Bioinformatics Market Research Report- Forecast to 2030

Bioinformatics Market Information, by Application (genomics, chemoinformatics, drug design, transcriptomics, molecular phylogenetics, proteomics, metabolomics and others), by Technology and Services (data warehousing, sequence analysis, sequence manipulation and others), by Sector (medical bioinformatics, animal bioinformatics, agriculture bioinformatics and others) - Forecast to 2030

ID: MRFR/LS/1664-HCR | February 2023 | Region: Global | 80 Pages         

Bioinformatics Market Speak to Analyst Request a Free Sample

Bioinformatics Market

The Bioinformatics market is Expected to reach USD 26.7 billion at a CAGR of 14.50% during the forecast period of 2022-2030

Segmentation
By Application genomics chemoinformatics drug design transcriptomics molecular phylogenetics proteomics metabolomics
By Technology and Services data warehousing sequence analysis sequence manipulation
Key Players
Companies Profiled   Agilent Technologies   Illumina Inc.   QIAGEN N. V and Thermo Fisher Scientific Inc.   Dassault Syst√®mes   QIAGEN
Drivers
Market Driving Forces   Increasing research and development investments   Government and private organizations initiatives
Request a Free Sample

Bioinformatics Market Overview:


The bioinformatics market is expected to grow at CAGR of 14.50% to reach USD 26.7 billion during the forecast period 2022-2030. Bioinformatics is a branch of computer science that studies gene and protein activities, establishes evolutionary links, and predicts the three-dimensional structures of proteins. The human genome project and sequencing initiatives for other organisms have generated an unprecedented amount of biological data. Bioinformatics, an ever-evolving science, is in charge of meeting the enormous demand for data analysis and interpretation. Bioinformatics is the application of computation and analysis tools to the capture and interpretation of biological data. This interdisciplinary discipline employs computer science, mathematics, physics, and biology. Bioinformatics is essential for data management in modern biology and medicine. Bioinformatics is a computational science branch that studies biological molecular sequences. The Global Bioinformatics Market is expected to grow significantly in the coming years, owing to increased demand for integrated data, increased demand for nucleic acid and protein sequencing due to lower sequencing costs, and increased demand for proteomics and genomics applications. Furthermore, drug research and development and government and private-sector activities are expected to drive market growth during the forecast period. However, the market is expected to be hampered during the projection period by a lower-rate shortage of experienced staff, standard data formats, and user-friendly tools.


Furthermore, regulatory policies in the Asia Pacific are more adaptable and business-friendly due to fewer stringent laws and data requirements. As competition in developed markets heats up, manufacturers will be forced to focus more on emerging markets. Increased demand for integrated solutions and systems, integration of machine learning and AI in healthcare, and increased investment by software companies in the development of bioinformatics solutions, on the other hand, are expected to provide lucrative market opportunities for bioinformatics solution developers.


Covid analysis 


Bioinformatics technology provides exceptional support for scientific researches. The outbreak of covid 19 is a real test for the bioinformatics market. During the covid 19, the research about the virus is tremendous. The research to stop the spread of the virus is massive. The next generation is possible through bioinformatics technology. With the technology, the medical industry can know the information about the virus and its spread. 


With the comprehension of SARS-CoV and bioinformatics, complete details about the virus are available. The outsourcing of bioinformatics is happening at a rapid pace in the forecast period. Bioinformatics technology is an exceptional source for the scientist to extract information about covid. Due to this, the adoption of bioinformatics is rising during this period. Several scientific institutes are using bioinformatics technology. The overall covid 19 analysis of the market shows a surging market trend. 


Market dynamics 



  • Crucial market drivers


Many governments are increasing their investments in the bioinformatics sectors. The rising investment from the government sector is the crucial driver for the market. Due to the high investments, the technological development in the sector is massive. The services of the medical industry are increasing through the use of the bioinformatics market. Many biopharmaceutical companies are receiving funds from governments and government-aided institutes. It is a crucial driver for the market that will improve the services of bioinformatics. There are plenty of benefits for the market due to governmental help. The quality of the bioinformatics service will be superior in the forecast period.


Further, the awareness about bioinformatics will improve because of the investments. More accessibility and availability of these services will lead to quick adoption. Countries such as the UK and the US are increasing their investment in the bioinformatics market. The rising research and development is a crucial factor that raises the demand for the bioinformatics services market. High research and development will lead to variation and advancement in technology. There are more possibilities for hybrid bioinformatics technology launch in the forecast period. Further, the possibilities for market expansion are high due to these markets drivers.



  • Market growth opportunities¬†


The focus of bioinformatics services in emerging markets will lead to market growth opportunities. There is plenty of emerging market in bioinformatics. India, Russia, China, South Korea and Taiwan have plenty of growth opportunities for key players. The need for bioinformatics services is high. The emerging markets do not have proper resources for drugs discovery. The biopharmaceutical industry has a massive amount of data. However, there is no reliable source to store it. The launch of bioinformatics in this emerging market will lead to promising growth opportunities. The genomics, drug precision and biopharmaceutical industry developments depend on bioinformatics. More availability of this technology will lead to more market profits.


The well-established market already has a high adoption rate. In the future, demand from the emerging market will help to sustain the demand for bioinformatics technology. The Asia Pacific is the key regional area for higher development and expansion. Penetration of bioinformatics in this region will benefit the overall market growth. It increasing research and developments, the bioinformatics market will boom in upcoming years. Further, with new market acquisitions, the market will become even more powerful. The new product launch will attract end-users from different regions. All these factors will increase bioinformatics growth rate. 



