Europe Bioinformatics Market, By Type (Knowledge Management Tools, Bioinformatics Software and Services), Sector (Medical Biotechnology, Academics, Animal Biotechnology, Agricultural Biotechnology, Environmental Biotechnology, Forensic Biotechnology and Others), Application (Genomics & 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) - Industry Trends and Forecast to 2029.
Europe Bioinformatics Market Analysis and Insights
The drivers responsible for the growth of the bioinformatics market are the less cost of genetic sequencing per base, growing need for bioinformatics, wide product portfolio offered by major market players and use of bioinformatics in personalized medicine and increased public-private sector funding for bioinformatics. However, factors expected to restrain the market growth are the rise in the cost of instrumentation, difficulty in clinical bioinformatics analysis and cyber security in bioinformatics.
On the other hand, strategic initiatives by market players, product development, advancements in bioinformatics technology and a rise in healthcare expenditure may act as an opportunity for the growth of the bioinformatics market. However, the need for skilled expertise, challenges in implementing bioinformatics technology in clinical laboratories and regulatory approval may create challenges for the bioinformatics market. There are recent developments related to the worldwide bioinformatics market.
The rise in research and development activities in bioinformatics in Europe is expected to boost the market growth. Data Bridge Market Research analyzes that the Europe Bioinformatics market will grow at a CAGR of 19.5% during the forecast period of 2022 to 2029.
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2019 - 2014)
|
|
Quantitative Units
|
Revenue in USD Million, Pricing in USD
|
|
Segments Covered
|
By Type (Knowledge Management Tools, Bioinformatics Software and Services), Sector (Medical Biotechnology, Academics, Animal Biotechnology, Agricultural Biotechnology, Environmental Biotechnology, Forensic Biotechnology and Others), Application (Genomics & 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)
|
|
Countries Covered
|
Germany, France, U.K., Italy, Russia, Spain, Switzerland, Netherlands, Belgium, Turkey, Rest of Europe
|
|
Market Players Covered
|
Thermo Fisher Scientific Inc., Illumina, Inc., Agilent Technologies, Inc., QIAGEN, SOPHiA GENETICS., BGI, Eurofins Scientific, Waters Corporation, Dassault Systèmes, Bayer AG, PerkinElmer Inc., Seven Bridges Genomics, Quest Diagnostics Incorporated., AstridBio Technologies Inc., BioBam and GenoFAB, Inc.
|
Market Definition
Bioinformatics combines computer programming, big data, and Molecular Biology, which enables scientists to understand and identify patterns in biological data. It is particularly useful in studying genomes and DNA sequencing, as it allows scientists to organize large amounts of data.
From genetics to toxicology to mycology and radiobiology, there are scores of branches of Biology to specialize in. And out of the many, Bioinformatics is one of the intriguing fields which enables you to identify, evaluate, store, and retrieve biological information. Being an interdisciplinary field of study, it incorporates various applications of Computer Science, Statistics, and Biology to develop software applications for understanding biological data like DNA sequencing, protein analysis, evolutionary genetics, etc.
- In the coming future, important decisions related to bioinformatics on drug discovery will be made by individuals who not only understand the biology but can also use the bioinformatics tools and the knowledge they release to develop hypotheses and identify quality targets
Europe Bioinformatics Market Dynamics
Drivers
- Wide Product Portfolio Offered by Major Players
The advancement and growing research in the field of bioinformatics offered by major players allows them to develop and launch new products in the market. The different sequencing instruments are in the bioinformatics market.
