Pune, March 31, 2023 (GLOBE NEWSWIRE) -- The Bioinformatics Market was assessed to be worth USD 12.56 billion in 2022 by SNS Insider and is projected to grow at a compound annual growth rate (CAGR) of 15.5% from 2023 to 2030, ultimately reaching USD 38.79 billion.
Market Overview
Bioinformatics is an interdisciplinary field that combines computer science, statistics, and biology to analyze and interpret biological data. It involves the use of computational methods to gather, store, analyze, and visualize large biological datasets, such as DNA sequences, protein structures, and gene expression data. It plays a key role in the identification of genetic variations that contribute to disease, the development of new drugs, and the study of evolutionary relationships between species.
Market Analysis
The field of bioinformatics has witnessed significant growth in recent years, owing to the tremendous advancements in technology and the availability of vast amounts of data. As a result, the global bioinformatics market has seen a surge in demand for bioinformatics services and solutions that cater to various research and clinical applications. One significant driver of the growth in the market is the increasing investment in national population sequencing programs. These programs aim to map the genetic makeup of entire populations and understand the link between genetics and diseases. Governments and private organizations worldwide are recognizing the potential of bioinformatics in unlocking the mysteries of genetics and improving healthcare outcomes.
Key Company Profiles Listed in this Report Are:
The Key players are Affymetrix, BIOVIA, Agilent Technologies, BioWisdom Ltd, Celera Corporation, IBM, Life Sciences, Illumina Inc., Life Technologies Corporation, 3rd Millennium Inc, and others
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Impact of Russia-Ukraine Conflict
The ongoing conflict between Russia and Ukraine has had far-reaching effects on various industries, including the bioinformatics market. However, the market remains resilient and is expected to continue to grow, albeit with some challenges along the way. The market is also seeing increased investment in research and development to overcome the shortage of talent and develop innovative solutions to address the challenges posed by the conflict.
Bioinformatics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 12.56 Billion |
| Market Size by 2030 | US$ 38.79 Billion |
| CAGR | CAGR of 15.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Bioinformatics Market: Key Segmentation | • By Product & Services (Knowledge Management Tools, Bioinformatics Services, Bioinformatics Platforms) • By Application (Genomics, Transcriptomics, Metabolomics, Chemoinformatics & Drug Design, Proteomics)• By Sector (Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, Other Sectors) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Key Regional Developments
With many leading companies in the field based in the United States, there is a wealth of expertise and experience available to drive innovation and collaboration. This, in turn, creates a highly competitive and dynamic market that encourages new entrants and fosters growth. Finally, the emphasis on research and development in North America has been instrumental in driving the growth of the bioinformatics market. With increasing investments in fields like genomics, personalized medicine, and drug development, the demand for bioinformatics solutions is rapidly expanding.
Key Takeaway from Bioinformatics Market Study
- As the genomics segment continues to grow and evolve, it is likely to generate significant revenue for companies operating in this space. By providing innovative and reliable bioinformatics solutions, these companies can help accelerate the pace of scientific discovery and advance our understanding of human health and disease.
- As the demand for more sophisticated bioinformatics tools continues to grow, the knowledge management tools segment is poised for significant growth. Companies in this segment are investing heavily in research and development to create innovative solutions that can meet the complex needs of the bioinformatics industry.
Recent Developments Related to Bioinformatics Market
- Mission Bio and Abiosciences have joined forces to form a strategic partnership in the field of bioinformatics. This collaboration is expected to enhance the ability of both companies to provide their customers with cutting-edge solutions for analyzing genomic data. As part of the partnership, Mission Bio's single-cell genomics expertise will be combined with Abiosciences' extensive bioinformatics capabilities.
- BioSkryb, a biotechnology company specializing in genomic research, has announced the commercial launch of its ResolveOME system and BaseJumper bioinformatics platform. These two products will allow researchers to generate highly accurate and comprehensive data sets for a range of genomic applications. This technology can provide researchers with high-quality sequencing data, even from challenging samples.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Bioinformatics Market Segmentation, By Product & Services
9. Bioinformatics Market Segmentation, By Application
10. Bioinformatics Market Segmentation, By Sector
11. Regional Analysis
12 Company Profiles
13 Competitive Landscape
14 Conclusion
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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