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The bioinformatics market size is forecast to increase by USD 8.53 billion at a CAGR (Compound Annual Growth Rate) of 13% between 2022 and 2027. The growth of the market depends on several factors, including the reduction in the cost of genetic sequencing, increasing demand for protein sequencing, and emerging techniques for genome analysis. The advances and the completion of the Human Genome Project (HGP) in 2003 have led to a significant reduction in the cost of genetic sequencing. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the market growth analysis report includes historic market data from 2017 to 2021.
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The market is propelled by advancements in virus variability analysis, diagnostic methods, and DNA sequencing technologies. Companies like Illumina, Eurofins Scientific, and BGI are pioneering innovations in genomic research, facilitating the development of vaccines and precision medicine solutions. Collaboration between research institutions and healthcare enterprises, such as Brunei’s Ministry of Health and Healthcare Global Enterprises, underscores the global effort to leverage bioinformatics for improved healthcare outcomes.
The market is witnessing substantial growth, driven by increased investments from both public and private sectors. Precision medicine and genome sequencing advancements are key focal points, with rising demand for genomics instruments and NGS technologies. Emerging markets are embracing bioinformatics for transcriptomics and sequencing applications. Amidst virus variability concerns, computational technology aids in research platforms for transmission chain analysis. Public health entities prioritize containment measures and diagnostic methods, spurring market expansion. Leading players like Illumina, Eurofins Scientific, and BGI play pivotal roles, supported by innovative firms such as NanoString and Strand Life Sciences. Collaboration, exemplified by Brunei’s Ministry of Health, accelerates bioinformatics innovation globally. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Reduction in the cost of genetic sequencing notably drives the market growth during the forecast period. Advanced genomic sequencing technologies such as NGS have significantly reduced the cost of performing sequential studies and provide high-variant detection power and sensitivity by enabling multiple sequencing. For example, NGS can determine millions of fragments per run and provide cost benefits by avoiding running multiple sequencing cycles.
The reduced cost increases the propensity of R&D, positively impacting the growth of the global market. Furthermore, factors such as the advent of NGS, deoxyribonucleic acid (DNA) microarray, and CRISPR have brought a paradigm shift in genomic sequencing and editing procedures by enabling targeted and high-throughput sequencing and multiplexing. Hence, such factors drive market growth for during the forecast period.
The development of sophisticated tools for NGS is an emerging bioinformatics market trend influencing market growth. A key tool used for DNA sequencing is Oxford Nanopore MinION, which helps identify virus mutations and track their evolutionary history by enabling real-time, on-site DNA sequencing.
Furthermore, although DNA sequencing technologies are developing rapidly as well as have increased the availability of robust commercial platforms, analyzing the data obtained through NGS remains an enormous task. Various companies now offer commercial solutions for NGS, which address the issues associated with the scale of analysis and the need for command-line computer languages. Hence, such market trends and analysis boost the market.
A shortage of trained laboratory professionals is a major challenge hindering the growth of the market during the forecast period. Like any other field, the field of medical laboratory science is affected by severe workforce shortages with personnel shortages raising concerns about laboratory staff workload and turnover. Additionally, personnel turnover is also an increasing problem.
Processes involved require careful application of reagents and handling of apparatus. Moreover, the interpretation of results becomes increasingly important, as well as researchers must be aware of what analysis to conduct and how to correlate it with the overall objective of the experiment. For example, before beginning a protein crystallization experiment, researchers must consider the molecular weight of the protein, the buffer solution required for the experiment, and the stability of the protein. Therefore, such a shortage of trained professionals impedes market growth during the forecast period.
The Market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the application segment of the market, public and private-sector funding plays a pivotal role in driving advancements. Pharma biotech R&D expenditure continues to fuel innovations, particularly in genome sequencing and transcriptomics research. Despite challenges like equipment costs, NGS technologies and genomics instruments are facilitating breakthroughs in understanding complex biological processes. Emerging markets are increasingly adopting computational technology to study viruses and analyze transmission chains. Research platforms are vital for public health control, enabling the implementation of containment measures and informed decision-making in disease management strategies.
