The Global Bioinformatics Market Size Accounted for USD 12,312 Million in 2021 and is predicted to be worth USD 46,129 Million by 2030, with a CAGR of 16.2% during the forthcoming period from 2022 to 2030.
Rising demand for protein sequencing and nucleic acid, increasing efforts from government and private organizations, spurring the growth of genomics and proteomics, and increasing research on molecular genetics and drug development are all growth factors for the bioinformatics market size. Growing investments in the biological sciences, as well as information technology divisions, are also another factor driving the growth of the global bioinformatics market shares. Due to the factors mentioned above, the global bioinformatics market size is predicted to expand rapidly during the projected timeframe.
Bioinformatics is described as conceptualize biology in terms of molecules and then the application of information technology to put in order and understand the data which is related to these molecules on large scale basis. Bioinformatics refers to gathering data with the help of computer, analyzing it, and integrating and storing the molecular data in addition to biological data, which is then used in applications such as drug discovery and development. The technology and services are the two most important classifications of the bioinformatics market trend. The technology segment is further classified into knowledge management tools and bioinformatics platform. The bioinformatics platform is further divided into content/knowledge management tools. This segment is anticipated to be the highest revenue generating division followed by the services division.
Global Bioinformatics Market DRO’s
Bioinformatics Market Report Coverage:
|Bioinformatics Market Size 2021||USD 12,312 Million|
|Bioinformatics Market Forecast 2030||USD 46,129 Million|
|Bioinformatics Market CAGR During 2022 - 2030||16.2%|
|Bioinformatics Market Analysis Period||2018 - 2030|
|Bioinformatics Market Base Year||2021|
|Bioinformatics Market Forecast Data||2022 - 2030|
|Segments Covered||By Technology & Services, By Application, By Sector, And By Region
|Bioinformatics Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Illumina, Inc., Agilent Technologies, Thermo Fisher Scientific Inc., QIAGEN N. V., Eurofins Scientific, NeoGenomics Laboratories, Fios Genomics, Waters Corporation, Perkin Elmer Inc., and Source BioScience.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
The global bioinformatics market growth is a budding field, used in different aspects of biology. Bioinformatics is the grouping of information technology, molecular biology, statistics, and algorithms to examine the data obtained from a variety of experiments. The report studies the foremost sector markets into agriculture, medical bioinformatics, animal, academics and others. The application section includes the metabolomics, proteomics, chemo-informatics, genomics, transcriptomics and molecular phylogenetic.
Some of the major factors which help in growing demand for bioinformatics market value are increasing applications of bioinformatics in drug discovery and development and rising bioinformatics support in the expansion of modified medicines and clinical diagnostics. There are several trends and challenges faced by bioinformatics market growth which are government compliance, industry turmoil, lack of multiplatform and interoperability, focused shift, difficulties faced in integrating applications, growing competition from in-house development, management of data and many others. However, recently there has been increased focus on proteomics from genomics owing to the rising interest of researchers in this field. This is mainly due to discovery of numerous targets in therapeutics and biomarkers for a number of diseases. With the rising demand from pharmaceutical companies, proteomics tools are also undergoing an increase in demand.
Bioinformatics Market Segmentation
The global bioinformatics market segmentation is based on the technology & services, application, sector, and geographical region.
Market by Technology & Services
In terms of technology and services, the bioinformatics services segment is expected to hold the largest market share in 2021. Factors such as the increasing investments in research and development as well as a rise in the demand for innovative bioactive molecules are encouraging the expansion of the bioinformatics services segment. Moreover, technological developments are driving an increase in global demand for bioinformatics services.
Market by Application
According to a bioinformatics industry analysis, the genomics segment is expected to grow significantly in the market over the next few years. The acceptance of new and cutting-edge technologies is increasing the requirement for bioinformatics in genomics. Furthermore, the continued growth of pharmacogenomics in developing drugs and sequence screening, as well as technological developments aimed at handling multiple amounts of genomic data, contribute to a significant portion of this significant chunk.
Market by Sector
According to a bioinformatics market forecast, the academics segment will grow rapidly in the market over the next few years. This growth is attributed to factors such as a rise in the number of bioinformatics-based scientific studies, and an increase in the spectrum of genetic studies. Moreover, a rise in the cooperation and collaboration between academic research organizations and bioinformatics market participants, and a spike in the proportion of government funding programs for genetic studies, will drive the academic segment of the global bioinformatics market shares throughout the forecast period.
Bioinformatics Market Regional Outlook
The Middle East & Africa (MEA)
Bioinformatics Market Players
Some of the prominent global bioinformatics market companies are Illumina, Inc., Agilent Technologies, Thermo Fisher Scientific Inc., QIAGEN N. V., Eurofins Scientific, NeoGenomics Laboratories, Fios Genomics, Waters Corporation, Perkin Elmer Inc., and Source BioScience. The merger and acquisition of several companies has given rise to conglomeration, which helps companies to improve their product offerings and obtain large market share.
The global bioinformatics market size in 2021 was accounted to be USD 12,312 Million.
The projected CAGR of bioinformatics during the analysis period of 2022 to 2030 is 16.2%
The prominent players of the global bioinformatics market involve Illumina, Inc., Agilent Technologies, Thermo Fisher Scientific Inc., QIAGEN N. V., Eurofins Scientific, NeoGenomics Laboratories, Fios Genomics, Waters Corporation, Perkin Elmer Inc., and Source BioScience.
North America held the dominating share for bioinformatics during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for bioinformatics during the analysis period of 2022 to 2030.
Growing demands for nucleic acid and protein sequencing, rising bioinformatics applications, and various initiatives from private and government organizations are the prominent factors that fuel the growth of global bioinformatics market.
Based on technology & services, bioinformatics services segment hold the maximum share for bioinformatics market in 2021.