Dublin, July 14, 2021 (GLOBE NEWSWIRE) -- The "Bioinformatics Services Market by Type (Sequencing, Data Analysis, Discovery, Gene Expression, Database Management), Specialty (Medical, Plant, Forensics), Application (Genomics, Metabolomics), Enduser (Academia, Pharma-biotech) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The bioinformatics services market is projected to reach USD 5.3 Billion by 2026 from USD 2.5 Billion in 2021, at a CAGR of 15.8% during the forecast period.
Growing applications of bioinformatics across industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals (leading to increased outsourcing of bioinformatics projects) are the major factors that are expected to drive the growth of the bioinformatics services market during the forecast period. However, the in-house development of bioinformatics solutions and publicly available bioinformatics tools are expected to limit market are expected to restrain market growth in the coming years.
In terms Application, the genomics segment is expected to account for the largest share of the bioinformatics services market in 2020.
Based on application, the bioinformatics services market is segmented into genomics, chemoinformatics, and drug design, proteomics, transcriptomics, metabolomics, and other applications. Large share is attributed to the genomics segment due to the increasing use of pharmacogenomic research for the development of precision medicine, favorable funding scenarios for genomic research, and partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics solutions and services.
In terms of type segment, the sequencing services segment is expected to account for the largest share during the forecast period.
Based on type, the bioinformatics services market is segmented into sequencing services, data analysis, drug discovery services, differential gene expression analysis, database and management services, and other bioinformatics services. Due to reduced cost of sequencing, the sequencing services segment enjoys the major share of the market.
In terms of specialty segment, the medical biotechnology segment is expected to account for the largest share during the forecast period.
Based on specialty, the bioinformatics services market is segmented into medical biotechnology, plant biotechnology, animal biotechnology, environment biotechnology, and forensic biotechnology. Medical biotechnology holds the largest share due to the development of new databases for drug discovery, the use of bioinformatics for clinical diagnostics, and increasing funding for the development of bioinformatics solutions for clinical diagnostics.
The academic institutes and research centers segment is expected to register the highest CAGR during the forecast period `
Based on end-users, the bioinformatics services market has been segmented as -academic institutes and research centers, hospitals and clinics, pharma and biotech companies, CROs, and other end users. The large share of academic institutes and research centers segment can be attributed to the growing number of bioinformatics-based research studies, increasing scale of genomics research, rising number of collaborations between academic research institutes and players in the bioinformatics market, and the growing number of government funding programs for genomics research.
Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The bioinformatics services market covers five key geographies-North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2020, the Asia Pacific region offered significant opportunities for the growth of the bioinformatics services market. The market growth in the Asia Pacific can be attributed to the increasing incidence of genetic diseases, rising number of bioinformatics-based research studies, and the growing demand for bioinformatics services from various end-users.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Bioinformatics Services Market Overview
4.2 Bioinformatics Services Market, by Type
4.3 Bioinformatics Services Market, by Country and Application
4.4 Bioinformatics Services Market, by End-user
4.5 Bioinformatics Services Market: Geographic Growth Opportunities
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Applications of Bioinformatics in Various Industries
5.2.1.2 Increasing Public-Private Sector Funding for Bioinformatics Services
5.2.1.3 Shortage of Skilled Bioinformatics Professionals Leading to Increased Outsourcing of Bioinformatics Projects
5.2.1.4 Increasing Pharmaceutical and Biotech R&D Expenditure
5.2.2 Restraints
5.2.2.1 In-House Development of Bioinformatics Solutions and Publicly Available Bioinformatics Tools
5.2.3 Opportunities
5.2.3.1 Reducing Cost of Sequencing and Growing Volume of Data Generated During Sequencing
5.2.3.2 Growing Focus on Outsourcing for the Management of Large Volumes of Data
5.2.3.3 Growth Potential in Emerging Economies
5.2.4 Challenges
5.2.4.1 Complexity of Data
5.2.4.2 Lack of Well-Defined Standards and Interoperability Issues for Bioinformatics Analysis
5.2.4.3 Ethical Issues
5.2.5 Industry Trends
5.2.5.1 Partnerships & Collaborations for Technological Advancements in the Bioinformatics Services Market
5.3 Regulatory Analysis
5.3.1 Global Alliance for Genomics and Health (Ga4Gh)
5.4 Value Chain Analysis
5.5 Supply Chain Analysis
5.6 Porter's Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Competitive Rivalry Among Existing Players
5.7 COVID-19 Impact
6 Bioinformatics Services Market, by Type
6.1 Introduction
6.2 Sequencing Services
6.2.1 Whole-Genome Sequencing and De Novo Assembly
6.2.1.1 Launch of Advanced Whole-Genome Sequencing Services to Drive Market Growth
6.2.2 Exome Analysis
6.2.2.1 Rising Awareness of Exome Analysis Services to Drive Market Growth
6.2.3 Transcriptome Analysis
6.2.3.1 Application of Transcriptomics in Diagnostics and Cancer Research is Increasing
6.2.4 Metagenomic Analysis
6.2.4.1 Application of Metagenomics in Human Microbiome Analysis to Drive Market Growth
6.2.5 Chip-Seq Analysis
6.2.5.1 Increasing Awareness About the Advantages of Chip-Seq Among Professionals to Drive Market Growth
6.2.6 Other Sequencing Services
6.3 Data Analysis Services
6.3.1 Data Mining
6.3.1.1 Development of Advanced Bioinformatics Applications and Algorithms Based on Data Mining to Drive Market Growth
6.3.2 Genomic Analysis
6.3.2.1 Growth in the Amount of Sequencing Data and Technological Advancements in Genomic Analysis to Drive Market Growth
6.3.3 Proteomic Analysis
6.3.3.1 Increasing Focus on Personalized Medicine and Outsourcing of Proteomic Studies to Drive Market Growth
6.3.4 Variant Annotation and Discovery
6.3.4.1 Increasing Research on Mutation Analysis to Drive Market Growth
6.4 Drug Discovery Services
6.4.1 Advancements in Pharmacogenomics to Drive Market Growth
6.5 Differential Gene Expression Analysis Services
6.5.1 R&D for the Advancement of Solutions & Services for Differential Gene Expression Studies is Increasing
6.6 Database and Management Services
6.6.1 Government Initiatives for Data Sharing Will Drive Market Growth
6.7 Other Bioinformatics Services
7 Bioinformatics Services Market, by Specialty
7.1 Introduction
7.2 Medical Biotechnology
7.2.1 Use of Bioinformatics Services is Increasing in Molecular Medicine, Drug Discovery, and Clinical Diagnostics
7.3 Animal Biotechnology
7.3.1 Vast Omics Databases for Sequencing & Analysis of Animal Genomic Data Are Driving the Growth of this Market Segment
7.4 Plant Biotechnology
7.4.1 Decreasing Sequencing Cost and Advanced Bioinformatics Services to Boost Market Growth
7.5 Environmental Biotechnology
7.5.1 R&D of Bioinformatics in Environmental Biotechnology to Drive Market Growth
7.6 Forensic Biotechnology
7.6.1 Improved Use of Forensic Bioinformatics Will Drive Market Growth
8 Bioinformatics Services Market, by Application
8.1 Introduction
8.2 Genomics
8.2.1 Genomics is the Largest Application Segment in the Bioinformatics Services Market
8.3 Chemoinformatics & Drug Design
8.3.1 Proactive Use of Chemoinformatics in Drug Discovery by Pharmaceutical Companies Will Drive Market Growth
8.4 Proteomics
8.4.1 R&D and Financial Support from Government and Private Funding Bodies is Increasing in the Field of Proteomics
8.5 Transcriptomics
8.5.1 Increasing Number of Research Studies for the Treatment of Cancer Using Transcriptomics Will Support Market Growth
8.6 Metabolomics
8.6.1 Technological Advancement in the Field of Metabolomics and Data Analysis to Drive Market Growth
8.7 Other Applications
9 Bioinformatics Services Market, by End-user
9.1 Introduction
9.2 Academic Institutes and Research Centers
9.2.1 Academic Institutes and Research Centers Are the Largest End-users of Bioinformatics Services
9.3 Hospitals and Clinics
9.3.1 Growing Number of Collaborations and Agreements Between Companies and Hospitals to Boost Market Growth
9.4 Pharmaceutical and Biotechnology Companies
9.4.1 Increasing Focus on Developing Targeted Therapies Will Drive the Market Growth
9.5 Contract Research Organizations
9.5.1 Increasing Number of Cros Will Enhance the Market Growth
9.6 Other End-users
10 Bioinformatics Services Market, by Region
11 Competitive Landscape
12 Company Profiles
12.1 Key Players
12.1.1 Thermo Fisher Scientific
12.1.2 Eurofins Scientific
12.1.3 Illumina
12.1.4 PerkinElmer
12.1.5 Neogenomics
12.1.6 Baseclear
12.1.7 BGI Group
12.1.8 Cd Genomics
12.1.9 Fios Genomics
12.1.10 Genewiz (A Brooks Life Sciences Company)
12.1.11 Psomagen, Inc. (Formerly Known as Macrogen)
12.1.12 Medgenome Labs
12.1.13 Microsynth
12.1.14 Qiagen N.V.
12.1.15 Source Bioscience
12.2 Other Companies
12.2.1 Nxt-Dx (A Diagenode Company)
12.2.2 Nucleome Bioinformatics
12.2.3 1010Genome
12.2.4 Dnanexus, Inc.
12.2.5 Bionivid
13 Appendix
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