The size of the North America Bioinformatics Market was worth USD 4.43 billion in 2023 and estimated to be growing at a CAGR of 19.1%, to reach USD 10.61 billion by 2028.
The factors that are boosting the growth of the North American bioinformatics market are growing demand in biomarkers and drug delivery process, technological advancements, growing adoption of bioinformatics for identifying DNA sequences, decreasing costs of sequencing, rise in demand for bioinformatics in proteomics and genomics research, increasing investments and government initiatives.
The factors that are limiting the growth of the market are lack of proper platforms to combine data sets that are produced by bioinformatics, skill shortage to handle bioinformatics tools and lack of professionals for molecular modeling, lack of expertise in bioinformatics research, increasing rate of redundancy in data with the accumulation of data in large amounts, difficulties in the integration of data due to regularly changing data models, and integrating different types of integration.
Increasing bioinformatics applications in blockchain technology, cloud technology, integration of machine learning and artificial intelligence in healthcare, growing investments for developing bioinformatics solutions, advanced tests, and techniques for treating diseases like cancer are likely factors to provide lucrative opportunities for the growth of the market.
This research report on the North American Bioinformatics Market has been segmented & sub-segmented into the following categories:
By-Products and Services:
Regionally, the North American bioinformatics market is the largest globally and accounted for a share of around 34% in 2022. In North America, the United States has the largest share and is also the fastest-growing region. Growing demand for molecular and nucleic acid sequencing, rising investment in research, and a large number of players present in the market are expected to drive the growth of this market in the region.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the North American 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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