Bioinformatics Market Size, Share, Growth, Trends, and Forecast 2032

Bioinformatics Industry Prospective:

The global bioinformatics market size was worth around USD 10.91 Billion in 2023 and is predicted to grow to around USD 26.81 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.50% between 2024 and 2032.

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The report analyzes the global bioinformatics market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bioinformatics industry. 

The report covers a forecast and an analysis of the bioinformatics market on a global and regional level. The study provides historical data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints of the bioinformatics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the bioinformatics market on a global and regional level.

In order to give the users of this report a comprehensive view of the bioinformatics market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the bioinformatics market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research and development, and regional expansion of major participants involved in the bioinformatics market on a global and regional basis.

Bioinformatics Market: Growth Drivers

The market for bioinformatics is seeing substantial expansion, which is being driven by a number of important industry drivers. In the first place, the exponential growth in the amount of biological data that is produced by the many different omics technologies, such as genomics, proteomics, and metabolomics, calls for the development of sophisticated computational tools and algorithms for the purpose of data analysis and interpretation. The increasing need for bioinformatics solutions is a direct result of the significant role that bioinformatics plays in the management, analysis, and integration of these enormous datasets.

Furthermore, the increasing prevalence of personalized medicine and precision healthcare techniques necessitates the utilization of advanced bioinformatics platforms for the purposes of genomic profiling, variant analysis, and clinical interpretation of genetic data. In addition, the growing applications of bioinformatics in the fields of drug development, biomarker identification, and agricultural biotechnology all contribute to the expansion of the industry. In addition, developments in artificial intelligence, machine learning, and cloud computing are causing a revolution in the field of bioinformatics. These improvements are making it possible to analyze complicated biological data in a simpler and more accurate manner. Overall, it is anticipated that these factors, in conjunction with rising investments in healthcare infrastructure and research in the life sciences, will continue to fuel the expansion of the bioinformatics industry.

Bioinformatics Market: Report Scope

Bioinformatics Market: Segmentation

Product and service, application, and sector are the three categories that have been used to segment the worldwide bioinformatics market. Bioinformatics services, knowledge management tools, and bioinformatics platforms are the components that make up the bioinformatics market, which is distinguished by its product and service offerings. Due to the increasing use of various bioinformatics platforms in proteomics and genomic applications, it is anticipated that the bioinformatics platforms segment will have the greatest compound annual growth rate (CAGR) at the end of the estimated timeline. In addition to drug design and chemoinformatics, also included in the application area are genomics, proteomics, metabolomics, transcriptomics, and other related fields. In 2018, the genomics category was the most dominant in the global market. This was mostly due to the increasing utilization of genomics in personalized and preventative medicine systems. Academics, medical biotechnology, animal biotechnology, environmental biotechnology, agricultural biotechnology, forensic biotechnology, and other types of biotechnology are included in this sector area. As a result of the increasing use of bioinformatics tools in clinical and pharmaceutical applications, it is anticipated that the medical biotechnology segment will come to dominate the market in the years to come.

The study provides a decisive view of the bioinformatics market based on product & service, application, Sector, and region. The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further divided into major countries including the U.S., Germany, France, UK, China, Japan, India, and Brazil.

Bioinformatics Market: Competitive Analysis

Some key players of the global bioinformatics market include

• Illumina Inc.
• Thermo Fisher Scientific
• Agilent Technologies
• BGI
• QIAGEN
• Wuxi NextCODE
• Waters Corporation
• Eurofins Scientific
• Sophia Genetics
• DNASTAR
• and Partek.

This report segments the global bioinformatics market as follows:

By Product & Service

• Bioinformatics Services
• Knowledge Management Tools
• Bioinformatics Platforms

By Application

• Drug Design and Chemoinformatics
• Genomics
• Proteomics
• Metabolomics
• Transcriptomics
• Others

By Sector

• Academics
• Medical Biotechnology
• Animal Biotechnology
• Environmental Biotechnology
• Agricultural Biotechnology
• Forensic Biotechnology
• Others

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa