Bioinformatics Market Anticipates Steady 12.98% CAGR Through 2030

Bioinformatics Market Snapshot

“The Bioinformatics Market is estimated to increase at a CAGR 12 .98% from $ 13.56 Billion in 2023 to $ 27.56 Billion by 2030.”

Bioinformatics is a scientific subdiscipline that utilizes computer technology to collect, store, analyze, and share biological data, including amino acid and DNA sequences. These databases are utilized by scientists and physicians to enhance our understanding of health and illness, and in some cases, as part of medical care.

Bioinformatics is a field that focuses on data analysis in the era of information and the Internet. It has significantly reduced the barrier of accessing information, but the challenge lies in understanding and interpreting the gathered data.

Computer-based methods are the standard for handling vast data sets, including human genomes. The goal of bioinformatics research involving human genomes is to gain useful knowledge about human biology and health, despite its complexity.

Traditional bioinformatics data includes DNA sequences, protein amino acid sequences, and complex structures. Proteomics studies protein distribution in cells, interactomics studies protein-nucleic acid interactions, and metabolomics studies small-molecule transformations in cells. "-omics" data streams aim to provide precise data for specific cell types and identify patterns of change. The goal is to obtain thorough and precise data for each scenario.

The rapid growth of biological data-generation has accelerated bioinformatics, with genome sequencing techniques having a significant impact. In a decade, the nucleic acid sequence archives now contain over 95 human genomes, compared to 1999's 3.5 billion.

The U.S. National Institutes of Health aims to reduce the cost of sequencing a human genome to $1,000, making DNA sequencing more accessible and useful for U.S. hospitals and clinics.

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Bioinformatics has various applications, including data analysis, data visualization, and data analysis.

• In Gene therapy.
• In Evolutionary studies.
• In Microbial applications.
• In Prediction of Protein Structure.
• For the Storage and Retrieval of Data.
• In the field of medicine, used in the discovery of new drugs.
• In Biometrical Analysis for identification and access control for improvising crop management, crop production and pest control.

Market Trends

The Bioinformatics market is experiencing several key trends, including:

Advances in pharmacogenomics and systems biology have revolutionized personalized medicine, transitioning from disease-centered to system-based, integrative, and human-centered treatments, presenting new commercial opportunities.

The Colorado Center for Personalized Medicine (CCPM) and Summit Biolabs Inc. are leading the way in collaborating with governments, academic institutions, and medical professionals to provide efficient treatments in the field of personalized medicine.

Growth Drivers

• The pharmaceutical sector is experiencing significant growth.
• various benefits of bioinformatics.

The global bioinformatics industry is growing due to increased investments in information technology and biology sectors, and government efforts to expand the business. Bioinformatics tools and software aim to reduce costs associated with drug development, fostering industry expansion.

However, developing economies lack resources and experienced personnel, and the adoption of substitute instruments may impede growth. Therefore, addressing these challenges is crucial for the industry's success.

The global bioinformatics market is thriving due to various strategies, including partnerships and acquisitions, to offer innovative products and maintain market positions. Major industry players are working on a next-generation sequencing assay using DNA and RNA extracted from tumors to evaluate cancer genetic alterations.

The use of advanced bioinformatics tools and software, such as AUTODOCK, BALL, and RasMol, for precise biomarker discovery and contamination sensing in drug development is expected to drive market growth.

Restraints

necessity of complex systems for effectively managing bioinformatics.

Next-generation sequencing technologies have heightened the need for user-friendly, fast, and accurate bioinformatics tools, as most investigators aren't bioinformaticians. Many bioinformatics applications lack an appropriate user interface, necessitating significant computer skills for efficient use.

Genomic instruments are expensive due to their sophisticated features and functionalities, ranging from USD 10 to USD 20 million. This high capital cost is particularly high for research facilities and pharmaceutical businesses, as small and medium-sized facilities cannot afford to invest in multiple genomic devices.

Bioinformatics Market Segment Analysis

Sequence analysis in bioinformatics involves applying various analytical techniques to DNA, RNA, or peptide sequences to understand their characteristics, functions, structure, or evolutionary history. Advancements in next-generation sequencing technologies have significantly impacted genetic research, particularly in 16S rRNA amplicon sequencing.

Commercially available technologies with standard and customized library preparation techniques, such as Roche 454 GS FLX Titanium, Ion Torrent PGM, and Illumina MiSeq, can reduce sequencing mistakes by eliminating chimeras and other sequencing artifacts from 16S rRNA amplicon sequences.

