The report titled “Bioinformatics Market- Growth, Future Prospects, and Competitive Analysis, 2023 – 2030” offers strategic insights into the overall bioinformatics market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on types of products & services, applications, and different geographies. Bioinformatics helps to carry out processes such as recovery, storage, processing, management, and analysis of organic information through statistical techniques coupled with modern information and technology base. In the modern world of drug innovation and development, bioinformatics plays a key role in data storage, data recovery, data analysis, and efficient management of biological information to study the process of drug development. The global bioinformatics market was segmented on the basis of applications, products and services, and regions. On the basis of products & services, the bioinformatics market was further segmented as bioinformatics platforms, bio content management tools, and bioinformatics services. The application segmented was further bifurcated into genomics, molecular phylogenetics, metabolomics, transcriptomics, proteomics, chemoinformatics & drug designing, and others.
For the purpose of this study, the global bioinformatics market on the basis of products & services is segmented into bioinformatics platforms, bio content management tools, and bioinformatics services. Market size estimates and forecast for these segments for the period 2020 to 2030 are provided in terms of US$ Mn along with the respective compounded annual growth rates (CAGRs) for the period 2020 to 2030, considering 2019 as the base year.
The bioinformatics market was valued at US$ 14.58 Bn in 2021, and is expected to reach US$ 59.50 Bn by 2030, expanding at a CAGR of 15.1% from 2023 to 2030.
On the basis of application type global bioinformatics market is segmented as genomics, molecular phylogenetics, metabolomics, transcriptomics, proteomics, chemoinformatics & drug designing, and others. Market size estimates and forecast for these segments for the period 2020 to 2030 are provided in terms of US$ Mn along with the respective compounded annual growth rates (CAGRs) for the period 2023 to 2030, considering 2021 as the base year.
The bioinformatics market has been geographically categorized into major regions such as North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments from 2020 to 2030 and their CAGRs for the period 2020 to 2030 are provided in this report.
The bioinformatics market is observed as the most diversified and competitive market comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are BIOVIA (Accelrys Inc.), IBM Life Sciences, 3rd Millennium Inc., Life Technologies Corporation, Rosetta Biosoftware, Agilent Technologies, Affymetrix, Inc., Celera Corporation, and others.
Based on the type of products & services, the global bioinformatics market is segmented as follows:
In 2020, the bio content management tools segment was observed as the largest products & services segment, accounting for 40% of the overall market. The key factors assisting the market are the growing application rate of bioinformatics tools and software in database management. During the forecast period 2023 – 2030, bioinformatics platforms are expected to grow significantly due to the increasing demand for sequence analysis platforms and other biotechnology applications. In addition, the growth of the bioinformatics platform is due to the reduced turnaround time for data processing, identification of sequence match, and phylogenetic analysis. The market experts suggested that there are several opportunities for bioinformatics in upcoming technologies such as nanopore-sequencing and cloud computing. For efficiently managing huge databases related to drug innovation and development bioinformatics assists in storing, retrieving, analyzing, and formation of collective information.
Based on the type of application, the global bioinformatics market is segmented as follows:
Bioinformatics has a wide range of several applications; in the year 2020 genomics dominated the market with over 24% share due to the rising need for pharmacogenomics in the process of drug development and gene sequencing. It was observed that in the field of bioinformatics introduction of technological advancements was largely carried out focusing management of large datasets involved in genomics. During the forecast period 2023 – 2030, the chemoinformatics & drug designing segment was expected to grow at a significant growth rate due to rising demand in biomarker discovery and development. In the latter stages of clinical trials majority of the drugs fail which leads to a huge loss of investments; however, after post introduction of bioinformatics the R&D expenditure rate has been reduced and has also helped to reduce clinical trial failure to a noticeable extent.
In the base year 2020, North America accounted for over 40% and expected to retain its dominance throughout the forecast period. The key factors assisting the growth of the North American market are the availability of accessible and advanced healthcare infrastructure coupled with the presence of technologically advanced IT companies. North America records the world’s highest number of clinical trials and research and development which generates a huge amount of database. Europe is the second-largest bioinformatics market and its growth is assisted due to the existence of technologically advanced healthcare infrastructure and research facilities coupled with huge research and development activities carried out by leading pharmaceutical and biotechnology companies. During the forecast period 2023 - 2030, Asia Pacific is expected to witness significant growth due to factors such as growing demand for clinical research outsourcing in the emerging markets of India and China, developing healthcare and research infrastructure, and it’s a base of several established and budding IT companies.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bioinformatics market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Products & Services
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Applications
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
