The Bioinformatics Market size is expected to grow from USD 18.4 Billion in 2022 to USD 45.2 Billion by 2030, at a CAGR of 11.9 % during the forecast period.
In the context of genetics and genomics, bioinformatics is a subfield of biology that makes use of computers to collect, store, analyze, and disseminate biological data and information. Examples of this kind of data and information include the sequences of DNA and amino acids, as well as any annotations that are associated with those sequences. The study of bioinformatics encompasses not only biological research that incorporates the use of computer programming as a component of its technique but also unique analysis "pipelines" that are utilized several times, most notably in the field of genomics. The analysis of single nucleotide polymorphisms and the identification of candidate genes are both common applications of bioinformatics (SNPs).
Top Key Players for Bioinformatics Market:
Agilent Technologies Inc. (United States), Biomax Informatics Ag (Germany), Hybrigenics (France), Lumenogix (India), Dnanexus, Inc. (United States), Genedata Ag (Switzerland), Intrexon Bioinformatics Germany Gmbh (Germany), Illumina Inc. (United States), Perkinelmer Inc. (United States), Qiagen N.V. (Germany), Seven Bridges Genomics Inc. (United States), Thermo Fisher Scientific Inc. (United States), and Other Major Players
Market Dynamics and Factors for Bioinformatics Market:
Drivers:
Increasing Public-Private Sector Funding for Bioinformatics
Increasing public-private sector funding for bioinformatics is indeed a significant driver for the growth of the bioinformatics market. Bioinformatics is an interdisciplinary field that combines biology, computer science, mathematics, and statistics to analyze and interpret biological data. It plays a crucial role in areas such as genomics, proteomics, drug discovery, personalized medicine, and agricultural biotechnology. Increased funding from both the public and private sectors in bioinformatics research and applications stimulates technological advancements, fosters innovation, and drives the demand for bioinformatics products and services.
Opportunities:
Integration of Machine Learning & AI in Healthcare
Indeed, the integration of Machine Learning (ML) and Artificial Intelligence (AI) in healthcare presents significant opportunities for the bioinformatics market. Bioinformatics is essential in analyzing and interpreting vast amounts of biological data, and ML and AI techniques. ML and AI algorithms can efficiently process and analyze complex biological data, such as genomic sequences, protein structures, and medical imaging. These technologies can identify patterns, detect anomalies, and uncover meaningful insights from large datasets, leading to more accurate and precise results in diagnostics and personalized medicine.
Segmentation Analysis of the Bioinformatics Market:
- By Technology & Services, Knowledge management tools are software applications or platforms designed to facilitate the creation, organization, storage, retrieval, and sharing of knowledge and information within an organization or among a group of individuals. These tools aim to enhance collaboration, improve decision-making, and increase efficiency by making relevant knowledge readily accessible to users.
- By Application, Metabolomics is a branch of "omics" sciences that focuses on the comprehensive study of small molecules called metabolites within biological systems. Metabolites are the intermediates and end products of cellular metabolism, and they play crucial roles in various biological processes, providing insights into the functional state of organisms.
Regional Analysis of the Bioinformatics Market:
North America is expected to have the maximum market share during the forthcoming year. This is because there has been an increase in the use of more advanced technology, in addition to an increase in the demand for improved bioinformatics tools, which are essential in the process of drug research and development. It is anticipated that the market in LAMEA will expand at the rate that is highest over the course of the forecast period. This is due to the fact that recent advancements in genomics and proteomics produce enormous amounts of data that need to be evaluated and managed.
Key Industry Development:
- In January 2022, Thermo Fisher completed the acquisition of PeproTech on December 30 2021 for a total cash purchase price of approximately US$ 1 85 billion PeproTech is a privately held provider of bioscience reagents known as recombinant proteins including cytokines and growth factors. Recombinant proteins are used in the development and manufacturing of cell and gene therapies, as well as in broader cell culture applications, especially for use in cellular research modeis
- In May 2022, Bruker Corporation and TOFWERK AG announced a strategic partnership for high-speed ultra-sensitive applied and industrial analytical solutions, in conjunction with a Bruker minority investment in TOFWERK the partnership provides a basis for technology collaborations to advance instrument capabilities and for the development of novel analytical applications where high speed and ultra-sensitivity matter.
