USD 2.5 billion
Bioinformatics Services Market Size, Share, Growth Analysis, By Application(Genomics, Chemoinformatic & Drug Design, Proteomics, Transcriptomics), By Specialty(Medical, Animal, Plant, Environmental), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2205 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
67
|Figures:
77
Bioinformatics Services Market Insights
Bioinformatics Services Market size was valued at USD 2.9 billion in 2022 and is poised to grow from USD 3.36 billion in 2023 to USD 8.14 billion by 2031, at a CAGR of 15.9% during the forecast period (2024-2031).
The global bioinformatics services market has witnessed substantial growth and holds promising prospects for the future. The market is being driven by factors such as the increasing demand for personalized medicine, advancements in genomics and proteomics research, and the growing need for efficient data management and analysis in the life sciences industry.
The rise in genomic data generated by next-generation sequencing technologies and the need to interpret and manage this vast amount of data have fueled the demand for bioinformatics services. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) algorithms in bioinformatics has further accelerated market growth, enabling the development of predictive models, drug discovery, and precision medicine.
Furthermore, the increasing adoption of cloud computing for data storage and analysis, along with the rising importance of data standardization and interoperability, are propelling the bioinformatics services market. Emerging economies are witnessing significant growth due to favorable government initiatives and investments in genomics research and bioinformatics infrastructure.
Factors such as the establishment and improvement of information and communication technology (ICT) infrastructure by organizations or the adoption of cloud computing for data services, often managed by third-party providers, to meet growing demands, are anticipated to stimulate research and development (R&D) activities in this sector.
As a result, these developments are expected to significantly impact the progress and advancement of the sector until 2024.
US Bioinformatics Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Genomics
Fastest Growth
Genomics
Growth Rate
15.9% CAGR
Global Bioinformatics Services Market ($ Bn)
Country Share for North America Region (%)
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Bioinformatics Services Market Segmental Analysis
The global bioinformatics services market is segmented on the application, end user, specialty and region. By application, the market is segmented into genomics, chemoinformatic & drug design, proteomics, transcriptomics, metabolomics. By specialty, the market is segmented into medical, animal, plant, environment, forensic. By end user, the market is segmented into academic institutions & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, CROs. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Bioinformatics Services Market Analysis by Application
In 2022, the genomics segment is the dominant segment of the market, accounting for a market share of over 40%. The genomics segment is being driven by the increasing demand for genomic data analysis in drug discovery, clinical research, and personalized medicine.
The transcriptomics segment is the growing segment of the market, accounting for a market share of over 25% in 2022. The transcriptomics segment is being driven by the increasing demand for transcriptomic data analysis in gene expression profiling, disease diagnosis, and drug development.
Bioinformatics Services Market Analysis by End User
The academia segment is accounting for a market share of over 40% in 2022. The dominant segment in the end-use segment of the global bioinformatics services market is the academia segment. This is because academia is the leading source of new research in the field of bioinformatics. Bioinformatics is used to analyze large datasets of biological data, such as genomic data, transcriptomic data, and proteomic data. This data can be used to identify new genes, proteins, and pathways, and to understand the molecular basis of diseases.
The pharmaceutical and biotechnology companies’ segment is the fastest-growing segment of the market, and is expected to grow at a CAGR of 17.5% from 2021 to 2030. This is because the pharmaceutical and biotechnology industries are increasingly using bioinformatics to develop new drugs and therapies.
Global Bioinformatics Services Market By Application
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Bioinformatics Services Market Regional Insights
North America dominates the bioinformatics services market, accounting for over a third of the total revenue. This is primarily due to a well-defined regulatory framework that encourages industry participation, leading to increased revenue generation. The simultaneous development of next-generation sequencing and chemical laboratories in the region has had a significant impact on the high penetration of drug discovery-based informatics services, further driving revenue growth.
The Asia Pacific region is expected to witness the fastest growth in the bioinformatics services market, with a double-digit expected growth rate. This growth can be attributed to the improvement in healthcare infrastructure and the development initiatives undertaken by pharmaceutical companies operating in the region. The Asia Pacific region serves as a significant patient pool, particularly for infectious diseases, which is expected to drive the growth of the bioinformatics services sector in the region.