For instance,
- The product portfolio of QIAGEN consists of bioinformatics products and services such as custom automated workflows, curation services, and scalable bioinformatics services
- BGI consists of sequencing services and mass spectrometry services such as proteomics, metabolomics, multi-omics, and biologics characterization
- The gene synthesis and molecular biology by Eurofins Scientific provides gene synthesis and Molecular Biology products
Hence, the product portfolio for the companies working in this market is vast, due to which the companies' revenue has increased continuously from the past recent revenue year. This is expected to propel the market size and is expected to act as a driver for the bioinformatics market in the forecast period
- Growing Need for Bioinformatics
As genomics-focused pharmacology continues to play a greater role in the treatment of various chronic diseases, especially cancer, next-generation sequencing (NGS) is evolving as a powerful tool for providing a deeper and more precise insight into the molecular underpinnings of individual tumors and specific receptors. Informatics is essential in biological research involving biologists who learn programming, computer programmers, mathematicians, or database managers who learn the foundations of biology
For instance,
- NGS has also been explored for comprehensive profiling of pharmacogenetics with relevance to drug Pharmacokinetics and Pharmacodynamics. An initial report in 2017 suggested that this technology may represent a reliable and efficient tool for discovering both common and rare genetic variations in these genes
- Bioinformatics is the application of tools of computation and analysis to the capture and interpretation of biological data
Bioinformatics has the power to transform oncology's outlook and push forward the vision of precision medicine by adopting genome-focused pharmacology to treat chronic diseases. Thus, the increase in the adoption of genome-focused pharmacology for chronic disease treatment acts as a driver for the bioinformatics market.
Opportunities
- Use Of Bioinformatics In Personalized Medicine
The growth curve for bioinformatics market clinical applications is following an upward trend as established applications are gaining momentum and new ones are finding a foothold. Product development in the past years has helped the market size to grow. This also shows the support of the regulatory agency for allowing these products in the market.
- Strategic Initiatives by Market Players
Bioinformatics delivers purposeful biological information, as it is a part of life science dealing with the comprehension and planning of genomes. A genome is the complex arrangement of genetic sets present in a cell or a whole living being. Personalized medicine is a combinatorial way to deal with individual-specific health care. The patient-specific medication development advanced through bioinformatics tools.
For instance-
- In December 2020, Quest Diagnostics Incorporated invested in Structural Bioinformatics, A Leader in Computational Proteomics and Structural Pharmacogenomics. The investment resulted in the joint development of a series of database modules of the novel, structurally variant proteins and market these products directly to the pharmaceutical and biotechnology industry for use in the development of personalized medicine
- In 2019, BGI announced that Flow Pharma had selected BGI (A subsidiary of BGI Group) for developing the use of NSG in Drug Development
Hence the growing prevalence of chronic disease and increased drug-resistance issues in traditional medication have generated the demand for increasing bioinformatics in drug development. This is expected to be one of the major factors expected to drive the market growth in the forecast period.
Restraints/Challenges
- Difficulty In Clinical Bioinformatics Analysis
The largely untapped potential of big data analytics is a feed buzz that has been exacerbated by the production of many next-generation data sets that seek to answer long-standing questions about the biology of human diseases. Although these approaches are likely to be a powerful means of unveiling new biological insights, several significant challenges currently hinder efforts to harness the power of big data. Typical challenges include the effective assessment of analytical software tools, the speeding up of the overall process using hybrid parallel computing (HPC) parallelization and acceleration technology, the advancement of automation strategies, data storage alternatives, and, finally, the development of new methods for the full utilization of results across multiple experimental conditions.
Considering the uncertainty about the importance of certain bioinformatics tests, they cannot be used as a replacement for careful clinical evaluation. This may greatly enhance the analysis of gene variants by facilitating data sharing and straightforward exchange of selected variants associated with the phenotype. Thus, the difficulty in clinical bioinformatics is expected to restrain the market growth.
- Cyber Security Concerns in Bioinformatics
Era software is known to contain vulnerabilities caused by imperfect code and misconfiguration. NGS-related software used to operate sequencing and laboratory equipment or carry out bioinformatics analyzes is no exception. Software vulnerabilities are exploited to gain unauthorized access to computer systems or networks, leak data, crash or otherwise disrupt various services.
