USD 13.2 billion
Bioinformatics Market Size, Share, Growth Analysis, By Products and Services (Bioinformatics Platform, Services), By Application (Genomics, Chemoinformatics & Drug Design), By Source, By Sector (Medical Biotechnology, Animal Biotechnology), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2059 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
75
|Figures:
75
Bioinformatics Market Insights
Bioinformatics Market size was valued at USD 13.2 billion in 2022 and is poised to grow from USD 15.35 billion in 2023 to USD 45.6 billion by 2031, growing at a CAGR of 16.3% in the forecast period (2024-2031).
The research of new drugs and increasing private and public investment initiatives to support R&D activities are expected to be the major drivers of the market during the forecast period. In addition, user-friendly and easily accessible bioinformatics software such as RasMol, AUTODOCK, BALL, Bioclipse, and the widespread use of these tools in the market.
Bioinformatics software and tools are used as integrated solutions that provide algorithms and statistical methods for data analysis and help integrate data management. Increasing R&D programs in the market, as well as other related '-omics' fields, are expected to further support market growth though the requirement for data storage and analysis.
According to an article published by Stanford Medicine in January 2022, studies through Stanford scientists confirmed that DNA sequencing techniques can sequence the human genome in approximately 8 hours. Such advances could drive the call for genomics about has grown, and consequently, the field of bioinformatics. Such advances could drive the demand for genomics approximately has grown, and consequently, the field of bioinformatics. Bioinformatics data storage and analysis applications can store massive amounts of genomic and proteomic facts to facilitate studies in regions ranging from genetic illnesses to chemoprevention to carcinogens in aging.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Bioinformatics Platform
Fastest Growth
Bioinformatics Platform
Growth Rate
16.3% CAGR
Global Bioinformatics Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Bioinformatics Market Segmental Analysis
The global bioinformatics market is segmented based on products and services, application, sector, and region. Based on Products and Services, the market is segmented into Knowledge Management Tools (Generalized Knowledge Management Tools, Specialized Knowledge Management Tools), Bioinformatics Platforms (Data Analysis Platforms, Structural & Functional Analysis Platforms, Other), and Bioinformatics Services (Sequencing Services, Data Analysis Services, Drug Discovery Services, Differential Gene Expression Analysis Services, Database And Management Services, Other). Based on application, the market is segmented into Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, and Others. Based on sector, the market is segmented into Medical Biotechnology (Drug Discovery & Development, Clinical Diagnostics & Personalized Medicine, Reproductive Health), Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Other. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product & Service
The bio-content management dominates the segment with a revenue share of 39.6% in 2022. The widespread use of bio-informatics tools and software in database management is one of the reasons for this high share, due to the fact that it manages data efficiently and easily. It encourages the sharing of external databases and resources and encourages data integration. The segment is also expected to witness significant growth over the forecast period owing to rapidly increasing demand for whole genome and exome sequencing technologies due to the moving cost of gene sequencing.
The bioinformatics platforms segment is expected to grow significantly over the forecast period. Bioinformatics platforms greatly facilitate collaboration and data sharing in academia. The increasing volume and complexity of biological data, the rise of personalized medicine, and the rise of cloud computing are driving segment growth and are also driving the development of bioinformatics platforms. Furthermore, the introduction of new and advanced technologies is anticipated to fuel the growth of the market during the forecast period. For example, in June 2022, My Intelligent Machines (MIMs) launched its software for the drug development in oncology. In other news, in August 2022, ARUP launched Rio, a bioinformatics analytics platform that helps generate faster results for next-generation sequencing assays.
Analysis by Application
The genomics segment is expected to expand at a CAGR of 11.3% and account for the largest market share. Genomics is a combination of genetics and bioinformatics that uses DNA and its sequencing techniques to assemble, analyze, and sequence the structure and function of the genome (DNA). Genomics applications include micro-scale genetic mapping and whole DNA sequencing of organisms. Increased government spending and increased genetic testing programs are supposed to drive the expansion of the genomics sector. The genomics segment in the market is expected to expand significantly in the field of personalized medicine due to its particular emphasis on drug discovery.
Chemoinformatic & drug design is the fastest growing segment in the market. The annotation and collection of medical information transforms data into useful information. Copper discovery facilitates mobility at low microsite levels, while optimized copper utilization facilitates conversion of copper into therapeutic candidates. Explosive data from high throughput sequencing and library building requires improved drug information systems. Drug discovery and supplementary drug information is expected to contribute to the development of and enable the SMEs to participate in drug discovery research.
Global Bioinformatics Market By Application (%)
To get detailed analysis on other segments, Request For Free Sample Report
Bioinformatics Market Regional Insights
North America dominated the market with a 43.6% revenue share in 2022. Most of the revenue is generated from the US and Canada, which are dominated by top research organizations, academic institutions and bioinformatics companies in this region. The regional market is expected to grow with the rise of research and innovative technologies and cutting-edge technologies related to molecular biology and genome design. For example, in June 2022, California-based biotech studies startup LatchBio released an end-to-end bioinformatics platform that tactics large biotech data to accelerate the medical discovery.
