Los Angeles, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The global bioinformatics market size accounted for USD 12,312 Million in 2021 and is predicted to be worth USD 46,129 Million by 2030, with a CAGR of 16.2% during the forthcoming period from 2022 to 2030.
Bioinformatics Market Report Highlights:
- Global bioinformatics market size in 2021 was valued at USD 12,312 million and projected to grow at a CAGR of 16.2% from 2022-2030
- North America bioinformatics market is expected to lead the global market with more than 35% market share
- Several corporate strategic alliances established in global bioinformatics market during COVID-19 disease outbreak
- Genomics segment is expected to grow significantly over the next few years
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Bioinformatics Market Report Coverage:
| Parameter | Bioinformatics Market | |
| Bioinformatics Market Size in 2021 | USD 12,312 Million | |
| Bioinformatics Market Forecast by 2030 | USD 46,129 Million | |
| Bioinformatics Market CAGR During 2022 – 2030 | 16.2% | |
| Bioinformatics Market Analysis Period | 2018 - 2030 | |
| Bioinformatics Market Base Year | 2021 | |
| Bioinformatics Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Technology & Services, By Application, By Sector, And By Region | |
| Bioinformatics Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Illumina, Inc., Agilent Technologies, Thermo Fisher Scientific Inc., QIAGEN N. V., Eurofins Scientific, NeoGenomics Laboratories, Fios Genomics, Waters Corporation, Perkin Elmer Inc., and Source BioScience. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Bioinformatics is the solution of computer application to the analysis and management of biomedical information. It includes biomedical data collection, analysis, and distribution. Growing demand for new therapeutic R&D, as well as private and government funding initiatives to endorse research and innovation are expected to be the major factors driving the bioinformatics market size throughout the forecast period. Furthermore, the emergence of user-friendly and easily accessible bioinformatics solutions such as AUTODOCK, BALL, RasMol, and Bioclipse, as well as increasing business utilization of these techniques for reliable and efficient evaluation of biomarkers discovery programs that aid in toxic effects diagnosis during the early stages of the drug discovery and development are expected to propel the bioinformatics market growth over the next few years.
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Global Bioinformatics Market Dynamics
The global bioinformatics market growth is predicted to expand rapidly in the coming years, owing to increased demand for data collected, increased demand for protein and nucleic acid sequencing due to lower sequence alignment costs, and increased software of genomics and proteomics data. Furthermore, drug discovery and improvement, as well as organizations from private and government organizations, are expected to drive the bioinformatics market value throughout the forecast period.
Moreover, The COVID-19 global epidemic boosted the expansion of the global bioinformatics market size. The use of bioinformatics to identify the viral infection slightly earlier opened up new development opportunities for the worldwide bioinformatics market trend. Bioinformatics has also been employed in the advancement of pharmaceuticals and immunizations. Furthermore, several corporate strategic alliances were established in the global bioinformatics market during the COVID-19 disease outbreak. In this context, procurement of bioinformatics has enhanced during the global epidemic.
Besides this, a shortage of specialized staff, common data configurations, and a lack of user-friendly software at lower costs are expected to stymie market growth throughout the forecast period. Furthermore, skilled professionals are required in the area of bioinformatics. During the forecast timeframe, the bioinformatics market value is expected to face a shortage of skilled practitioners.
Bioinformatics Market Segmentation
The global bioinformatics market has been segmented by Acumen Research and Consulting based on technology & services, application, and sector. In terms of the technology & services, the market is separated into bioinformatics platforms, bioinformatics services, and knowledge management tools. Based on the application, the segment is classified into proteomics, chemo-informatics, transcriptomics, molecular phylogenetic, metabolomics, genomics, and others. By sector, the industry is divided into agriculture bioinformatics, animal bioinformatics, academics, medical bioinformatics, and others.
Global Bioinformatics Market Regional Outlook
The global bioinformatics market is divided into five geographic regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. According to the bioinformatics market analysis, North America is expected to be the prominent region in the market in 2021. Due to beneficent government legislation in favor of market participants and the rising implementation of cutting-edge technologies, the North America bioinformatics market is growing. Furthermore, the presence of significant market players, as well as their ongoing product development, collaborations, and mergers, are credited with the growth of the North American bioinformatics market. The United States government is continuing to invest in the development of the bioinformatics market. Moreover, growing activities in research and development are paving the way for the region's bioinformatics market to grow.
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Bioinformatics Market Players
Some of the prominent bioinformatics market companies are Illumina, Inc., Fios Genomics, Thermo Fisher Scientific Inc., Eurofins Scientific, Waters Corporation, Agilent Technologies, QIAGEN N. V., NeoGenomics Laboratories, Perkin Elmer Inc., and Source BioScience.
Major players in the global bioinformatics market are strengthening their position in the market through different strategies such as acquisitions and mergers and strategic partnerships with other organizations in order to introduce new products and services globally. Among the growth strategies used by players in the global bioinformatics market are:
Questions Answered By This Report:
- What was the market size of bioinformatics market in 2021?
- What will be the CAGR of bioinformatics market during the forecast period from 2022 to 2030?
- Who are the major players in global bioinformatics market?
- Which region held the largest share in bioinformatics market in 2021?
- What are the key market drivers of bioinformatics market?
- Who is the largest end user of bioinformatics market?
- What is the projected bioinformatics market value in 2030?
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