PUBLISHER: Grand View Research | PRODUCT CODE: 1529795
PUBLISHER: Grand View Research | PRODUCT CODE: 1529795
Gene Prediction Tools Market Size & Trends
The global gene prediction tools market size was estimated at USD 139.8 million in 2023 and is projected to grow at a CAGR of 18.57% from 2024 to 2030. This can be attributed to the increasing R&D in biotechnology and pharmaceuticals, technological advancements in genomics, the growing demand for personalized medicine, and the rising prevalence of genetic disorders. Moreover, growth in government initiatives and funding, and the integration of AI and ML are driving the adoption of gene prediction tools. For instance, in December 2022, the UK government announced to invest around USD 190 million in cutting-edge genomics research to establish an advanced genomic healthcare system.
The growing prevalence of genetic disorders and the need for early diagnosis and intervention are driving the demand for gene prediction tools. Accurate gene prediction can facilitate the identification of genetic mutations associated with various diseases, enabling early diagnosis and improved patient outcomes. For instance, genetic disorders such as cystic fibrosis, muscular dystrophy, and certain types of cancer can be better managed with early and precise genetic identification.
The rapid progress in genomic technologies, such as next-generation sequencing (NGS) and bioinformatics, has revolutionized gene prediction. These advancements have enabled more accurate and efficient identification of genes, driving the adoption of gene prediction tools. For instance, the advent of high-throughput sequencing technologies allows for comprehensive analysis of entire genomes, providing vast amounts of data that can be analyzed using sophisticated gene prediction algorithms. By identifying specific genetic variations, healthcare providers can customize treatments for conditions like cancer, cardiovascular diseases, and rare genetic disorders.
Government initiatives and increased funding for genomic research are also significant drivers of the gene prediction tools market. Governments and research institutions worldwide are investing in genomic projects to advance scientific understanding and improve public health. For instance, the National Institutes of Health (NIH) in the U.S. has funded numerous genomic research initiatives, including the Human Genome Project and the All of Us Research Program. In February 2024, the Australian Government announced the investment of USD 500.1 million in genomic research under the Genomics Health Futures Mission to enhance disease testing and diagnosis, provide personalized treatment options, and improve health outcomes while reducing unnecessary interventions and health costs. Such initiatives provide substantial support for the development and adoption of gene prediction tools, fostering market growth.
Global Gene Prediction Tools Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global gene prediction tools market report based on type, method, application, end-use, and region.
U.S.
Canada
Mexico
UK
Germany
France
Italy
Spain
Denmark
Sweden
Norway
Japan
China
India
Australia
South Korea
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait