Global Bioinformatics Market Size By Technology (Knowledge Management Tools, Bioinformatics Platforms), By Application (Metabolomics, Molecular Phylogenetics), By Geographic Scope And Forecast

Bioinformatics Market Size And Forecast

Bioinformatics Market size was valued at USD 10.22 Billion in 2022 and is projected to reach USD 39.74 Billion by 2030, growing at a CAGR of 16.29% from 2023 to 2030. Due to an increase in the demand for combined data, an increase in the demand for nucleic acid and protein sequencing due to a drop in sequencing costs, and an increase in the applications of proteomics and genomics, the Global Bioinformatics Market is predicted to experience significant growth soon. In addition, drug discovery & development and enterprises from government & private organizations are probable to boost the market growth during the estimated period. The Global Bioinformatics Market report provides a holistic evaluation of the market. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.

Global Bioinformatics Market Definition

Bioinformatics is a grouping of biology and information technology, which links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, with biomedicine. It uses software tools for database formation, data management, data warehousing, data mining, and others. Mining such data leads to technical discoveries, this is used in the study of genetics & genomes. Numerous bioinformatics implements are presented in the market. They are characterized as protein functional & analysis tools, homology & similarity tools, sequence analysis tools, and miscellaneous tools.

The field covers many innovative and specialized areas of life such as structural genomics, efficient genomics, DNA microarrays, comparative genomics, and medical information. Hence, these aforesaid issues increase the Global Bioinformatics Market share. Conversely, the increase in the need for combined solutions & systems, integration of machine learning & AI in healthcare, and software companies investing in the growth of bioinformatics solutions are predictable to offer remunerative market opportunities to bioinformatics solutions developers.

Global Bioinformatics Market Overview

The growth of the worldwide Bioinformatics Market is largely attributable to data and technological advancements in the field, which have improved the standard of these services. To understand the connection between genetics and diseases, many nations are now investing in their national population sequencing initiatives. Globally, numerous public and commercial institutions are steadily making investments in the field of bioinformatics. With the advent of cutting-edge NGS technology, there is an increasing demand for efficient bioinformatics tools that are speedy and accurate.

Bioinformaticians make up a small majority of the scientists involved in the experimental inquiry. As a result, having access to user-friendly tools is essential for using bioinformatics platforms. Because many bioinformatics programs lack an appropriate user-friendly interface, they frequently require significant computer knowledge. In the upcoming years, it is anticipated that the rising significance of these emerging economies in terms of R&D and investments from international companies will offer a positive outlook-as well as opportunities-for the growth of genomics, metabolomics, precision medicine, drug discovery, and other markets.

A significant amount of biological data has been generated by the quick development of next-generation sequencing (NGS) technology, and this data volume is growing as NGS is used more frequently. Data analysis is essential because there is still a ton of material to be investigated in genomic analysis. As a result, the data that is left over after bioinformatics analysis is extremely valuable and can be used again. The challenges of data management in bioinformatics are not sufficiently addressed by the available solutions. However, a lack of skilled personnel, common data formats, and the absence of user-friendly tools at cheaper prices are projected to hamper the market development during the forecast period.

Global Bioinformatics Market: Segmentation Analysis

The Global Bioinformatics Market is segmented on the basis of Technology, Application, and Geography.

Bioinformatics Market, By Technology

• Knowledge Management Tools
• Bioinformatics Platforms
• Bioinformatics Services

Based on Technology, the market is segmented into Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. The bioinformatics platforms sector was the main income and is anticipated to endure this trend during the projected period, owing to a rise in platform applications and the need for better tools in drug development. An increase in platform application is credited to a surge in need from the life science firm for the identification and alteration of structures. This, in chance, would help in the drug scheming process and assessment of their therapeutic effects. Furthermore, competence and safety in drug development and discovery lead to an upsurge in the need for better tools in drug development. Thus, is expected to drive the Bioinformatics Market size in the upcoming.

Bioinformatics Market, By Application

• Metabolomics
• Molecular phylogenetics
• Transcriptomics
• Proteomics
• Chemoinformatics & drug design
• Genomics
• Others

Based on Application, the market is segmented into Metabolomics, Molecular phylogenetics, Transcriptomics, Proteomics, Chemoinformatics & drug design, Genomics, and Others. The transcriptomics segment is predicted to exhibit the highest growth during the forecast period, owing to an increase in favor of companion diagnostics and personalized medicines. Moreover, novel gene sequencing, uninterrupted detection of biomarkers, and universal acceptance of transcriptomics technology are expected to drive the Bioinformatics Market growth.

Bioinformatics Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Regional Analysis, The Global Bioinformatics Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market, accounting for the highest share, and is anticipated to continue this trend throughout the forecast period. This is recognized as to surge in the adoption of advanced technology and growth in demand for better bioinformatics tools, which are required in the drug discovery and development process. The market in LAMEA is expected to grow at the highest revenue during the forecast period, owing to advancements in the field of genomics and proteomics, producing a massive volume of statistics, which is to be understood and accomplished.

Key Players

• The "Global Bioinformatics Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Agilent Technologies, Inc., Biomax Informatics AG, DNAnexus, Inc., Genedata AG, Intrexon Bioinformatics Germany GmbH, Illumina Inc., Perkinelmer Inc., Qiagen N.V., Seven Bridges Genomics Inc., Thermo Fisher Scientific, Inc.
• The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In September 2021, Agilent Technologies Inc. has announced an agreement of a global distribution with Visiopharm, which will allow Agilent to co-market Visiopharm's portfolio of CE-IVD obvious AI-driven precision pathology software in addition to its portfolio of automated pathology staining solutions. This partnership, which initially focuses on Europe, represents Agilent's entry into the growing digital pathology sector and improves the relationship between the two businesses by enhancing the possibility of their future cooperation.
• In April 2022, Logica, a drug resolution driven by artificial intelligence (AI) that directly turns clients' biological insights into improved preclinical assets, was introduced by Charles River and Valo Health. Logica makes use of Charles River's leading preclinical experience and Valo's AI-powered Opal Computational Platform to provide clients with transformed drug development with a single integrated contribution that effortlessly converts scores to candidate submissions.
• In July 2021, the debut of nRavel, a unique AI discovery platform for oncology and precision medicine, was announced by Indivumed GmbH. The platform integrates IndivuType's rich multi-omics data with a comprehensive set of advanced analytics capabilities, powerful automated machine learning algorithms, and attractive disease models.