DUBLIN–(BUSINESS WIRE)–Feb 8, 2021–
The "Global Genomic Data Analysis and Interpretation Market: Focus on Products, Genomic Platforms, Applications, End Users, Country Data (15 Countries), and Competitive Landscape – Analysis and Forecast, 2020-2030" report has been added to ResearchAndMarkets.com’s offering.
Healthcare experts at BIS have found genomic data analysis and interpretation industry to be one of the most rapidly evolving and dynamic markets and the global market for Genomic data analysis and interpretation is predicted to grow at a CAGR of 10.21% over the forecast period of 2020-2030.
The market is driven by certain factors, which include decreasing cost of sequencing, global increase in cancer prevalence, and increasing number of population genomics initiative, among others, are fueling the growth of the global genomic data analysis and interpretation market.
The market is favored by the developments in the field of genomics and bioinformatics. Currently, the genomic data analysis and interpretation industry is witnessing an upsurge due to the growing number of genomic research initiatives being undertaken by the developing and developed countries coupled with the decreasing cost of sequencing, resulting in the high demand for software solutions for genomic data analysis. Additionally, high adoption of sequencing instruments by the researchers and clinicians, coupled with the growing prevalence of complex diseases, such as cancer, are some of the critical factors expected to bolster the market growth.
Furthermore, biotechnology companies are focusing on the development of robust genomic data analysis software solutions for a wide range of clinical applications to support clinicians in conducting an in-depth analysis.
Within the research report, the market is segmented on the basis of product, genomic platform, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
Competitive Landscape
The exponential rise in the number of cases associated with cancer has created a buzz among the biotechnology companies to further invest in the development of reliable genomic software solutions for data analysis, further aiding clinicians to offer precision oncology treatments. Due to the presence of a diverse product portfolio and intense market penetration, Thermo Fisher Scientific Inc. has been a pioneer in this field and has been a significant competitor in this market.
On the basis of region, North America holds the largest share of the genomic data analysis and interpretation market due to high infusion of funding from the government organizations for conducting research on genomics and bioinformatics, rising prevalence of cancer, growing awareness about precision medicine, and decreasing cost of sequencing, among others. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period, 2020-2030.
Key Questions Answered in this Report:
- How is genomic data analysis and interpretation revolutionizing the field of research and diagnostics?
- What are the major market drivers, challenges, and opportunities in the global genomic data analysis and interpretation market?
- What are the underlying structures resulting in the emerging trends within the global genomic data analysis and interpretation market?
- How the COVID-19 pandemic impacted the genomic data analysis and interpretation landscape?
- What are the key development strategies which are being implemented by the major players in order to sustain in the competitive market?
- What are the key regulatory implications in developed and developing regions pertaining to genomics?
- What are the potential entry barriers expected to be faced by the companies willing to enter in a particular region?
- How is each segment of the market expected to grow during the forecast period from 2020 to 2030, and what is the anticipated revenue to be generated by each of the segments?
- Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
- What are the growth opportunities for the companies in the region of their operation?
- Who are the leading players with significant offerings to the global genomic data analysis and interpretation market? What is the expected market dominance for each of these leading players?
Market Dynamics
Drivers
- Decreasing Cost of Sequencing
- Global Increase in Cancer Prevalence
- Increasing Number of Population Genomics Initiative
Challenges
- Lack of High Complexity Genomic Testing Centers in High Potential Markets
- Challenges Pertaining to Genomic Data Storage
- Scarcity of Knowledge Dissemination Pertaining to Advanced Diagnostic Capabilities
Opportunities
- Massive Scope for the Adoption of Genomic Data Analysis Software in the Emerging Nations
- Novel Diagnostic Applications
Companies Mentioned
- 10x Genomics, Inc.
- Agilent Technologies, Inc.
- ASURAGEN, INC.
- Beijing Genomics Institute (BGI) Genomics Co., Ltd
- Bio-Rad Laboratories, Inc.
- DNASTAR
- F. 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.
For more information about this report visit https://www.researchandmarkets.com/r/urmtno and the latest trends.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005415/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: HEALTH TECHNOLOGY OTHER SCIENCE SOFTWARE SCIENCE BIOTECHNOLOGY
SOURCE: Research and Markets
Copyright Business Wire 2021.
PUB: 02/08/2021 07:27 AM/DISC: 02/08/2021 07:27 AM
http://www.businesswire.com/news/home/20210208005415/en
