#bioinformatics market

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Bioinformatics Market to Reach $31.71 Billion by 2031

Introduction to Bioinformatics Market Dynamics

Meticulous Research® has recently published a comprehensive research report titled “Bioinformatics Market Size, Share, Forecast, & Trends Analysis By Solutions & Services (Knowledge Management, Sequence Analysis, Data Analysis), Application (Genomics, Metabolomics, Transcriptomics), Industry (Health, Agriculture) – Global Forecast to 2031.” This report details a promising outlook for the bioinformatics sector, projecting a compound annual growth rate (CAGR) of 13.4% from 2024, with an anticipated market size reaching $31.71 billion by 2031.

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Drivers of Market Growth

Several factors contribute to the robust growth trajectory of the bioinformatics market. The biotech and pharmaceutical industries are experiencing unprecedented growth, which is fostering increased investments and innovations in bioinformatics technologies. Initiatives supporting genomics research play a crucial role in this expansion, providing the necessary infrastructure and funding to explore genomic data in greater detail.

The pressing need for novel drug development is another pivotal factor driving market growth. As healthcare challenges evolve, the demand for new therapeutics that are effective and tailored to individual patient profiles becomes imperative. Bioinformatics offers the analytical capabilities to sift through vast datasets, enabling researchers to identify potential drug candidates and expedite the drug development process.

Challenges Hindering Growth

Despite its positive outlook, the bioinformatics market faces significant challenges, primarily the interoperability limitations of bioinformatics analytical platforms. The existence of multiple data types often complicates data integration, hampering the ability to generate cohesive analyses. Additionally, concerns surrounding data privacy and confidentiality are critical issues that need addressing as sensitive genomic information is increasingly shared and analyzed. Furthermore, a shortage of skilled bioinformaticians poses a significant barrier to market advancement, as organizations struggle to find qualified professionals capable of leveraging complex bioinformatics tools and methodologies.

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Emerging Opportunities

While challenges exist, numerous opportunities lie ahead for players in the bioinformatics market. Emerging economies present untapped markets ripe for growth, particularly as the demand for genomic technologies in clinical applications continues to rise. Moreover, the agricultural sector is increasingly leveraging bioinformatics to enhance crop yields, develop pest-resistant varieties, and improve food security. This intersection of technology and agriculture represents a significant growth avenue for bioinformatics solutions.

Key Players in the Bioinformatics Landscape

Leading the bioinformatics market are key players such as Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), and several others. These companies are at the forefront of developing innovative solutions that cater to the diverse needs of the bioinformatics sector. They are continually investing in research and development to enhance their offerings, ensuring they remain competitive in a rapidly evolving market.

Market Segmentation and Trends

The bioinformatics market is segmented based on solutions and services, applications, industries, and geography. In terms of solutions and services, the market includes knowledge management software, bioinformatics platforms, and various data services. It is anticipated that the knowledge management software segment will dominate the market in 2024. This is largely due to the expansion of genomic datasets and the growing adoption of precision medicine, which requires advanced software solutions to manage and analyze large volumes of data effectively.

Artificial intelligence (AI) and machine learning (ML) technologies are making significant inroads in bioinformatics. These technologies are enhancing knowledge management software, enabling more sophisticated data mining and analytical capabilities. This evolution allows researchers to uncover intricate patterns within vast datasets, ultimately leading to breakthroughs in genomics and drug discovery.

When examining applications, the bioinformatics market is segmented into genomics, chemoinformatics, proteomics, transcriptomics, metabolomics, and others. The proteomics segment is poised for the fastest growth during the forecast period, driven by the increasing emphasis on protein analysis in understanding various diseases, including cancer and neurodegenerative disorders. Recent research highlighting specific protein biomarkers linked to diseases underscores the significance of proteomics in early diagnosis and treatment strategies.

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Industry Insights

Analyzing the bioinformatics market by industry reveals that healthcare is expected to maintain the largest market share in 2024. This is attributed to the substantial investments in research and development by pharmaceutical and biotech firms, particularly in the realms of drug development and precision medicine. Precision medicine tailors treatments based on a patient’s genetic makeup, heralding a new era in healthcare that emphasizes individualized patient care. As such, the increasing adoption of personalized medicine approaches will likely drive the demand for bioinformatics solutions.

Geographic Overview

The report also provides a detailed geographic analysis of the bioinformatics market, covering regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the market due to favorable governmental policies supporting genomic research, the declining cost of sequencing technologies, and a rising prevalence of chronic diseases. The combination of these factors positions North America as a leader in bioinformatics, paving the way for continued innovation and market growth.

Conclusion: Future of Bioinformatics

In summary, the bioinformatics market is poised for significant growth, driven by advancements in biotechnology, rising healthcare demands, and evolving applications in various industries. While challenges such as interoperability and a skills shortage persist, the opportunities presented by emerging markets and technological innovations offer a promising outlook. As key players continue to innovate and expand their offerings, the future of bioinformatics looks bright, with the potential to transform healthcare and various other sectors.

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Exploring Global Bioinformatics Market: Regional Insights and Growth Opportunities

The global bioinformatics market was valued at USD 10.1 billion in 2022 and is projected to experience substantial growth, with an estimated compound annual growth rate (CAGR) of 13.7% from 2023 to 2030. The primary factors driving this market's expansion include increasing demand for bioinformatics tools in novel drug research and development (R&D), as well as rising investments from both private and public funding sources aimed at supporting research activities.

One of the key drivers of growth in the bioinformatics market is the increasing emphasis on drug discovery and the development of new therapeutics. Bioinformatics tools and software play a crucial role in advancing the drug development process, offering efficient ways to analyze biomarkers and identify potential drug targets. Additionally, these tools are integral in the early stages of drug discovery, particularly in the detection of toxicity—a critical aspect of ensuring the safety and efficacy of new drugs. The adoption of bioinformatics solutions for these purposes is expected to continue to grow, supporting the industry's growth over the forecast period.

With the continuous advancement of technologies in genomics, proteomics, and other -omics fields, the demand for bioinformatics solutions is expected to grow. Increased R&D initiatives and the need for improved data management and analysis solutions will continue to drive bioinformatics market growth. As the volume of biological data increases, the market will require more advanced software and analytical platforms capable of handling these large datasets efficiently.

The market is also likely to benefit from ongoing developments in bioinformatics, as research organizations and pharmaceutical companies push forward in efforts to streamline drug discovery, improve clinical trial processes, and enhance personalized medicine. These advancements will further accelerate the demand for bioinformatics solutions, fueling the market's growth over the coming years.

Gather more insights about the market drivers, restrains and growth of the Bioinformatics Market

Regional Insights

North America

North America led the global bioinformatics market in 2022, capturing a significant 43.6% of the market revenue. The primary contributors to this dominant market share are the United States and Canada, which host numerous prestigious research organizations, universities, and bioinformatics companies. These institutions are at the forefront of driving innovation in molecular biology, genome sequencing, and bioinformatics technologies. The region’s strong investment in research and development (R&D), particularly in emerging areas like genomic research and precision medicine, is expected to further propel the market.

A key example of this development is the launch of a bioinformatics platform by LatchBio, a biotechnology startup based in California. The platform, introduced in June 2022, is designed to handle large biotech datasets, enhancing the ability to accelerate scientific discovery and supporting genomics research. This growth in R&D, coupled with strong industry infrastructure, is expected to maintain North America's leadership in the bioinformatics market throughout the forecast period.

In addition to molecular biology and genome sequencing, the region’s demand for bioinformatics solutions is supported by the growing application of these technologies across a variety of sectors, including pharmaceuticals, healthcare, agriculture, and environmental studies. As technological advancements continue, the region is well-positioned to sustain its growth and further innovate in the bioinformatics space.

Asia Pacific

Asia Pacific is set to emerge as the fastest-growing market, with a projected CAGR of 18.4% from 2023 to 2030. Several factors contribute to the rapid expansion of the bioinformatics industry in this region, including a highly skilled workforce, growing investments in the IT sector, and an increasing demand for bioinformatics outsourcing services. Many countries in the Asia Pacific region are also significantly improving their capabilities to handle bioinformatics data analysis, making them key players in the global market.

