next-generation sequencing data analysis systems.

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Today, complexities involved in genomic research demands a higher level of understanding than what is offered by traditional DNA sequencing methodologies. Next-generation sequencing has become an everyday research tool and filled the gap to cater to these needs. The continuous advancements in cloud computing and data integration solutions are effectively addressing data handling bottlenecks, which involves analyzing a sizable volume of high-throughput sequence data. Technological advancements in bioinformatics are anticipated to provide lucrative opportunities to this vertical and hence propel growth of the global NGS data analysis market in the near future.

Product Segmentation: Analytical software category is anticipated to develop profitably throughout the forecast period due to strong demand and growing awareness of sequencing technologies. There is a significant demand for these tools and algorithms because NGS generates a lot of data that requires management platforms and solutions.

Workflow Segmentation: Over the forecast period, secondary data analysis is expected to have the highest CAGR. To meet the growing demand for whole-genome sequencing, quicker secondary analytic techniques are needed. By using field-programmable gate arrays that operate in the cloud, it is crucial to scale up the sample throughput and reduce the amount of time needed to execute secondary whole-genome sequencing analysis.

By Mode Segmentation: Over the forecast period, the outsourced mode is anticipated to have the fastest CAGR. Companies like SciBerg offer outsourced services due to the cost savings that outsourcing mode offers. When compared to the price of creating a DNA library and deep sequencing, the company's services enable NGS data processing at a very low cost. However, it is anticipated that the revenue generation from this area will decline due to the poor adoption of outsourced services among large, international pharmaceutical and biotechnology businesses.

End User Segmentation: During the forecast period of 2023 to 2030, the clinical research market is anticipated to develop at the fastest rate. Clinical research is predicted to rise as a result of research projects aimed at creating in vitro tests that use sequencing technologies. Furthermore, the demand for the technique is anticipated to rise dramatically with the introduction of tailored therapy and companion diagnostics for tracking disease development.

In 2021, Europe accounted for the greatest revenue share of over 45%. This can be due to the presence of numerous businesses using data analysis software in this area, including a sizable number of prominent firms like Illumina, Thermo Fisher Scientific, and Agilent Technologies. The demand for NGS software tools is growing as more NGS research initiatives are carried out in European universities. The U.K. reported the highest number of published COVID-19 genomic sequences, or 38.9% of all published data, according to a study on COVID-19 genomic sequencing for countries. Such institutional endeavours increase demand for NGS technology for COVID-19, which in turn increases demand for NGS data analysis tools. Similarly, Germany is expected to grow at a CAGR of 14.5% during the forecast period.

Over the projected period, Asia Pacific is anticipated to develop at the fastest rate. This is mostly caused by the rise in funds for sequencing projects in these region's emerging nations. The second-largest economy in the world, China, is anticipated to grow at a CAGR of 15% during the forecast period. Similarly, Japan and Canada are expected to grow at a CAGR of 13% and 13.5% respectively during the forecast period.

The global next-generation sequencing data analysis market is highly competitive, with the presence of several prominent players. Many of these players have become successful owing to years of delivering consistent results and are expected to account for a large share in the overall market, in future. Some of the leading companies in the global NGS data analysis market includes Illumina Inc., Ingenuity, Station X Inc., DNAnexusSevenBridges Genomics, Genalice, Congenica, Omicia Inc., WuXiNextCODE, Bluebee, and Edico Genome. Illumina and QIAGEN are the two major players in this market. The NGS data analysis software platform offered by QIAGEN is useful at all stages of the workflow. In addition, the company’s investments and acquisitions of several NGS informatics firms have significantly enhanced its market share.

Key Market Trends

• The global market for next-generation sequencing data analysis reached $ 600 million in 2020 and is anticipated to increase at a CAGR of 17% during the forecast period of 2023 to 2030.
• Analytical software category is anticipated to develop profitably throughout the forecast period due to strong demand and growing awareness of sequencing technologies.
• Over the forecast period, secondary data analysis is expected to have the highest CAGR.
• Over the forecast period, the outsourced mode is anticipated to have the fastest CAGR.
• In 2021, Europe accounted for the greatest revenue share of over 45%. This can be due to the presence of numerous businesses using data analysis software in this area, including a sizable number of prominent firms like Illumina, Thermo Fisher Scientific, and Agilent Technologies.
• Germany is expected to grow at a CAGR of 14.5% during the forecast period.
• The second-largest economy in the world, China, is anticipated to grow at a CAGR of 15% during the forecast period.
• Japan and Canada are expected to grow at a CAGR of 13% and 13.5% respectively during the forecast period.
• The global next-generation sequencing data analysis market is highly competitive, with the presence of several prominent players.
• Some of the leading companies in the global NGS data analysis market includes Illumina Inc., Ingenuity, Station X Inc., DNAnexusSevenBridges Genomics, Genalice, Congenica, Omicia Inc., WuXiNextCODE, Bluebee, and Edico Genome. Illumina and QIAGEN are the two major players in this market.

*Complete segmentation list is on report page