Bioinformatics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Bioinformatics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global bioinformatics market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.8 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.

Bioinformatics refers to an interdisciplinary scientific field that develops various methods and software tools for analyzing and interpreting biological data. It combines the principles of biology, mathematics, statistics and information technology (IT) to research genomic data and biological networks. It also integrates various tools for information storage, distribution and analysis to facilitate scientific research, along with various software programs for the management, creation, warehousing and mining of data. Owing to this, bioinformatics finds extensive applications in the field of molecular medicines, preventive medicines, drug development, gene therapy and forensic analysis of microbes.

The global market is primarily being driven by the significant advancements in the field of biotechnology. In line with this, the increasing demand for nucleic acid and protein sequencing for proteomics and drug discovery is contributing to the market growth. The collected data and information assists in understanding the nature of molecular mechanisms of diseases, thereby aiding in the development of more efficient diagnostic tests and treatment methods. Furthermore, widespread adoption of bioinformatics in the agriculture sector is also providing a boost to the market growth. The technology is used to study the genetic, proteomic, metabolomic and phenome information of the seeds, which is utilized for developing techniques for improving crop productivity. Additionally, various technological advancements, such as the integration of artificial intelligence (AI) and big data technology in the healthcare sector, is also driving the demand for this technology. Other factors, including the increasing investments by IT companies for the development of bioinformatics solutions, along with the rising preference for personalized medicines across the globe, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global bioinformatics market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product and service, application and end-use sector.

Breakup by Product and Service:

Knowledge Management Tools
Generalized Knowledge Management Tools
Specialized Knowledge Management Tools
Bioinformatics Platforms
Surgical Simulation Platforms
Sequence Analysis, Alignment and Manipulation Platforms
Structural and Functional Analysis Platforms
Others
Bioinformatics Services
Data Analysis Services
Database Management Services
Others

Breakup by Application:

Genomics
Chemoinformatics and Drug Design
Proteomics
Transcriptomics
Metabolomics
Others

Breakup by End-Use Sector:

Medical Biotechnology
Academics
Animal Biotechnology
Agricultural Biotechnology
Environmental Biotechnology
Forensic Biotechnology
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being ABM Industries, Agilent Technologies, Biomax Informatics, Data4Cure Inc., Dnastar Inc., Illumina Inc., Life Technologies, PerkinElmer Inc., Qiagen N.V., Quest Diagnostics, Sophia Genetics SA, Thermo Fisher Scientific Inc., Waters Corp, WuXi Nextcode Genomics, etc.

Key Questions Answered in This Report
1. What is the global bioinformatics market growth?
2. What are the global bioinformatics market drivers?
3. What are the key industry trends in the global bioinformatics market?
4. What is the impact of COVID-19 on the global bioinformatics market?
5. What is the global bioinformatics market breakup by product and service?
6. What are the major regions in the global bioinformatics market?
7. Who are the key companies/players in the global bioinformatics market?