The market share growth by the molecular phylogenetics segment will be significant during the forecast period. Molecular phylogenetics is a branch that involves the use of molecular data to study the evolutionary relationships among species. This technique revolutionizes the field of biology by providing a more accurate and detailed understanding of the relationships among living organisms. Molecular phylogenetics is an important tool that plays a significant role in many research areas, including drug discovery, disease diagnosis, and conservation biology, in the global market.
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The molecular phylogenetics segment was valued at USD 3.54 billion in 2017 and continued to grow until 2021. By studying the evolution of proteins and enzymes, researchers can identify potential drug targets and develop more effective drugs with fewer side effects, which has led to the development of new treatments for a wide range of diseases, including cancer, malaria, and HIV. Additionally, molecular phylogenetics is used in many other research areas. Hence, such applications boost the segment growth during the forecast period.
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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. A major factor driving the growth of the market in North America is the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases.
It is a leading region in the global market, with a significant market share. The region is driven by the growing demand solutions from research organizations and pharmaceutical companies. The North American region has a well-established healthcare industry, advanced research infrastructure, and many top-tier research universities contributing to regional market growth.
The market is witnessing rapid expansion driven by substantial public and private-sector funding and the growing focus on precision medicine. Increased pharma biotech R&D expenditure is fueling advancements in genome sequencing technologies, despite challenges such as high equipment costs. Next-generation sequencing (NGS) technologies and genomics instruments are playing pivotal roles in genomic research, particularly in emerging markets. Bioinformatics tools facilitate the analysis of vast datasets, including transcriptomics data, aiding in understanding diseases caused by viruses and other pathogens. Computational technology and sophisticated research platforms enable the study of virus variability and the development of vaccines and diagnostic methods. Notable players in this market include organizations like BGI, NanoString, and Indivumed GmbH, supported by initiatives such as those led by Brunei’s Ministry of Health and Healthcare Global Enterprises.
The market is at the forefront of revolutionizing healthcare and biological research, driven by advancements in nucleic acid sequencing and molecular biology. It plays a crucial role in understanding disease transmission chains and implementing effective public health control and containment measures. Through the analysis of RNA and identification of disease biomarkers, bioinformatics enables the development of innovative therapeutic strategies. Big data analysis techniques are employed for comprehensive genomic and proteomic research, facilitating drug development and gene therapy. Organizations like Strand Life Sciences and ATCC contribute significantly to database development and the provision of biological materials, including animal and human cell lines. Foundations like the Gates and Melinda Foundation support initiatives aimed at leveraging bioinformatics for global health improvements.
The market is witnessing remarkable growth, fueled by the demand for personalized medicine and advancements in clinical diagnostics. As biotechnology and pharmaceutical industries continue to innovate, companies like NeoGenomics Laboratories, Partek Incorporated, and SOPHiA Genetics are leading the charge with cutting-edge solutions such as HostSeq and VirusSeq. However, concerns over patient data confidentiality persist, driving the need for robust security measures. Amidst the pandemic (SARS-CoV-2), bioinformatics plays a pivotal role in deciphering the virus's genetic code and developing effective diagnostic tools. With continuous technological advancements and product innovations, the bioinformatics sector is poised for further expansion and impact on global healthcare.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Bioinformatics Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13% |
Market growth 2023-2027 |
USD 8.53 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.86 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 44% |
Key countries |
US, Canada, Germany, UK, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agilent Technologies Inc., Azenta Inc., Bio Rad Laboratories Inc., Biomax Informatics AG, DNASTAR Inc., Eurofins Scientific SE, Fios Genomics Ltd., Genedata AG, Geneva Bioinformatics SA, Illumina Inc., Partek Inc., Perkin Elmer Inc., Precigen Inc., QIAGEN NV, Quest Diagnostics Inc., Seven Bridges Genomics Inc., Source BioScience, Thermo Fisher Scientific Inc., Waters Corp., and ZS Associates Inc. |
Market dynamics |
Parent market analysis, Market growth and trends and inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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