Covina, United States: Bioinformatics Market, By Product and Services (Knowledge Management Tools Bioinformatics Platform (Interventional/ Surgical Simulators, Sequence Analysis Platform, Sequence Alignment Platform, Sequence Manipulation Platform, Structural and Functional Analysis Platform, and Other Bioinformatics Platforms), and Bioinformatics Services (Sequencing Services, Database and Management Services, Data Analysis, and Other Bioinformatics Services), By Application (Microbial Genome, Gene Engineering, Drug Development, Personalized Medicine, Omics, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030
Bioinformatics Market Outlook
- Market Value 2020: US$ 181.47 Bn
- Market Value Estimation 2030: US$ 869.6 Bn
- CAGR: 8.9%
The need for data administration and interpretation for medical and future research goals has increased the significance of bioinformatics. This is because procedures like protein and nucleic acid sequencing generate vast amounts of data that must be interpreted and managed. As a result, during the course of the projection period, growing demand is likely to fuel the bioinformatics sector. Additionally, the release of technologically cutting-edge bioinformatics software like BALL, Bioclipse, RasMol, and AUTODOCK, as well as a rise in market adoption of these tools for precise and effective analysis of biomarkers discovery programmes that aid in toxicity detection during the early stages of the drug development process, are anticipated to boost industry growth in the ensuing years.
Top News relating to Industry, Innovation:
- In January 2021- Illumina announced the Pan-Cancer IVD Test, Cloud-Based Bioinformatics Platform.
- The StrandAdvantage500, a Next-Generation Sequencing (NGS)-based assay that examines cancer-relevant genetic changes from DNA and RNA obtained from a patient’s tumour in one integrated workflow, was unveiled in April 2020 by HealthCare Global Enterprises and Strand Life Sciences.
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Key Segmentation of the Bioinformatics market:
The Global Bioinformatics Market accounted for US$ 181.47 billion in 2020 and is estimated to be US$ 869.6 billion by 2030 and is anticipated to register a CAGR of 8.9%. The global bioinformatics market is segmented based on product and services, application, and region.
- By product & services, the Global Bioinformatics Market is segmented into knowledge management tools bioinformatics platform, and bioinformatics services.
- By application, the Global Bioinformatics Market is classified into microbial genome, gene engineering, drug development, personalized medicine, omics, and other applications.
- By region, Europe Bioinformatics market is expected to account for major revenue share in Global Bioinformatics Market, followed by other regions.
The Bioinformatics Market Report mentions the following promising regions:
- North America – U.S., Canada
- Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America – Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Top-tier significant players:
The prominent player operating in the global Bioinformatics market includes Illumina, Thermo Fisher Scientific, Agilent Technologies, Quiagen, NV, PerkinElmer, BGI, Wuxi Nextcode, Eurofins Scientific, Waters Corporation, Sophia Genetics. Prominent players operating in the target market are focusing on strategic partnerships to gain a competitive edge in the target market. For instance, in September 2019, Illumina and Broad Institute of MIT and Harvard has announced an agreement to co-develop genomic secondary analysis tool.
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