Bioinformatics Market is valued at USD 10.82 Billion in 2021 and is expected to reach USD 24.07 Billion by 2028 with a CAGR of 12.1% over the forecast period.
The increasing scope in research and development, drug discovery, new advancements in genetics analysis and synthesis methods and techniques are driving the Bioinformatics market.
Bioinformatics is a combination of biology and information technology, which links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, including biomedicine. Bioinformatics software and tools are being used as integrated solutions that provide algorithms and statistical methodologies for data analysis and help in integrating data management and analysis for applications such as next-generation sequencing, genomic and proteomic structuring, and modeling, and three-dimensional drug designing. There are various bioinformatics tools available in the market categorized as homology and similarity tools, protein functional and analysis tools, sequence analysis tools, and miscellaneous tools. Increasing R&D initiatives in the proteomics and genomics market including other related ‘–omics’ fields are further expected to support the market growth to meet the demand for data storage and analysis.
Bioinformatics market report is segmented on the basis of product, by application, and by regional & country level. Based on product, the global Bioinformatics market is classified into Sequence Analysis, Manipulation, Alignment, Structural & Functional Analysis Platforms, and Data Management and Sequencing. Based on application, the global Bioinformatics market is classified into Drug Development, Protein Function Analysis, Gene Therapy, Molecular Genomics, and Personalized Medicine.
The regions covered in this Bioinformatics market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global Bioinformatics market are,
Bioinformatics is the combination of biology and information technology. It is used widely in the management of biological information in the field of medical research and the development of drugs. It uses computer software tools for database creation, data management, data warehousing, data mining, and communication networking. Expenditure and investments in drug discovery are mounting the market growth. Inclination towards collaborating with genetics research organizations is the key element responsible for the large market share of medical biotechnology. The field covers many advanced and specialized areas of life such as structural genomics, functional genomics, DNA microarrays, comparative genomics, medical information, and others. The rising need for integrated bioinformatics systems in proteomics and genomics also supports the growth of the bioinformatics market. Genomics is the largest application-based bioinformatics market. Increasing mergers and acquisitions and new product innovation are some of the latest trends in the bioinformatics market. Nanopore sequencing technology is one of the growth opportunities for the bioinformatics market. Lack of skilled professionals and high costs for implementation of bioinformatics software are restraining the growth of the bioinformatics market.
North America is the largest market for global bioinformatics. North America is dominating the global bioinformatics market due to growing applications of bioinformatics in drug discovery and development, growing information technology applications in bioinformatics, and rising number of R&D activities. North America dominated the market in 2017, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period.
In terms of growth, Asia is the fastest-growing region due to rising government initiatives for research and development and improving IT infrastructure. Some of the fastest-growing markets in the Asia region are Japan, China, and India. Asia is the fastest-growing market for bioinformatics due to the rising number of R&D activities and rising government funds for research and developments. Latin America is projected to witness the fastest growth in the coming years, owing to the generation of the massive volume of data that needs to be interpreted and managed and advancement in the field of proteomics and genomics. This is attributed to an upsurge in the adoption of advanced technology and an increase in demand for better bioinformatics tools, which are required in the drug discovery and development process.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 10.82 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 24.07 Billion|
|Tables, Charts & Figures:||175|
|Bioinformatics Companies:||Life Technologies, Affymetrix, Bio-Rad Laboratories, Agilent Technologies, Thermo Fisher Scientific, Eurofins Scientific, Illumina, others|
|Segments Covered||By Product, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
The Middle East and Africa