Government policies in the region play a pivotal role in accelerating bioinformatics growth. For example, China has initiated programs such as the China Precision Medicine Initiative and the China National GeneBank, both of which aim to enhance genomic research and apply bioinformatics to improve healthcare outcomes. These initiatives underscore the region’s commitment to advancing bioinformatics and using it to make strides in areas like personalized medicine and public health. Additionally, countries like India and South Korea are also strengthening their bioinformatics infrastructure by promoting innovation and investing in education and technology. These supportive government programs are expected to boost bioinformatics adoption across the region.

As Asia Pacific’s IT and healthcare industries continue to grow, the demand for bioinformatics tools and platforms is expected to surge. These regions, particularly China, India, and South Korea, are anticipated to become significant hubs for bioinformatics outsourcing, providing services and solutions to developed economies. The combination of highly trained bioinformaticians, strong government backing, and an expanding biotech ecosystem is set to propel the region to the forefront of the global bioinformatics market.

Browse through Grand View Research's  Biotechnology Industry Research Reports.

• The global proteomics market size was estimated at USD 24.29 billion in 2023 and is projected to grow at a CAGR of 13.10% from 2024 to 2030. 

• The global genomics market size was valued at USD 32.65 billion in 2023 and is projected to witness a compound annual growth rate (CAGR) of 16.5% from 2024 to 2030.

Key Companies & Market Share Insights

Leading players in the bioinformatics market are heavily focused on advancing genetic and proteomic sequencing technologies to enhance the capabilities of DNA and RNA sequencing. The development of next-generation sequencing (NGS) technologies is a major growth driver for the bioinformatics industry, as these advancements promise to reduce the costs and improve the efficiency of genome sequencing.

For instance, in March 2021, Agilent Technologies Inc. launched the SureSelect system, a highly customizable and robust platform designed for the analysis of the human exome. This technology helps to refine and streamline sequencing processes, enabling more accurate and cost-effective analysis in genomics research.

Similarly, in January 2020, Charles River Laboratories Inc. entered into a collaboration with Fios Genomics, gaining access to the latter’s expertise in bioinformatics and biology. This partnership enables Charles River to enhance its capabilities in genetic research and expand its service offerings in bioinformatics, further strengthening its position in the growing market.

In another significant development, Illumina, a global leader in genomic technology, announced the launch of a cloud-based bioinformatics platform in January 2021. This platform is designed to streamline data analysis in genomics and has been integrated with the Pan-Cancer IVD Test to enhance the detection and monitoring of cancer. By combining bioinformatics with cutting-edge technologies, Illumina aims to revolutionize cancer detection and support the ongoing efforts in personalized medicine.

Key Bioinformatics Companies

Following are some of the major players in the global bioinformatics market:

• DNAnexus Inc.

• Seven Bridges Genomics

• BGI Group

• Partek Inc.

• Thermo Fisher Scientific

• Qiagen

• Agilent Technologies

• Illumina

• PerkinElmer

Order a free sample PDF of the Bioinformatics Market Intelligence Study, published by Grand View Research.

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Bioinformatics Is Estimated To Witness High Growth Owing To Increasing Application In Healthcare And Pharmaceuticals

