According to FutureWise analysis the market for Next-generation Sequencing Data Analysis in 2023 is US$ 1.08 billion, and is expected to reach US$ 5.68 billion by 2031 at a CAGR of 23.00%.
Massively parallel sequencing (MPS) and next-generation sequencing (NGS) are words that describe a DNA sequencing technology that has greatly benefited biotechnology, medical diagnosis, forensic biology, biological systematics, and virology. The introduction of next-generation sequencing (NGS) has altered the way clinical research, basic science, and applied science are conducted. Next-generation sequencing technology, in compared to previous Sanger sequencing technology, allows for the sequencing of an entire human genome in a fraction of the time. Next-generation sequencing has affected the change from a traditional medicine paradigm of diagnosis to a precision medicine paradigm, allowing for the identification of biomarkers for early diagnosis and customised therapy. While Next Generation Sequencing is still a relatively young technology, it has swiftly become a cornerstone of molecular biology and genetics, with applications in personalised medicine, hereditary illnesses, and clinical diagnostics. Because it includes preparing the material for the future sequencing reaction, DNA pre-sequencing is one of the most important procedures in the total sequencing protocol. NGS is steadily being integrated into clinical laboratory analysis, testing, and illness diagnosis in the worldwide healthcare sector. NGS has been widely used in pharmacogenomics to speed up the drug discovery process. Increased genome mapping studies, increased uses of next generation sequencing, increased healthcare expenditure, and technological developments in sequencing platforms are all driving the industry forward.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Next-generation Sequencing Data Analysis Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Next-generation Sequencing Data Analysis Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.