Luton, Bedfordshire, UK, Sep 23, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the research report detailed about Bioinformatics Market.
Bioinformatics Market size was valued at USD 10.4 Billion in 2020 and is projected to reach USD 37.74 Billion by 2029, growing at a CAGR of 15.4% from 2022 to 2029.
Bioinformatics deals with the recording, annotation, storage, analysis and retrieval of nucleic acid sequences, protein sequences and structural information. Molecular medicine, preventive medicine, genetical therapy, drug development, biotechnology and microbiological forensics are just a few of the applications in health and biology. It is also used in genetics and genomics research.
Pharmaceutical research and development as well as government and private sector initiatives will drive the bioinformatics business of the future. Moreover, increasing expenditure on bioinformatics research and development by global players is expected to create profitable prospects for the market throughout the forecast period. During pandemics, sequencing and data analysis can become important tools for identifying and detecting environmental, animal and human viruses. Knowledge of viral diversity can aid in the development of inexpensive vaccines and diagnostic methods, but information on transmission routes is essential for public health management and containment strategies.
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Bioinformatics market: recent developments
- Agilent Technologies, Inc. is an American analytical instrument development and manufacturing company that provides its products and services to markets worldwide.
- Biomax facilitates digital transformation within biotechnology, pharmaceutical, agricultural, food and chemical industries as well as research institutes. Biomax offers a range of standard products meeting digitization needs, such as semantic research, brain imaging or clinical integration.
Growth prospects
The increased demand for integrated solutions and systems, as well as the integration of machine learning and AI in healthcare and software companies investing in the development of bioinformatics solutions, are expected to offer bioinformatics solution developers lucrative market prospects. Additionally, many governments are investing in national population sequencing studies to better understand the relationship between genetics and disease. Millions of people’s genomes are sequenced by government agencies to promote research and discover better ways to diagnose and cure cancer, rare disorders and other conditions. Bioinformatics products and services are expected to be in high demand due to these huge sequencing efforts.
These key players include Agilent Technologies, Inc., Biomax Informatics AG, DNAnexus, Inc., Genedata AG, Intrexon Bioinformatics Germany GmbH, Illumina Inc., Perkinelmer Inc., Qiagen NV, Seven Bridges Genomics Inc. and Thermo Fisher Scientific, Inc. Other players in value chain include Geneva Bioinformatics (Genebio), Dassault Systems, Eurofins Scientific, Bruker Daltonics Inc., Accelrys, Inc., Affymetrix, Inc., SA Nonlinear Dynamics and Quest Diagnostics, and others.
Bioinformatics Market Scope: Discount on report
| Bioinformatics market | |||
| Bioinformatics Market Report Coverage | Details | ||
| Year of reference : | 2021 | Forecast period | 2022-2029 |
| Historical data: | 2020 | Market size | 10.4 billion in 2020. |
| Forecast Period 2022 to 2029 CAGR: | 15.4% | Market size in 2029: | US$37.74 billion |
| Scope of customization | Report customization (equivalent to up to 10 analyst business days) with purchase. Add or change country, region and segment scope | Excel package | Unique users |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. | The report will be delivered in Excel format only. | The report will be delivered in Excel format only. |
| Introduction to Segmentation | Technology and services |
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| By request |
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Segment Analysis->
The market is broadly segmented into technology and services, application, industry, and region.
The bioinformatics market is divided into three categories based on technology and services: knowledge management tools, bioinformatics platforms and bioinformatics services. Due to an increase in platform applications and demand for better drug development tools, the bioinformatics platform segment was the major revenue generator. This trend is expected to continue over the forecast period.
Regional Share Analysis->
With a market 43% share in 2021, North America led the bioinformatics industry, followed by Europe and Asia-Pacific. Government support for genomics research, presence of major bioinformatics vendors, reduction in sequencing costs, increased visibility of bioinformatics services, and increased regional genomics research activity (and adoption corresponding to bioinformatics) have contributed to the growth of North America. Driving the growth of the bioinformatics market. The funding situation for research activities in North America is good. This geographic market is characterized by increased government commitment to genomic testing and favorable funding scenarios for research activities involving bioinformatics technologies.
Browse the In-Depth Growth Report (65 Pages) on the Bioinformatics Market:
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Frequently Asked Questions
- What will be the growth rate of the market for bioinformatics?
- Who are the main producers of Bioinformatics?
- What are the developing regions in bioinformatics?
- What are the sales, volume, and price analysis of major Bioinformatics manufacturers?
- Who are the distributors, resellers in Bioinformatics?
- What are the bioinformatics opportunities and threats for the vendors in the global bioinformatics industry?
- What are Bioinformatics sales, revenue, and price analysis by type and industry application?
- What are the main opportunities currently dominating the market?
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