As per our research analysis report, the global bioinformatics market size is forecasted to worth USD 31.99 billion by 2027 and USD 13.24 billion in 2022, growing at a CAGR of 19.29%, during the forecast period.
Bioinformatics is a combination of computer sciences, molecular biology, biotechnology, and statistics. It is a field of collecting, classification, storage, and analyzing biological and biochemical information by using computer-based software tools. Genomics and proteomics are activities in that bioinformatics are used on a large scale. The field recently includes artificial intelligence and computer sciences for the development in the microbiology and genetic codes section. Additionally, several companies expand their innovation in gene expression, gene sequencing, and new drug discovery studies.
MARKET DRIVERS:
Growing support and initiatives from the various governments and implementing new technologies are majorly propelling the growth of the global bioinformatics market.
The global bioinformatics market is expected to have significant growth by rising government initiatives and funding genomics-based R & D, increasing technology use in drug discovery and biomarker development. The gradual reduction of DNA sequencing costs is also an essential driver of the industry's expected progress is the primary driver in the global bioinformatics market.
The rise in demand for integrated data and the cost of sequencing decreases is creating growth opportunities for the market. Besides, the need for nucleic acid and protein sequencing will continue to increase, and increasing proteomics & genomics applications are impacting the growth of the market towards positive. The global bioinformatics market is expected to grow significantly shortly. Government and private sector investments in the development of innovative products are expected to drive market growth during the forecast period.
The data storage and analysis application that can store large amounts of genomic and proteomic information and facilitate research activities from aging & carcinogenesis to the prevention and treatment of genetic diseases are anticipated to present growth opportunities for the market. Significant contributions to the development of the industry during the forecast period are also expected in the global bioinformatics market.
MARKET RESTRAINTS:
The lack of skilled staff, standard data formats, lack of easy-to-use tools available at bargain prices, and inabilities to use the platform to integrate large datasets generated by bioinformatics are expected to hinder the growth of the bioinformatics market growth.
Impact of COVID 19 on the global bioinformatics market:
The SARS-CoV-2 is the primary agent responsible for causing the coronavirus (COVID 19). The COVID 19 pandemic crisis has been declared an emergency health issue by the WHO. The COVID 19 has positively influenced the bioinformatics market. The bioinformatics sector is spreading globally. Bioinformatics plays an essential role by expecting suitable drugs against viral targets and is now being tested in the labs for validation. Developing potent drugs against the COVID 19 Bioinformatics helps by predicting possible molecules as inhibitors for the virus. Bioinformatics came out as an effective tool to examine viral data. It provided important information regarding the virus's genetic makeup and helped improve drugs or vaccines against the deadly disease.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2021 to 2027 |
|
Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Segments Covered |
By Sector, Products & Services, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global bioinformatics market has been segmented and sub-segmented based on the sector, products & services, application, and region.
Bioinformatics Market - By Sector:
Based on the sector, the medical biotechnology segment is expected to account for the leading share in the global market during the forecast period due to the growing need to develop new drugs at low prices and the use of bioinformatics in pharmaceutical companies to develop drugs. Bioinformatics has the two most traditional applications in the target drug discovery and validation process. The academic sector is also anticipated to grow at a healthy rate in the market during the forecast period due to developing institutes research and projects.
Bioinformatics Market - By Products and Services:
Based on products & services, the knowledge management tools segment is estimated to register the largest share in the global market, and bioinformatics platforms are the fastest-growing sub-segment based on products & services.
The data analytics is estimated to showcase a robust CAGR from 2021 to 2026 due to the demand for high performing sequencing data solutions. Genetic sequencing is expected to have the fastest growth in the coming years due to rising awareness about genome and exome technologies because of low cost.
Bioinformatics Market - By Application:
Based on the applications segment, Genomics accounts for the largest market share during the forecast period. The genomics application segment is grabbing growth in this market due to increasing the Application in gene sequencing. The proteomics segment is expected to grow in the coming years due to new technologies and several research projects in the bioinformatics market.
Bioinformatics Market - By Region:
Regionally, the North American regional market is predicted to lead the global bioinformatics market, followed by Europe. Asia-Pacific is the fastest-growing market in the world. Factors like rising funding for research, growing demand for bioinformatics in proteomics and genomics research, and technological advancements are expected to drive the rise of this market.
The Bioinformatics market in the Asia Pacific will grow at the fastest rate with double-digit expected growth from 2021 to 2026, thanks to the improved healthcare infrastructure and development plans adopted by regional pharmaceutical companies. It is expected to be accomplished. There are many infectious disease patients in the Asia-Pacific region, which are accelerating the market's demand. APAC accounts for 60% of the world's total population, so a low prevalence means a high number of infected people. Emerging economies, such as India and Australia, also contribute to revenue sharing and progress elsewhere in the Asia-Pacific region. As service outsourcing gains momentum, an increasing number of Asian countries are participating in establishing infrastructure and are expected to influence sector revenue generation through government investment and academic innovation.
