Bioinformatics Market

The global bioinformatics market size generated $8,614.29 million in 2019, and is projected to reach $24,731.61 million by 2027, growing at a CAGR of 13.4% from 2020 to 2027. Bioinformatics is a combination of biology and information technology, which links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, including biomedicine. It uses software tools for database creation, data management, data warehousing, data mining, and others. Mining such data leads to scientific discoveries, which is used in the study of genetics & genomes. Several bioinformatics tools are available in the market. They are categorized as protein functional & analysis tools, homology & similarity tools, sequence analysis tools, and miscellaneous tools. The field covers many advanced and specialized areas of life such as structural genomics, functional genomics, DNA microarrays, comparative genomics, and medical information. Hence, these aforementioned factors boost the global bioinformatics market share.

Some industries have struggled, owing to the COVID-19 pandemic, and some industries have positive impact and one of those is the bioinformatics industry. This industry was already a fast-growing industry even before the COVID-19 crisis hit. This is attributed to bioinformatics tools, which can handle large volumes of biological data. Its a term that was initially coined with the first sharing of biological sequence data and has now become a multi-disciplinary area, which is of acute relevance in the current time.

The global bioinformatics market is expected to register substantial growth in the near future, owing to rise in need for integrated data, rise in demand for nucleic acid & protein sequencing, owing to reduction in sequencing cost, and increase in applications of proteomics & genomics. In addition, drug discovery & development and initiatives from government & private organizations are expected to boost the market growth during the forecast period. However, lack of skilled personnel, common data formats, and lack of user-friendly tools at cheaper prices are projected to hamper the market growth during the forecast period. Conversely, increase in need for integrated solutions & systems, integration of machine learning & AI in healthcare and software companies investing in the development of bioinformatics solutions are expected to offer remunerative market opportunities to bioinformatics solution developers.

Technology & services segment review

On the basis of technology & services, the bioinformatics market is segmented into knowledge management tools, bioinformatics platforms, and bioinformatics services. The bioinformatics platforms segment was the major revenue contributor in 2019, and is anticipated to continue this trend during the forecast period, owing to increase in platform applications and need for better tools in drug development. Increase in platform application is attributed to surge in need from the life science firm for identification and modification of structures. This, in turn, would help in drug designing process and evaluation of their therapeutic effects. Furthermore, efficiency and safety in drug development and discovery leads to increase in need for better tools in drug development. Thus, is expected to propel the bioinformatics market size in the future.

Application segment review

Depending on application, the bioinformatics market is categorized into metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics & drug design, genomics, and others. The transcriptomics segment is projected to exhibit the highest growth during the forecast period, owing to increase in preference in companion diagnostics and personalized medicines. Moreover, novel gene sequencing, continuous discovery of biomarkers, and worldwide acceptance of transcriptomics technology are expected to drive the bioinformatics market growth.

Region segment review

Region wise, the bioinformatics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to surge in adoption of advanced technology and increase in demand for better bioinformatics tools, which are required in drug discovery and development process. The market in LAMEA is expected to grow at the highest CAGR during the forecast period, owing to advancements in the field of genomics and proteomics, generating massive volume of data, which is to be interpreted and managed. In addition, the bioinformatics sector is still in its infancy stage in the region where research activities are developing gradually. Thus, all these factors together contribute toward growth of the market.

The report provides a comprehensive analysis of the key players operating in the global bioinformatics industry, namely, Agilent Technologies, Inc., Biomax Informatics AG, DNAnexus, Inc., Genedata AG, Intrexon Bioinformatics Germany GmbH, Illumina Inc., Perkinelmer Inc., Qiagen N.V., Seven Bridges Genomics Inc., and Thermo Fisher Scientific, Inc. The other players in the value chain include Geneva Bioinformatics (Genebio), Dassault Systems, Eurofins Scientific, Bruker Daltonics Inc., Accelrys, Inc., Affymetrix, Inc., SA Nonlinear Dynamics, and Quest Diagnostics, Inc.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current bioinformatics market trends and bioinformatics market forecast estimations from 2020 to 2027, which assists to identify the prevailing market opportunities. 
• An in-depth bioinformatics market analysis includes study of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of the factors that drive and restrain the growth of the global bioinformatics market is provided.
• Region-wise and country-wise bioinformatics market conditions are comprehensively analyzed in this report.
• The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.
• Key market players within the bioinformatics market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global market.  

 Bioinformatics Market Report Highlights