How Has The Bioinformatics Services Market Size Evolved In Recent Years?
The bioinformatics services market has seen considerable growth due to a variety of factors.
•In recent times, the bioinformatics services market has seen a swift expansion. It's projected to increase from a valuation of $4.15 billion in 2024 to $4.78 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.2%.
The historical growth is due to developments in genomic research, the emergence of personalized medicine, investments in pharmaceutical R&D, the surge of biological data, governmental healthcare initiatives, and the rising adoption of next-generation sequencing (NGSs).
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Bioinformatics Services Market?
The bioinformatics services market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a quick surge in the bioinformatics services market size in the years ahead. The projected figure for 2029 is approximately "$9.38 billion, with an impressive compound annual growth rate (CAGR) of 18.4%.
This prospective rise during the forecast period can be ascribed to the growing relevance in clinical diagnostics, amplified significance in agriculture and environmental sciences, escalating cooperative research, and an increased requirement in drug repurposing. Key trends predicted for the forecast period include initiatives in digital health, advancements in sequencing technology, the integration of AI and machine learning, the incorporation of cloud-based solutions, personalized medicine, genomic analysis, and the utilisation of blockchain for enhanced data security.
Which Drivers Are Accelerating Growth In The Bioinformatics Services Market?
The bioinformatics services market's growth is anticipated to escalate due to the expanding application of information technology (IT) in the healthcare sector. The integration of IT in healthcare has enabled medical practitioners to enhance the caliber of treatments provided to patients, heighten patient safety, boost efficiency, reduce expenditures, and elevate communication among healthcare experts. The bioinformatics services, which necessitate the application of computer science and statistics in the analysis of biological data, are significantly reliant on IT. To illustrate, the National Center for Health Statistics reported in December 2022 that 58.5% of US adults utilized the Internet for seeking out health or medical information, 41.5% used it to connect with a doctor or doctor's office, and 46.1% applied it for checking up on medical test results. Consequently, the expanding usage of IT in healthcare is fuelling the development of the bioinformatics services market going forward.
What Are The Core Segments Of The Global Bioinformatics Services Market?
The bioinformatics services market covered in this report is segmented –
1) By Service: Sequencing Services, Data Analysis, Drug Discovery Services, Differential Gene Expression Analysis, Database And Management Services, Other Services
2) By Specialty: Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology
3) By Application: Genomics, Chemoinformatics And Drug Design, Proteomics, Transcriptomics, Metabolomics, Other Applications
4) By End User: Academic Institute And Research Centers, Hospital And Clinics, Pharmaceutical And Biotechnology Companies, CROs, Other End Users
Subsegments:
1) By Sequencing Services: Whole Genome Sequencing, Exome Sequencing, Targeted Sequencing
2) By Data Analysis: Genomic Data Analysis, Transcriptomic Data Analysis, Proteomic Data Analysis
3) By Drug Discovery Services: Target Identification, Lead Optimization, Preclinical Development
4) By Differential Gene Expression Analysis: RNA-Seq Analysis, Microarray Analysis
5) By Database And Management Services: Data Storage Solutions, Data Integration Services
6) By Other Services: Consulting Services, Custom Software Development
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Which Emerging Trends Are Reshaping The Bioinformatics Services Market Size?
Technological innovations are becoming a significant trend in the bioinformatics services market. Firms in this market are leveraging these advancements to maintain their market standing. In July 2022, for example, bitBiome Inc., a microbiome analysis firm from Japan, unveiled its Enzyme Discovery service. This service uses the world's biggest microbial genome database (MMGDB) and distinctive bioinformatics methodologies. The MMGDB was created utilizing bit-MAP, bitBiome's fundamental single-cell genome analysis methodology which examines the human microbiome, along with bacteria from the environment, like those in soil, oceans, and hot springs. BitBiome offers enzyme discovery services, leveraging its bioinformatics and 3D structural modeling technologies to identify optimal sequences from the MMGDB.
Who Are the Key Players in the Bioinformatics Services Market?
Major companies operating in the bioinformatics services market include:
• QIAGEN Digital Insights
• Thermo Fisher Scientific Inc.
• Illumina Inc.
• DNAnexus Inc.
• PerkinElmer Inc.
• Biomax Informatics AG
• Life Technologies Corporation
• BGI Group
• Eurofins Scientific SE
• NeoGenomics Laboratories Inc.
• CD Genomics Inc.
• MedGenome Labs Pvt. Ltd.
• Fios Genomics Ltd.
• Geneva Bioinformatics SA
• GVK Biosciences Private Limited
• Accelrys Inc.
• Macrogen Inc.
• GENEWIZ Inc.
• Source BioScience Limited
• Microsynth AG
• BaseClear B.V.
• DNASTAR Inc.
• GATC Biotech AG
• Partek Incorporated
• Seven Bridges Genomics Inc.
• Omixon Inc.
• BioTeam Inc.
• BioBam Bioinformatics S.L.
• Biomatters Limited
• Genomatix GmbH
• DNASTREAM Limited
• Genalice B.V.
• Golden Helix Inc.
• Strand Life Sciences Private Limited
What are the Regional Insights into the Bioinformatics Services Market?
North America was the largest region in the bioinformatics services market in 2024.Europe is expected to be the fastest-growing region in the global bioinformatics services market report during the forecast period. The regions covered in the bioinformatics services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