Bioinformatics is a multidisciplinary field that develops methods and software tools for understanding biological data, in particular when annotation, analysis, or prediction are involved. It has applications in different areas of life sciences including molecular biology, genetics, pharmacology, computer science, physics and mathematics. Some of the common areas where bioinformatics tools and platforms are applied include sequence analysis, gene expression, proteomics, drug design, disease diagnosis, drug discovery and personalized medicine. It involves the coding, storage, and analysis of nucleic acid sequences, amino acid sequences, and biomolecular structures. The global bioinformatics market is estimated to be valued at US$ 22.1 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: One of the key drivers boosting the growth of bioinformatics market is the increasing applications in healthcare and pharmaceuticals. With the fast paced advancement in biotechnology and genomics, there has been a surge in omics data generated which requires storage, management and analysis capabilities. Bioinformatics tools help researchers understand disease pathways, develop new therapeutic strategies through computational methods. They also aid in analyzing next generation sequencing data for understanding disease mutations, personalized treatment options. Additionally, bioinformatics plays a vital role in reducing time and cost involved in drug discovery and development through in silico techniques like molecular modeling and simulations. This is encouraging pharmaceutical companies to invest more in bioinformatics solutions. SWOT ANALYSIS STRENGTH: Bioinformatics market is growing rapidly due to advancements in AI, machine learning and Big data analytics. This has enabled development of effective bioinformatics tools and software for data integration and analysis of large genomics and proteomics datasets. Growing implementation of EHR and other healthcare IT solutions also provides a strong platform for bioinformatics applications. Increased computational capabilities allow understanding biology at molecular level for development of personalized medicine. WEAKNESS: Lack of trained and skilled workforce remains a challenge for growth of bioinformatics sector. High costs associated with establishment and maintenance of required computing infrastructure is also a barrier. Regulatory issues and data privacy continue to be areas of concern restricting widespread adoption. OPPORTUNITY: Growing R&D investments from pharmaceutical and biotech companies for drug discovery offers significant growth prospects. Increased focus on precision medicine will boost demand for specialized bioinformatics solutions. Also, integration of various 'omics' datasets provide opportunities for developing novel analytics and applications. Adoption in developing regions remains untapped. THREATS: Competition from open source alternatives poses pricing pressure. Healthcare reforms and budget cuts can impact investments. Technological changes can quickly render existing solutions obsolete requiring continued upgradation. Dependence on third party service providers increases risks. KEY TAKEAWAYS The global bioinformatics market size is expected to witness high growth over the forecast period driven by rising genomics research and focus on precision medicine. The global bioinformatics market is estimated to be valued at US$ 22.1 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period of 2023 to 2030.

Regional analysis suggests North America currently dominates owing to presence of many leading pharmaceutical and biotech companies and research institutions. Asia Pacific is anticipated to be the fastest growing region on back of growing R&D spending, government initiatives and increasing adoption of advanced healthcare IT in countries like China and India. Key players operating in the bioinformatics market are The 3M Company, Dow Corning Corporation, Honeywell International, Inc., Indium Corporation, Henkel AG & Co, KGaA, Parker Chomerics, Laird Technologies, Inc., Momentive Performance Materials, Inc., Fuji Polymer Industries, Co. Ltd., and Shin-Etsu Chemical Co. Ltd. The bioinformatics market size for 2024 is estimated to reach US$ 22.1 Bn registering a CAGR of over 10% between 2023-2030.

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Freelancing in Biology

Freelancing is a flexible and profitable career option in today’s digital age, especially in areas that demand expertise, such as biology. Whether you’re a student, graduate or a professional biologist, freelancing offers you the opportunity to earn money by using your knowledge and working from anywhere. In this article we’ll tell you how to do freelancing in biology, what skills are needed and how to market yourself.

Freelancing in biology can be an interesting and rewarding career option. If you specialize in scientific research, writing, data analysis or educational content, you can find work from around the world using your expertise. Market yourself, create network and always be ready to learn new ways.

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Content Writing and Scientific Communication

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Bioinformatics Market - Forecast(2024 - 2030)

Bioinformatics Market Overview

Bioinformatics Market size was valued at $8.3 billion in 2020, growing at a CAGR of 12.4% during the forecast period 2021-2026. The recording, annotation, storage, analysis, and retrieval of nucleic acid sequence, protein sequence, and structural information are all covered by bioinformatics. Proteomics is the study of proteomes on a vast scale. A proteome is a collection of proteins made by a living creature, system, or biological milieu. Single nucleotide polymorphisms (SNPs) is a useful tool for determining the genetic basis of disease. In genome-wide association studies and fine-scale genetic mapping initiatives, these variants can be utilized as markers. Bioinformatics applications include molecular therapeutics, metabolomics, and proteomics, to name a few. It's also used in genetics and genomics research. The combination of biology and information technology is referred to as "bioinformatics." Computer software tools are used in bioinformatics to create, administer, and develop databases. Data warehousing, data mining, and communication networking all use it. Furthermore, it is frequently utilized in the field of medical research and medication development for the management of biological data. The worldwide Bioinformatics Market is predicted to develop owing to the high frequency of chronic diseases. According to the American Cancer Society, it was expected to have 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States year 2019.

