In 2023, the gene prediction tools industry size is expected to be worth USD 127.3 million. The market is expected to reach USD 680.9 million by 2033, expanding at an 18.3% CAGR throughout the forecast period.
The gene prediction tools industry is driven by growing significance of genomics research and its applications in various fields. Growth is also attributed to advances in genomics research, increased use of personalized medicine, and rising demand for bioinformatics solutions.
Academic institutions, research centers, biotechnology & pharmaceutical businesses, and healthcare providers all use gene prediction systems. This segmentation aids in the identification of target consumer segments and customizing of marketing & sales strategies accordingly.
Use of artificial intelligence in genomics has grown in terms of prominence in recent years. Artificial intelligence is utilized to analyze genetic data and create personalized treatment regimens for patients.
The method considers an individual’s genetic composition. It can also assist doctors in prescribing the most appropriate treatment for a specific patient. Such developments are further set to propel market expansion.
Need to understand the genetic basis of diseases and facilitate personalized therapy would help to push the market. Growing demand for speedy drug discovery, improvement in agricultural practices, and progression of genomics research in numerous domains would drive demand. These technologies are crucial in unlocking the potential of genomics data and transforming it into useful knowledge and applications.
Key Takeaways:
- From 2017 to 2022, the global gene prediction tools industry experienced a CAGR of 12.6%.
- The United States gene prediction tools industry is expected to reach a valuation of USD 307.9 million by 2033.
- The United Kingdom gene prediction tools industry is estimated to elevate at a CAGR of 19.0% during the evaluation period.
- China gene prediction tools industry is anticipated to showcase a valuation of over USD 40.4 million by 2033.
- The software segment based on components is estimated to exhibit a CAGR of 18.9% from 2023 to 2033.
“A key market driving factor is the ongoing shift toward more precise, thorough, and integrated techniques. Gene identification has developed quickly thanks to improvements in genome and functional genomics information availability, as well as molecular biology techniques. This factor would help to open the door to new opportunities” – Says a lead analyst.
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Competitive Landscape:
In order to take advantage of a competitor’s skills and increase their impact in the market, leading firms are forming tactical alliances and partnerships with other businesses. Gene prediction tool developers would strive to improve the accuracy and performance of their tools.
It involves refining the algorithms & models used for gene prediction, incorporating advanced machine learning & AI techniques, and optimizing computational efficiency. The focus is on enhancing the ability to accurately identify genes, predict gene structures, and provide reliable functional annotations.
Several key players would embrace open-source development models and actively engage with the research community. They might encourage collaboration, allow for continuous improvements through community contributions, and foster sharing of resources & expertise. Open-source gene prediction tools would facilitate innovation and support the broader scientific community.
Key firms are further enhancing their distribution networks and developing local manufacturing facilities to increase their presence in these areas. They are also focusing on giving cost-effective solutions to customers in these industries to acquire a competitive edge.
For instance:
- Lasergene 17.4 was introduced by DNASTAR in November 2022. With regard to variant analysis for multiple sequence alignments, it has a significant amount of new capabilities.
Key Companies Profiled:
- AZoLifeSciences
- Softberry
- DNASTAR
- Qiagen
- Illumina
- CLC bio
- BGI Genomics
- Genscript
- Exiqon
- Geneious
- Thermo Fisher Scientific
Gene Prediction Tools Market Outlook by Category:
By Component:
- Software
- Service
By Application:
- Diagnostics
- Drug Discovery & Designing
- Medical Research
- Others
By End User:
- Hospitals & Clinics
- Academic Institutes & Research Centers
- Biotechnology Companies
- Life Science Technology Vendors
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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