Global NGS Data Storage Market 2023 to 2033: Data Compression Efforts by Companies Presents Opportunities - ResearchAndMarkets.com

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The global NGS data storage market is projected to reach $6.96 billion by 2033 from $1.13 billion in 2022, growing at a CAGR of 18.02% during the forecast period 2023-2033.

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Friday, May 26, 2023
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Technology, Data Management, Cloud, Informatics, EWG, Amazon Web Services, QIAGEN, Twist Bioscience, Community Cyberinfrastructure for Advanced Microbial Ecology Research and Analysis, Software, Genomics, National Association of Testing Authorities, NGS, COVID-19, NATA, System, Mass meeting, Microsoft, Research, Whole genome sequencing, Sequence, Laboratory, Google Cloud, Algorithm, Twist, QDI, Microsoft Azure, WGS, Growth, Azure, Region, Rare, National Association, WES, Genome, Illumina, Inc., Video game, Pharmaceutical industry
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Summary
Key Points: 
  • The global NGS data storage market is projected to reach $6.96 billion by 2033 from $1.13 billion in 2022, growing at a CAGR of 18.02% during the forecast period 2023-2033.
  • Several companies have developed NGS informatics solutions to aid healthcare institutions and academic research centers.
  • NGS data is critical to researchers that offer storage solutions that are reliable while being easy to manage.
  • These services offer pay-as-you-go models, which make it easier for researchers to manage costs based on their data storage needs.


The "NGS Data Storage Market - A Global and Regional Analysis: Focus on Offerings, Read Length, Sourcing Type, Application, End User, and Country Analysis - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.

The global NGS data storage market is projected to reach $6.96 billion by 2033 from $1.13 billion in 2022, growing at a CAGR of 18.02% during the forecast period 2023-2033.

The growth in the NGS data storage market is expected to be driven by the rising adoption of next-generation sequencing (NGS) tool in research laboratories that generates a huge amount of data that is stored and analyzed for actionable insights. Several companies have developed NGS informatics solutions to aid healthcare institutions and academic research centers.

Market Lifecycle Stage

NGS data is critical to researchers that offer storage solutions that are reliable while being easy to manage. Sequencing companies are adopting cloud-based storage solutions that offer several advantages, including accessibility, scalability, and cost-effectiveness.

Cloud-based storage services are provided by various big IT vendors, such as Amazon Web Services, Google Cloud, and Microsoft Azure. These services offer pay-as-you-go models, which make it easier for researchers to manage costs based on their data storage needs.

Impact

NGS can be used to sequence the human genome and performed extensively in research laboratories during the COVID-19 pandemic. The technology generates an enormous amount of raw data that needs substantial amounts of computational processing to yield desired results. NGS also played a crucial role in advancing the research focused on tracing the origin of COVID-19.

NGS bioinformatic pipeline was in practice during the pandemic that is defined as a series of data algorithms that are run to generate interpretable data. The technological methods of NGS are in high adoption in commercial laboratory processes and use inevitable variations in the software and computational tools. All NGS bioinformatics pipelines share several major features, including variant annotation sequence generation, variant identification, assembly and alignment, and variant visualization.

Recent Developments in the Global NGS Data Storage Market

  • In March 2023, Illumina, Inc. launched its first product based on its long-read technology. The technology has high-performance, long-read sequencing technology that offers an application for whole-genome sequencing (WGS) assay, i.e., Illumina Complete Long Read Prep, Human, which is compatible with Illumina NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems.
  • In March 2023, Illumina, Inc. launched 'Connected Insights Software,' a new cloud-based software that helps in the tertiary analysis of clinical data. The software is being used by researchers for tertiary analysis for oncology applications and for rare diseases in the future.
  • In February 2023, Twist Bioscience gained early access to the Twist enhanced Whole Genome Sequencing (eWGS) solution targeted on non-human genomics applications at the Advances in Genome Biology and Technology (AGBT) 2023 General Meeting in Hollywood, Florida. eWGS is a novel solution that helps researchers to enable low-pass whole genome data together of selected regions in a cost-effective and high throughput workflow.
  • In January 2023, QIAGEN N.V. introduced the QIAGEN Digital Insights (QDI), the bioinformatics business of QIAGEN, and enhanced QIAGEN CLC Genomics Workbench Premium for a $1.0 computing cost for 25 minutes. The product helps to remove the data-analysis bottleneck of NGS by adding game-changing analysis speed to analyze and interpret whole exome sequencing (WES), whole genome sequencing (WGS), and large panel sequencing data.
  • In October 2022, BGI Australia's lab received the National Association of Testing Authorities (NATA) to perform clinical Whole Exome Sequencing (WES) in Australia. The company paved the way for the global life sciences company to provide clinical sequencing services.

Key Companies Profiled

  • Agilent Technologies, Inc.
  • BGI Group
  • DNAnexus, Inc.
  • Fabric Genomics, Inc.
  • F. Hoffmann-La Roche Ltd. (Roche Molecular Systems, Inc.)
  • Illumina, Inc.
  • PerkinElmer Inc.
  • PacBio.
  • QIAGEN N.V.
  • Qumulo, Inc.
  • Thermo Fisher Scientific Inc.

Market Dynamics

Drivers

  • Declining Cost of Cloud-based Data Storage Solutions
  • Increasing Demand for Sequencing at Higher Depth
  • Growing Number of Population Genomic Studies and Initiatives Globally
  • Rising Adoption of Cloud-based Data Storage Solutions

Challenges

  • Genomic Data Privacy and Security Concerns
  • Increasing Volume of NGS Data Generated and its Complexity

Opportunities

  • Data Compression Efforts by Companies
  • Advancements in Big Data Technology Enabling Efficient Data Storage

Market Segmentation

Segmentation 1: by Read Length

  • Short-read Length
  • Long-read Length

Segmentation 2: by Sourcing Type

  • In-house NGS Data Storage
  • Outsourced NGS Data Storage

Segmentation 3: by Offering

  • Data Storage Solutions
  • Data Analysis Services
  • Other Offerings

Segmentation 4: by Application

  • Oncology
  • Infectious Diseases
  • Rare Diseases
  • Reproductive Health
  • Central Nervous System (CNS)
  • Other Applications

For more information about this report visit https://www.researchandmarkets.com/r/4trqvu

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