Bioinformatics Market Report Coverage                                                                    

The report: “Bioinformatics Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Bioinformatics Market.

By Products & Services: Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services By Application: Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, and Others By Sector: Animal Biotechnology, Medical Biotechnology, Forensic Biotechnology, Plant Biotechnology, Environmental Biotechnology, Others By Geography: North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina & Rest of South America) and Rest of the World (Middle East & Africa)

Key Takeaways

A single nucleotide polymorphism, or SNP (pronounced "snip"), is a difference in the DNA sequence at a single place between individuals. DNA is made up of a chain of four nucleotide bases: A, C, G, and T.

The rise in bioinformatics platform application can be ascribed to an increase in demand from life science companies for structural identification and customization. This, in turn, would aid in the development of drugs and the assessment of their therapeutic effects. Furthermore, as drug research and discovery become more efficient and safe, the demand for new tools in drug development grows. As a result, the Bioinformatics Market is likely to grow in the future.

A detailed analysis of the main players functioning in the Bioinformatics Market's Strengths, Weaknesses, and Opportunities will be provided in the report.

Bioinformatics Market Segment Analysis – By Products & Services:

Based on Products & Services, Bioinformatics Market is segmented into Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. The Bioinformatics Platforms segment is accounted for the largest revenue market share in 2020 for Bioinformatics Market owing to an increase in platform applications and the demand for better tools in drug development. This trend is expected to continue during the projected period. The study of evolutionary history, development, and relationships among organisms using molecular sequence or structural data is known as molecular phylogenetics (DNA, RNA, or proteins). The Knowledge Management Tools segment is poised to grow with the fastest CAGR of 13.6% in the forecast period 2021-2026. Researchers utilize knowledge management technologies to deal with vast amounts of diverse data. This data comprises both experimental data and data acquired from publicly available repositories. Data management, data warehousing, data mining, and information retrieval are all functions of knowledge management technologies. By comparing them to available databases, these functions aid in understanding the structure of genes and proteins, as well as the implications of mutations.

Bioinformatics Market Segment Analysis – By Sector:

Based on Sector, Bioinformatics Market is segmented into Animal Biotechnology, Medical Biotechnology, Forensic Biotechnology, Plant Biotechnology, Environmental Biotechnology, Others. In 2020, the medical biotechnology segment accounted for the largest revenue market share for Bioinformatics Market. The use of bioinformatics in clinical diagnostics is primarily driven by the development of new databases for drug discovery, the use of bioinformatics for clinical diagnostics, and increased funding for the development of bioinformatics solutions for clinical diagnostics, all of which are contributing to the growth of the medical biotechnology segment in the market. Metabolomics is the study of all or a large number of biological metabolites on a global scale. Metabolomics, like other types of functional genomics research, generates a lot of data. Handling, processing, and analyzing this data is a significant undertaking that necessitates the use of sophisticated mathematical, statistical, and bioinformatics software. The Animal Biotechnology segment is predicted to grow with the fastest CAGR of 13.8% in the forecast period 2021-2026. In the veterinary sciences, it has become an essential tool for both basic and applied research. Bioinformatics has advanced veterinary research by introducing new tools for identifying vaccination targets based on the sequencing of biological data from organisms.

Bioinformatics Market Segment Analysis – By Geography

Based on Geography, North America Bioinformatics accounted for the 35% revenue share in 2020. The Bioinformatics Market in this region is growing owing to the government funding for genetic research, the existence of prominent bioinformatics providers, decreasing sequencing prices, improved awareness of bioinformatics services, and an increase in the number of genomic research activities. It has a good funding scenario for research activities. This regional market is characterized by increased government initiatives for genomic testing reimbursement and a favorable financing scenario for bioinformatics research activities. A large number of healthcare investments in the European region is expected to fuel the Bioinformatics Market. Furthermore, the increased adoption of IoT technologies in this industry is likely to have a beneficial impact on regional market growth. With a EUR 20 million investment, the UK government started the COVID-19 Genomics UK Consortium (COG-UK) in March 2020 to sequence the genomes of SARS-CoV-2, the virus responsible for the current COVID-19 pandemic, using whole-genome sequencing (WGS). The NHS, Public Health Agencies, the Wellcome Sanger Institute, and numerous university institutions make up the COVID-19 Genomics UK Consortium (COG-UK).

