USD 13.2 billion
Report ID:
SQMIG35H2059 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
75
|Figures:
75
Bioinformatics Market size was valued at USD 15.35 Billion in 2023 and is poised to grow from USD 17.85 Billion in 2024 to USD 53.03 Billion by 2032, growing at a CAGR of 16.3% during the forecast period (2025-2032).
The research of new drugs and increasing private and public investment initiatives to support R&D activities are expected to be the major drivers of the market during the forecast period. In addition, user-friendly and easily accessible bioinformatics software such as RasMol, AUTODOCK, BALL, Bioclipse, and the widespread use of these tools in the market.
Bioinformatics software and tools are used as integrated solutions that provide algorithms and statistical methods for data analysis and help integrate data management. Increasing R&D programs in the market, as well as other related '-omics' fields, are expected to further support market growth though the requirement for data storage and analysis.
According to an article published by Stanford Medicine in January 2022, studies through Stanford scientists confirmed that DNA sequencing techniques can sequence the human genome in approximately 8 hours. Such advances could drive the call for genomics about has grown, and consequently, the field of bioinformatics. Such advances could drive the demand for genomics approximately has grown, and consequently, the field of bioinformatics. Bioinformatics data storage and analysis applications can store massive amounts of genomic and proteomic facts to facilitate studies in regions ranging from genetic illnesses to chemoprevention to carcinogens in aging.
Global Market Size
USD 13.2 billion
Largest Segment
Bioinformatics Platform
Fastest Growth
Bioinformatics Platform
Growth Rate
16.3% CAGR
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The global bioinformatics market is segmented based on products and services, application, sector, and region. Based on Products and Services, the market is segmented into Knowledge Management Tools (Generalized Knowledge Management Tools, Specialized Knowledge Management Tools), Bioinformatics Platforms (Data Analysis Platforms, Structural & Functional Analysis Platforms, Other), and Bioinformatics Services (Sequencing Services, Data Analysis Services, Drug Discovery Services, Differential Gene Expression Analysis Services, Database And Management Services, Other). Based on application, the market is segmented into Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, and Others. Based on sector, the market is segmented into Medical Biotechnology (Drug Discovery & Development, Clinical Diagnostics & Personalized Medicine, Reproductive Health), Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Other. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product & Service
The bio-content management dominates the segment with a revenue share of 39.6% in 2022. The widespread use of bio-informatics tools and software in database management is one of the reasons for this high share, due to the fact that it manages data efficiently and easily. It encourages the sharing of external databases and resources and encourages data integration. The segment is also expected to witness significant growth over the forecast period owing to rapidly increasing demand for whole genome and exome sequencing technologies due to the moving cost of gene sequencing.
The bioinformatics platforms segment is expected to grow significantly over the forecast period. Bioinformatics platforms greatly facilitate collaboration and data sharing in academia. The increasing volume and complexity of biological data, the rise of personalized medicine, and the rise of cloud computing are driving segment growth and are also driving the development of bioinformatics platforms. Furthermore, the introduction of new and advanced technologies is anticipated to fuel the growth of the market during the forecast period. For example, in June 2022, My Intelligent Machines (MIMs) launched its software for the drug development in oncology. In other news, in August 2022, ARUP launched Rio, a bioinformatics analytics platform that helps generate faster results for next-generation sequencing assays.
Analysis by Application
The genomics segment is expected to expand at a CAGR of 11.3% and account for the largest market share. Genomics is a combination of genetics and bioinformatics that uses DNA and its sequencing techniques to assemble, analyze, and sequence the structure and function of the genome (DNA). Genomics applications include micro-scale genetic mapping and whole DNA sequencing of organisms. Increased government spending and increased genetic testing programs are supposed to drive the expansion of the genomics sector. The genomics segment in the market is expected to expand significantly in the field of personalized medicine due to its particular emphasis on drug discovery.
Chemoinformatic & drug design is the fastest growing segment in the market. The annotation and collection of medical information transforms data into useful information. Copper discovery facilitates mobility at low microsite levels, while optimized copper utilization facilitates conversion of copper into therapeutic candidates. Explosive data from high throughput sequencing and library building requires improved drug information systems. Drug discovery and supplementary drug information is expected to contribute to the development of and enable the SMEs to participate in drug discovery research.
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North America dominated the market with a 43.6% revenue share in 2022. Most of the revenue is generated from the US and Canada, which are dominated by top research organizations, academic institutions and bioinformatics companies in this region. The regional market is expected to grow with the rise of research and innovative technologies and cutting-edge technologies related to molecular biology and genome design. For example, in June 2022, California-based biotech studies startup LatchBio released an end-to-end bioinformatics platform that tactics large biotech data to accelerate the medical discovery.
Asia-Pacific is poised to be the fastest growing market with a CAGR of 18.4%. The influx of the skilled and trained bioinformaticians and the anticipated strong growth in the regional IT sector are expected to boost the capacity of developed economies. Supportive government policies are also expected to boost the growth of the region during the forecast period. For example, China has released initiatives together with the China Precision Medicine Initiative and the China National Gene Bank that emphasize the usage of bioinformatics in genomics research and healthcare. While countries like India and South Korea have advanced bioinformatics capacity building packages strengthen and inspire innovation on this region.
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Driver
Growing Demand for Generic Drugs
Advances in Sequencing Technology
Restraint
High Cost of Bioinformatics Software and Equipment
Data Privacy and Security Concerns
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The key players have a strong foothold in the market and offer a wide range of products & services. Participants in the industry are engaged in research and development for the advancement of genetic and proteomic sequencing for improving DNA and RNA sequencing capabilities and reduce the costs associated with it. For instance, in July 2024, Inocras collaborated with Watchmaker Genomics for providing solutions focused on accelerating insights for patients and researchers. During the development process, Inocras has conducted extensive testing of various library preparation chemistries. After thorough examining, they have chosen the watchmaker DNA library prep kits with fragmentation because of their superior library conversion efficiency, minimal bias in sequence coverage, and excellent accuracy in sequencing, especially with challenging formalin-fixed, paraffin-embedded (FFPE) tissues.
Top Players Company Profiles
Recent Developments
Integration of Artificial Intelligence (AI) in Bioinformatics
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, emerging markets such as India, China, Brazil, Russia, Taiwan, and South Korea present significant growth potential for large bioinformatics firms. 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 and metabolomics. Furthermore, because of fewer severe laws and data requirements, regulatory policies in Asia Pacific are more adaptable and business friendly. The main trend is the rising adoption of personalized medicines which is expanding the market growth. Manufacturers will be compelled to focus on emerging markets as competition in mature countries intensifies.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 15.35 Billion |
Market size value in 2032 | USD 53.03 Billion |
Growth Rate | 16.3% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Bioinformatics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bioinformatics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bioinformatics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bioinformatics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35H2059
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