The global next-generation sequencing data analysis market accounted for USD 1.08 billion in 2023 and is expected to reach USD 10.53 billion by 2034 with a CAGR of 22.92% during the forecast period 2024-2034. The market will grow as a result of developments in NGS technologies, expanding applications in genomics research, expanding clinical applications, rising need for bioinformatics expertise, and partnerships and collaborations.
The adoption of NGS data analysis tools has been fueled by ongoing developments in NGS technologies, which have dramatically decreased the cost and time required for sequencing. The demand for complex data analysis tools and software is expected to rise as a result of these technologies, which allow for high-throughput sequencing with improved accuracy and sensitivity. For instance, Illumina expanded its range of next-generation sequencing technologies with the announcement of the NovaSeq 7000 System's introduction in January 2024.
By product, the analytical software segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the increasing complexity of sequencing data and the demand for advanced tools to process and interpret it accurately. For instance, in February 2024, Mesa Biotech, Inc. was acquired by Thermo Fisher Scientific, expanding the company's molecular diagnostics capabilities. Additionally, the NGS commercial software segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of NGS in clinical diagnostics and personalized medicine, driving demand for user-friendly and regulatory-compliant software solutions.
By workflow, the secondary analysis segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the growing complexity of sequencing data and the need for advanced algorithms and pipelines to extract meaningful insights. For instance, Qiagen introduced the QIAseq DIRECT SARS-CoV-2 Kit in March 2023, a cutting-edge sequencing option for COVID-19 research and surveillance. Additionally, the tertiary analysis segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on interpreting and integrating multi-omics data for a comprehensive understanding of biological systems and disease mechanisms.
By mode, the in-house analysis segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the preference of some research institutions and large organizations for developing customized analysis pipelines tailored to their specific needs and data sets. For instance, BGI Genomics announced in February 2024 that it was expanding its genome sequencing services by adding new technologies and improving data analysis capabilities. Additionally, the outsourced analysis segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of NGS in smaller research labs and clinical settings that lack the expertise or resources for in-house analysis, leading to greater reliance on outsourcing services for data analysis.
By read length, the short-read sequencing segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the wide adoption of short-read sequencing platforms like Illumina due to their established technology, cost-effectiveness, and extensive applications in genomics research and clinical diagnostics. For instance, Agilent released the SureSelect XT HS2 RNA Reagent Kit in December 2023, which made sensitive and effective RNA sequencing possible for scientific uses. Additionally, the long-read sequencing segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for long-read sequencing technologies, such as those offered by PacBio and Oxford Nanopore, due to their ability to resolve complex genomic regions, detect structural variations, and provide comprehensive insights into genome architecture and function.
By end-user, the academic research segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the significant funding in academic institutions for genomics research projects, driving the demand for NGS data analysis solutions to support various studies and discoveries. For instance, Oxford Nanopore Technologies announced the release of the Flongle Mk2 sequencing device in March 2024, which offers enhanced scalability and performance for nanopore sequencing. Additionally, the hospitals and clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of NGS-based diagnostics and personalized medicine approaches in clinical practice, driving demand for data analysis solutions to support genomic testing and interpretation for patient care.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of a well-established healthcare infrastructure, robust funding for research and development, and early adoption of NGS technologies in both research and clinical settings. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, increasing investments in genomics research, and growing adoption of NGS technologies in emerging economies such as China and India. For instance, in March 2022, researchers from Michigan State University and Spectrum Health worked together to collect and analyze genomic data to address the problems posed by the COVID-19 pandemic and other new infectious diseases.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The adoption of NGS data analysis tools has been fueled by ongoing developments in NGS technologies, which have dramatically decreased the cost and time required for sequencing. The demand for complex data analysis tools and software is expected to rise as a result of these technologies, which allow for high-throughput sequencing with improved accuracy and sensitivity. For instance, Illumina expanded its range of next-generation sequencing technologies with the announcement of the NovaSeq 7000 System's introduction in January 2024.
By product, the analytical software segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the increasing complexity of sequencing data and the demand for advanced tools to process and interpret it accurately. For instance, in February 2024, Mesa Biotech, Inc. was acquired by Thermo Fisher Scientific, expanding the company's molecular diagnostics capabilities. Additionally, the NGS commercial software segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of NGS in clinical diagnostics and personalized medicine, driving demand for user-friendly and regulatory-compliant software solutions.
By workflow, the secondary analysis segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the growing complexity of sequencing data and the need for advanced algorithms and pipelines to extract meaningful insights. For instance, Qiagen introduced the QIAseq DIRECT SARS-CoV-2 Kit in March 2023, a cutting-edge sequencing option for COVID-19 research and surveillance. Additionally, the tertiary analysis segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on interpreting and integrating multi-omics data for a comprehensive understanding of biological systems and disease mechanisms.
