The market size has increased as a result of product development in recent years. This also demonstrates the regulatory body's support for allowing these products on the market. Therefore, the global bioinformatics market is estimated to increase rapidly in the near future.
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Data Bridge Market Research analyses that the bioinformatics market is expected to grow at a CAGR of 18.9% in the forecast period of 2022 to 2029 and is expected to reach USD 47,153.15 million by 2029.
Rising public-private sector funding for bioinformatics is expected to drive the market's growth rate
The various government bodies and private organizations across the globe are increasingly investing in the field of bioinformatics. These investments have resulted mainly in data and technological advancements in bioinformatics services, which, in turn, have enhanced the quality of these services. Informatics is important in biological research involving biologists who learn the computer programmers, programming, or database managers who learn the basics of biology.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Knowledge Management Tools, Bioinformatics Software and Services), Sector (Medical Biotechnology, Academics, Animal Biotechnology, Agricultural Biotechnology, Environmental Biotechnology, Forensic Biotechnology and Others), Application (Genomics and Drug Development, Proteomics, Evolutionary Studies, Agricultural Studies, Veterinary Science, Metabolomics, Transcriptomics and Others), Purchase Mode (Group Purchase and Individual Purchase), Method (Genomics and Proteomics) End-User, (Research and Academic Institutes, Clinical Research Organization, Biotech and Pharmaceutical Companies, Research Laboratories, Hospital and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), Agilent Technologies, Inc (U.S.), QIAGEN (Germany), SOPHiA GENETICS (Switzerland), BGI (China), Eurofins Scientific (Luxembourg), WATERS (Australia), Partek Incorporated (U.S.), DNASTAR (U.S.), Dassault Systèmes (France), Bayer AG (Germany), DNANEXUS, INC. (U.S.), PerkinElmer Inc. (U.S.), Seven Bridges Genomics (U.S.), Quest Diagnostics Incorporated (U.S.), AstridBio Technologies Inc. (Hungary)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global bioinformatics market is segmented into type, sector, application, purchase mode, genomics and end user.
- On the basis of type, the global bioinformatics market is segmented into knowledge management tools, bioinformatics software, and services.
In 2022, the services segment is expected to dominate the global bioinformatics market
The services segment is expected to dominate the global bioinformatics market with a market share of 52.44% due to the increase in platform applications and the need for better drug development tools.
- On the basis of sector, the global bioinformatics market is segmented into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology, and others.
In 2022, the medical biotechnology, segment is expected to dominate the global bioinformatics market
The medical biotechnology, segment is expected to dominate the global bioinformatics market with a share of 32.16% due to rise in preference in companion diagnostics.
- On the basis of application, the global bioinformatics market is segmented into genomics and drug development, proteomics, evolutionary studies, agricultural studies, veterinary science, metabolomics, transcriptomics, and others. In 2022, the genomics and drug development segment is expected to dominate the global bioinformatics market with a share of 20.93% due to the exploitation of genomic, transcriptomic, and proteomic data.
- On the basis of purchase mode, the global bioinformatics market is segmented into group purchases and individual purchases. In 2022, the group purchase segment is expected to dominate the global bioinformatics market with a share of 69.13% due to aided by the desire for innovative medications.
- On the basis of method, the global bioinformatics market is segmented into genomics and proteomics. In 2022, the genomics segment is expected to dominate the global bioinformatics market with a share of 59.23% due to understanding biological data like DNA sequencing, protein analysis, evolutionary genetics.
- On the basis of end-user, the global bioinformatics market is segmented into research and academic institutes, clinical research organization, biotech and pharmaceutical companies, research laboratories, hospital, and others. In 2022, the research and academic institutes segment is expected to dominate the global bioinformatics market with a share of 33.22% due to identify, evaluate, store and retrieve biological information.
Major Players
Data Bridge Market Research recognizes the following companies as the major bioinformatics market players in bioinformatics market are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), Agilent Technologies, Inc (U.S.), QIAGEN (Germany), SOPHiA GENETICS (Switzerland), BGI (China), Eurofins Scientific (Luxembourg), WATERS (Australia), Partek Incorporated (U.S.)
Market Development
- In March 2022, Thermo Fisher Scientific Inc launched the CE-IVD Marked Next-Generation Sequencing (NGS) Instrument for Use in Clinical Labs. The CE-IVD Marked Next-Generation Sequencing Instrument is used to conduct clinical research and diagnostic tests on a single device. A new product was added to the product line as a result of the instrument's debut, and the NGS instrument was distributed, both of which are anticipated to boost product sales
- In January 2020, Charles River entered into a strategic alliance with FiOS Genomics to acquire expertise in bioinformatics, statistics, and biology to aid in the collection and analysis of high-dimensional, multi-variant datasets related to drug development, such as microarrays, next-generation sequencing (NGS), proteomics, metabolomics, and epigenetics, as well as the associated meta-data.
- In January 2021, Illumina, Inc. announced the expansion of its CE-marked in vitro diagnostic TruSight Oncology (TSO) Comprehensive (EU) test to include a companion diagnostic (CDx) indication. This single test kit, just released in Europe, evaluates a variety of tumor genes and biomarkers to show the precise molecular makeup of a patient's cancer.
Regional Analysis
Geographically, the countries covered in the bioinformatics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in bioinformatics market during the forecast period 2022 - 2029
North America dominates the bioinformatics market due to increased incidence of chronic diseases and increased research and development activity in bioinformatics software and drug development.
Asia-Pacific is estimated to be the fastest growing region in bioinformatics market the forecast period 2022 - 2029
Asia-Pacific is expected to grow during the forecast period due to rising government initiatives for research and development, improving IT infrastructure, and advancements in the genomics field.
COVID-19 Impact Analysis
The worldwide bioinformatics industry focuses on combining biology and information technology during the pandemic. The biological data at the centre of the sector is evaluated and converted utilizing IT methods. Bioinformatics has always had great potential when it comes to offering vital assistance to numerous fields of scientific study. With the help of bioinformatics tools, researchers can manage larger data sets and analyze them to find important data that may lead to important discoveries. In recent years, comparative genomics, DNA microarrays, and functional genomics have been major areas of interest for bioinformatics.
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