NGS Data Storage Market to grow with a CAGR of 10.12% through 2029
Rising prevalence of chronic diseases is expected to drive
the growth of Global NGS Data Storage Market during the forecast period.
According to TechSci Research report, “NGS Data Storage Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029”, the Global
NGS Data Storage Market stood at USD 889.34 million in 2023 and is anticipated to grow with a CAGR of 10.12%
in the forecast period, 2025-2029. The Global Next-Generation Sequencing (NGS)
Data Storage Market is experiencing notable growth due to the surging volume of
genomic data generated by NGS technologies. NGS, known for its high-throughput
sequencing capabilities, generates extensive data from DNA, RNA, and epigenetic
analyses, necessitating robust storage solutions. Market growth is primarily
fueled by the widespread adoption of NGS in genomics research, personalized
medicine, and clinical diagnostics. The exponential growth in genomic data, driven
by decreasing sequencing costs, is a key market driver, demanding scalable
storage solutions to adapt to the dynamic nature of these datasets. The
heightened awareness of the critical role of data management in genomics also
contributes to market expansion, with a focus on secure, accessible, and
efficient storage systems. Cloud-based storage solutions are gaining popularity
for their scalability, remote accessibility, and cost-effectiveness.
Innovations in data storage technologies, including distributed processing and
compression techniques, aim to enhance the speed and accessibility of handling
large genomic datasets. The Global NGS Data Storage Market is marked by
strategic collaborations between NGS technology providers and storage solution
vendors, emphasizing integrated solutions that manage the entire
sequencing-to-analysis workflow. This collaborative approach underscores the
evolving landscape of genomics research and the need for seamless, end-to-end
solutions in data storage and analysis.
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The Global NGS Data Storage Market is segmented into offerings, read length, sourcing type, application, end
user, regional distribution, and company.
In 2023, the market is segmented by application into oncology, rare diseases, reproductive health, infectious diseases, central nervous system, and others. Oncology emerged as the dominant sector, attributed to the pivotal role of Next-Generation Sequencing (NGS) in cancer genomics. NGS enables comprehensive genomic profiling, facilitating precise identification of genetic mutations and alterations in tumors. This information is crucial for personalized cancer treatment, prognosis, and drug development. With the rising prevalence of cancer and demand for targeted therapies, NGS technologies adoption in oncology is on the rise, making it the leading segment in the market. This underscores the importance of NGS in advancing precision medicine and enhancing outcomes for cancer patients.
On the other hand, in terms of end-users, the market is segmented into academic and research institutions, pharmaceutical and biotechnology companies, molecular diagnostic laboratories, and others. Molecular diagnostic laboratories dominated the market in 2023, driven by the increasing adoption of molecular diagnostics for disease detection and personalized medicine. These laboratories heavily rely on Next-Generation Sequencing (NGS) data storage solutions to manage the growing genomic data generated during diagnostic procedures. The accuracy and efficiency provided by NGS technologies in identifying genetic variations contribute to the prominence of molecular diagnostic laboratories. Furthermore, advancements in genomic research and the growing emphasis on molecular diagnostics in healthcare are driving demand for sophisticated data storage solutions, consolidating the dominance of this segment in the Global NGS Data Storage Market.
Major companies operating in Global NGS Data Storage
Market are:
- Agilent
Technologies, Inc.
- BGI Group
- DNAnexus, Inc.
- F. Hoffmann-La
Roche Ltd.
- Illumina, Inc.
- Perkin Elmer, Inc.
- Pacific Biosciences of California, Inc.
- Qumulo, Inc.
- QIAGEN N.V.
- Thermo Fisher
Scientific, Inc
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“The Global NGS Data Storage Market is driven by the
exponential growth of genomic data, propelled by the widespread adoption of
Next-Generation Sequencing (NGS) technologies. Decreasing sequencing costs lead
to increased genomic information generation, necessitating scalable and
flexible storage solutions. Heightened awareness of data management's
importance in genomics, coupled with advancements in storage technologies,
fuels market growth. Cloud-based solutions gain traction for their scalability
and cost-effectiveness. Collaborations between NGS technology providers and
storage vendors facilitate integrated solutions, addressing the demand for
end-to-end management of the sequencing-to-analysis workflow, contributing to
the market's dynamic expansion” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“NGS Data Storage Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Offerings (Data Storage Solutions, Data Analysis Services, Other Offerings), By Read Length (Long Read Length, Short Read Length), By Sourcing Type (In-house NGS Data Storage, Outsourced NGS Data Storage), By Application (Oncology, Rare Diseases, Reproductive Health, Infectious Diseases, Central Nervous System, Others), By End User (Academic and Research Institutions, Pharmaceutical and Biotechnology Companies, Molecular Diagnostic Laboratories, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
NGS Data Storage Market and provides statistics & information on Market size,
structure and future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global NGS Data Storage
Market.
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