Emphasis on Product & Services (Knowledge Management Tools, Bioinformatics Platforms, Bioinformatics Services); Application (Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, Other Applications); Sector (Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Other Sectors); Region/Country
The Bioinformatics Market was valued ~US$ 13 billion in 2020 and is expected to grow at an elevated CAGR of ~14.5% over the forecast period (2021-2027). Bioinformatics is the application of computational technology for the analysis as well as management of biological data. It comprises analysis, storage, and dispersion of biological data. Bioinformatics utilizes computational software for numerous applications, such as, determining evolutionary relationships, establishing gene & protein functions, and predicting the 3D structure of proteins. The demand for Bioinformatics is increasing on account of the rising need for integrated data, high demand for protein and nucleic acid sequencing, decrease in sequencing cost, and rise in application of genomics and proteomics. Moreover, the rising number of drug discoveries & developments in recent years and rising initiatives from the government as well private organizations also propels the market growth. In addition, the integration of Artificial Intelligence (AI) and machine learning in software and healthcare companies and the rise in need for integrated systems & solutions are projected to offer growth opportunities to the Bioinformatics market.
Distribution of Cancer Incidence by World Region (%), 2020
Insights Presented in the Report
“Amongst Product & Services, Knowledge Management Tools segment holds the major share.”
Based on Product & Services, the market is fragmented into Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. The Bioinformatics Services segment is expected to grow at lucrative during the forecasted period owing to high financial support from the private as well as government bodies for Next-generation sequencing (NGS) based projects, decreased sequencing costs, advancements in NGS, and the necessity for high-throughput analysis of a large amount of data generated during sequencing. The knowledge management tools segment accounted for the largest share of the bioinformatics market in 2020. Knowledge management tools are mainly exploited by researchers for the handling of large volumes of heterogeneous information. This information comprises the data from biological experiments and the data recovered from existing repositories. The several functions of knowledge management tools consist of data management, data mining, data warehousing, and information retrieval. These types of functions assist in the understanding of the genes and proteins’ structure along with the effects of mutations by comparing them with available databases.
“Amongst Application, Transcriptomics segment holds the major share.”
Based on the Application, the market is bifurcated into Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, and Other Applications. The Transcriptomics segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period owing to the rise in preference of personalized medicines as well as companion diagnostics. In addition, the global acceptance of transcriptomics technology, continuous discovery of biomarkers, and novel gene sequencing are the major factors intensifying segment growth.
“Amongst Sector, the Medical Biotechnology segment is anticipated to grow at the highest CAGR during the analyzed period.”
Based on the Sector, the market is bifurcated into Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Other Sectors. The Medical Biotechnology segment dominated the market in 2020 and is expected to grow at a lucrative growth during the forecast period owing to the high exploitation of bioinformatics in clinical diagnostics, production of new databases for drug discovery, and rising funding for the development of bioinformatics solutions.
“North America region signifies one of the largest markets and is expected to be the fastest-growing markets of Bioinformatics market.”
For a better understanding of the market adoption of Bioinformatics, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Bioinformatics market on account of the high government support for genomic research. Some of the major players operating in the market include Thermo Fisher Scientific, Inc, Eurofins Scientific, QIAGEN N.V, Agilent Technologies, Inc, Illumina, Inc, Waters Corporation, DNASTAR, NeoGenomics Laboratories, Perkin Elmer, Inc, and GENEWIZ. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Reasons to buy this report:
Customization Options:
The Bioinformatics Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Bioinformatics Market Covid-19 Impact
6. Global Bioinformatics Market Revenue (usd), 2019-2027f
7. Market Insights By Product & Services
8. Market Insights By Application
9. Market Insights By Sector
10. Market Insights By Region
11. Bioinformatics Market Dynamics
12. Bioinformatics Market Opportunities
13. Bioinformatics Market Trends
14. Legal & Regulatory Framework
15. Demand And Supply Side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Bioinformatics market were the three major steps undertaken to create and analyze the adoption of Bioinformatics for the different Product & Services such as Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Bioinformatics sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to.
Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
The detailed secondary study was conducted to obtain the historical market size of the Bioinformatics through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Bioinformatics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Products & Services, Application, Sector, and region/country. Further country-level analyses were conducted to evaluate the overall adoption of Bioinformatics in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Bioinformatics. Further, we conducted factor analysis using dependent and independent variables such as the Increasing public-private sector funding for bioinformatics.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Bioinformatics Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Bioinformatics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Products & Services, Application, Sector, and Region of the Bioinformatics market.
Main Objective of the Bioinformatics Market Study
The current & future market trends of Bioinformatics were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
Customers who bought this item also bought
Antibiotic Resistance Market: Current Analysis and Forecast (2024-2032)
Emphasis on Disease Type (Urinary Tract Infections, Intra-Abdominal Infections, Blood Stream Infections, Clostridium Difficile Infections, And Others); Pathogen Type (Acinetobacter baumannii, Pseudomonas aeruginosa, Staphylococcus aureus, Streptococcus pneumoniae, and Others); Drug Class (Oxazolidinones, Lipoglycopeptides, Tetracyclines, and Others); and Region/Country
October 8, 2024
