Outlook on the NGS Data Storage Global Market to 2033: Declining Cost of Cloud-Based Data Storage Solutions Drives Growth

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Jun 13, 2023, 11:45 ET

DUBLIN, June 13, 2023 /PRNewswire/ -- 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.

Impact of COVID-19

The SARS-CoV-2 virus changed multiple times during the pandemic through mutations and has a constantly evolving nature. Continuous monitoring of the viruses' genomes is vital for the various diagnostic assays in different locations.

Several non-commercial protocols and commercial kits were made available for amplicon SARS-CoV-2 preparation, some of which were adapted by NGS platforms. Leading market players in the NGS data storage market that offer NGS data analysis solutions are undertaking strategic partnerships and collaborations to refine their product portfolios and maintain a strong global NGS data storage market.

There was the adoption of a bioinformatics platform by research laboratories during the pandemic, and the virus is still being sequenced even during the post-pandemic era. For example, in early 2023, the latest variant of XBB.1.5, which is a subvariant of Omicron, has become the most transmissible strain of the COVID-19 virus so far.

Thus, the need to keep sequencing this virus is constant. The pandemic has also spurred genome sequencing committees around the world, which are sequencing infectious diseases like never before. An enormous amount of NGS data is being produced, which requires effective data analysis and data storage.

The petabyte (PB) and zettabyte (ZB) are required to process and analyze data in the life sciences and pharmaceutical industry. The demand for data storage is anticipated to increase more in the future with the rapid usage of cloud-based solutions offered by companies to understand the mechanism of coronavirus to prevent future outbreaks.

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.

Demand - Drivers and Limitations

The following are the demand drivers for Global NGS Data Storage Market:

Declining cost of cloud-based data storage solutions
Increasing demand for sequencing at higher depth
Growing number of population genomics studies and initiatives globally
Rising adoption of cloud-based data storage solutions

The market is expected to face some limitations, too, due to the following challenges:

Genomic data privacy and security concerns
Increasing volume of data storage and its complexity

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The leading top segment players include NGS data storage solutions and service providers. Also, other segments such as read length, sourcing type, workflow, application, and end-user in the market have been considered as part of the scope of the study.

Among the read length segment, the short-read length segment dominated in the year 2022 with a market share of 68.37%

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.

Key Topics Covered:

1 Markets

2 Market Overview

3 Industry Analysis
3.1 Legal Requirements
3.1.1 Legal Requirements and Framework in the U.S.
3.1.1.1 U.S. FDA Published Guidance
3.1.1.2 U.S. FDA Regulations
3.1.2 Legal Requirements and Framework in Europe
3.1.2.1 European Medicine Agency (EMA)
3.1.2.2 Various Guidelines Related to NGS in Europe
3.1.3 Legal Requirements and Framework in Asia-Pacific
3.1.3.1 China
3.1.3.2 Japan
3.1.3.2.1 Pharmaceuticals and Medical Devices Agency (PMDA)
3.1.3.2.2 Ministry of Health, Labor, and Welfare (MHLW)
3.1.3.3 India
3.2 Regulatory Compliance

4 Market Dynamics
4.1 Overview
4.2 Impact Analysis
4.3 Market Drivers
4.3.1 Declining Cost of Cloud-based Data Storage Solutions
4.3.2 Increasing Demand for Sequencing at Higher Depth
4.3.3 Growing Number of Population Genomic Studies and Initiatives Globally
4.3.4 Rising Adoption of Cloud-based Data Storage Solutions
4.4 Market Challenges
4.4.1 Genomic Data Privacy and Security Concerns
4.4.2 Increasing Volume of NGS Data Generated and its Complexity
4.5 Market Opportunities
4.5.1 Data Compression Efforts by Companies
4.5.2 Advancements in Big Data Technology Enabling Efficient Data Storage

5 Competitive Landscape
5.1 Overview
5.2 Corporate Strategies
5.2.1 Mergers and Acquisitions
5.2.2 Synergistic Activities
5.3 Business Strategies
5.3.1 Product Launches/Upgradations
5.3.2 Business Expansion, Funding, and Others
5.4 Market Share Analysis (by Company)
5.5 Growth Share Analysis
5.5.1 Growth Share Analysis (by Read Length)
5.5.2 Growth Share Analysis (by Sourcing Type)

6 Global NGS Data Storage Market (By Offerings), ($Billion), 2022-2033
6.1 Overview
6.2 Data Storage Solutions
6.2.1 Cloud-based Data Storage Solutions
6.2.2 On-Premises Data Storage Solutions
6.3 Data Analysis Services
6.4 Other Offerings

7 Global NGS Data Storage Market (by Read Length), ($Billion), 2022-2033
7.1 Overview
7.2 Long-read Length
7.3 Short-read Length

8 Global NGS Data Storage Market (by Sourcing Type), $Billion, 2022-2033
8.1 Overview
8.2 In-house NGS Data Storage
8.3 Outsourced NGS Data Storage

9 Global NGS Data Storage Markets (by Application), $Million, 2022-2033
9.1 Overview
9.2 Oncology
9.3 Rare Diseases
9.4 Reproductive Health
9.5 Infectious Diseases
9.6 Central Nervous System (CNS)
9.7 Other Applications

10 Global NGS Data Storage Market (By End User), ($Million), 2022-2033
10.1 Overview
10.2 Academic and Research Institutions
10.3 Pharmaceutical and Biotechnology Companies
10.4 Molecular Diagnostic Laboratories
10.5 Other End Users

11 Global NGS Data Storage Market, by Region, $Million, 2022-2033

12 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/6f44s1

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