The global gene prediction tools market is projected to reach USD 127.3 million in 2023 and is expected to experience significant growth over the next decade, surpassing USD 680.9 million by 2033. According to Future Market Insights, this robust expansion corresponds to a remarkable CAGR of 18.3% during the forecast period, highlighting the increasing reliance on advanced genomics technologies across various sectors.
Key Growth Drivers
Several factors are contributing to the rapid growth of the gene prediction tools market:
- Rising Demand for Personalized Medicine: The shift towards personalized medicine is driving the need for accurate gene prediction tools, enabling healthcare providers to tailor treatments based on individual genetic profiles.
- Advancements in Genomic Research: Ongoing developments in genomic research and bioinformatics are leading to the creation of more sophisticated gene prediction tools that enhance the accuracy and efficiency of genetic analyses.
- Increasing Investment in Biotechnology: Growing investments in biotechnology and genomics research by both public and private sectors are fostering innovation and driving market growth.
The field of genomics has experienced significant advancements in recent years. High-throughput sequencing technologies have become more accessible and cost-effective, allowing researchers to generate vast amounts of genomic data. As a result, there is a growing need for tools that can efficiently analyze and interpret this data, pushing gene prediction tool sales.
Gene prediction tools help in identifying and characterizing genetic variations within an individual or a population. These variations can be linked to various diseases, drug responses, or other phenotypic traits. With increasing emphasis on personalized medicine and precision healthcare, there is a rising demand for accurate gene prediction tools that can assist in understanding the impact of genetic variations on health and disease.
Gene prediction tools are also essential in functional genomics research, where scientists aim to understand the biological functions of genes and their regulatory elements. These tools can predict functions of newly sequenced genes by analyzing their sequence features, evolutionary conservation, or similarities to known genes. This knowledge is crucial for uncovering the underlying mechanisms of diseases, drug discovery, and developing targeted therapies.
Demand for gene prediction tools is further increasing in the field of agriculture and biotechnology. Researchers and breeders utilize these tools to identify genes associated with desirable traits in crops, animals, and other organisms.
Gene prediction tools aid in improving crop yield, disease resistance, nutritional value, and other important agricultural traits. They are also instrumental in genetic engineering and synthetic biology efforts aimed at developing novel biotechnological products.
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
The competitive landscape of the gene prediction tools industry is dynamic. It is characterized by a range of players, including both established companies and emerging start-ups. These companies would compete to provide gene prediction software, platforms, and related services to researchers, clinicians, pharmaceutical companies, and other stakeholders.
Key Strategies Adopted by Renowned Players:
- Product Innovation
Companies would invest hugely in research & development to introduce innovative products that offer enhanced efficiency, reliability, and cost-effectiveness. Product innovation can enable companies to differentiate themselves from their competitors and cater to evolving needs of customers.
- Strategic Partnerships and Collaborations
Key players in the industry would often form strategic partnerships and collaborations with other companies to leverage their strengths and expand their reach in the market. Such collaborations would also allow companies to gain access to new technologies and markets.
- Expansion into Emerging Markets
The gene prediction tools industry is witnessing significant growth in emerging markets such as China and India. Key players are expanding their presence in these markets by establishing manufacturing facilities at local level, thereby, strengthening their distribution networks.
- Mergers and Acquisitions
Key players in the gene prediction tools industry would often engage in mergers and acquisitions. They would do so to expand their product portfolios, market position, and gain access to new markets.
Key developments in the gene prediction tools market:
- In November 2022, Lasergene 17.4 was announced by DNASTAR. It features a large amount of additional functionality geared toward variant analysis for multiple sequence alignments.
- QIAGEN and Neuron23 announced a collaboration in September 2022 to develop an additional diagnostic for Parkinson’s disease. It would include Neuron23’s brain penetrant leucine-rich repeat kinase (LRRK2) inhibitor.
- In March 2022, Illumina, Inc. announced the launch of TruSigh Oncology (TSO) Comprehensive (EU). It is an examination that assesses various tumor of a patient’s malignancy.
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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