Bioinformatics Market Drivers

The Occurrence Of Rare Diseases Is Projected To Upsurge Market Growth:

The World Health Organization (WHO) estimates that there are 5,000 to 8,000 different rare diseases in Europe, with 27 million to 36 million people affected. Similarly, new diseases are emerging in other parts of the world that do not yet have a specific prescription treatment. As a result, there is a critical need for novel vaccines and treatments to treat these diseases. These rare diseases, it appears, necessitate a lot of data analytics for diagnosis and treatment, which mostly necessitates bioinformatics and other research methodologies.

The Evolution Of Big Data Technology Is Fueling Bioinformatics Advancement:

Big data has risen to prominence in practically every industry, with a slew of government and private companies using it to boost their bottom lines. In today's world, technology is rapidly evolving, allowing for precise predictive analysis. This steady advancement in big data is fueling the rise of bioinformatics since it allows for a closer examination of current medical issues and the development of new approaches for better treatment.

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Bioinformatics Market 

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Bioinformatics Market Insights: Opportunities and Challenges

The global bioinformatics market was valued at USD 10.1 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030. Several key factors are driving this growth, including the increasing demand for bioinformatics tools and software in novel drug research and development (R&D), as well as both private and public funding initiatives that are aimed at supporting R&D activities. Additionally, the introduction of user-friendly bioinformatics software such as RasMol, AUTODOCK, BALL, and Bioclipse has played a significant role in expanding the market. These software tools are widely used for the accurate analysis of biomarker discovery programs, which help in detecting toxicity during the early stages of the drug development process.

Advancements in DNA sequencing are also contributing to the growth of the bioinformatics market. For example, a study published by Stanford Medicine in January 2022 demonstrated a DNA sequencing technique capable of sequencing a human genome in about 8 hours. Such breakthroughs enhance the demand for genomics, thereby driving the bioinformatics sector. Bioinformatics applications in data storage and analysis are crucial for managing large volumes of genomic and proteomic data, which facilitate research in various fields, including aging, carcinogenesis, and genetic disease prevention. This growing capacity to store and analyze vast amounts of data is expected to significantly contribute to market expansion over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Bioinformatics Market

Product Insights

In terms of product categories, the bio-content management segment held the largest market share in 2022, accounting for 39.6% of the total market revenue. This can be attributed to the widespread use of bioinformatics tools in database management. These tools facilitate efficient data sharing with external databases and resources, thereby promoting data integration across various platforms. Genetic sequence analysis platforms are also poised to experience significant growth, driven by the increased demand for whole-genome sequencing and exome sequencing technologies, which have become more affordable due to reduced sequencing costs.

Bioinformatics is governed by various guidelines set by organizations such as the Human Genome Variation Society (HGVS), the Genomic Data Commons (GDC), and the Minimum Information About a Microarray Experiment (MIAME). Compliance with these standards ensures improved data compatibility, sharing, and collaboration. A noteworthy example of collaboration in this field occurred in April 2022, when ATCC entered into a partnership with Qiagen to share sequencing data from its collection of animal and human cell lines. This partnership aims to create a comprehensive database to aid in the development of therapeutic targets and the understanding of new diseases, which is crucial for both the pharmaceutical and biotechnology industries.

The bioinformatics market is divided into three primary product categories: bioinformatics platforms, bioinformatics services, and bio-content management. Among these, the bioinformatics services segment is expected to grow at the fastest rate, with a projected CAGR of 14.6% during the forecast period. Genomics has been the primary application area for bioinformatics, focusing on the analysis of entire DNA sequences. The increasing availability of genetic data, especially through next-generation sequencing (NGS) technologies, is driving demand for bioinformatics services, both in genomic research and clinical applications.

For instance, in July 2021, the National Institute of Technology in Rourkela, India, launched the Centre for Bioinformatics and Computational Biology (CBCB). This center focuses on the development of biomarkers and therapeutic strategies for various diseases using big data analytics, further boosting bioinformatics research and market growth, particularly in emerging markets.

