Bioinformatics - Market Insights, Competitive Landscape, and Market Forecast - 2030

Bioinformatics Market By Type (Bioinformatics Products, Bioinformatics Services), By Bioinformatics Products (Knowledge Management Tools, Bioinformatics Platforms), By Application (Genomics, Proteomics, Transcriptomics, Others), By Sector (Medical Bioinformatics, Animal Bioinformatics, Agriculture Bioinformatics, Others), by geography is expected to grow at a steady CAGR forecast till 2030 owing to rising demand for both nucleic acid and protein sequencing and rising need for integrated data

Global Bioinformatics Market was valued at USD 20.12 Billion in 2023, growing at a CAGR of 15.14% during the forecast period from 2024 to 2030 to reach USD 46.88 Billion by 2030. The Bioinformatics market is witnessing positive growth owing to the rising demand for both nucleic acid and protein sequencing, rising need for integrated data, technological innovation in product development, thereby contributing to the growth of the Bioinformatics market during the forecast period from 2024-2030.

Bioinformatics Market Dynamics:

The Bioinformatics market is witnessing a growth in product demand owing to various reasons. The rising demand for both nucleic acid and protein sequencing is the key driving factor for the Bioinformatics market.

Protein sequencing is the practical process of determining the amino acid sequence of all or parts of a protein or peptide. Protein sequencing is the process that helps in the identification of protein or characterizing the post-translational modifications.

DNA sequencing is the process for determining the nucleic acid sequence-the order of nucleotides in the DNA. It includes different methods or technology for determining the order of the four bases, such as adenine, guanine, cytosine, and thymine.

The introduction of various tools such as DNAnexus Apollo and DNAnexus Titan by DNANEXUS INC. helps in accelerating the process of precision drug discovery.

Furthermore, the bioinformatics platform also provides precision drug discovery programs by empowering the scientists and clinicians for exploring and analyzing both omics and clinical data together, in a single environment based on a robust, scalable, cloud platform. These platforms will further contribute to the industry's growth.

Furthermore, the need for disease management, prevention, and treatment coupled with developments in bioinformatics augments the market growth.

Most importantly, the current COVID-19 pandemic and demand for newer treatments and vaccines will also increase the demand for nucleic acid and protein sequencing.

Therefore, due to the rising demand for nucleic acid and protein sequencing, there will be an increase in the demand for bioinformatics, thereby fueling the market growth for Bioinformatics.

However, higher costs associated with the bioinformatics software and services and dearth of skilled professionals may be certain limiting factors of the Bioinformatics market growth.

The unprecedented COVID-19 outbreak had a profound impact on the market for Bioinformatics. Most importantly, the current COVID-19 pandemic and the rising demand for newer treatments and vaccines help in providing better opportunities for the global bioinformatics market. Bioinformatics has always had huge potential when it comes to providing essential support to several areas of scientific research. One of the major focus areas for every country during COVID-19 has been to study and halt the progress of the virus.

Bioinformatics Market Segment Analysis:

Bioinformatics Market By Type (Bioinformatics Products, Bioinformatics Services), By Bioinformatics Products (Knowledge Management Tools, Bioinformatics Platforms), By Application (Genomics, Proteomics, Transcriptomics, Others), By Sector (Medical Bioinformatics, Animal Bioinformatics, Agriculture Bioinformatics, Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the application segment of the Bioinformatics market, Genomics is estimated to hold a higher share in the Bioinformatics market during the forecast period (2024-2030).

The growth can be attributed to the rising government bodies and private organizations across the globe that are readily investing in bioinformatics, rising use of bioinformatics for a variety of applications including determination of gene and protein functions, establishing revolutionary relationships and prediction of the three-dimensional shapes of the proteins.

Genomic technologies are helping to generate an extraordinary amount of information, unprecedented in the history of biology. Bioinformatics tends to address the specific needs in data acquisition, storage, analysis, and integration that genomics research generates.

The cost of genome sequencing has also come down, which is made possible due to a variety of bioinformatics tools and there has been an incessant rise in the speed of genome sequencing.

For instance, the Human Genome Project that had begun in the year 1990, and during January 2003, 1.5 billion bases were sequenced, owing to an increase in the usage of bioinformatics tools.

Hence, all the aforementioned factors will contribute to the growth of the genomics application in the Bioinformatics market.

North America is expected to dominate the overall Bioinformatics Market:

Among all the regions, North America is expected to account for the largest share in the Global Bioinformatics market. Growing demand for advanced technologies in Bioinformatics, rising prevalence of the COVID-19 pandemic, higher requirement of personalized medicine in this region, and the launch of new and innovative bioinformatics software will boost the growth of the bioinformatics market.

