Gene Prediction Tools Market is predicted to reach USD 0.68 billion at a CAGR of 18.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Gene Prediction Tools Market”.

The Gene Prediction Tools Market is estimated to register a CAGR of 18.20% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Gene Prediction Tools Market— AzoLifeScience, Softberry Technologies, DNASTAR, Qiagen NV, Illumina, Inc., BGI Genomics, Genscript, Exiqon, Geneious, Thermo Fisher Scientific, Inc.

Market Highlights

The global Gene Prediction Tools Market is accounted to register a CAGR of 18.20% during the forecast period and is estimated to reach USD 0.68 billion by 2032.

The market is experiencing growth propelled by a surge in demand for personalized medicines, advancements in genomic research, wider adoption of bioinformatics and genomic services, and expanding applications of genomics. 

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Segment Analysis

The global Gene Prediction Tools Market has been segmented based on the Component, Application, and End-user.

Based on Components, the market is segmented into Software and Service. The Software segment was attributed to holding the largest market share in 2023. Gene prediction software offers the ability to tailor parameters, algorithms, and configurations to suit specific needs, which is crucial given the diverse requirements of different organisms and research inquiries. Furthermore, this software ensures privacy and security for both data and analyses. Typically, gene prediction software operates on a one-time or periodic licensing fee basis, making it cost-effective, especially for academic institutions and research labs facing budgetary constraints.

Based on the Application, the Gene Prediction Tools Market has been segmented into Drug discovery & designing, Diagnostics, and other applications. The drug discovery & designing segment was expected to hold the largest market share in 2023. Gene prediction tools are instrumental in researchers and pharmaceutical companies elucidating the genetic foundations of these diseases. Through the identification of pertinent genes and pathways, these tools enable the discovery of potential drug targets, thereby facilitating the development of more efficacious therapeutics.

Based on the End-user, the Gene Prediction Tools Market has been segmented into Research & academic institutes, Biotechnology companies, Hospitals & clinics, and Diagnostic laboratories. The research & academic institutes segment was expected to hold the largest market share in 2023. Research centers and institutes, commonly affiliated with universities or governmental bodies, represent key users of gene prediction tools. These institutions focus extensively on research areas such as genomics, genetics, molecular biology, and bioinformatics. Gene prediction tools are pivotal in activities such as genome annotation, functional genomics studies, and unraveling the genetic underpinnings of diseases. The growing demand for personalized medicines and heightened investments in biotechnology and pharmaceutical enterprises have driven increased adoption of gene prediction tools within these industries.

Regional Analysis

The global Gene Prediction Tools Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Gene Prediction Tools Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Gene Prediction Tools Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Gene Prediction Tools Market comprises the Middle East, Africa, and Latin America.

The largest market share for the Gene Prediction Tools Market was maintained by the North American regional sector. Developed nations like the United States and Canada are home to numerous leading research institutions, universities, and biotechnology firms spearheading genomics research. The advancements in genomics have spurred the demand for precise and effective gene prediction tools. As of November 2022, a cumulative total of 129,624 genetic tests in the US and 197,779 tests globally, including updated versions of previously existing tests, have been listed and submitted to the genetic testing registry. Notably, over 90% of the tests submitted to GTR serve clinical rather than research purposes. Moreover, North America boasts a robust biotechnology sector with significant investments in drug discovery and biomanufacturing. The increasing number of biotechnology and pharmaceutical enterprises heavily reliant on gene prediction tools for drug development is anticipated to drive the growth of this sector.

Moreover, the Europe market has been persistently growing over the forecast period. Personalized medicine, which customizes medical treatments based on individual patient characteristics, is increasingly popular in Europe. In 2018, the French government unveiled a €670 million ($760.8 million) investment plan for a genomics and personalized medicine initiative aimed at enhancing disease diagnosis and prevention nationwide. Gene prediction tools are pivotal in identifying genetic variations that impact disease susceptibility, drug reactions, and treatment effectiveness.

In Asia Pacific, several factors have fueled this expansion, including heightened research and development endeavors in genomics, increased investments in the biotechnology and pharmaceutical sectors, and a growing recognition of the importance of personalized medicine. In the Union Budget 2023-24, the Department of Biotechnology (DBT) received an allocation of Rs. 1,345 crore (US$ 162.7 million) to foster research and development. India's bio-economy industry has seen remarkable growth, surging from US$ 10 billion in 2015 to US$ 80 billion by 2023, contributing 2.6% to India's GDP as of 2021. It is projected that India's economy will reach US$ 300 billion by 2030. Various countries have played pivotal roles in this market expansion, thanks to substantial investments in life sciences research. These nations boast vibrant biotechnology industries and academic institutions that conduct extensive genomic research.

Furthermore, the rest of the world's Gene Prediction Tools Market is divided into the Middle East, Africa, and Latin America. As awareness of the advantages of precision medicine rises in the region, there is increasing interest in tailoring medical treatments to individual patient characteristics. Gene prediction tools play a vital role in pinpointing genetic markers that impact how individuals respond to certain medications, thereby enabling the customization of therapies. Consequently, the growing recognition of precision medicine's benefits is driving up the demand for gene prediction tools in the region.

Key Findings of the Study

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  The global Gene Prediction Tools Market is expected to reach USD 0.68 billion by 2032, at a CAGR of 18.20% during the forecast period.

  
  


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  The Asia-Pacific region accounted for the fastest-growing global market due to growing government support to accelerate the biotechnology sector for better treatment of diseases within the region.

  
  


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  Based on Component, the Software segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.

  
  


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  AzoLifeScience, Softberry Technologies, DNASTAR, Qiagen NV, Illumina, Inc., BGI Genomics, Genscript, Exiqon, Geneious, and Thermo Fisher Scientific, Inc. are the key market players.