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The Bioinformatics Market Size was valued at USD 11.58 billion in 2023 and is expected to reach USD 34.69 billion by 2031, and grow at a CAGR of 14.7% over the forecast period 2024-2031.
The introduction of user friendly and readily available bioinformatics software such as RasMol, AUTODOCK, BALL, Bioclipse in order to provide accurate and efficient analysis of discovery programs that contribute to detection of toxicity during the early stages of drug development is expected to drive the industry growth.
Research conducted by Stanford scientists showed that a DNA sequencing technique could sequence a human genome in about eight hours, according to an article published by Stanford Medicine in January 2022. The demand for genomics and thus the bioinformatics sector can be stimulated by this development. To facilitate research activities in areas such as ageing and cancer, preventive therapy for genetic diseases, bioinformatics data storage and analysis applications are capable of storing a large amount of genomic and proteomic information. This factor is also expected to have a significant impact on the growth of this industry during the forecast period.
DRIVERS
The popularity of personalised medicine is growing.
Spending on research and development in pharmaceuticals and biotechnology is increasing
Increasing funding from the public and private sectors for bioinformatics
In the field of bioinformatics, many governments and private organisations around the world are investing. Technological progress in the field of bioinformatics is a result of these investments, thereby improving the quality of this service. For instance, The European Molecular Biology Laboratory (EMBL), renowned for bioinformatics research, received funding from various organizations including the European Commission, Bill & Melinda Gates Foundation, and among others, for R&D in bioinformatics.
RESTRAINTS
Professionals in Short Supply
Costs of Equipment is high
The need for quick and accurate bioinformatics tools that can be used easily has increased as a result of advances in NGS technology. Bioinformaticians are not necessarily scientists involved in experimental studies. Therefore, for the use of bioinformatics platforms there is a need to provide users with easily accessible user tools. A number of bioinformatics tools are in need of expert computer skills, particularly since they do not have an appropriate user-friendly interface.
OPPORTUNITIES
The integration of machine learning and artificial intelligence (AI) into healthcare has already taken place
With the help of prominent IT companies, solutions are being developed in the field of bioinformatics
Opportunities for growth in emerging markets
Major players in the field of bioinformatics products and services have high growth opportunities in markets such as India, China, Brazil, Russia, Taiwan and South Korea. Major opportunities for growth in genomics, transcriptomics, personalised medicine, drug discovery and clinical diagnostics are expected to arise from the dominance of these emerging economies on research and development spending by global players over the coming years. In addition, because of the lower level of regulations and reduced data requirements, regulatory policies in the Asia Pacific region are more adaptive. Manufacturers will also be forced to focus on emerging markets because of the increasing competition in mature markets.
CHALLENGES
There is a lack of interoperability and multiplatform capacity.
Patient data confidentiality concerns
A large amount of biological data has been generated by the rapid adoption of next generation sequencing technologies, and with the rapid increase in data, the adoption of next generation sequencing technologies is growing. There is a need for data analysis because a lot of information is still missing from genome analysis. Therefore, data from the bioinformatics analysis process are very important and can be reused. The challenges of data management in bioinformatics are not adequately addressed by the existing solutions available on the market.
Russia Ukraine war introduces a geopolitical dimension to global markets, including the area of Genomics Services. The impact depends on a number of factors, with the potential for positive and negative outcomes. Conflicts may interrupt the procurement of essential components, which could have a negative impact on operating continuity if genomics service providers are relying on supply chains that originate in those regions. Due to geopolitical tensions, international collaboration in the field of Genomics research may be hampered and could lead to a lack of exchange of knowledge and resources that are critical for progress on this issue.
Funding for bioinformatics research may be reduced in times of economic downturn, leading to a decreasing number of projects being funded. This has a negative impact on researchers' ability to carry out studies, recruit staff and acquire the required equipment. Infrastructure development, limitation of computational capacity and access to data are also affected by reduced financial support. In the end, these constraints slow down scientific progress and innovation in the field of bioinformatics. In addition, budget constraints may limit access to essential resources such as computing infrastructure or data repositories. In the case of bioinformatics, this limitation may impede research productivity and innovation.
By Product
The largest revenue share is expected to be accounted by the bioinformatics platforms segment over the forecast period. This is due to the increasing need for robust data management and analysis tools of omics data from genomics, proteomes or similar sources. Moreover, there are a number of data analysis techniques available on the bioinformatics platforms, such as data mining, sequencing and gene expression analyses. Moreover, these systems provide functions such as cloud-based data storage and visualisation that facilitate rapid access to large datasets and increase the collaboration of researchers.
By Application
The genomics segment accounted for a significant revenue share in 2023. Growing demand for pharmacogenomics in drug development and sequence screening and the introduction of technological advancements aimed at managing large sets of genomic data are key factors accounting for this large share. Also, due to an increasing need for analysis of genetic data in the fields of personalised medicine, drug discovery and disease diagnostics. The revenue growth of this segment is being driven by the availability of HTS technologies and decreasing costs for genome sequences.
In 2023, North America dominated the market with a revenue share of 43.9%. The large presence of top research organizations, academic institutions and bioinformatics companies in the region has led to a majority of revenues coming from the United States and Canada. The regional market is expected to be boosted by increased investments in research and development of new and innovative technologies related to molecular biology and genome sequencing. For example, in June 2022, LatchBio, California’s biotechnology research startup, launched an end-to-end bioinformatics platform that handles big biotech data to accelerate scientific discovery.
