The size of the European Bioinformatics Market was worth USD 2.91 billion in 2022 and estimated to be growing at a CAGR of 14.3%, to reach USD 5.69 billion by 2027.
Bioinformatics is a field of study in which biological data is interpreted through the development and use of new software tools and methods. It is an interdisciplinary field comprising engineering, mathematics, statistics, and computer science to analyze the biological information acquired—bioinformatics envelops all the biological studies done using computer programming as the tool. Bioinformatics is most often used for knowing candidate genes and single nucleotide polymorphisms.
Bioinformatics is used in quite a few areas of biology. It helps in obtaining useful information from the text and in gene ontology to organize and name data. In the field of genomics and genetics, assists in sequencing genomes and noting their mutations. It is useful in understanding evolutionary aspects of molecular biology by comparing genetic and genomic data. In experimental molecular biology, it proves very useful because of techniques such as image and signal processing. It also helps in analyzing gene and protein expression and regulation.
The driving factors of the European Bioinformatics market are the growing need for sequencing protein and nucleic acids, rising assistance of this field in manufacturing new medicines and clinical diagnostics, increasing initiatives from the government, rising demand for integrated bioinformatics systems in proteomics and genomics, an increasing number of partnerships between research organizations and companies among others.
The constraints of this market are high costs, lack of skilled workers, lack of user-friendly tools, and lack of interoperability among various data formats.
This research report on the European Bioinformatics Market has been segmented & sub-segmented into the following categories:
By-Products and Services:
Regionally, the European market was the second-largest market in the world in 2020. Factors such as the increased need for protein and nucleic acid sequencing, increasing funding for research, and technological advancements are expected to propel the growth of this market in the region.
During the forecast period, the German bioinformatics market is expected to have the highest shares of the European Bioinformatics market and the bioinformatics market in France and the U.K., which are expected to increase in the forecast period with the highest CAGR. Increasing disposable income in the countries and the adoption of new technologies from the users are likely to bolster the market demand. Also, the end-users' increasing use of advanced tools is expected to boost the Bioinformatics growth in the forecast period.
KEY MARKET PLAYERS:
Some of the key market participants operating in the European Bioinformatics Market profiled in this report 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 among others.
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