New York, United States , June 25, 2024 (GLOBE NEWSWIRE) -- The Global Bioinformatics Services Market Size is to Grow from USD 3.31 Billion in 2023 to USD 12.71 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 14.40% during the projected period.
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Bioinformatics is a new subject that has emerged from the combination of biology and information technology. It's an interdisciplinary field of study that integrates statistics, chemistry, biology, computer science, and mathematics into a single discipline. The primary focus of this business is the invention of new software using biological equipment and the analysis of biological data. According to the National Library of Medicine (NLM) and the National Institutes of Health (NIH), the National Centre for Biotechnology Information (NCBI), a division of the NLM, defines bioinformatics as the application of computational technology to biological information analysis, collection, classification, manipulation, recovery, storage, and visualization. The growing applications of bioinformatics in a variety of industries are predicted to drive growth in the global market for bioinformatics services. Bioinformatics services are being used by a number of industries, including food, bioremediation, agriculture, forensics, and consumer goods, in an effort to enhance the quality of their products and supply chain processes. Bioinformatics services such as data integration, manipulation, lead generation, data management, in silico analysis, and enhanced knowledge discovery are being used by businesses across diverse sectors at a rapidly growing pace. However, typical challenges are the following: developing new techniques for the full utilization of results across multiple experimental conditions; automating processes; improving data storage options; and, ultimately, accelerating the process overall through the use of hybrid parallel computing (HPC) parallelization and acceleration technology.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Bioinformatics Services Market Size, Share, and COVID-19 Impact Analysis, By Services (NGS, Chemoinformatics, Microarray Data Analysis, Biological Data Curation, and Scientific Software Testing Services, Others), By Application (Genomics, Transcriptomics, Metabolomics, Proteomics, and Drug Discovery, Others), By End User (Agriculture, Animal, Medical, and Academic Sector, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The NGS segment is anticipated to hold the greatest share of the global bioinformatics services market during the projected timeframe.
Based on the services, the global bioinformatics services market is divided into NGS, chemoinformatics, microarray data analysis, biological data curation, and scientific software testing services, others. Among these, the NGS segment is anticipated to hold the greatest share of the global bioinformatics services market during the projected timeframe. NGS includes transcriptome, chip seq, de-novo assembly, methyl Seq analysis, targeted sequencing, and whole genome. Precision medicine, the development of biomarkers, disease prediction, and other fields are using sequencing technology more and more, and this is reflected in the market share gained from it as well as decreasing sequencer costs.
The transcriptomics segment is anticipated to hold the greatest share of the global bioinformatics services market during the projected timeframe.
Based on the application, the global bioinformatics services market is divided into genomics, transcriptomics, metabolomics, proteomics, and drug discovery, and others. Among these, the transcriptomics segment is anticipated to hold the greatest share of the global bioinformatics services market during the projected timeframe. Preventative medicine and tailored healthcare, as well as the rising requirement for real-time sickness management, are expected to fuel the industry's demand throughout the course of the forecast period. Moreover, transcriptomics is predicted to grow at a comparatively faster rate due to an increase in research projects in the field and the introduction of technological advancements for the analysis of RNA transcripts using bioinformatics-based techniques.
The academic sector segment is predicted to hold the largest share of the global bioinformatics services market during the estimated period.
Based on the end user, the global bioinformatics services market is divided into agriculture, animal, medical, and academic sectors, and others. Among these, the academic sector segment is predicted to hold the largest share of the global bioinformatics services market during the estimated period. Bioinformatics services are critical to academic sectors since they enable the analysis of large volumes of biological data, leading to breakthroughs in drug discovery, proteomics, and genomics. Due to their substantial funding and focus on interdisciplinary research, academic institutions and research centres continue to be important drivers of innovation in the bioinformatics sector. This has helped the industry flourish strongly into new market niches.
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North America is expected to hold the largest share of the global bioinformatics services market over the forecast period.
North America is expected to hold the largest share of the global bioinformatics services market over the forecast period. The increased participation of industry participants and the consequent generation of industrial income might be attributed to a well-established regulatory framework. The region's simultaneous development of chemical laboratories and next-generation sequencing is the most impact element influencing the high penetration of informatics services cantered around drug discovery and ultimately enhancing revenue generation.
Asia Pacific is predicted to grow at the fastest pace in the global bioinformatics services market during the projected timeframe. Since this region is home to 60% of the world's population, even a low prevalence translates into a sizable number of sick people. Two rising economies that contribute to the growth and revenue share of the Asia Pacific region are Australia and India. Building the infrastructure that is expected to affect revenue development in this industry through service outsourcing is being undertaken by a growing number of Asian countries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Bioinformatics Services Market Source Bioscience, Thermo Fisher Scientific, Qiagen Bioinformatics, Perkinelmer, Neogenomics, Microsynth, Medgenome Labs, Macrogen, Illumina, Genewiz, FIOS Genomics, Eurofins Scientific, CD Genomics, Baseclear, BGI, and other key vendors.
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Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In March 2022, The CE-IVD Marked Next-Generation Sequencing (NGS) Instrument for Use in Clinical Labs was introduced by Thermo Fisher Scientific Inc. On a single device, clinical research and diagnostic tests are carried out using the CE-IVD Marked Next-Generation Sequencing Instrument. The instrument first led to the distribution of the NGS instrument and the addition of a new product to the lineup, both of which are anticipated to boost product sales.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bioinformatics services market based on the below-mentioned segments:
Global Bioinformatics Services Market, By Type
- NGS
- Chemoinformatics
- Microarray Data Analysis
- Biological Data Curation
- Scientific Software Testing Services
- Others
Global Bioinformatics Services Market, By Application
- Genomics
- Transcriptomics
- Metabolomics
- Proteomics
- Drug discovery
- Others
Global Bioinformatics Services Market, By End User
- Agriculture
- Animal
- Medical
- Academic Sector
- Others
Global Psyllium Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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