Personalized Medicine Bioinformatics Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.19 Billion |
| Market Size (2029) | USD 5.14 Billion |
| CAGR (2024 - 2029) | 10.01 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Personalized Medicine Bioinformatics Market Analysis
The Personalized Medicine Bioinformatics Market size is estimated at USD 3.19 billion in 2024, and is expected to reach USD 5.14 billion by 2029, at a CAGR of 10.01% during the forecast period (2024-2029).
Key drivers of market growth include the rising adoption of precision medicine, the expanding role of big data analytics, and technological advancements in bioinformatics.
The field of personalized medicine, tailors treatments to individual genetic profiles, has recently made significant strides. This evolution is primarily attributed to genomics, bioinformatics, and associated technologies breakthroughs. For instance, an article published by Proscia in September 2024 highlights that integrating diverse real-world data, such as pathology images and genomic profiles, enriches precision medicine's understanding of disease mechanisms. By leveraging this holistic data, AI-driven models are refining patient selection and treatment approaches, thus hastening research and development. Such progress in personalized medicine bioinformatics is paving the way for more focused and efficient drug discovery. The market for customized medicine bioinformatics is pivotal, employing computational tools to analyze and interpret biological data tailored to individual patients.
Furthermore, technological innovations, bolstered by government support and funding, are seamlessly weaving precision medicine into healthcare frameworks. These strategic investments fuel research and implement precision medicine strategies for conditions ranging from cardiovascular diseases to rare genetic disorders, propelling market growth.
For instance, in April 2023, Fujitsu Limited teamed up with the Barcelona Supercomputing Center – Centro Nacional de Supercomputación, forging a dual agreement to push the boundaries of personalized medicine and quantum computing. Their joint research aims to harness clinical data for precision medicine and elevate quantum simulation technologies. This collaboration places both entities at the cutting edge of precision medicine innovation, enhancing healthcare solutions and technological progress.
Additionally, rising funding initiatives are poised to boost the market further. In April 2022, the Canadian government unveiled the "All for One" precision health partnership, aiming to elevate healthcare standards for Canadians. This initiative broadens access to genome-wide sequencing, crucial for diagnosing and treating severe genetic disorders. With a total investment of USD 39 million, the funding comprises USD 13 million from the federal government via Genome Canada and an impressive USD 26 million co-funding from industry players, healthcare entities, and provincial partners, facilitated through six regional Genome Centres. Such governmental backing is anticipated to spur innovations in precision medicine bioinformatics throughout the forecast period.
Similarly, in May 2024, Amplitude Ventures, a capital firm at the intersection of biology and AI in precision medicine, announced the successful closure of its second fund at CAD 263 million (USD 192 million). This new fund eclipses the size of Amplitude's inaugural fund, reinforcing the firm's commitment to championing entrepreneurs and innovators in the precision medicine realm, with an eye on achieving impactful health outcomes.
In conclusion, the global surge in the adoption of precision medicine, coupled with advancements in bioinformatics and robust technological backing (including AI and funding), is driving the growth of the personalized medicine bioinformatics market. Yet, challenges like the steep costs associated with bioinformatics infrastructure and software development could temper this growth in the coming years.
Personalized Medicine Bioinformatics Market Trends
Gene Sequencing Segment is Expected to Witness a Significant Growth Over the Forecast Period
Technological advancements, the rising prevalence of genetic disorders and cancer, integration with precision medicine, financial investments, clinical applications, and an expanding role in research and development within the biotechnology and pharmaceutical sectors are driving the growth of the gene sequencing segment in the precision medicine bioinformatics market.
Increased research and development activities in genomics are set to boost the market. For instance, in August 2022, Mount Sinai Health System and the Icahn School of Medicine at Mount Sinai, in collaboration with Regeneron Genetics Center (RGC), launched the Mount Sinai Million Health Discoveries Program, a human genome sequencing research project in the United States. This emphasis on large-scale genome sequencing research enhances the ability to analyze complex genetic data, propelling advancements in personalized medicine bioinformatics and leading to more accurate healthcare solutions.
Furthermore, a surge in partnerships among major players is anticipated to bolster segment growth. For instance, in January 2023, QIAGEN, based in the United States, formed an exclusive strategic partnership with Helix, a leader in population genomics from California. This collaboration aims to advance companion diagnostics for hereditary diseases. As per the agreement, QIAGEN becomes the exclusive marketing and contracting partner for Helix's companion diagnostic services in the United States. The partnership capitalizes on the Helix Laboratory Platform, which received the first-ever FDA de novo class II authorization for a whole exome sequencing platform. Such strategic collaborations among industry leaders foster innovation and resource sharing, propelling the development of advanced companion diagnostics and boosting the gene sequencing segment's growth.
Additionally, a growing emphasis on diverse genomic profiling services by companies is poised to stimulate market growth. For instance, in October 2022, BioAro, a genomics and precision health firm from Calgary, Canada, introduced extensive genetic (whole exome, whole genome) and microbiome testing services. These services aid in sequencing the entire genome and analyzing over 20,000 genes linked to various diseases.
Similarly, in September 2024, Integrated DNA Technologies, in the United States, broadened its Archer portfolio of gene sequencing solutions by adding a homologous recombination deficiency (HRD) assessment module. This enhancement boosts the precision medicine capabilities of Archer's next-generation sequencing (NGS) panels, providing a customizable solution for thorough genomic profiling. The growing availability of advanced genomic profiling services and innovative sequencing solutions is refining the precision and depth of genetic analyses, fueling growth in the gene sequencing segment.
In conclusion, the interplay of technological advancements, heightened research and development activities, strategic partnerships, and the rollout of comprehensive genomic profiling services is amplifying the capabilities and growth trajectory of the gene sequencing segment.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America has solidified its position as a significant share in biomedical research and technological innovation, establishing itself as a crucial region for the advancement and implementation of personalized medicine bioinformatics solutions. The region benefits from a robust research infrastructure, a substantial talent pool of skilled scientists and engineers, and significant investments in healthcare technology.
The increasing development, implementation, and product launches of personalized medicine bioinformatics solutions are anticipated to drive the growth of the personalized medicine bioinformatics market in the region. For instance, in April 2023, Certis Oncology Solutions introduced CertisAI, an innovative predictive medicine platform that integrates functional assays with artificial intelligence to enhance personalized medicine. This new platform leverages big data, statistical algorithms, and machine learning to forecast drug efficacy based on gene expression biomarkers.
Similarly, in November 2022, Amazon Web Services launched Amazon Omics, a cloud-based platform designed for precision medicine that offers the necessary security, scalability, and processing power for genomic data storage and analysis. This innovative service leverages artificial intelligence and machine learning to streamline bioinformatics workflows, enhancing clinical insights at the point of care and aiding in the identification of optimal treatment and prevention options for patients.
Furthermore, the growing focus of companies on adopting key strategies such as collaborations, acquisitions, and new launches is also expected to boost the growth of the market. For instance, in September 2023, Mission Bio launched the Tapestri Genome Editing Solution, designed to enhance high-resolution analysis of genome editing, addressing critical needs in advanced therapy development and functional genomics. This innovative solution garnered significant interest from key opinion leaders across the pharmaceutical, academic, and government sectors, following its initial preview at The American Society of Gene and Cell Therapy annual conference. The increasing emphasis on strategic initiatives such as collaborations and innovative solutions in the realm of genome analysis is enhancing the development of advanced therapies and functional genomics, thereby driving growth in the personalized medicine bioinformatics market.
Therefore, the confluence of substantial investments in research infrastructure, innovative product launches, and strategic collaborations among companies is significantly advancing the development of personalized medicine bioinformatics solutions in North America, driving substantial market growth.
Personalized Medicine Bioinformatics Industry Overview
The precision medicine bioinformatics market is consolidated due to a few large companies dominating most of the market share, including Syapse Holdings, Inc., C4X Discovery Holdings Limited, DNAnexus, Inc., Concert Genetics, Inc., and, Genomate Health Inc., among others.
Personalized Medicine Bioinformatics Market Leaders
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Syapse Holdings, Inc.
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C4X Discovery Holdings Limited
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DNAnexus, Inc.
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Concert Genetics, Inc.
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Genomate Health Inc.
*Disclaimer: Major Players sorted in no particular order
Personalized Medicine Bioinformatics Market News
- July 2024: Insilico launched the PandaOmics Box, an AI-powered hardware platform specifically designed for on-premise drug discovery and personalized medicine research. This innovative solution integrates Insilico's proprietary generative biology AI software, PandaOmics, with a comprehensive scientific database and state-of-the-art computational hardware, featuring advanced chip-level confidential computing capabilities.
- March 2024: Nucleus Genomics introduced a new DNA analysis service aimed at providing deeper insights into genetic health risks, enabling individuals to better understand their predisposition to diseases such as type 2 diabetes and breast cancer. By incorporating personal and lifestyle factors, this offering advances the field of personalized medicine bioinformatics, enhancing the accuracy and relevance of health risk assessments.
Personalized Medicine Bioinformatics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Precision Medicine
4.2.2 Growing Availability of Big Data Analytics and Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Bioinformatics Infrastructure and Software Development
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (in USD)
5.1 By Technology
5.1.1 Gene Sequencing
5.1.2 Pharmacogenomics
5.1.3 Microarray Technology
5.1.4 Other Technology
5.2 By Applications
5.2.1 Genomics
5.2.2 Proteomics
5.2.3 Transcriptomics
5.2.4 Other Application
5.3 End- User
5.3.1 Biotechnology and Pharmaceutical Companies
5.3.2 Hospitals
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Assurance Health Data
6.1.2 Aster Insights
6.1.3 C4X Discovery Holdings Limited
6.1.4 Concert Genetics, Inc.
6.1.5 DNAnexus, Inc.
6.1.6 Flatiron Health
6.1.7 Genomate Health Inc.
6.1.8 Nucleai, Inc.
6.1.9 Protica Bio
6.1.10 Syapse Holdings, Inc.
6.1.11 Verily Life Sciences LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Personalized Medicine Bioinformatics Industry Segmentation
As per the scope of the report, the personalized medicine bioinformatics market involves the development and use of advanced computational tools to analyze and interpret biological data specific to individuals, facilitating customized medical treatments based on each patient’s genetic profile.
The precision medicine bioinformatics market is segmented by technology, application, end-user, and geography. The technology segment is divided into gene sequencing, pharmacogenomics, microarray technology, and other technologies. Other technologies include nanotechnology and CRISPR, among others. The application segment is further segmented into genomics, proteomics, transcriptomics, and other applications. Other applications include metabolomics and epigenomics, among others. The end user segment is further divided into biotechnology and pharmaceutical companies, hospitals, and other end users. Other end users include research institutions and diagnostic laboratories, among others. The geography segment is further divided into North America, Europe, Asia-Pacific, and Rest of the World. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD) for the above segments.
| By Technology | |
| Gene Sequencing | |
| Pharmacogenomics | |
| Microarray Technology | |
| Other Technology |
| By Applications | |
| Genomics | |
| Proteomics | |
| Transcriptomics | |
| Other Application |
| End- User | |
| Biotechnology and Pharmaceutical Companies | |
| Hospitals | |
| Other End Users |
| Geography | ||||||||
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| Rest of the World |
Personalized Medicine Bioinformatics Market Research FAQs
How big is the Personalized Medicine Bioinformatics Market?
The Personalized Medicine Bioinformatics Market size is expected to reach USD 3.19 billion in 2024 and grow at a CAGR of 10.01% to reach USD 5.14 billion by 2029.
What is the current Personalized Medicine Bioinformatics Market size?
In 2024, the Personalized Medicine Bioinformatics Market size is expected to reach USD 3.19 billion.
Who are the key players in Personalized Medicine Bioinformatics Market?
Syapse Holdings, Inc., C4X Discovery Holdings Limited, DNAnexus, Inc., Concert Genetics, Inc. and Genomate Health Inc. are the major companies operating in the Personalized Medicine Bioinformatics Market.
Which is the fastest growing region in Personalized Medicine Bioinformatics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Personalized Medicine Bioinformatics Market?
In 2024, the North America accounts for the largest market share in Personalized Medicine Bioinformatics Market.
What years does this Personalized Medicine Bioinformatics Market cover, and what was the market size in 2023?
In 2023, the Personalized Medicine Bioinformatics Market size was estimated at USD 2.87 billion. The report covers the Personalized Medicine Bioinformatics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Personalized Medicine Bioinformatics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Personalized Medicine Bioinformatics Industry Report
Statistics for the 2024 Personalized Medicine Bioinformatics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Personalized Medicine Bioinformatics analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
