Rising Incidence of Cancers Necessitating Next-Generation Sequencing Data Analysis
According to WHO, cancer is the second leading cause of death globally, and was responsible for an estimation of 9.6 million deaths in the year 2018.
- Globally, about 1 in 6 deaths are caused by a type of cancer.
- By 2030, the global burden of cancers is envisaged to grow beyond 21 million in terms of new cancer cases and nearly 13 million in terms of cancer-caused deaths.
Increasing biomedical research using next-generation sequencing (NGS) tools is expected to create a conducive atmosphere for the growth of the next-generation sequencing data analysis market in the near future. Recently, next-generation sequencing data analysis has been applied for the development of cancer biomarkers and immunotherapies, which clearly prompts that the increasing prevalence of cancers will accelerate the next-generation sequencing market growth, subsequently translating into the demand growth of NGS data analysis.
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In the recent years, there has been considerable interest in next-generation sequencing data analysis in oncology studies. Therefore, various clinical development programs in several countries are aimed at increased understanding of drug responses in clinical subpopulations and choose patient populations based primarily on their immune profiles.
Government Funds for Life Science Research Pushing Adoption of Next-Generation Sequencing Data Analysis
Government funding for life science research is expected to result in the availability of funding in research and academic establishments for undertaking of various next-generation sequencing data analysis projects, as well as for the employment of the required personnel. The various sources of research and development spending include governments, private funding, and commercial organizations.
For example, the total amount of the research grants awarded by the National Institutes of Health (NIH) in the U.S. exceeded US$ 21 Bn in 2015. Apart from government funding, the number of research laboratories are also increasing, which is another factor that is expected to boost the next-generation sequencing data analysis market.
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Descending Prices of Sequencing Uplift Demand for Next-Generation Sequencing Data Analysis
The characteristic features of NGS technology is implicated widely in research and academic institutes. Next-generation sequencing techniques offer a high percentage of reads and cost-effectiveness per read, which has been possible due to the launch of low-cost sequencing platforms in the market. For an instance, in 2000, cost for sequencing was US$ 3.7 billion, which dropped down to US$ 10 million in 2006 and further declined to US$ 5,000 in 2012.
Various key players such as Roche and Illumina, have introduced sequencing techniques that have reduced the cost of next-generation sequencing. To scale up to match Illumina’s HiSeq, Thermo Fischer Scientific Inc. entered to strengthen its market presence by launching its cost-effective sequencers. In 2015, the company unveiled the S5. Using cheaper sequencing reagents, the machine produces more specific results as compared to HiSeq, and is available at a price of US$65,000. Thermo’s strategic plan was to influence smaller sequencing customers by offering low cost sequencing platforms.
Technological Advancements in the Field of Genomics-based Bioinformatics Tools to Fillip Market Revenues
Recent developments in bioinformatics research and bioinformatics tools resulted in the availability of a considerable volume of genomic data on web-based bioinformatics platforms. To interpret large sequenced data sets, research analysts or data scientist can now compare and determine the quality of their sequencing run, evaluate in-line controls validation, assign sequences to known regions, and other sequences representing specific immune receptor clones for characterization.
For instance, in 2016, Illumina launched a BaseSpace Informatics Suite, which enables a lab with zero genomic computing infrastructure of its own to track genetic tests. The suite easily performs routine data analysis of sequences with a comprehensive library of available apps.
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Competition Insights
- The study has profiled some of the key players competing in global NGS data analysis industry, including Hoffmann-La Roche Ltd, Agilent Technologies, Inc, and Illumina, Inc, among others.
- Strategic collaborations between regionally as well as internationally operating companies are likely to supplement the number of facilities and services for NGS data analysis.
- The key service players are focused on adopting new strategies and policies, increasing point of sales and service agreements, promoting R&D collaborations across academic and research institutes.
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