The Bioinformatics Market size is expected to grow from USD 15.16 billion in 2022 registering a CAGR of 7.94% during the forecast period 2022-2030.
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Bioinformatics is the application of computational technology to gather, store, analyze, and integrate biological data. This data is used to procure information and is applied to gene-based drug discovery and development, protein structure studies, and the determination of the therapeutic efficacy of drugs.
The growth factors for the bioinformatics market include the rising demand for nucleic acid and protein sequencing, rising initiatives from private and government organizations, the accelerating growth of proteomics and genomics, and rising research on molecular biology and drug discovery. Owing to the above factors, the global bioinformatics market is expected to experience rapid growth during the forecast period.
The future of bioinformatics will include single-molecule protein sequencing analysis. Keeping with the theme of understanding things on a granular level, single-molecule protein sequencing analysis is a possible new trend to watch out for in bioinformatics. Furthermore, recent AI-related developments in bioinformatics include the determination of 3D shapes of proteins, the identification of disease-specific biomarkers, and the modification of existing drugs to create COVID-19 therapeutics. All these trends are expected to fuel the growth of the studied market.
Segmentation:
The Bioinformatics Market is Segmented
By Products and Services
By Bioinformatics Services
By Applications
Geography
The report offers the value (in USD million) for the above segments.
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Drivers:
Increasing Demand for Nucleic Acid and Protein Sequencing and the Growth of Proteomics and Genomics
Bioinformatics plays an important role in all aspects of protein analysis, including sequence analysis, structure analysis, and evolution analysis. The next-generation DNA and RNA sequencing (NGS) have revolutionized the study of biology. The ability to sequence DNA and RNA in many different cellular contexts has led to novel discoveries about the underlying causes of genetic diseases, organismal development, and tracing cell lineages, among innumerable others.
Proteomics is the complete evaluation of the function and structure of proteins to understand an organism’s nature. Thus, combining the proteomics approach with genomics and bioinformatics will provide an understanding of the information on biological systems and their disease alteration. Thus, the above-mentioned factors are expected to drive the growth of the studied market.
Increasing Research on Molecular Biology and Drug Discovery
Bioinformatics approaches are becoming ever more essential in translational drug discovery both in academia and within the pharmaceutical industry. Computational exploitation of the increasing volumes of data generated during all phases of drug discovery is enabling key challenges of the process to be addressed. Thus, the increasing research on molecular biology is fueling the growth of the studied market.
Restraints:
Lack of Well-defined Standards and Common Data Formats for Integration of Data
The lack of well-defined standards and common data formats for the integration of data and concerns about data complexity, as well as the shortage of user-friendly tools, are likely to hamper market growth over the forecast period.
The COVID-19 pandemic impacted the growth of the studied market growth. Sequencing and data analysis were termed useful tools for the characterization and detection of viruses. Thus, during the initial months of the pandemic, few studies came to a halt but in the second half of 2020, the market witnessed significant growth. Also, as per the analysis, the market is expected to follow the same trend over the post-pandemic phase due to emerging strains of the SARS-CoV-2 virus and an increase in research and development activities. For instance, in November 2021, Illumina donated sequencing consumables and cloud-based bioinformatics to Canadian COVID-19 projects. The donations were to support the HostSeq and VirusSeq projects of Canada's COVID-19 Genomics Network, or CanCoGen. Thus, such initiatives by the market players are anticipated to support the market's growth during the forecast period.
Segmental Analysis:
Sequence Analysis Platform Segment is Expected to Hold a Significant Share Over the Forecast Period
In bioinformatics, sequence analysis is the process of subjecting a DNA, RNA, or peptide sequence to any of a wide range of analytical methods to understand its features, function, structure, or evolution. The advancements in next-generation sequencing (NGS) technologies regarding throughput, read length, and accuracy had a major impact on microbiome (genetic) research. These advancements have significantly improved 16S rRNA amplicon sequencing.
Personalized Medicine Segment is Expected to Witness Significant growth Over the Forecast Period
Personalized medicine is a sort of treatment that focuses on each patient’s unique physiological characteristics. Personalized medicine offers a big potential in leading the healthcare business with significant changes and adaptations, which focus an illness understanding and management using advanced analytics, customized medicines, patient data, and other options. By analyzing a person's genomic data, bioinformaticians can identify specific mutations that may be driving the development of a particular disease. This information can then be used to tailor treatments specifically for that individual.
North America Region is Expected to Witness significant growth over the Forecast Period
The North American region is leading the market due to factors such as the rise in the number of research activities pertaining to nucleic acids and genetic engineering, the increase in the budget for novel drug discovery using proteomic and metagenomic approaches, and growing awareness about biological data. The increasing innovations in molecular biology procedures, the high adoption rate of new healthcare technologies, and the high prevalence of genomic and proteomic research studies are the primary drivers for the bioinformatics market in the region.
Furthermore, in April 2022, ATCC announced an agreement with Qiagen to provide them with sequencing data from its collection of animal and human cell lines and biological materials. Qiagen is expected to establish a database from the information to develop and deliver high-value digital biology content for the biotechnology and pharmaceutical industries, enabling the use of authenticated biological data sets to uncover new disease pathways and discover novel therapeutic targets. Such developments in the United States region are adding to the growth of the studied market.
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Competitive Landscape:
The bioinformatics market is competitive with the presence of several market players. In terms of market share, a few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new products. The major global players in the bioinformatics market include:
Recent Developments:
1) In June 2022, California's biotechnology research startup LatchBio launched an end-to-end bioinformatics platform for handling big biotech data to accelerate scientific discovery.
2) In March 2022, ARUP launched Rio, a bioinformatics pipeline and analytics platform for better, faster next-generation sequencing test results.
Q1. How big is the Bioinformatics Market ?
The Bioinformatics Market size is expected to grow from USD 15.16 billion in 2022 registering a CAGR of 7.94% during the forecast period 2022-2030.
Q2. What is the market size of the Bioinformatics Market ?
Bioinformatics Market is expected to grow at a CAGR of 7.94%.
Q3. What are the factors on which the Bioinformatics Market research is based on ?
By Products & Services, By Bioinformatics Services, By Applications and Geography are the factors on which the Bioinformatics Market research is based.
Q4. Which Region is expected to hold the highest Market share ?
North American region is expected to hold the highest Market share.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