However, the increasing computerization of DNA technology and biotechnology raises new bio-cyber security concerns. Vulnerabilities typically associated with traditional computer systems -- like the processing of untrusted input, side-channel leaks, poor authentication, falsified data, and vulnerabilities in cyber-physical systems -- now exist in biotechnology. The emerging bio-cyber security threats have threatened the DNA-Information Systems in bioinformatics.
For instance;
- In 2020, The REvil or Sodinokibi ransomware group will take the credit for hacking and stealing 1 Terabyte (TB) of data from 10x Genomics which is for COVID-19 research
- In 2018, Genomics England shifted genetic blueprint data for its 100,000 Genomes Project after being targeted by cyber-attacks from foreign parties. This allows the breach of data and can lead to misuse of individual genome
COVID-19 Impact on the Europe Bioinformatics Market
During the pandemic, the Europe bioinformatics sector is one that focuses on using a combination of biology and information technology. At the heart of the industry is biological data, which is analyzed and transformed using IT techniques. Bioinformatics has always had huge potential when it comes to providing essential support to many areas of scientific research. The tools that Bioinformatics can provide allow scientists to get to grips with larger data sets and to mine and analyze them to discover crucial information that could lead to key discoveries. Genetics and genomes have been the primary focus of Bioinformatics in recent years, including comparative genomics, DNA microarrays, and functional genomics.
Recent 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 perform diagnostic testing and clinical research on a single instrument. The launch of the instrument resulted in the addition of a new product in the product range and the distribution of the NGS instrument, which is expected to increase the product revenue.
Europe Bioinformatics Market Scope
Europe bioinformatics market is segmented on the basis of six segments: type, sector, application, purchase mode, genomics, and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Knowledge Management Tools
- Bioinformatics Software
- Services
On the basis of type, the Europe bioinformatics market is segmented into knowledge management tools, bioinformatics software, and services.
Sector
- Medical biotechnology
- Academics
- Animal Biotechnology
- Agricultural biotechnology
- Environmental Biotechnology
- Forensic biotechnology
- Others
On the basis of sector, the Europe bioinformatics market is segmented into 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
- Others
On the basis of application, the Europe bioinformatics market is segmented into genomics and drug development, proteomics, evolutionary studies, agricultural studies, veterinary science, metabolomics, transcriptomics, and others.
Purchase Mode
- Group Purchase
- Individual Purchase
On the basis of purchase mode, the Europe bioinformatics market is segmented into group purchases and individual purchases.
Method
- Genomics
- Proteomics
On the basis of method, the Europe bioinformatics market is segmented into genomics and proteomics.
End User
- Research and Academic Institutes
- Clinical Research Organization
- Biotech and Pharmaceutical Companies
- Research Laboratories
- Hospital
- Others
On the basis of end-user, the Europe bioinformatics market is segmented into research and academic institutes, clinical research organizations, biotech and pharmaceutical companies, research laboratories, hospitals, and others.
Europe Bioinformatics Market Regional Analysis/Insights
Europe bioinformatics market is analyzed, and market size insights and trends are provided by regions, type, sector, application, purchase mode, genomics, and end-user. as referenced above.
The countries covered in the Europe Bioinformatics market report are Germany, France, U.K., Italy, Russia, Spain, Switzerland, Netherlands, Belgium, Turkey, Rest of Europe.
Germany is expected to dominate the market due to rise in awareness about bioinformatics sequencing and rise in count of collaborations between companies and bioinformatics research institutes in Germany are expected to drive the market growth.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands impact sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe Bioinformatics Market Share Analysis
The Europe bioinformatics market competitive landscape provides details of the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, the Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Europe Bioinformatics market.
Some of the major players operating in the Europe Bioinformatics market are Thermo Fisher Scientific Inc., Illumina, Inc., Agilent Technologies, Inc., QIAGEN, SOPHiA GENETICS., BGI, Eurofins Scientific, Waters Corporation, Dassault Systèmes, Bayer AG, PerkinElmer Inc., Seven Bridges Genomics, Quest Diagnostics Incorporated., AstridBio Technologies Inc., BioBam and GenoFAB, Inc.
SKU-