Global Bioinformatics Services Market By Geography
- Largest
- Fastest
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Bioinformatics Services Market Dynamics
Bioinformatics Services Market Drivers
Advancements In Genomics And Proteomics Research
- There is a growing emphasis on personalized medicine, which aims to provide tailored healthcare solutions based on an individual's genetic makeup and unique characteristics. Bioinformatics services play a crucial role in analyzing and interpreting genomic data to identify biomarkers, predict disease risk, and optimize treatment plans. The rising demand for personalized medicine is driving the adoption of bioinformatics services in both research and clinical settings.
- The advancements in genomics and proteomics research have led to the generation of massive amounts of biological data. Bioinformatics services offer the computational tools and algorithms necessary to store, manage, analyze, and interpret this complex data. The ability to handle and extract meaningful insights from genomics and proteomics data is driving the demand for bioinformatics services across academic, pharmaceutical, and biotechnology research sectors.
Bioinformatics Services Market Restraints
Data Complexity And Quality
- Bioinformatics services heavily rely on vast amounts of genomic and proteomic data. However, the complexity and heterogeneity of biological data pose challenges in terms of standardization, integration, and quality control. Incomplete or inconsistent data can lead to erroneous results and hinder the accurate interpretation of biological phenomena, impacting the effectiveness of bioinformatics services.
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Bioinformatics Services Market Competitive Landscape
These participants are engaging in strategic collaborations with various information technology companies to strengthen their market presence by offering customers improved information management solutions.
Bioinformatics Services Market Top Player’s Company Profiles
- PerkinElmer, Inc. (United States)
- Agilent Technologies, Inc. (United States)
- Eurofins Scientific (Luxembourg)
- Waters Corporation (United States)
- Partek Incorporated (United States)
- Biomax Informatics AG (Germany)
- DNASTAR, Inc. (United States)
- Geneious (New Zealand)
- CLC bio (Qiagen) (Denmark)
- Genedata AG (Switzerland)
- Accelrys (Dassault Systèmes) (United States)
- Active Motif, Inc. (United States)
- Compugen Ltd. (Israel)
- BioTeam, Inc. (United States)
- BGI (China)
- Genomatix Software GmbH (Germany)
- Nonlinear Dynamics (Waters Corporation) (United Kingdom)
- Seven Bridges Genomics, Inc. (United States)
- CytoGenomics Inc. (United States)
Bioinformatics Services Market Recent Developments
- In March 2023, Agilent Technologies announced the launch of its new bioinformatics software suite, Agilent Genomics Studio. Agilent Genomics Studio provides researchers with a comprehensive set of tools for analyzing genomic data.
- In February 2023, Thermo Fisher Scientific announced the acquisition of PathoGenesis Corporation. PathoGenesis is a leading provider of bioinformatics services for the clinical diagnostics market. This acquisition will help Thermo Fisher to expand its bioinformatics offerings and to better serve the needs of its customers in the clinical diagnostics market.
- In January 2023, Illumina, Inc. announced the launch of its new cloud-based bioinformatics platform, Base Space. Base Space provides researchers with a comprehensive set of tools for managing, analyzing, and sharing genomic data.
Bioinformatics Services Key Market Trends
Rise Of Cloud-Based Bioinformatics Solutions
- Cloud computing is gaining traction in the bioinformatics domain. Cloud-based bioinformatics services offer scalability, cost-effectiveness, and ease of data access and collaboration. Researchers can leverage cloud platforms for data storage, analysis, and sharing, overcoming limitations associated with on-premises infrastructure.
Bioinformatics Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the global bioinformatics services market has experienced significant growth and holds immense potential for the future. Bioinformatics services play a crucial role in the analysis and interpretation of biological data, driving advancements in genomics, proteomics, personalized medicine, and drug discovery. Several factors contribute to the growth of the market, including the increasing demand for personalized medicine, advancements in genomics research, and the integration of artificial intelligence and machine learning algorithms. The rise of cloud-based solutions and the emphasis on data management and interoperability further fuel market expansion. Moreover, the adoption of bioinformatics services is witnessing rapid growth in emerging markets, driven by supportive government initiatives and investments. Overall, the global bioinformatics services market is poised for continuous growth as it becomes increasingly integral to advancing research, developing targeted therapies, and improving healthcare outcomes in the field of life sciences.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.9 billion |
| Market size value in 2031 | USD 8.14 billion |
| Growth Rate | 15.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bioinformatics Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bioinformatics Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bioinformatics Services 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 Services 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bioinformatics Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bioinformatics Services 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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