What Has Been The Evolution of the Bioinformatics Market in Recent Years?
The bioinformatics market has seen considerable growth due to a variety of factors.
• In recent times, there has been a swift expansion in the bioinformatics market size. It's projected to escalate from a worth of $16.54 billion in 2024 to $18.62 billion in 2025, representing a compound annual growth rate (CAGR) of 12.6%.
This historical growth trend can be traced back to the significant advancements in genomic sequencing, increased biomedical research, advances in drug discovery and development, personalization in medicine, and the growth in agriculture and biotechnology.
How Will the Bioinformatics Market?
The bioinformatics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the bioinformatics market is anticipated to experience swift expansion. By 2029, its valuation is projected to reach $32.76 billion, with a compound annual growth rate (CAGR) of 15.2%.
The projected growth within this period is attributed to progress in omics technologies, AI and machine learning, data convergence and cloud computing, biomarker identification and diagnostics, as well as interdisciplinary collaboration. The forecast period will see key trends such as the surge in genomic data, personalized healthcare, the application of machine learning and AI, and advancements in drug discovery and development.
What Main Forces Are Fueling Expansion In The Bioinformatics Market?
The surge in the pharmaceutical industry is projected to drive the expansion of the bioinformatics market. The pharmaceutical industry, a field encompassing drug discovery, development, and production by both public and private organizations, utilizes bioinformatics extensively. It considerably speeds up the processes for drug discovery and development, minimizes expenses, and enhances the efficiency and safety of pharmaceutical therapies. For example, in May 2024 as per the UK-based government department, GOV.UK, the turnover of the UK life sciences industry reached £108.1 billion in 2021/22, registering a 13% raise from the £95.9 billion turnover (adjusted for 2021/22 prices) in 2020/21. Thus, the burgeoning pharmaceutical industry is fueling the expansion of the bioinformatics market.
What Key Areas Define The Segmentation Of The Global Bioinformatics Market?
The bioinformatics market covered in this report is segmented –
1) By Products and Services: Knowledge Management Tools, Data Analysis Platforms, Services
2) By Application: Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics, Other Applications
3) By End Users: Pharmaceutics, Animal Study, Agriculture, Forensic Science, Other End Users
Subsegments:
1) By Knowledge Management Tools: Data Integration Tools, Literature Mining Tools, Data Repositories And Databases, Biological Data Visualization Tools
2) By Data Analysis Platforms: Genomic Data Analysis Platforms, Proteomics Data Analysis Platforms, Transcriptomics Data Analysis Platforms, Metabolomics Data Analysis Platforms
3) By Services: Data Analysis Services, Consulting Services, Software And Platform-As-A-Service (PaaS), Bioinformatics Research And Development Services
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How Are Emerging Trends Reshaping The Dynamics Of The Bioinformatics Market?
Leading firms in the bioinformatics market are concentrating on creating technologically superior solutions such as bioinformatics platforms to bolster their data analytic capabilities, fine-tune accuracy in personalized medicine, and expedite the process of drug discovery. Essentially, a bioinformatics platform is a software system or an amalgamation of tools crafted to handle, scrutinize and construe biological data, including genomic, proteomic and metabolomic data that augment research and influence clinical decisions. For example, Metabolon, Inc., an American biotech organization, introduced an integrated bioinformatics platform in February 2024. This platform presents a comprehensive array of analytical tools devised to facilitate metabolomics study, allowing users to perform intricate analyses effortlessly. Primary attributes incorporate advanced visualization tools such as volcano plots and principal component analysis (PCA), alongside the innovative biomarker lenses that offer focused insights into specific pathways and illnesses.
Who Are the Key Players In The Bioinformatics Market?
Major companies operating in the bioinformatics market include:
• Agilent Technologies Inc.
• Illumina Inc.
• QIAGEN NV
• Affymetrix Inc.
• Thermo Fisher Scientific Inc.
• BGI Group
• Dassault Systems SE
• Eurofins Scientific SE
• Bruker Corporation
• Biomax Informatix AG
• DNASTAR Inc.
• Partek Inc.
• Geneva Bioinformatics SA
• Perkinelmer Inc.
• Accelrys Inc.
• Nonlinear Dynamics SA
• Quest Diagnostics Inc.
• Sophia Genetics SA
• Waters Corporation
• Permin Elmer Inc.
• Celera Corporation
• Tripos Inc.
• Helicos Biosciences Incorporation
• IBM Life Sciences
• Applied Biologicals Materials Inc.
• Life Technologies Corporation
• GNS Healthcare Inc.
• DNAnexus Inc.
• Intrexon Bioinformatics Germany GmbH
• Syapse Inc.
What Is The Most Dominant Region In The Bioinformatics Market?
North America was the largest region in the bioinformatics market in 2023. Western Europe was the second largest region in the bioinformatics market analysis. The regions covered in the bioinformatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