Asia-Pacific is poised to be the fastest growing market with a CAGR of 18.4%. The influx of the skilled and trained bioinformaticians and the anticipated strong growth in the regional IT sector are expected to boost the capacity of developed economies. Supportive government policies are also expected to boost the growth of the region during the forecast period. For example, China has released initiatives together with the China Precision Medicine Initiative and the China National Gene Bank that emphasize the usage of bioinformatics in genomics research and healthcare. While countries like India and South Korea have advanced bioinformatics capacity building packages strengthen and inspire innovation on this region.
Global Bioinformatics Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Bioinformatics Market Dynamics
Driver
Growing Demand for Generic Drugs
- Growing personalized medicine is driving the global bioinformatics market. As healthcare moves towards optimal treatment based on individual genetic data, the need for bioinformatic tools to analyze and interpret large amounts of genetic data is increasing. This demand is driving the adoption of bioinformatics in pharmaceutical a in diagnosis, evaluation and treatment options.
Advances in Sequencing Technology
- Rapid advances in sequencing technologies such as next-generation sequencing (NGS) have significantly reduced the cost and time required for genome sequencing. This has increased the generation of genomic data, requiring robust bioinformatics solutions to view, analyze and interpret data. These developments are the key drivers for the growth of the global bioinformatics market.
Restraint
High Cost of Bioinformatics Software and Equipment
- The high cost associated with bioinformatics software, equipment and services is a major restriction for the market.Investing in expensive bioinformatics systems may be difficult for smaller studies establishments and corporations, specifically in growing areas with restricted market growth.
Data Privacy and Security Concerns
- Bioinformatics involves the handling of sensitive genetic information, concerns about data privacy and security are paramount. The possibility of data breach and misuse of genetic information poses a severe limitation, leading to regulatory scrutiny and the need for stringent data protection measures, which may impede market growth.
Request Free Customization of this report to help us to meet your business objectives.
Bioinformatics Market Competitive Landscape
The key players have a strong foothold in the market and offer a wide range of products & services. Participants in the industry are engaged in research and development for the advancement of genetic and proteomic sequencing for improving DNA and RNA sequencing capabilities and reduce the costs associated with it. For instance, in July 2024, Inocras collaborated with Watchmaker Genomics for providing solutions focused on accelerating insights for patients and researchers. During the development process, Inocras has conducted extensive testing of various library preparation chemistries. After thorough examining, they have chosen the watchmaker DNA library prep kits with fragmentation because of their superior library conversion efficiency, minimal bias in sequence coverage, and excellent accuracy in sequencing, especially with challenging formalin-fixed, paraffin-embedded (FFPE) tissues.
Top Players Company Profiles
- Illumina Inc. (US)
- Thermo Fisher Scientific Inc. (US)
- Qiagen N.V. (Netherlands)
- Agilent Technologies Inc. (US)
- BGI Group (China)
- PerkinElmer Inc. (US)
- Eurofins Scientific SE (Europe)
- Waters Corporation (US)
- DNAnexus Inc. (US)
- Sophia Genetics SA (Switzerland)
- Partek Incorporated (US)
- Gene Codes Corporation (US)
- Dassault Systemes SE (France)
- Biomax Informatics AG (Germany)
- Bruker Corporation (US)
- GenoLogics Life Sciences Software Inc. (US)
- Nonlinear Dynamics Ltd. (Waters Corporation) (UK)
- Genedata AG (Switzerland)
- Knome Inc. (US)
- Macrogen Inc. (South Korea)
Recent Developments
- In June 2022, California-based biotechnology research startup LatchBio will launch an end-to-end bioinformatics platform for processing big biotech data to provide faster scientific discoveries.
- In March 2022, ARUP launched Rio, a bioinformatics pipeline and analysis platform that will provide better, faster next-generation sequencing test results.
- In January 2021, Illumina announced a cloud-based bioinformatics platform, and a pan-cancer IVD test to enhance its cancer detection efforts.
Bioinformatics Key Market Trends
Integration of Artificial Intelligence (AI) in Bioinformatics
- The integration of AI and machine learning (ML) with bioinformatics is emerging as a market priority. AI-powered bioinformatics tools improve data analysis, enabling faster and more accurate interpretation of complex biological data. This trend is expected to transform various aspects of bioinformatics by improving predictive models, pattern recognition and decision-making strategies.
Bioinformatics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, emerging markets such as India, China, Brazil, Russia, Taiwan, and South Korea present significant growth potential for large bioinformatics firms. The growing prominence of these emerging economies in terms of R&D and investments from global players is expected to provide a favorable outlook as well as opportunities for the growth of genomics and metabolomics. Furthermore, because of fewer severe laws and data requirements, regulatory policies in Asia Pacific are more adaptable and business friendly. The main trend is the rising adoption of personalized medicines which is expanding the market growth. Manufacturers will be compelled to focus on emerging markets as competition in mature countries intensifies.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 13.2 billion |
| Market size value in 2031 | USD 45.6 billion |
| Growth Rate | 16.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bioinformatics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bioinformatics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bioinformatics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bioinformatics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bioinformatics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bioinformatics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Bioinformatics Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