For instance, the rising cases of COVID 19 will lead to an increase in the growth of the bioinformatics market. For instance, as per the Centers for Disease Control and Prevention 2022, in the year 2023, the United States had reported 79 million COVID-19 cases since the pandemic began. Also, the deaths that were related to COVID-19 in the United States had topped 9,60,000.

Also, the launch of various new bioinformatics platforms in the United States will aid in providing better and faster next-generation sequencing test results. For instance, on March 07, 2022, Arup had launched the new bioinformatics platform, Rio, a new world-class bioinformatics pipeline and analytics platform. It amplifies the ARUP's existing cloud computing capabilities to move data more efficiently and with greater accuracy to speed targeted test results to clinicians for analysis and improved medical decision-making for patients.

Therefore, all the above-mentioned factors are anticipated to propel the market for Bioinformatics in the United States region.

Bioinformatics Market Key Players:

Some of the key market players operating in the Bioinformatics market include Agilent Technologies, Biomax Informatics AG, DNANEXUS, INC., Thermo Fisher Scientific, Inc., Eurofins Scientific, QIAGEN N.V., Illumina Inc., NeoGenomics Laboratories, Rosalind Inc., Perkin Elmer, Inc., GENEWIZ, BGI Corporation, Waters Corporation, DNASTAR, Fios Genomics, Partek Incorporated, SOPHiA Genetics, Source Bioscience, Biomax Informatics AG, Seven Bridges Genomics Inc., and others.

Recent Developmental Activities in the Bioinformatics Market:

On March 02, 2022, BISC Global, a Bioinformatics, Biostatistics, and ML/AI consulting company is partnering with cropSeq bioinformatics, a company specialized in AgriGenomics consulting, to address the most pressing challenges in data-driven agriculture and plant research.

In February 2022, Bruker Corporation announced its TIMS DIA-NN software for the high-throughput, deep and unbiased 4D proteomics workflow.

Key Takeaways from the Bioinformatics Market Report Study

• Market size analysis for current Bioinformatics market size (2023), and market forecast for 5 years (2024-2030).
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Bioinformatics market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years.
• Key companies dominating the global Bioinformatics market.
• Various opportunities available for the other competitor in the Bioinformatics market space.
• What are the top-performing segments in 2023? How these segments will perform in 2026.
• Which is the top-performing regions and countries in the current Bioinformatics market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Bioinformatics market growth in the coming future?

Target Audience who can be benefited from this Bioinformatics Market Report Study

• Bioinformatics products providers
• Research organizations and consulting companies
• Bioinformatics-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Bioinformatics
• Various End-users who want to know more about the Bioinformatics market and latest technological developments in the Bioinformatics market.

Frequently Asked Questions for the Bioinformatics Market:

1. What is Bioinformatics?

Bioinformatics is an interdisciplinary field that develops methods and software tools for understanding biological data, in particular when the data sets are large and complex.

2. What is the market for Global Bioinformatics?

Global Bioinformatics Market was valued at USD 20.12 Billion in 2023, growing at a CAGR of 15.14% during the forecast period from 2024 to 2030 to reach USD 46.88 Billion by 2030.

3. What are the drivers for Global Bioinformatics Market?

The Bioinformatics market is witnessing a positive market growth owing to the rising demand for both nucleic acid and protein sequencing, rising need for integrated data, technological innovation in product development, thereby contributing to the growth of the Bioinformatics market.

4. Who are the key players operating in the Global Bioinformatics Market?

Some of the key market players operating in the Bioinformatics market include Agilent Technologies, Biomax Informatics AG, DNANEXUS, INC., Thermo Fisher Scientific, Inc., Eurofins Scientific, QIAGEN N.V., Illumina Inc., NeoGenomics Laboratories, Rosalind Inc., Perkin Elmer, Inc., GENEWIZ, BGI Corporation, Waters Corporation, DNASTAR, Fios Genomics, Partek Incorporated, SOPHiA Genetics, Source Bioscience, Biomax Informatics AG, Seven Bridges Genomics Inc., and others.

5. Which region has the highest share in Bioinformatics Market?

North America is expected to hold the highest share in the revenue in the Bioinformatics market during the forecast period. Growing demand for advanced technologies in Bioinformatics, rising prevalence of the COVID-19 pandemic, higher requirement of personalized medicine in this region, and the launch of new and innovative bioinformatics software will boost the growth of the bioinformatics market in this region.