Bioinformatics Services Market Size, Share, Trends, Growth 2032

Bioinformatics Services Market: Overview

The global bioinformatics services market size was worth around USD 3.12 billion in 2023 and is predicted to grow to around USD 10.87 billion by 2032 with a compound annual growth rate (CAGR) of roughly 14.86% between 2024 and 2032.

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The study includes drivers and restraints for the bioinformatics services 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 services market on a global level.

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

Over the last decade, the global bioinformatics services market has drastically evolved owing to the growing application of bioinformatics tools in different sectors of life science. Bioinformatics is an interdisciplinary field that develops methods and software tools for better understanding of biological data. Bioinformatics is very useful in an array of biological applications which include genomics, drug discovery, the study of structural biology, biomedical imaging, etc. It is also being used to organize and retrieve data along with advanced analytical tools to analyze different experimental parameters. These tools and services are changing the way scientists and investigators in the life sciences conduct research and solve problems. Growing demand for bioinformatics services in various industries is augmenting the growth of bioinformatics service market.  

The growth of bioinformatics services market is poised by the increased demand from various areas such as forensic, medical, pharmaceutical, biosimilars, and genomic research. Growing Bio-IT sector and its magnetic influence over pharmaceutical sector is accelerating the growth of the bioinformatics service market. Furthermore, factors such as increased adoption of bioinformatics in laboratories and research centers, growing reliance of pharmaceutical companies on bioinformatics and high capital investments and increasing funding for research are fueling the growth of bioinformatics service market. However, the shortage of skilled bioinformatics professionals and the high cost of services are hampering the growth of this market. Nonetheless, growing technological innovation in bioinformatics and rising demand for more accurate & reliable multifunctional bioinformatics tools is expected to offer lucrative opportunities for key players in the forecast period.

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

Bioinformatics Services Market : Report Scope

Bioinformatics Services Market: Segments Analysis

The study provides a decisive view of the bioinformatics services market by segmenting the market based on service type, application, end-user, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2032.

On the basis of service type, the bioinformatics service market has been segmented into sequencing services, drug discovery services, data analysis services, database management services, differential gene expression analysis, and others. Sequencing services are largely employed in numerous research projects. This segment dominated the global bioinformatics services market accounting for a major global revenue share. The database management services segment is expected to grow at a significant rate during the forecast period due to the growing need for large data storage generated from the pharmaceutical and academic institutes sector. 

By application type, the bioinformatics service market has been segmented into genomics, chemoinformatics and drug design, proteomics, transcriptomics, metabolomics, and others. The key end users in the bioinformatics services market include pharmaceutical and biotechnology companies, academic institutes and research centers, hospitals, and others. 

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further categorization into major countries including the U.S., Germany, France, UK, China, Japan, India, and Brazil. This segmentation includes demand for bioinformatics services based on individual segments and applications in all regions and countries.

Based on the geography, the global bioinformatics services market is divided into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to remain the dominant region over the forecast period. Growing number of government and private funding in genomic research and greater demand for high-end bioinformatics services is boosting the bioinformatics services market in this region. Europe was the second largest market followed by the Asia Pacific. Asia Pacific was the fastest growing market with highest CAGR during the forecast period. The Middle East and Africa and Latin America regions are also expected to experience moderate growth in the bioinformatics services market in the years to come.

Bioinformatics Services Market: Competitive Analysis

Some of the key players in bioinformatics services market include Thermo Fisher Scientific, PerkinElmer, BGI, NeoGenomics, CD Genomics, Eurofins Scientific, Macrogen, QIAGEN, Microsynth, MedGenome, GENEWIZ, Source BioScience, and Fios Genomics BaseClear, among others.

The global bioinformatics services market is led by players like:

• Thermo Fisher Scientific
• Illumina
• Eurofins Scientific
• NeoGenomics
• BGI
• PerkinElmer
• CD Genomics
• Macrogen
• QIAGEN
• GENEWIZ
• Fios Genomics
• Source BioScience
• Microsynth
• MedGenome
• BaseClear

This report segments the global bioinformatics services market as follows:

Global Bioinformatics Services Market:  Service Type Segment Analysis

• Sequencing Services   
• Data Analysis          
• Drug Discovery Services
• Differential Gene Expression Analysis
• Database and Management Services
• Other Bioinformatics Services

Global Bioinformatics Services Market: Application Type Segment Analysis

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

Global Bioinformatics Services Market: End-User Segment Analysis

• Research Centers & Academic Institutes               
• Hospitals
• Pharmaceutical & Biotechnology Companies
• Others

Global Bioinformatics Services Market: Regional Segment Analysis

• North America

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