PUBLISHER: The Business Research Company | PRODUCT CODE: 1643999
PUBLISHER: The Business Research Company | PRODUCT CODE: 1643999
Genomic data analysis and interpretation involve the process of analyzing the vast amount of information contained in an organism's deoxyribonucleic acid (DNA) to understand its structure, function and variations. This field uses computational tools, bioinformatics and statistical methods to process raw genomic data, such as sequences of nucleotides and interpret their biological significance.
The genomic data analysis and interpretation market consists of sales, by entities (organizations, sole traders, or partnerships), of products and services that facilitate the examination and understanding of genomic data derived from sequencing technologies.
The global genomic data analysis and interpretation market was valued at $999.47 million in 2018 which grew up till 2023 at a compound annual growth rate (CAGR) of more than 11.00%.
Growing Investments In Research And Development
During the historic period, the genomic data analysis and interpretation market was mainly driven by the growing investments in research and development. The investment in research and development (R&D) is growing due to technological advancements, global competition, market demand, regulatory pressures, global challenges, access to capital and the recognition of R&D as a key driver of long-term growth and competitiveness. This investment helps gene delivery technologies by enabling the development of new and improved delivery systems, enhancing targeting capabilities, improving safety profiles and expanding the range of applications, ultimately leading to more effective and personalized treatments for various diseases, including genetic disorders and cancer. For instance, according to the National Center for Science and Engineering Statistics, a US-based government agency, in 2022, state government agencies reported a total expenditure of $2.644 billion on research and experimental development (R&D). This represents a 5.2% increase from the previous year's expenditures of $2.513 billion. Further, According to the ClinicalTrials.gov Modernization Effort Report 2021-2022 by National Library of Medicine, a US-based biomedical library, in 2022, there were 440,400 clinical trials, observational studies and expanded access programs listed on ClinicalTrials.gov, showing a rise from the 403,188 registered studies in 2021. Therefore, the genomic data analysis and interpretation market was mainly driven by the growing investments in research and development.
Advancements In Lightspeed Technology For Faster And More Accurate Genomic Data Analysis
Major companies in the genomic data analysis and interpretation market are focusing on developing innovative products like lightspeed technology, to enhance the speed and accuracy of genetic data processing and interpretation for advanced healthcare solutions. Lightspeed technology refers to advanced computational tools and platforms that significantly accelerate the processing and analysis of genomic data. Lightspeed technology leverages high-performance computing and advanced algorithms to accelerate data throughput, which is crucial for handling the large volumes of data generated in genomic research and clinical diagnostics. For instance, in January 2024, QIAGEN N.V., a Germany-based company provider of sample and assay technologies for molecular diagnostics, applied testing, academic research and pharmaceutical research, launched ultra-fast next-generation sequencing (NGS) analysis for somatic cancer. The new software accelerator substantially cuts both time and cost for secondary analysis of NGS in somatic cancer. It can analyze a comprehensive 275-gene cancer panel at 3377x coverage in just 6 minutes, with a cost of less than $0.72 per test.
The global genomic data analysis and interpretation market is fairly fragmented, with large number of small players operating in the market. The top ten competitors in the market made up to 14.93% of the total market in 2023.
Genomic Data Analysis And Interpretation Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the genomic data analysis and interpretation market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for genomic data analysis and interpretation? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The genomic data analysis and interpretation market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider genomic data analysis and interpretation market; and compares it with other markets.
Global Market Size And Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.