Bioinformatics is the process of collecting and analyzing biological data using computational and analytical tools. Bioinformatics is the use of computer programs to discover gene and protein functions, establish evolutionary connections, and forecast the three-dimensional structures of proteins. Bioinformatics is becoming increasingly important due to the massive volumes of data generated by techniques such as protein and nucleic acid sequencing, which require data interpretation and management for medical applications and future research. As a result, the bioinformatics market is expected to grow throughout the forecast period due to rising demand.
Rising demand for nucleic acid and protein sequencing as a result of lower sequencing costs and an increase in proteomics and genomics applications. Furthermore, drug discovery and development, as well as initiatives from government and private organizations, are expected to drive market growth during the forecast period. However, a lack of skilled personnel, standard data formats, and user-friendly tools at lower prices are expected to stymie market growth during the forecast period. Conversely, the increased demand for integrated solutions and systems, the incorporation of machine learning and AI in healthcare, and software companies investing in the development of bioinformatics solutions are expected to provide remunerative market opportunities for bioinformatics solution developers. In the coming years, the growing prominence of these emerging economies in terms of R&D and investments from global players is expected to provide a favorable outlook — as well as opportunities — for the growth of genomics, metabolomics (including chromatography, mass spectrometry, and NMR instruments), precision medicine, drug discovery, and other markets. Furthermore, because of fewer stringent regulations and data requirements, regulatory policies in the Asia Pacific are more adaptable and business-friendly. Manufacturers will be compelled to focus on emerging markets as competition in mature markets intensifies.
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Read market research report, ” Global Bioinformatics Market Segmented By Products And Services (Knowledge Management Tools, Bioinformatics Platform (Sequence Analysis Platform, Sequence Alignment Platform, Sequence Manipulation Platform, Structural And Functional Analysis Platform, Other Bioinformatics Platforms), Bioinformatics Services (Sequencing Services, Database And Management Services, Data Analysis, Other Bioinformatics Services) By Application (Microbial Genome, Gene Engineering, Drug Development, Omics, Personalized Medicine, Other Applications) & By Region – Forecast and Analysis 2021-2027” by SkyQuest
Advances in systems biology and pharmacogenomics have bolstered personalized medicine in transitioning from disease-centered and reductionist medicine to system-based, integrative, and human-centered care. For instance, in August 2021, the Atlantic Cancer Consortium (ACC) was launched in Canada, which is a group of Canadian researchers focused on the development of precision medicine for cancer, with over USD 3.6 million in new provincial and national funding. Over the next two years, the group will collaborate on a joint pilot project with the goal of becoming a member of the Terry Fox Research Institute’s new Marathon of Hope Cancer Canters Network (MOHCCN). Intensive R&D investment in metabolomics, proteomics, and transcriptomics is expected to increase demand for I.T. applications as well as data storage and analysis capabilities. Proteomics and genomics work with massive amounts of structured data that must be collected, sorted and processed in order to extract information. The technology makes it easier to store and manage such a large amount of data, which increases its usage rate.
Development of information and communication technology (ICT) infrastructure by operating entities or through relocation of data services routing via cloud computing and essentially employing a third party to maintain it, in order to meet emerging demand, are factors expected to drive R&D in this sector. With the introduction of advanced NGS technologies, there is a growing demand for user-friendly bioinformatics tools that are quick and accurate. The vast majority of experimentalists are not bioinformaticians. As a result, the availability of user-friendly tools for using bioinformatics platforms is critical. Due to a lack of a suitable user interface, many bioinformatics tools require advanced computer skills. Genomics instruments are also outfitted with advanced features and functionalities, resulting in a premium price range of USD 10–20 million. Because pharmaceutical companies and research laboratories require a large number of these systems, the capital investment required to acquire multiple genomic instruments is substantial.
The key players have a strong foothold in the market and offer a wide range of products & services. Some of the key players in this market are Thermo Fisher Scientific, Inc., Eurofins Scientific, QIAGEN N.V., Agilent Technologies, Inc., Illumina, Inc., NeoGenomics Laboratories, Perkin Elmer, Inc., GENEWIZ, BGI Group, and FiOS Genomics among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
SkyQuest has segmented the Global Bioinformatics Market based on Products And Services, Application, and Region:
• Bioinformatics Market By Products and Services (Revenue, USD Million, 2020 – 2027)
o Knowledge Management Tools
o Bioinformatics Platform
Sequence Analysis Platform
Sequence Alignment Platform
Sequence Manipulation Platform
Structural And Functional Analysis Platform
Other Bioinformatics Platforms
o Bioinformatics Services
Sequencing Services
Database And Management Services
Data Analysis
Other Bioinformatics Services
• Bioinformatics Market By Application (Revenue, USD Million, 2020 – 2027)
o Microbial Genome
o Gene Engineering
o Drug Development
o Personalized Medicine
o Other Applications
• Bioinformatics Market Regional Outlook (Revenue, USD Million, 2020 – 2027)
o North America
U.S.
Canada
o Europe
Germany
France
UK
Italy
Spain
Rest of Europe
o Asia Pacific
China
India
Japan
Rest of Asia Pacific
o Central & South America
Brazil
Rest of CSA
o Middle East & Africa
GCC Countries
South Africa
Rest of MEA
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List of Key Players of Bioinformatics Market
• Thermo Fisher Scientific, Inc. (US)
• Eurofins Scientific (Luxembourg)
• QIAGEN N.V. (Netherlands)
• Agilent Technologies, Inc. (US)
• Illumina, Inc. (US)
• Waters Corporation (US)
• DNASTAR (US)
• NeoGenomics Laboratories (US)
• Perkin Elmer, Inc. (US)
• GENEWIZ (US)
• BGI Group (China)
• Fios Genomics (UK)
• Partek Incorporated (US)
• SOPHiA Genetics (Switzerland)
• Source BioScience (UK)
• Biomax Informatics AG (Germany)
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