Report Id: SNS/HC/1755 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Bioinformatics Market Size was evaluated at USD 10.88 billion in 2021, and is predicted to increase at a CAGR of 15.5% from 2022 to 2028, to reach USD 29.84 billion.
The human genetic project and the sequencing programs of other organisms have created an unparalleled amount of biological data. The ever-changing science of bioinformatics manages to meet the great need for data analysis and translation. The use of computational and analytical tools in capturing and interpreting biological data is seen as bioinformatics. Computer science, mathematics, physics, and biology are all used in this multi-disciplinary guide. In modern biology and medicine, bioinformatics is important in data management. Bioinformatics is a branch of computer science that studies the sequence of molecular cells.
It is very good at looking at genes and other protein sequences and other patterns within the organism and between living organisms, looking at the links between evolution in animals, and finding out what patterns are seen across DNA and the sequence of proteins. Bioinformatics can be seen as part of genetic language. Bioinformatics techniques include cellular and chemical techniques in the search for natural materials.
The ability to perform complex tests and phylogenetic adjustments are also important features of molecular mechanisms. Genetic sequence analysis is needed to gain a better understanding of the genes or epigenetic components of various bacterial taxa. A growing number of fully-fledged microbial genomes, including those that are known producers of natural bacterial products, have shown that the genetic and metabolic potential of these microbes is much higher than previously expected.
Growing bioinformatics financing from the public and private sectors
Personalized medicine is becoming more popular.
R&D spending on pharmaceuticals and biotechnology is increasing.
Costs of genomic sequencing are falling.
Equipment expenditures are high.
Professionals in Short Supply
Developing business sectors offer worthwhile open doors
Blockchain and distributed computing reception are on the ascent.
Machine learning and artificial intelligence (AI) have been integrated into healthcare.
Bioinformatics solutions are being developed with the help of prominent IT businesses.
Managing massive amounts of data
There is a scarcity of qualified bioinformatics professionals.
Interoperability and multiplatform capacities are deficient.
In-house improvement and freely accessible advances are turning out to be more serious.
IMPACT OF COVID-19
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. The most basic method for studying SARS-CoV-2 genomes is next-generation sequencing, which provides basic information on the virus. For calculating such data and enhancing understanding of SARS-CoV-2, bioinformatics pipelines and biological and host-virus interaction databases are key tools. As a result, a variety of research are being conducted to better understand the virus's genetic composition, with bioinformatics as a driving force. Bioinformatics outsourcing has risen throughout the pandemic in this setting. Scientists were able to unearth several secrets of SARS-CoV-2, ranging from its detection to its origin (including its functioning and propagation), in a short period of time, thanks to the advanced and improved bioinformatics abilities of specialist co-ops.
Value Chain analysis
The market is dominated by North American regions, which have a high demand rate. It also controls a significant portion of the bioinformatics market. It is a region that accounts for almost 45 percent of the market. The significant demand is due to the presence of leading bioinformatics marketplaces.
In this region, government activities are constantly increasing. In this field, bioinformatics is advancing at a rapid pace. Furthermore, bioinformatics technology is extremely well-known in North America. In addition, it is a good location for future research. The market situation is constantly improving, with significant development potential.
By Product & Services
Bioinformatics Platforms, Knowledge Management Tools, and Bioinformatics Services are the three categories that the market is divided into. Because of an increase in platform applications and desire for better tools in drug development, the Bioinformatics Platforms sector was the top revenue producer in the market. During the forecast term, this pattern is predicted to persist. An increase in demand from life science businesses for structural identification and customization can be attributed to the development in platform applications. As a result, drug development and treatment impact evaluation would be aided. In addition, as drug research and development become more efficient and safer, the demand for new drug development technologies develops. As a result, the Global Bioinformatics Market is expected to expand.
Genomics was the most popular. The advent of technical innovations targeted at managing massive quantities of genomic data, as well as the growing demand for pharmacogenomics in drug discovery and sequence screening, are major factors accounting for this large percentage.
Proteomics has seen a lot of R&D, and bioinformatics plays a big part in understanding and managing the data that comes out of it. This also makes handling heterogeneous and massive data sets, introducing new methods, and improving the knowledge discovery process easier.
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.
By Product & Services
Knowledge Management Tools
Chemoinformatics & Drug Design
The bioinformatics market was led by North America, Europe and Asia Pacific coming second and third. Government support for genomic research, availability of leading bioinformatics providers, low cost of follow-up, increased awareness of bioinformatics services, and increased number of genomic research activities (and concomitant adoption of bioinformatics) regional development-development bioinformatics in North America. The location of funding for research projects in North America is excellent. Increased government efforts to reimburse genomic testing and the willingness to fund bioinformatics research activities reflect this regional market.
|Market Size in 2021||US$ 10.88 Billion|
|Market Size by 2028||US$ 29.84 Billion|
|CAGR||CAGR of 15.5% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product & Services (Knowledge Management Tools, Bioinformatics Services, Bioinformatics Platforms)
• By Application (Genomics, Transcriptomics, Metabolomics, Chemoinformatics & Drug Design, Proteomics)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, 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
Frequently Asked Questions (FAQ) :
Affymetrix, BIOVIA, Agilent Technologies, BioWisdom Ltd, Celera Corporation, IBM, Life Sciences, Illumina Inc., Life Technologies Corporation, 3rd Millennium Inc. are some of the key players of Bioinformatics market.
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.
Bioinformatics Market Size was expected to reach by USD 29.84 billion by 2028.
Table of Content
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine ware
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Bioinformatics Market Segmentation, By Product & Services
8.1 Knowledge Management Tools
8.2 Bioinformatics Services
8.3 Bioinformatics Platforms
9. Bioinformatics Market Segmentation, By Application
9.4 Chemoinformatics & Drug Design
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11 Company Profiles
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.3 Agilent Technologies
11.4 BioWisdom Ltd
11.5 Celera Corporation
11.7 Life Sciences
11.8 Illumina Inc.
11.9 Life Technologies Corporation
11.10 3rd Millennium Inc.
12 Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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