Global Genomic Data Analysis and Interpretation Market Report 2024

The genomic data analysis and interpretation market size has grown rapidly in recent years. It will grow from $1.14 billion in 2023 to $1.29 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth observed in the historic period can be attributed to several factors, including the increasing availability of direct-to-consumer genetic testing services, rising public interest in genomics, the rapid advancement of next-generation sequencing (NGS) technologies, greater integration of genomics into oncology practice, and an uptick in FDA approvals for genomic-based diagnostics and therapeutics.

The genomic data analysis and interpretation market size is expected to see rapid growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. the anticipated growth in the forecast period can be attributed to the growing demand for personalized medicine, increased investment in research and development activities, higher adoption rates of high-throughput sequencing technologies, rising awareness and initiatives surrounding genetic testing, and the expanding applications of genomics in agriculture. Key trends expected in the forecast period include the integration of multi-omics data, advancements in AI and machine learning, the expansion of epigenomic analysis, a shift towards cloud-based genomic data analysis platforms, and growth in pharmacogenomics.

The rise in cancer cases is expected to drive the growth of the genomic data analysis and interpretation market in the foreseeable future. Cancer, characterized by the uncontrolled growth and spread of abnormal cells in the body, is increasingly prevalent due to factors such as an aging population, lifestyle changes such as smoking and poor diet, environmental pollution, and improved detection methods leading to earlier diagnosis. Genomic data analysis and interpretation in cancer play a crucial role in identifying genetic mutations, biomarkers, and personalized treatment strategies, ultimately improving patient outcomes. For instance, in 2021, the American Cancer Society reported 1.9 million new cancer cases and 608,570 cancer deaths in the United States, marking an increase from 1.8 million new cases and 606,520 deaths in 2020. Consequently, the rising number of cancer cases is fueling the expansion of the genomic data analysis and interpretation market.

Leading companies in the genomic data analysis and interpretation market are prioritizing the development of innovative services, such as advanced long-read sequencing services, to stay competitive. These services utilize cutting-edge technologies to analyze genetic material with longer sequence reads, enabling more comprehensive and accurate characterization of DNA and RNA. For example, in April 2024, Clinical-Microbiomics A/S introduced Advanced Long-Read 16S, ITS, 18S, Isolate, and metagenomics sequencing services. These services cater to the needs of academic, clinical, and industrial researchers, offering higher-resolution insights into microbial communities by generating longer reads. This capability aids in distinguishing closely related organisms and linking specific functions to these organisms, while also supporting the construction of high-quality metagenome-assembled genomes for a more precise understanding of the microbial ecosystem.

In October 2021, Bionano Genomics Inc., a US-based company offering genome analysis software, acquired BioDiscovery Inc. for $100 million. The acquisition bolsters Bionano's genomic analysis capabilities, accelerates the adoption of optical genome mapping (OGM) technology, and enables a more comprehensive genome analysis. BioDiscovery Inc. is a US-based software company that provides genomic data analysis and interpretation solutions.

Major companies operating in the genomic data analysis and interpretation market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Beijing Genomics Institute (BGI) Genomics Co. Ltd, Guardant Health Inc., 10x Genomics Inc., Oxford Nanopore Technologies Inc., Pacific Biosciences of California Inc., SOPHiA GENETICS Inc., DNAnexus Inc., Seven Bridges Genomics Inc., ASURAGEN INC., Fabric Genomics Inc., DNASTAR Inc., Genoox, Golden Helix Inc., Partek Inc., SoftGenetics LLC, Cantada Bio, Geneyx Genomex Ltd., Freenome Holdings Inc, BlueBee Inc.

North America was the largest region in the genomic data analysis and interpretation market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomic data analysis and interpretation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the genomic data analysis and interpretation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Genomic data analysis and interpretation involve computationally processing and comprehending vast genetic information obtained from DNA sequencing. This encompasses tasks such as quality control, alignment, variant calling, annotation, and statistical analysis to detect genetic variations, mutations, or patterns within an individual's genome or a population's genetic data. This field is pivotal in personalized medicine, genetic research, and clinical diagnostics, aiding in understanding the genetic underpinnings of diseases, identifying potential therapeutic targets, and informing patient treatment decisions.

The primary products in genomic data analysis and interpretation are software and services. Software includes instructions, data, or programs used for computer operation and executing specific tasks. These are applied in various applications, such as functional genomics, real-time polymerase chain reaction (PCR), transfection, single nucleotide polymorphism (SNP) analysis, mutational analysis, microarray analysis, RNA interference, and pathway analysis. These tools cater to a range of end users, including research and academic institutions, biotechnology and biopharmaceutical companies, hospitals and diagnostic laboratories, contract research organizations, forensic laboratories, and others.

The genomic data analysis and interpretation market research report is one of a series of new reports that provides genomic data analysis and interpretation market statistics, including genomic data analysis and interpretation industry global market size, regional shares, competitors with a genomic data analysis and interpretation market share, detailed genomic data analysis and interpretation market segments, market trends and opportunities, and any further data you may need to thrive in the genomic data analysis and interpretation industry. This genomic data analysis and interpretation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The genomic data analysis and interpretation market includes revenues earned by entities by providing services such as identifying genetic variations, genome assembly and alignment, transcriptome analysis, and data visualization and interpretation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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