Singular Genomics Systems Inc. recently released the G4, the world's most powerful benchtop sequencer, in December 2022. This next-generation sequencing platform, designed with advanced engineering and high-performance chemistry, offers power, speed, accuracy, and flexibility for various applications, including immunology and cancer research, making it a valuable tool in the industry.

Competitive Landscape of the Bioinformatics Market Analysis

• Thermo Fisher Scientific Inc.
• Eurofins Scientific
• QIAGEN N.V.
• Agilent Technologies Inc.
• Illumina Inc.
• Waters Corporation
• NeoGenomics Laboratories
• Perkin Elmer Inc.
• Fios Genomics
• Source BioScience

New Developments in Bioinformatics Market

On April 13, 2023, Agilent Technologies Inc., which delivers complete scientific solutions, helping customers achieve superior outcomes in their labs, clinics, and business, announced the launch of the Agilent SureSelect Cancer CGP Assay designed for somatic variant profiling for a broad range of solid tumor types. The pan-cancer assay design is based on an NGS panel comprising 679 genes globally curated from leading cancer databases and in partnership with key clinical cancer researchers. The assay workflow is efficient, automatable, and flexible, making tumor molecular profiling more accessible to the broad clinical research community.

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.

In March 2022, ARUP launched Rio, a bioinformatics pipeline and analytics platform for better, faster next-generation sequencing test results.

May 2022, Bruker Corporation and TOFWERK AG established a collaborative relationship for high-speed, ultra-sensitive applied and industrial analytical solutions, together with a Bruker minority investment in TOWERK. The relationship serves as a foundation for technological partnerships to enhance instrument capabilities and for the creation of novel analytical applications where high speed and ultra-sensitivity matter.

In July 2021, the National Institute of Technology, Rourkela (NIT-R), India, launched its Center for Bioinformatics and Computational Biology (CBCB), which helps develop novel disease biomarkers and therapeutic strategies using big data analysis. Thus, the launch of such centers using computational biology in developing countries is boosting market growth.

Regional Analysis of Global Bioinformatics Industry

The North American bioinformatics market is gaining momentum due to increased funding for drug discovery using proteomic and metagenomic approaches, growing biological data awareness, and research in genetic engineering and nucleic acids.

The region's growth is driven by advancements in molecular biology techniques, rapid use of new medical technologies, and high frequency of proteomic and genomic research projects.

The United States supports research in proteomics structure prediction, genomics, and drug development through government agencies like the NIH and private organizations like the Gates and Melinda Foundation.

These organizations fund universities and research institutes to develop bioinformatics tools to handle large amounts of data for disease prognosis and treatment options. The US generates a significant amount of genomic and proteomic data, requiring substantial funding for database construction and management.

The bioinformatics market in Asia-Pacific is projected to grow at the fastest CAGR, despite slow research progress in the region during the projection period.

Europe is expected to grow rapidly in the bioinformatics market, dominated by the UK, Italy, and France. This growth is driven by increased healthcare industry investments and the adoption of advanced technologies like artificial intelligence and the internet of things. Market participants are leveraging acquisitions and partnerships to expand their presence in the region.

Segments Covered in the Bioinformatics Market Report

Segment by Product and Services

• Knowledge Management Tools
• Bioinformatics Platform
• and Bioinformatics Services

Segment by Application

• Microbial Genome
• Gene Engineering
• Drug Development
• Personalized Medicine
• Omics
• Others

Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Frequently Asked Questions

What is the meaning of bioinformatics?

Bioinformatics is an interdisciplinary science field that helps to understand complex biological data. It is a combination of both biology and information technology.

What are some applications of bioinformatics?

Bioinformatics includes biological studies that can be used in the field of genomics and evolutionary studies. In the field of medicine, it can be used in the discovery of new drugs.

What is the expected growth rate of the Bioinformatics market over the next 7 years?

The Bioinformatics Market is estimated to increase at a CAGR 12 .98% from $ 13.56 Billion in 2023 to $ 27.56 Billion by 2030.

Who are the major players in the Bioinformatics market and what is their market share?

Thermo Fisher Scientific Inc., Eurofins Scientific, QIAGEN N.V., Agilent Technologies Inc., Illumina Inc., Waters Corporation, NeoGenomics Laboratories, Perkin Elmer Inc., Fios Genomics, and Source BioScience, are prominent players operating and dominating in the market.

Who are the top 3 Bioinformatics Market Key Vendors?

Thermo Fisher Scientific Inc., Eurofins Scientific, QIAGEN N.V, are key players in the Bioinformatics market.

Which geographical areas dominate the worldwide market for Bioinformatics?

North America region are emerging as the top regional markets for Bioinformatics solutions.