Global Bioinformatics Services Market

Bioinformatics Services Market Size, Share, Growth Analysis, By Application(Genomics, Chemoinformatic & Drug Design), By Specialty(Medical, Animal) - Industry Forecast 2024-2031

Report ID: SQMIG35H2205 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 77

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Bioinformatics Services Market size was valued at USD 2.5 billion in 2021 and is poised to grow from USD 2.90 billion in 2022 to USD 8.14 billion by 2030, at a CAGR of 15.9% during the forecast period (2023-2030).

These participants are engaging in strategic collaborations with various information technology companies to strengthen their market presence by offering customers improved information management solutions. 'Thermo Fisher Scientific (United States)', 'Illumina, Inc. (United States)', 'QIAGEN N.V. (Germany)', 'PerkinElmer, Inc. (United States)', 'Agilent Technologies, Inc. (United States)', 'Eurofins Scientific (Luxembourg)', 'Waters Corporation (United States)', 'Partek Incorporated (United States)', 'Biomax Informatics AG (Germany)', 'DNASTAR, Inc. (United States)', 'Geneious (New Zealand)', 'CLC bio (Qiagen) (Denmark)', 'Genedata AG (Switzerland)', 'Accelrys (Dassault Systèmes) (United States)', 'Active Motif, Inc. (United States)', 'Compugen Ltd. (Israel)', 'BioTeam, Inc. (United States)', 'BGI (China)', 'Genomatix Software GmbH (Germany)', 'Nonlinear Dynamics (Waters Corporation) (United Kingdom)', 'Seven Bridges Genomics, Inc. (United States)', 'CytoGenomics Inc. (United States)'

There is a growing emphasis on personalized medicine, which aims to provide tailored healthcare solutions based on an individual's genetic makeup and unique characteristics. Bioinformatics services play a crucial role in analyzing and interpreting genomic data to identify biomarkers, predict disease risk, and optimize treatment plans. The rising demand for personalized medicine is driving the adoption of bioinformatics services in both research and clinical settings.

Cloud computing is gaining traction in the bioinformatics domain. Cloud-based bioinformatics services offer scalability, cost-effectiveness, and ease of data access and collaboration. Researchers can leverage cloud platforms for data storage, analysis, and sharing, overcoming limitations associated with on-premises infrastructure.

North America dominates the bioinformatics services market, accounting for over a third of the total revenue. This is primarily due to a well-defined regulatory framework that encourages industry participation, leading to increased revenue generation. The simultaneous development of next-generation sequencing and chemical laboratories in the region has had a significant impact on the high penetration of drug discovery-based informatics services, further driving revenue growth.

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