Global Bioinformatics Market - 2023-2030

Global Bioinformatics Market - 2023-2030

The Global Bioinformatics Market size reached US$ 11.4 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 29.1 billion by 2030. The global bioinformatics market is expected to exhibit a CAGR of 12.8% during the forecast period (2023-2030).

The global bioinformatics market has been expanding continuously in recent years. Bioinformatics is a scientific subdiscipline connected to genetics and genomics that involves the use of computer technology to gather, store, analyze, and disseminate biological data and information, such as DNA and amino acid sequences or annotations about those sequences.

The global bioinformatics market scope comprises components encompassing its application such as genomics, gene engineering, drug development, omics, and personalized medicine which has increased usage of bioinformatics market share. The global market for bioinformatics is expanding as a result of factors including increasing adoption of genomics and personalized medicine, growing focus on drug discovery and development, demand for efficient data management and analysis and rising demand for nucleic acid and protein sequencing.

Market Dynamics

Rising Demand for Nucleic Acid and Protein Sequencing to Drive the Growth of the Bioinformatics Market

The bioinformatics market is expected to expand due to increased demand for nucleic acid and protein sequencing. The importance of bioinformatics in medical applications and future research is becoming clear as it becomes increasingly important in organizing and understanding the massive quantities created by procedures such as sequencing. This increased need is projected to be a major driving force in the bioinformatics market in the near future.

For instance, in April 2023, PEAKS AB 3.0, a software for protein de novo sequencing and glycan profiling, was released by Bioinformatics Solutions Inc. PEAKS AB offers a powerful, automated method for comprehensive de novo protein sequencing from high-resolution LC-MS/MS datasets. In PEAKS AB 3.0, protein samples other than antibodies can be sequenced by building de novo tags to extract the unknown sequence and can use reference sequence(s) to find peptide spectral matches and fill sequence gaps.

Utilization of AI and Machine Learning is the Major Driver in the Global Bioinformatics Market

Artificial intelligence (AI) and machine learning (ML) serve as key growth drivers in the global bioinformatics market. AI and machine learning techniques have transformed data analysis and interpretation in bioinformatics. These technologies allow researchers to efficiently handle large-scale genomic, proteomic, and other biological data, extract useful insights, and make accurate predictions. AI and machine learning techniques can help with pattern recognition, data classification, protein structure prediction, and complicated biological system analysis.

According to an Itrex Group research article released in 2023, the use of machine learning and artificial intelligence (AI) is highly popular in bioinformatics. Specifically, machine learning techniques such as Natural Language Processing (NLP), neural networks, clustering, and dimensionality reduction have proven to be useful in a variety of applications.

Gene editing experiments, protein structure identification, gene-disease connection detection, and therapeutic repurposing are among the applications. For example, in bioinformatics, AI is used to analyze relevant databases such as BindingDB and DrugBank, allowing researchers to investigate new applications of existing medications beyond their original intentions. Thus, driving the market over the forecast period.

Data Security and Privacy Concerns will Hamper the Growth of the Market

The massive volume of biological and genetic data being generated and analyzed generates concerns about data security and privacy. The bioinformatics market faces issues in protecting sensitive information and complying with severe data protection rules.

For instance, in March 2023, The National Cybersecurity Center of Excellence at the National Institute of Standards and Technology published a draft stating that the current regulations, standards, and controls for genetic data cybersecurity and privacy are not adequate, and the public is invited to comment on proposed use cases and protections. Thus, owing to security risks and concerns, the bioinformatics market might see a downfall over the forecast period if strict rules and regulations are not enforced.

COVID-19 Impact Analysis

The pandemic of COVID-19 has had a tremendous influence on the bioinformatics market. It has sped up research and drug development efforts, with bioinformatics tools critical in analyzing viral genomes, predicting protein structures, and discovering possible therapeutic targets. Because of the massive volume of data generated through COVID-19 research, the pandemic has significantly raised the need for bioinformatics solutions for data analysis and interpretation. The use of telemedicine and digital health technologies has highlighted the need for bioinformatics in data management and patient monitoring.

Russia-Ukraine War Impact Analysis

The conflict between Russia and Ukraine has the potential to disrupt research collaboration, produce a brain drain of trained experts, create funding issues, disrupt infrastructure and supply chains, and cause regional market volatility in the bioinformatics industry.

This restricts international collaboration, impairs R&D efforts, and creates an unpredictable business environment, affecting investments and market growth in the impacted regions. The intensity and length of the impact, however, will be determined by the precise conditions and dynamics of the conflict.

Segment Analysis

The global bioinformatics market is segmented based on product & services type, application, and region.

The Bioinformatics Platform Segment Accounts for 40.2% of the Market Share Owing to the Increasing Biological Data

The bioinformatics platform segment is projected to dominate the market. Bioinformatics platforms offer comprehensive solutions for data management, analysis, and visualization in domains such as genomes, proteomics, and drug discovery. These platforms provide a variety of tools, algorithms, and databases that allow researchers to rapidly analyze and understand biological data.

Furthermore, the growing volume and complexity of biological data have increased the necessity for sophisticated bioinformatics platforms. These platforms provide researchers with a user-friendly interface, integration capabilities, and access to varied data sources, promoting advanced research and speeding scientific breakthroughs.

For instance, Rio, a new world-class bioinformatics pipeline and analytics platform, has made ARUP's next-generation sequencing (NGS) testing faster and more exact.

Rio expands ARUP's existing cloud computing capabilities to transmit data more efficiently and accurately, allowing specific test findings to be delivered to physicians for analysis and enhanced medical decision-making for patients. Thus driving the segment growth over the forecast period.

Geographical Analysis

North America Accounted for Approximately 41.2% of the Market Share Owing to the Increasing Funding For Research Activities

North America is expected to dominate the bioinformatics industry, owing mostly to increased funding for R&D initiatives. With multiple academic institutions, research organizations, and biotechnology firms actively working on this subject, the region has a strong infrastructure for bioinformatics research and development. Significant support from government programs, commercial investments, and grants has aided the expansion of bioinformatics in North America.

For instance, in May 2023, Pluto Biosciences, an innovative life sciences software-as-a-service (SaaS) platform, announced the completion of a $3.7 million seed round led by Silverton Partners in Austin, TX. This investment will help Pluto's innovative platform grow, providing scientific teams with a unified home for managing their biological data as well as an industry-first interactive canvas for analyzing and visualizing complex biological data sets using no-code computational biology pipelines.

Competitive Landscape

The major global players in the bioinformatics market include Illumina Inc, Thermo Fischer Scientific, Qiagen NV, Agilent Technologies, PerkinElmer, Celera Corporation, Dassault Systèmes, Data4Cure, Geneva Bioinformatics SA, and Lineage Cell Therapeutics, among others.

Why Purchase the Report?
• To visualize the global bioinformatics market segmentation based on product & services type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of bioinformatics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in Excel consisting of key products of all the major players.

The global bioinformatics market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies