It is anticipated that the gene prediction tools market size would grow to a size of US$ 127.3 million by 2023. The market is projected to reach US$ 680.9 million by 2033, growing at a compound yearly growth rate of 18.3%.
The gene prediction tools industry is driven by the 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 centres, 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.
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The 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.
A 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 market experienced a CAGR of 12.6%.
- The United States gene prediction tools industry is expected to reach a valuation of US$ 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’s gene prediction tools industry is anticipated to showcase a valuation of over US$ 40.4 million by 2033.
- The software segment based on components is estimated to exhibit a CAGR of 18.9% from 2023 to 2033.
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.
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Key Profiled:
- AZoLifeSciences
- Softberry
- DNASTAR
- Qiagen
- Illumina
- CLC bio
- BGI Genomics
- Genscript
- Exiqon
- Geneious
- Thermo Fisher Scientific
Key Segments:
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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