Bioinformatics Market Forecasts to 2028 – Global Analysis By Application (Transcriptomics, RNA Sequencing, Proteomics), End User (Industrial Research, Institutional and Academic Research), and By Geography

Bioinformatics Market Forecasts to 2028 – Global Analysis By Application (Transcriptomics, RNA Sequencing, Proteomics), End User (Industrial Research, Institutional and Academic Research), and By Geography

According to Stratistics MRC, the Global Bioinformatics Market is accounted for $10.88 billion in 2021 and is expected to reach $33.04 billion by 2028 growing at a CAGR of 17.2% during the forecast period. Bioinformatics is a combination of biology and information technology, which links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, including biomedicine.

Market Dynamics:

Driver:

Increasing bioinformatics funding

Many government and private companies are increasingly investing in the field of bioinformatics to enable high-quality solutions and services through data and the latest technologies. These investments have largely resulted in data and technological advancements in bioinformatics services, which, in turn, have improved the quality of these services. Also, many countries are investing in their national population sequencing programs to understand the link between genetics and diseases. Government organizations are sequencing the genomes of millions of citizens to advance research and help develop better ways to diagnose and treat diseases.

Restraint:

High costs

There is a rising demand for user-friendly, fast, and accurate bioinformatics tools with the advancement of sophisticated NGS technology. As a result, providing user-friendly tools for using bioinformatics platforms is crucial. Because of the lack of a user-friendly interface, many bioinformatics applications require advanced computer abilities. Pharmaceutical businesses and research institutions spend a lot of money on various genomic equipment since they need so many of them. Small and medium-sized pharmaceutical businesses and research facilities are unable to make such large investments in various genomics equipment due to financial constraints.

Opportunity:

Evolution of big data technology

Big data technology has risen to importance in every industry, with a slew of government and private companies using it to boost their bottom lines. This technology is rapidly evolving, allowing for precise predictive analysis. This advancement in big data is fueling the rise of bioinformatics as it allows for a closer examination of current medical issues and the development of new approaches for better treatment.

Threat:

Patient data confidentiality concerns

The advancements in next-generation sequencing technologies are generated a huge volume of biological data, and the growth of this data volume is increasing with the growing adoption of NGS. Data analysis is needed, as a lot of information is still unexplored in genome analysis. Therefore, data that remains after bioinformatics analysis carries huge importance and can be reused. The current solutions do not adequately solve the challenges of data management in bioinformatics.

The bioinformatics content/knowledge management tools segment is expected to be the largest during the forecast period

The bioinformatics content/knowledge management tools segment is estimated to have a lucrative growth as researchers utilize knowledge management technologies to deal with vast amounts of diverse data. This data comprises both experimental data and data acquired from publicly available repositories.

The metabolomics segment is expected to have the highest CAGR during the forecast period

The metabolomics segment is anticipated to witness the fastest CAGR growth during the forecast period as metabolomics is the study of all or a large number of biological metabolites on a global scale. Metabolomics generates a lot of data. Handling, processing, and analyzing this data is a significant undertaking that necessitates the use of sophisticated mathematical, statistical, and bioinformatics software.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the government funding for genetic research, the availability of prominent bioinformatics providers, decreasing sequencing prices, improved awareness of bioinformatics services, and a rise in the number of genomic research activities.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period owing to social distancing measures taken by several governments across the globe, and a large number of healthcare investments in the European region. There is also immense research and work going on aimed at developing the vaccines, and these R&D workflows utilize sequencing technologies extensively.

Key players in the market

Some of the key players profiled in the Bioinformatics Market include Waters Corporation, Thermo Fisher Scientific, Inc., Seven Bridges Genomics Inc., Quest Diagnostics, Inc., QIAGEN N.V., Perkin Elmer, Inc., NeoGenomics Laboratories, Illumina, Inc., GENEWIZ, Geneva Bioinformatics, Genedata AG, Eurofins Scientific, DNASTAR, BGI Group, and Agilent Technologies, Inc.

Key Developments:

In June 2021, Agilent Technologies Inc. launched SureSelect Human All Exon V8, a new exome design that provides comprehensive content and up-to-date coverage of protein-coding regions from RefSeq, CCDS, and GENCODE.

In Dec 2020, Eurofins Genomics launches an optimised, cost-effective, SARS-CoV-2, next-generation sequencing service providing full length viral genome sequences. The new NGS service and ARTIC NGS oligo kit are Eurofins’ latest additions to a comprehensive product portfolio to support researchers globally in the development of vaccines and in their fight against the COVID-19 pandemic.

Product & Services Covered:
• Bioinformatics Services
• Bioinformatics Content/Knowledge Management Tools
• Bioinformatics Platforms

Applications Covered:
• Transcriptomics
• RNA Sequencing
• Proteomics
• Molecular Phylogenetics
• Microbial Genomics
• Metabolomics
• Chromosomal Mapping & DNA Sequencing
• Chemoinformatics & Drug Design

End Users Covered:
• Industrial Research
• Institutional and Academic Research

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances