Genomic Data Analysis & Interpretation enables researchers to adopt statistical & computational methods to decode the information hidden in DNA sequences. These tools allow clinical experts to understand how DNA differences can affect human health & diseases.
The Global Genomic Data Analysis & Interpretation Market is likely to grow at a CAGR of around 11.10% during the forecast period, i.e., 2022-27, says MarkNtel Advisors. The market growth attributes principally to the burgeoning cancer cases worldwide, encouraging numerous biotechnology companies to develop genomic software solutions for data analysis to help clinicians provide precision oncology treatments.
Moreover, the surging applications of Next-Generation Sequencing (NGS) in cancer research, declining costs of sequencing, and the mounting number of genomic research initiatives by both emerging & developed countries are other prominent factors expected to drive the market over the forecast years, further states the research report, "Global Genomic Data Analysis & Interpretation Market Analysis, 2022."
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR | 11.10% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Spain, The Netherlands | |
| Asia-Pacific: China, India, Japan, South Korea, Australia and Others | |
| South America: Brazil, and Others | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Agilent Technologies Inc., ThermoFisher Scientific, Asuragen Inc., BGI Genomics Co., Ltd, 10X Genomics Inc., Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd, DNASTAR, Golden Helix Inc., Illumina Inc., Oxford Nanopore Technologies Inc., Pacific Biosciences of California Inc., Partek Inc., QIAGEN NV, SoftGenetics LLC |
| Unit Denominations | USD Million/Billion |
Impact of Covid-19 on the Global Genomic Data Analysis & Interpretation Market
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Market Segmentation:
Based on Application, the Global Genomic Data Analysis & Interpretation Market segments into:
Of both, the market growth is likely to be the fastest in terms of Clinical applications. The rapidly increasing cancer cases & clinical developments are significantly surging the need for next-generation diagnostic tests worldwide. Since these tests facilitate early diagnosis & enable efficient prognosis of various forms of cancer, the demand for genomic data analysis & interpretation tools is likely to witness the fastest growth for Oncology in the coming years.
Demand for Next-Generation Sequencing (NGS) to Observe the Fastest Growth through 2027
The accelerating adoption of sequencing platforms for clinical diagnosis due to a significant decline in their installation costs and the easy access & availability of genomic & proteomic data are the prime factors expected to create the fastest growing demand for Next-Generation Sequencing (NGS) during 2022-27.
Furthermore, the growing use of bisulfite-methylation for targeted sequencing & targeted methylation NGS data analysis methods is also projected to propel the adoption of NGS and drive the market in the coming years, states MarkNtel Advisors in their research report, “Global Genomic Data Analysis & Interpretation Market Analysis, 2022.”
Regional Landscape
Based on the Geography, the Global Genomic Data Analysis & Interpretation Market expands across:
Here, North America is expected to dominate the market with the largest share through 2027. It owes to the various initiatives by government agencies & prominent market players toward conducting research & development on genomics & bioinformatics. Besides, the increasing cases of cancer, growing awareness about precision medication, and reducing costs of sequencing are other crucial aspects boosting the market across North America.
Moreover, one of the most prominent market players in the US, like ThermoFisher Scientific, is expected to continue its dominance in the region during 2022-27 due to its substantial funding toward providing medical experts with reliable genomic software for data analysis required in precision oncology treatments.
On the other hand, Asia-Pacific is expected to witness the fastest market growth in the coming years, principally due to the rapidly increasing adoption of sequencing, coupled with rapid advancements in molecular biology leading to several genome sequencing initiatives & programs across the region.
Moreover, the active participation of leading players like Illumina Inc. is further contributing to the market expansion. The leader introduced its cloud-based BaseSpace Sequence Hub in China, facilitating storage management & interpretation of genomics data. Such initiatives are likely to accelerate the regional market growth over the forecast years.
Market Dynamics:
Key Drivers
Possible Restraints
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Genomic Data Analysis & Interpretation Market is likely to grow at a CAGR of around 11.10% during the forecast period, i.e., 2022-27.
A. Oncology is anticipated to emerge as an opportunity area for leaders and drive the market in the forecast period.
A. Declining costs of sequencing and the rapidly increasing cancer cases worldwide are the prime aspects anticipated to drive the Global Genomic Data Analysis & Interpretation Market during 2022-27.