By mode, the in-house analysis segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the preference of some research institutions and large organizations for developing customized analysis pipelines tailored to their specific needs and data sets. For instance, BGI Genomics announced in February 2024 that it was expanding its genome sequencing services by adding new technologies and improving data analysis capabilities. Additionally, the outsourced analysis segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of NGS in smaller research labs and clinical settings that lack the expertise or resources for in-house analysis, leading to greater reliance on outsourcing services for data analysis.
By read length, the short-read sequencing segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the wide adoption of short-read sequencing platforms like Illumina due to their established technology, cost-effectiveness, and extensive applications in genomics research and clinical diagnostics. For instance, Agilent released the SureSelect XT HS2 RNA Reagent Kit in December 2023, which made sensitive and effective RNA sequencing possible for scientific uses. Additionally, the long-read sequencing segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for long-read sequencing technologies, such as those offered by PacBio and Oxford Nanopore, due to their ability to resolve complex genomic regions, detect structural variations, and provide comprehensive insights into genome architecture and function.
By end-user, the academic research segment accounted for the highest revenue-grossing segment in the global next-generation sequencing data analysis market in 2023 owing to the significant funding in academic institutions for genomics research projects, driving the demand for NGS data analysis solutions to support various studies and discoveries. For instance, Oxford Nanopore Technologies announced the release of the Flongle Mk2 sequencing device in March 2024, which offers enhanced scalability and performance for nanopore sequencing. Additionally, the hospitals and clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased adoption of NGS-based diagnostics and personalized medicine approaches in clinical practice, driving demand for data analysis solutions to support genomic testing and interpretation for patient care.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of a well-established healthcare infrastructure, robust funding for research and development, and early adoption of NGS technologies in both research and clinical settings. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, increasing investments in genomics research, and growing adoption of NGS technologies in emerging economies such as China and India. For instance, in March 2022, researchers from Michigan State University and Spectrum Health worked together to collect and analyze genomic data to address the problems posed by the COVID-19 pandemic and other new infectious diseases.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Workflow, Mode, Read Length, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Next-generation Sequencing Data Analysis Market Report 2023 - 2034
Next-generation Sequencing Data Analysis Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Services
- NGS Commercial Software
- Platform OS/UI
- Analytical Software
- QC/Pre-processing Tools
- Alignment Tools and Software
- DNA Seq Alignment
- RNA Seq Alignment
- Protein Seq Alignment
- Others
Next-generation Sequencing Data Analysis Market Analysis & Forecast by Workflow 2023 - 2034 (Revenue USD Bn)
- Primary
- Secondary
- Read Mapping
- Variant Alignment and Variant Calling
- Tertiary
- Variant Annotation
- Application Specific
- Targeted Sequencing/Gene Panel
- Exome
- RNA Seq
- Whole Genome
- Chip Seq
- Others
Next-generation Sequencing Data Analysis Market Analysis & Forecast by Mode 2023 - 2034 (Revenue USD Bn)
- In-house
- Outsource
Next-generation Sequencing Data Analysis Market Analysis & Forecast by Read Length 2023 - 2034 (Revenue USD Bn)
- Long Read Sequencing
- Short Read Sequencing
- Very long Read Sequencing
Next-generation Sequencing Data Analysis Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Academic Research
- Clinical Research
- Hospitals and Clinics
- Pharma and Biotech Entities
- Other Users
Next-generation Sequencing Data Analysis Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Next-generation Sequencing Data Analysis Market: Product Estimates & Trend Analysis
8. Next-generation Sequencing Data Analysis Market: Workflow Estimates & Trend Analysis
9. Next-generation Sequencing Data Analysis Market: Mode Estimates & Trend Analysis
10. Next-generation Sequencing Data Analysis Market: Read Length Estimates & Trend Analysis
11. Next-generation Sequencing Data Analysis Market: End-user Estimates & Trend Analysis
12. Regional Market Analysis
13. North America Next-generation Sequencing Data Analysis Market
14. Europe Global Next-generation Sequencing Data Analysis Market
15. Asia Pacific Global Next-generation Sequencing Data Analysis Market
16. Latin America Global Next-generation Sequencing Data Analysis Market
17. MEA Global Next-generation Sequencing Data Analysis Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- BGI Genomics Co. Ltd.
- Agilent Technologies Inc.
- Oxford Nanopore Technologies Ltd.
- Pacific Biosciences of California Inc. (PacBio)
- DNAnexus Inc.
- Partek Inc.
- Seven Bridges Genomics Inc.
- Genomatix Software GmbH
- SOPHiA GENETICS SA
- EdgeBio
- Biomatters Ltd.
- DNASTAR Inc.
