USD 13.2 billion
Report ID: SQMIG35H2059 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 75 | Figures: 75
Bioinformatics Market size was valued at USD 13.2 billion in 2021 and is poised to grow from USD 15.35 billion in 2022 to USD 45.6 billion by 2030, growing at a CAGR of 16.3% in the forecast period (2023-2030).
Bioinformatics is the use of computer, biology, and information technology to manage, analyze, and interpret biological data. It entails storing, evaluating, and disseminating biological data. It also employs the computer programs to determine gene and protein functions, establish evolutionary relationships, and predict the three-dimensional shapes of proteins. The ultimate goal of bioinformatics is to extract meaningful information from biological data to create better biological processes. Some of the applications of bioinformatics include sequence alignment, systems biology, and genome annotation.
US Bioinformatics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.2 billion
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The global bioinformatics market is segmented based on products and services, application, and region. Based on products and services bioinformatics market is categorized into: knowledge management tools, bioinformatics platform (sequence analysis platform, sequence alignment platform, sequence manipulation platform, structural and functional analysis platform, and other bioinformatics platforms), bioinformatics services (sequencing services, database and management services, data analysis, other bioinformatics) services.
Based on application bioinformatics market is categorized into microbial genome, gene engineering, drug development, omics, personalized medicine, and other applications. Based on sector, the bioinformatics market is segmented into medical bioinformatics, animal bioinformatics, agriculture bioinformatics, academics, and others. Based on region bioinformatics market spans North America, Europe, Asia-Pacific, South America, and MEA.
Bioinformatics Market Analysis by Product & Service
The bioinformatics platforms segment contributed the most revenue in 2020, and this trend is expected to continue during the forecast period, owing to an increase in platform applications and a need for better tools in drug development. The rise in platform application could be attributed to a surge in demand from life science firms for structure identification and modification. This, in turn, would help in the drug design process and the evaluation of therapeutic effects. Furthermore, increased efficiency and safety in drug development and discovery necessitates the development of better drug development tools.
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North America dominated the Bioinformatics Market in 2022, accounting for the majority of the bioinformatics market share, and this trend is expected to continue throughout the forecast period. This is due to an increased demand for improved bioinformatics tools, which are required for drug research and development, as well as an increase in the use of sophisticated technologies. The bioinformatics market in Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. Furthermore, the region's bioinformatics industry is still in its infancy, with gradual research activities ongoing.
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Growing Demand for Protein Sequencing for Research Initiatives to Empower
Need for Complex Systems to Handle Bioinformatics
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The key players have a strong foothold in the Bioinformatics Market and offer a wide range of products & services. Some of the key players in this Bioinformatics Market are Thermo Fisher Scientific, Inc., Eurofins Scientific, QIAGEN N.V., Agilent Technologies, Inc., and Illumina, Inc. among others.
Bioinformatics Market Top Players Company Profiles
Bioinformatics Market Recent Developments
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 the global bioinformatics market report and 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, metabolomics (including chromatography, mass spectrometry, and NMR instruments), precision medicine, drug discovery, and other markets. Furthermore, because of fewer severe laws and data requirements, regulatory policies in Asia Pacific are more adaptable and business-friendly. Manufacturers will be compelled to focus on emerging markets as competition in mature countries intensifies.
|Market size value in 2021||USD 13.2 billion|
|Market size value in 2030||USD 15.35 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
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