Global Bioinformatics Market Size to Reach USD 37.89 Billion in 2032 | Emergen Research

Vancouver, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The global bioinformatics market size was USD 10.80 Billion in 2022 and is expected to register a revenue CAGR of 13.4% during the forecast period. The market is benefiting from the growing adoption of bioinformatics in personalized medicine, biotechnology in agriculture, and ongoing advancements in genomics research. Bioinformatics, a category of computer programs used to analyze biological data, particularly in genomics and proteomics, is playing a vital role in various industries, such as pharmaceuticals and agriculture, by offering comprehensive solutions for data analysis and management.

The increasing usage of bioinformatics software, including tools like Bioclipse, AutoDock, Avogadro, and BEDtools, is aiding in biomarker discovery and early detection of toxicity during drug development. Velsera, a global healthcare technology firm, is contributing to market growth by offering a bioinformatics platform that empowers healthcare and life sciences communities with actionable data insights, particularly for drug development.

Rising research and development (R&D) initiatives in genomics and related '-omics' sectors are driving the demand for bioinformatics solutions, leading to increased data storage and analysis requirements. Bioinformatics tools have significantly accelerated drug discovery processes, improved drug safety, and optimized clinical trial designs, benefiting pharmaceutical and chemical companies and ultimately patients.

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High costs associated with bioinformatics tools and infrastructure, with premium genomic instruments ranging from USD 10 to 20 million, pose a significant constraint on market growth. The scarcity of skilled employees with the expertise to analyze vast volumes of data is hindering the market's expansion, as bioinformatics technologies require highly skilled end-users.

The bio content management segment led the market in 2022, thanks to the widespread utilization of bioinformatics software for database management, data sharing, and integration. The bioinformatics services segment is expected to experience the highest revenue growth during the forecast period, driven by the demand for genomic analysis, personalized medicine, and drug development.

Genomics was the largest revenue-generating segment in 2022, with bioinformatics tools crucial for processing, storing, and understanding vast datasets in areas such as personalized medicine, pharmacogenomics, and cancer research. Cheminformatics and drug designing are expected to grow rapidly, driven by biomarker discovery and cost reduction in drug development.

North America accounted for the largest revenue share in 2022, with the United States and Canada leading the way due to their concentration of research institutions and investments in genome sequencing technologies. Asia Pacific is projected to experience fast revenue growth, with the availability of qualified bioinformaticians and government initiatives supporting the market.

Europe is also set to see moderate revenue growth, driven by investments from business organizations and governments, along with a focus on agriculture, environmental research, and data privacy compliance.

The global bioinformatics market is poised for significant growth, driven by advancements in genomics and biotechnology, as well as the crucial role bioinformatics plays in improving drug discovery, personalized medicine, and various other applications. However, challenges related to cost and skilled personnel need to be addressed to unlock the full potential of this promising field.

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Scope of Research

Major Companies and Competitive Landscape

The global bioinformatics market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective bioinformatics. Some of the major companies included in the global bioinformatics market report are:

• Thermo Fisher Scientific
• Eurofin Scientific
• QIAGEN N.V.
• Agilent Technologies, Inc
• Illumina, Inc
• Waters Corporation
• DNASTAR
• NeoGenomics Laboratories
• Perkin Elmer, Inc
• BGI Group
• Fios Genomics
• SOPHIA Genetics
• DNAnexus
• Biomax Informatics AG
• LatchBio
• CytoScan

Strategic Development

• Oct 27 October 2022, Thermo Fisher Scientific came into partnership with Genoox, a company that offers sophisticated, end-to-end genomic analysis tools and provides quick, accurate solutions to difficult genetic data challenges. The collaboration seeks to use AI to automatically analyze and report cytogenetic research findings. With the introduction of the CytoScan Automated Interpretation and Reporting (AIR) service for cytogenetic research data analysis, ChAS users now have access to Franklin, Genoox's cloud-based AI platform.
• On 27 June 2022, LatchBio, a biotechnology research startup in California, developed an end-to-end bioinformatics platform for managing large amounts of biotech data to speed up scientific research and enhance efficiency.

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For the purpose of this report, Emergen Research has segmented the global bioinformatics market on the basis of solution, sector, application, and region:

• Solution Outlook (Revenue, USD Billion; 2019-2032)

• • Platform
    1. Sequence Analysis Platforms
    2. Sequence Manufacturing Platforms
    3. Sequence Alignment Platforms
  • Services
    1. Sequencing
    2. Database Management
    3. Data Analysis
    4. Other
  • Bio Content Management
    1. Generalized Bio content
    2. Specialized Bio content

• Sector Outlook (Revenue, USD Billion; 2019-2032)

• • Medical Biotechnology
  • Animal Biotechnology
  • Environmental Biotechnology
  • Plant Biotechnology
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Genomics
  • Molecular Phylogenetics
  • Metabolomics
  • Proteomics
  • Transcriptomics
  • Cheminformatics and drug designing
  • Other

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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