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Genomic Data Analysis and Interpretation Market: Information by Application (Functional Genomics, Pathway Analysis), End User (Hospitals and Clinics), and Region — Forecast till 2030

Published At : 04 Aug, 2022
Updated At : 04 Aug, 2022
Market Snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
10.25 %
Fastest Growing Market:
Asia Pacific
Largest Market:
North America

The global genomic data analysis and interpretation market size was valued at USD 0.89 billion in 2021. It is expected to reach USD 2.15 billion by 2030, growing at a CAGR of 10.25% during the forecast period (2022–2030). NGS, also known as next-generation sequencing, is a concept used to describe various advanced sequencing technologies. Due to the high throughput, scalability, and speed of next-generation sequencing, researchers can investigate biological processes in depth. The complexity of genomic science necessitates a higher level of comprehension than what is offered by conventional DNA sequencing techniques. As a result, next-generation sequencing has filled in the holes to meet these higher-level understanding requirements and has become a popular analysis method.

The scalability of next-generation sequencing allows for changing the level of precision to satisfy laboratory needs, making it a digital alternative to sequence-based gene expression. The use of NGS approaches in conjunction with the clinical diagnosis for customized treatment of many disorders and genomic testing necessitates the development of fast and accurate algorithms and sequencing visualization techniques that can process data more quickly.

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Market Dynamics

Market Driving Factors

Growing Research into Epigenomic and Genomic Patterns to Propel Growth

Next-generation sequencing technology has aided the investigation of epigenomic, and genomic patterns linked to various biological processes. It is anticipated that problems with storing, maintaining, and gaining access to knowledge will create future research and development opportunities for the industry, which will lead to market expansion. Laboratory Information Management Systems, also known as LIMS, is essential in scientific communities that use high-throughput sequencers because they are used for managing and archiving sequencing data. NGS techniques have seen extensive use in precision medicine for oncology, particularly in treating lung and breast cancers. Companies are currently focusing on developing inexpensive genome sequencing solutions to expand their market share. These kinds of factors are going to push the market even further.

Increased Utilization of Cloud-Based Platforms for Data Processing to Foster Market Growth

Cloud-based platforms are a good option for activities requiring significant computational power, such as NGS data processing. Consequently, acquiring the computing resources necessary to carry out large-scale NGS data analysis has been streamlined to the point where it is both quick and easy. Consequently, it is anticipated that the market will be driven by the expansion of cloud-based bioinformatics platforms and services for processing large amounts of NGS data. The utilization of these platforms significantly simplifies the data processing services for organizations.

Market Restraining Factors

High Cost Required for the Infrastructure to Hinder Market Growth

The costs associated with advancing infrastructure, including algorithms and applications, are anticipated to stifle demand growth somewhat. The market expansion is also hindered because collecting NGS data takes significant time. During the installation of the services, there will be an increase in costs due to the development of newer technologies and shorter delivery times. The market's growth will be hampered shortly by such a factor.

Key Market Opportunities

Rising Demand to Produce Genetic Data to Boost Market Opportunities

The growing demand for high genetic data production and the concurrent decrease in costs associated with sequencing will help the market to expand even further. Additionally, it is anticipated that the scale of sequencing ventures will increase. Consequently, there is an increased demand for sophisticated bioinformatics pipelines incorporating innovative and efficient solutions. On the other hand, commercial service providers could take advantage of lucrative opportunities to build and build newer technologies while shortening delivery times directly.

 

Segmental Analysis

The global genomic data analysis and interpretation market has been divided into product, application, and end-user.

By Product

Based on product, the services dominate the global genomic data analysis and interpretation market during the forecast period. This will be the case because these services are more in demand.

By Application

Based on the application, the tertiary workflow division lead the global genomic data analysis and interpretation market during the forecast period. As a result of the tertiary data processing done by NGS, various annotation methods are used, and organizations are taking steps to expand the scope of these tools through strategic planning.

By End-Users

Based on end-users, the academic institutes and research centers segment dominates the global genomic data analysis and interpretation market. It made significant improvements due to the implementation of next-generation sequencing data processing workflows in academic institutions. This is the primary factor behind the segment's growth.

 

Regional Analysis

The global genomic data analysis and interpretation market have been studied across North America, Europe, Asia-Pacific, and LAMEA. 

Genomic Data Analysis and Interpretation Market Regional Analysis

Regional Growth Insights Request Sample Pages

North America will lead the global genomic data analysis and interpretation market during the forecast period. It is projected that there will be a rise in the total number of research programs, a significant increase in the number of strategic partnerships, and an increase in the number of regulatory approvals granted by the FDA in the United States. It is anticipated that shifting regulations about reimbursement and utilization will further propel the adoption of genetic tests in this region.

Asia-Pacific will record significant growth in the genomic data analysis and Interpretation market during the forecast period. Because of the launch of several different research programs, it is observing an increase in the adoption of genomic technologies. In the future, the market's growth in this Region will be boosted by such factors.

 

Competitive Players

The key players in the global genomic data analysis and interpretation market include

  • 10x Genomics Inc.
  • Agilent Technologies Inc.
  • ASURAGEN INC.
  • Beijing Genomics Institute (BGI) Genomics Co. Ltd
  • Bio-Rad Laboratories Inc.
  • DNASTAR
  • Hoffmann-La Roche Ltd.
  • Golden Helix Inc.
  • Illumina Inc.
  • Oxford Nanopore Technologies Inc.
  • Pacific Biosciences of California Inc.
  • Partek Inc.
  • QIAGEN N.V.
  • SoftGenetics LLC
  • Thermo Fisher Scientific Inc

 

Recent Developments

  • Jun 2022, Agilent and Mahidol University Sign MOU for Science Industry Research and Development in Thailand
  • Jun 2022, Agilent Leverages NVIDIA and AWS Technology to Improve Analysis Speeds of Genomics Bioinformatics Pipelines

 

Global Genomic Data Analysis and Interpretation Market: Segmentation

By Application

  • Functional Genomics
  • Real-time PCR
  • Transfection
  • SNP Analysis
  • Mutational Analysis
  • Microarray Analysis
  • RNA Interference
  • Pathway Analysis
  • Bead-based Analysis
  • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
  • Biomarker Discovery
  • DNA Sequencing
  • Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
  • Methylated DNA Immunoprecipitation (MeDIP)
  • High-Resolution Melt (HRM)
  • Chromatin Accessibility Assays

By Product 

Products

  • Instruments/Systems/Software
  • Consumables & Reagents

Services

  • NGS-based Services
  • Core Genomics Services
  • Biomarker Translation Services
  • Computational Services

By End-User

  • Pharmaceutical and Biotechnology Companies
  • Hospitals and Clinics
  • Academic and Government Institutes

By Regions

  • North America
  • Europe
  • Asia Pacific
  • LAMEA
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