Asia Pacific is expected to be the most rapidly expanding region in the world with a CAGR of 18.4% over the forecast period. It is expected that the capacity to provide outsourcing services in advanced economies will be enhanced by the presence of skilled and experienced bioinformaticians, as well as a strongly developing information technology sector across the region. This region's growth is also projected to be driven by supportive government policies in the coming years.
For example, programs such as the China Precision Medicine Initiative and the China National Genebank, which focus on the use of bioinformatics in the field of genomics research and healthcare, have been launched in China. Similarly, programs have been put in place by countries such as India and South Korea to strengthen their bioinformatics capabilities and foster innovation in this area. The adoption and development of bioinformatics solutions is supported by government funding and aid.
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Some of the major key players of Bioinformatics Market are as follows: Affymetrix, BIOVIA, Agilent Technologies, BioWisdom Ltd, Celera Corporation, IBM, Life Sciences, Illumina Inc., Life Technologies Corporation, 3rd Millennium Inc, and other players.
In October 2022, by combining their strengths in AI based genome interpretation and analytical tools with industry's knowledge, Illumina, Inc. and AstraZeneca have set up a strategic research collaboration to accelerate the discovery of therapeutic targets. In order to identify potential treatments based on human omics insights, the cooperation will assess whether a framework made up of both technologies can enhance target discovery yields and confidence.
In September 2022, Thermo Fisher Scientific became a founding sponsor of the B+Labs incubator in Philadelphia and the Pennsylvania Biotechnology Center (PABC) in Doylestown, Pennsylvania. These initiatives aim to support emerging life science enterprises in accelerating their path to commercialization.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 11.6 Billion |
| Market Size by 2031 | US$ 32.6 Billion |
| CAGR | CAGR of 13.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Bioinformatics Platforms, Bioinformatics Services, Biocontent Management) • By Application (Genomics, Molecular Phylogenetics, Metabolomics, Proteomics, Transcriptomics, Cheminformatics and drug designing, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Affymetrix, BIOVIA, Agilent Technologies, BioWisdom Ltd, Celera Corporation, IBM, Life Sciences, Illumina Inc., Life Technologies Corporation, 3rd Millennium Inc, and other players. |
| DRIVERS | • Growing bioinformatics financing from the public and private sectors • Personalized medicine is becoming more popular. • R&D spending on pharmaceuticals and biotechnology is increasing. |
| OPPORTUNITIES | • Equipment expenditures are high. • Professionals in Short Supply |
Ans: The Bioinformatics Market was valued at USD 11.58 billion in 2023.
Drivers, Restraints, Opportunities, and Challenges are the factors of marketing dynamics Bioinformatics market.
When it comes to giving critical support to various fields of scientific research, bioinformatics has always had tremendous potential. Bioinformatics was put to the test during the COVID-19 pandemic. During the COVID-19 pandemic, one of the key priority areas for each country was to research and understand ways to stop the virus's spread.
Yes, this report covers qualitative and quantitative analysis.
Ans: The expected CAGR of the global Bioinformatics Market during the forecast period is 14.7%.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Bioinformatics Market, By Product
9.1 Introduction
9.2 Trend Analysis
9.3 Bioinformatics Platforms
9.3.1 Sequence Analysis Platforms
9.3.2 Sequence Manipulation Platforms
9.3.3 Sequence Alignment Platforms
9.3.4 Structural and Functional Analysis Platforms
9.3.5 Others
9.4 Bioinformatics Services
9.4.1 Sequencing
9.4.2 Database Management
9.4.3 Data Analysis
9.4.4 Others
9.5 Biocontent Management
9.5.1 Generalized Biocontent
9.5.2 Specialized Biocontent
10. Bioinformatics Market, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Genomics
10.4 Molecular Phylogenetics
10.5 Metabolomics
10.6 Proteomics
10.7 Transcriptomics
10.8 Cheminformatics and drug designing
10.9 Others
11. Regional Analysis
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Poland
11.3.1.2 Romania
11.3.1.3 Hungary
11.3.1.4 Turkey
11.3.1.5 Rest of Eastern Europe
11.3.2 Western Europe
11.3.2.1 Germany
11.3.2.2 France
11.3.2.3 UK
11.3.2.4 Italy
11.3.2.5 Spain
11.3.2.6 Netherlands
11.3.2.7 Switzerland
11.3.2.8 Austria
11.3.2.9 Rest of Western Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Vietnam
11.4.6 Singapore
11.4.7 Australia
11.4.8 Rest of Asia Pacific
11.5 The Middle East & Africa
11.5.1 Middle East
11.5.1.1 UAE
11.5.1.2 Egypt
11.5.1.3 Saudi Arabia
11.5.1.4 Qatar
11.5.1.5 Rest of the Middle East
11.5.2 Africa
11.5.2.1 Nigeria
11.5.2.2 South Africa
11.5.2.3 Rest of Africa
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Colombia
11.6.4 Rest of Latin America
12. Company Profiles
12.1 Affymetrix
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 BIOVIA
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Agilent Technologies
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 BioWisdom Ltd
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Celera Corporation
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 IBM
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Life Sciences
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Illumina Inc.
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Life Technologies Corporation
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 3rd Millennium Inc
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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By Product
Bioinformatics Platforms
Sequence Analysis Platforms
Sequence Manipulation Platforms
Sequence Alignment Platforms
Structural and Functional Analysis Platforms
Others
Bioinformatics Services
Sequencing
Database Management
Data Analysis
Others
Biocontent Management
Generalized Biocontent
Specialized Biocontent
By Application
Genomics
Molecular Phylogenetics
Metabolomics
Proteomics
Transcriptomics
Cheminformatics and drug designing
Others
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
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Additional countries in any of the regions
Company Information
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