  • The market restraints¬†


NGS technology is rising in many regions. The need for quick and accurate bioinformatics technology is essential. Most of the bioinformatics tool is exceptional. However, the accuracy in bioinformatics is less than NGS. Moreover, many scientists do not know to operate bioinformatics technology. The requirement for user-friendly tools is higher. Most of the bioinformatics tools require high expertise in computer systems. The lack of expertise is a restraining factor in the market. For small pharmaceutical companies, the bioinformatics system is not feasible. The high rate of investment in technology is another drawback for the market. These restraints can decline the demand rate in the forecast period. 



  • The market challenges¬†


The next-generation sequencing technologies have a high potential to store biological data. It can generate a large volume of data. The adoption of NGS technology and other alternatives is a significant challenge for bioinformatics technology. The confidentiality concerns in bioinformatics technology are high.


On the other hand, data analysis and the drug is secure in NGS technologies. It is a serious threat to bioinformatics technology. The poor management of data is a challenging factor that can hinder the market growth rate. 



  • Cumulative growth analysis¬†


The bioinformatics market trends remain constant in the forecast period. There are few factors the continuously propel the growth of the market. Rising investments provide exceptional demand for the bioinformatics market. The governmental support for the market leads to high growth opportunities in the forecast period.


The research and development in the market will lead to more innovation in the market. The lack of technical skills among scientists is the restraining factor of the market. Further, the rising demand for NGS technologies is another challenge in the market. These factors can affect the overall growth of the market. 



  • Value chain analysis¬†


North American regions dominate the market with a high demand rate. Also, it holds major bioinformatics market shares. It is a region accountable for more than 45% shares of the market. The presence of leading bioinformatics markets is the crucial reason for high demand.


 Governmental initiatives are continuously rising in this region. Bioinformatics technological advancements are massive in this region. Further, the awareness about bioinformatics technology is tremendous in North America. Also, it is a favourable region for more research activities. The market scenario is continuously improving with high growth possibilities. 


Segment overview 


By product 



  • Bioinformatics services¬†

  • Knowledge management tools¬†

  • Bioinformatics platforms¬†


By application 



  • Metabolomics¬†

  • Genomics¬†

  • Chemoinformatics¬†

  • Transcriptomics¬†

  • Proteomics¬†


By sector 



  • Forensic biotechnology¬†

  • Medical biotechnology¬†

  • Environmental biotechnology¬†

  • Plant biotechnology¬†


By region 



  • Asia pacific¬†

  • North America¬†

  • Europe¬†


Competitive landscape 


The competition in the bioinformatics market is increasing forecast period. Market expansion, acquisition, and partnership are the key strategies in the competitive landscape. The bioinformatics and AI adoption will lead to plenty of new growth opportunities in the market. The key players of the market are focusing more on AI technology. It will make bioinformatics technology more efficient. 


Regional analysis 


The bioinformatics market is diversified into Asia Pacific, Europe and North America. North America continues to dominate the bioinformatics market than other regional players. With more awareness and effortless adoption, the demand will be remarkable for the market. Governmental support will enhance the overall bioinformatics market. Further, the skilled experts to handle this technology are high in North America. The Asia Pacific is another region with the highest bioinformatics market growth rate.


The growth of pharmaceutical companies is providing a profitable platform for bioinformatics. The need to store and analyse biotechnical data is massive is high in this region. It is a region that will witness the highest expansion rate. The need for bioinformatics is high. More awareness about the technology can bring favourable changes in the market. Further, Europe has a tremendous amount of healthcare investments for the forecast period. The adoption of IoT is high in Europe. It will lead to more moderate demand for bioinformatics in the forecast period. 


The key players of the bioinformatics market are 

  • Biomax Informatics AG

  • Scientific, Inc

  • Eurofins Scientific

  • Source BioScience

  • QIAGEN N.V

  • Sophia Genetics

  • Agilent Technologies, Inc

  • NeoGenomics Laboratories

  • Perkin Elmer

  • Waters Corporation

  • DYNASTAR
  • Recent Developments¬†


    Indivumed GmbH will launch nRavel, a novel AI discovery platform for oncology and precision medicine, in July 2021. This platform combines IndivuType's deep multi-omics data with extensive disease models, high-powered automated machine learning methods, and advanced analytics tools.


    Report overview 

  • Market overview highlights¬†

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • Recent Developments


  • Report Scope:

    Report Attribute/Metric Details
      Market Size   USD 26.7 billion
      CAGR   14.50%
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Application, Technology and Services and Sector
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Agilent Technologies, Illumina, Inc., QIAGEN N. V, and Thermo Fisher Scientific Inc., Dassault Syst√®mes, QIAGEN
      Key Market Opportunities   Joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments
      Key Market Drivers   Increasing research and development investments, government and private organizations initiatives


    Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The bioinformatics market is projected grow at approximately 14.50% CAGR during the assessment period (2022-2030).

    Illumina, Inc., Agilent Technologies, QIAGEN N. V, and Dassault Systèmes, Thermo Fisher Scientific Inc., and QIAGEN, are some of the major players operating in the bioinformatics market.

    North America holds the largest share in the global bioinformatics market, followed by Europe and the Asia Pacific, respectively.

    Increasing global burden of chronic diseases, increasing research and development investments, government and private organizations initiatives, and improved collaborative ties between companies and research institutes are the major tailwinds pushing the growth of the global bioinformatics market.

    Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global bioinformatics market adopt to gain a larger competitive advantage.