Next Generation Sequencing (NGS) Data Analysis Market to Reach $2.03 Billion, Globally, by 2024 – Hexa Reports

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Higher usage of NGS in academic institutes and university based research centers for the purpose of fellowship projects is supportive for the largest share of academic end-users in NGS data interpretation market

Global NGS data analysis market is anticipated to reach USD 2.03 billion by 2024, according to a new report by Grand View Research, Inc. Growth in next generation sequencing and data analysis market is driven by rise in adoption of laboratory management system (LIMS) in order to safeguard theobtained raw structure using downstream analyses.

Demand for the data solutions that ensure provision of complete traceability of the workflow implemented during interpretation are expected to boost R&D in this market thereby leading to growth through to 2024. Additionally, ongoing research endeavors for monitoring and standardization of data flowwith respect to input and output directories, even with multiple evaluation protocols being used on the same data, are anticipated to fuel progress in the coming years.

In order to reduce the turnaround time for analysis, software modularity is being implemented using parallel computation pertaining to cloud computing and multicore processors, which in turn is attributive to fuel revenue generation.

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Further key findings from the report suggest:

Platform OS/UI accounted for the revenue share of over 52% because of the cost associated with the design of platforms used in storage and management of vast amount of sequence information obtained from high throughput sequencers. Moreover, running the analysis on graphical user interface based softwares and connecting it with command-line interfaces that are implemented on Linux/Unix operating systems requires substantial research thus leading to growth in this range of products.

Tertiary data analysis dominates the market space in context to market revenue as a result of the presence of several state-of-the art tools useful for variant annotation and application specific biological interpretation of sequence information. Furthermore, introduction of tools that use Python modulesand enable Unix command-lineusers to execute projects on the supported pipelines, that can be debugged and corrected through built-in version controls.

In-house sequence interpretation accounted for the larger share of market revenue due to the presence of high budget allocation by the companies involved, for installation of algorithmictools and purchase of licensed softwares. Moreover, the research entities are following the trend of outsourcing data interpretation services to subsidiary branches and their own bioinformatics departments that even though technically constitutes outsourcing, consequently ends up adding to the in-house data analysis revenue.

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Higher usage of NGS in academic institutes and university based research centers for the purpose of fellowship projects is supportive for the largest share of academic end-users in NGS data interpretation market. Furthermore, rising implementation of NGS in disease diagnosis and etiology study is expected to boost revenue generation through to 2024.

North America held the largest share in 2015, accounting for about46% of total revenue.Presenceof key participants operating in biotechnology as well as information technology sector in this region aresupportive for the estimated revenue share of the region.

Asia Pacific is estimated to witnessthe fastest growth over the forecast period owing to the rising usage of novel platforms and solutions in the developing economies of this region. Moreover, provision of these services by the prominent players in economies of this region has poised this region to exhibit potentially high value avenues and opportunities for growth over the forecast period.

Key players operating in this industry includeIllumina Inc., Congenica, Ingenuity, Omicia, Inc. Station X, Inc., WuXiNextCODE, DNAnexus, SevenBridges Genomics, Bluebee, Genalice, and Edico Genome.

In addition to the established companies, there is significant impact of open source tools for sequence analysisin the form of standalone solutions or in combination with commercialproducts.

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