The bioinformatics platforms segment is also expected to experience significant growth, driven by the increasing volume and complexity of biological data, the growing demand for personalized medicine, and the rise of cloud computing. The adoption of cloud-based platforms in bioinformatics enables better data sharing and collaboration between academic institutions, research organizations, and healthcare providers. Additionally, advancements in sequencing technologies continue to propel the demand for bioinformatics platforms.

Furthermore, the introduction of new and innovative technologies is expected to drive market expansion. For example, in June 2022, My Intelligent Machines (MIMs) launched software designed for drug development in oncology. Similarly, in March 2022, ARUP launched Rio, a bioinformatics analytics platform that streamlines results for next-generation sequencing tests. These developments highlight the increasing integration of bioinformatics into drug discovery and diagnostic workflows, further contributing to the market’s growth.

Order a free sample PDF of the Bioinformatics Market Intelligence Study, published by Grand View Research.

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The Bioinformatics services market size was USD 2.50 billion in 2021 and is expected to register a revenue CAGR of 15.2% over the forecast period. 

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The Asia-Pacific Bioinformatics Market is projected to grow at around 17% CAGR during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the mounting requirements for integrated bioinformatics in proteomic, genomic, & clinical diagnostics, coupled with the surging demand for advanced computational tools in biological research. Furthermore, the extensive presence of organizations providing outsourcing services is also augmenting the growth of the bioinformatics market in Asia-Pacific.

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Bioinformatics Platforms Market is expanding with Dassault Systemes SE acquiring Medidata Solutions to take leverage of Medidata’s cloud-based services to help the development of therapeutic innovations

Developed regions such as North America, typically the U.S. have shown the most promising signs when it comes to the bioinformatics platforms market. This is due to high adoption of new and advanced technology, which is complemented by continuous research and development activates in the region. Similarly, Asia Pacific is witnessing increased interest in the field of bioinformatics platforms due to the presence of skilled personnel.

Bioinformatics Platforms are collections of software applications designed to facilitate the analysis of biological information. The applications and their main functions are divided into three categories, these are Cloning Lines of Action, Gene Regulation, and Gene Function. They all can be combined into one application for better functionality. However, the applications vary depending on the needs of the user and the complexity of the job. Bioinformatics is widely used in research and development activities for either drug discovery, clinical diagnostics, or personalized medicine. Such thorough and highly advanced research activities require collaborative work, in order to leverage the expertise of both private and public organizations. Recently, in October 2020, The Walther Cancer Foundation invested around US$ 11 million to expand collaborative bioinformatics cancer research with Indiana University and Purdue University. Similarly, in January 2021, Curie-Cancer entered into a bioinformatics partnership deal with GenoSplice Technology for the application of cancer genomics. Such partnership and collaboration activities can stimulate growth of the bioinformatics platforms market.

Bioinformatics platforms are usually developed using applications written in C++. The source code is made human-readable to allow users to quickly analyze the data and manipulate it. Examples of these applications include the Illumina Genomics Platform, Gene Array Expression Profiling Software, and Genomics Data Migration Tool. In the recent past, the demand for nucleic acid and protein sequencing has increased massively. This is due to the fact that sequencing cost has reduced substantially, which is complemented by technological advancements. Such positive factors are also augmenting growth of the bioinformatics platforms market.

Recently, in June 2019, Dassault Systemes SE, a French software company, acquired Medidata Solutions, a provider for SaaS-based clinical development software, for US$ 5.8 billion with the aim to take leverage of Medidata’s cloud-based services to help the development of therapeutic innovations and clinical operations performance for pharmaceutical companies.

Good bioinformatics applications should be open source. This means the software should have a collaborative development plan and be collaboratively supported. Currently, there are many open-source applications available. To see what applications are currently out there check out the Bioinet website. Despite all these positive factors, the bioinformatics platforms market is hindered by a lack of well-defined standards and common data formats for the integration of data. Besides, the low availability of user-friendly tools at competitive prices can restrain growth of the bioinformatics platforms market.