The Chinese bioinformatics market is expected to account for the largest share in this regional market during the forecast period due to modern healthcare infrastructure, growing perforation of cutting-edge research, and clinical laboratory techniques driving the bioinformatics market of this APAC region.
The Japanese market is another lucrative region in the Asia Pacific as it has been filled with technological advancements and the growing decoding of genetic sequences. However, a shortage of skilled bioinformatics professionals, high cost, and interaction hamper the growth.
The European market has experienced stable growth in the recent past and is predicted to be the same throughout the forecast period. This regional market is forecasted to showcase a CAGR of 26.8% from 2020 to 2025. Germany is the fastest growing market among different nations of Europe and is predicted to hike at a CAGR of 33.12% during the forecast period.
The Latin American region is projected to grow at a healthy CAGR of 16.2% between 2021 to 2026. This regional market was dominated by Brazil in 2020 with over 35%, followed by Mexico.
KEY MARKET PARTICIPANTS:
Major companies operating in the global bioinformatics market are Agilent Technologies, Affymetrix Inc., Applied Biological Materials (ABM), 3rd Millenium Inc., Illumina Inc., Thermo Fisher Scientific Inc., Qiagen N.V., Biomax Informatics Ag, DNAnexus, Inc. and Waters Corporation.
Several biotech companies and research institutes have taken the initiative to conduct a study of gene sequencing to grow the bioinformatics market. Using rapid-friendly software such as RasMol, BALL that is used to detect toxicity before the drug discovery processing in the market is factor increase the growth of the global market.
MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemiology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Sector
5.1.1 Animal Biotechnology
5.1.2 Environmental Biotechnology
5.1.2.1 Alternative Energy Sources
5.1.2.2 Waste Clean-Up/Bioremediation
5.1.2.3 Climate Change Studies
5.1.3 Agricultural Biotechnology
5.1.3.1 Crop Yield Improvement
5.1.3.2 Pest Resistance
5.1.3.3 Improvement of Plant Resistance
5.1.3.4 Biodiversity Informatics
5.1.3.5 Nutritional Quality Improvement
5.1.4 Forensic Biotechnology
5.1.5 Medical Biotechnology
5.1.5.1 Drug Development
5.1.5.2 Clinical Diagnostics
5.1.5.3 Molecular Medicine
5.1.5.3.1 Personalized Medicine
5.1.5.3.2 Preventive Medicine
5.1.5.4 Gene Therapy
5.1.5.5 Reproductive Biotechnology
5.1.6 Academics
5.1.7 Other sectors
5.1.8 Y-o-Y Growth Analysis, By Sector
5.1.9 Market Attractiveness Analysis, By Sector
5.1.10 Market Share Analysis, By Sector
5.2 Products and Services
5.2.1 Bioinformatics Platforms
5.2.1.1 Sequence Analysis Platforms
5.2.1.2 Sequence Alignment Platforms
5.2.1.3 Sequence Manipulation Platforms
5.2.1.4 Structural and Functional Analysis Platforms
5.2.1.5 Other Bioinformatics Platforms
5.2.2 Knowledge Management Tools
5.2.2.1 Generalized Knowledge Management Tools
5.2.2.2 Specialized Knowledge Management Tools
5.2.3 Bioinformatics Services
5.2.3.1 Data Analysis
5.2.3.2 Sequencing Services
5.2.3.3 Other Bioinformatics Services
5.2.3.4 Database and Management Services
5.2.4 Y-o-Y Growth Analysis, By Products and Services
5.2.5 Market Attractiveness Analysis, By Products and Services
5.2.6 Market Share Analysis, By Products and Services
5.3 Application
5.3.1 Proteomics
5.3.2 Transcriptomics
5.3.3 Molecular Phylogenetics
5.3.4 Chemoinformatics
5.3.5 Drug Design and Genomics
5.3.6 Y-o-Y Growth Analysis, By Application
5.3.7 Market Attractiveness Analysis, By Application
5.3.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Sector
6.1.3.2 By Products and Services
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Sector
6.1.4.2 By Products and Services
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Sector
6.1.5.2 By Products and Services
6.1.5.3 By Application
6.2 Middle-East
6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Agilent Technologies
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Affymetrix Inc.
8.3 Applied Biological Materials (ABM)
8.4 3rd Millenium Inc.
8.5 Illumina Inc.,
8.6 Thermo Fisher Scientific Inc.
8.7 Qiagen N.V.
8.8 Biomax Informatics Ag
8.9 DNAnexus, Inc.
8.10 Waters Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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