Global Bioinformatics Services Market Insights Forecasts to 2033

• The Global Bioinformatics Services Market Size was Valued at USD 3.31 Billion in 2023
• The Market Size is Growing at a CAGR of 14.40% from 2023 to 2033
• The Worldwide Bioinformatics Services Market Size is Expected to Reach USD 12.71 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

 

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The Global Bioinformatics Services Market Size is Anticipated to Exceed USD 12.71 Billion by 2033, Growing at a CAGR of 14.40% from 2023 to 2033.

 

Market Overview

The combination of information technology with biology has led to the development of the new field of bioinformatics. It's an interdisciplinary branch of study that combines computer science, mathematics, chemistry, biology, and statistics into one cohesive subject. This industry mostly deals with the analysis of biological data and the creation of new software with biological instruments. The National Center for Biotechnology Information (NCBI), a division of the National Library of Medicine (NLM) and the National Institutes of Health (NIH), defines bioinformatics as the use of computational technology for the analysis, collection, classification, manipulation, recovery, storage, and visualization of all biological information. Growing government financing and initiatives for genomics-focused R&D, as well as the expanding use of technology in drug discovery and biomarker creation processes, are expected to propel the business. Moreover, a key factor influencing the anticipated growth in this sector is the steady decline in DNA sequencing costs. The bioinformatics services market is expected to provide potentially high-value avenues and possibilities for growth throughout the projected period due to the increasing need for integrated data solutions to manage huge amounts of data generated from high throughput sequencing and related technologies.

 

Report Coverage

This research report categorizes the market for the global bioinformatics services market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global bioinformatics services market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global bioinformatics services market.

 

Driving Factors

The global bioinformatics services market is expected to increase as a result of the expanding uses of bioinformatics across a range of sectors. Several industries, including the food, bioremediation, agricultural, forensics, and consumer sectors, are also adopting bioinformatics services to improve the quality of their products and supply chain procedures. Businesses in a variety of industries are adopting bioinformatics services including data integration, manipulation, lead finding, data management, in silico analysis, and advanced knowledge discovery at an increasing rate. The expansion of bioinformatics services' application areas is anticipated to open up new income streams for industry participants, spurring higher use of these services and driving market expansion overall over the course of the forecast period. The shortage of qualified bioinformatics specialists is one of the key reasons propelling the growth of the worldwide bioinformatics services market. The adoption of partnerships between pharmaceutical businesses and information technology (IT) organizations is growing, which is driving the expansion of the global bioinformatics services market. Many firms are developing multiple partnerships and collaborations in order to create and improve cloud-based healthcare technology. Therefore, it is projected that the market for bioinformatics services will be driven by the growing cooperation between IT and pharmaceutical firms.

 

Restraining Factors

The need for improved and more efficient training and education programs for gathering and interpreting bioinformatics data which might be expensive has arisen from the enormous expansion of biological data and the ever-evolving sophistication of bioinformatics techniques. One of the main factors limiting the market for bioinformatics services is data complexity. In addition to pharmaceutical businesses, several research institutes are creating cutting-edge bioinformatics concepts and openly accessible bioinformatics tools. The emergence of open-source bioinformatics tools and publicly available data/software is driving increased demand for bioinformatics services while impeding the growth of the bioinformatics market as a whole.

 

Market Segmentation

The global bioinformatics services market share is classified into services, applications, and end users.

 

• The NGS segment is expected to hold the largest share of the global bioinformatics services market during the forecast period.   

Based on the services, the global bioinformatics services market is divided into NGS, chemoinformatics, microarray data analysis, biological data curation, and scientific software testing services, others. Among these, the NGS segment is expected to hold the largest share of the global bioinformatics services market during the forecast period. The genome, chip seq, de-novo assembly, transcriptome, targeted sequencing, and methyl Seq analysis are all included in NGS. The market share is a result of the rising use of sequencing technology in the areas of precision medicine, biomarker creation, and illness prognosis, as well as the declining cost of sequencers.

 

• The transcriptomics segment is expected to hold the largest share of the global bioinformatics services market during the forecast period.   

Based on the application, the global bioinformatics services market is divided into genomics, transcriptomics, metabolomics, proteomics, and drug discovery, others. Among these, the transcriptomics segment is expected to hold the largest share of the global bioinformatics services market during the forecast period. The industry's demand is anticipated to be driven by a number of important reasons, including the growing need for real-time illness management and the adoption of preventative medicine and customized healthcare.

 

• The academic sector is expected to hold the largest share of the global bioinformatics services market during the forecast period.   

Based on the end user, the global bioinformatics services market is divided into agriculture, animal, medical, and academic sectors, others. Among these, the academic sector is expected to hold the largest share of the global bioinformatics services market during the forecast period. Bioinformatics services are critical to academic sectors since they enable the analysis of large volumes of biological data, leading to breakthroughs in drug discovery, proteomics, and genomics. Academic institutions and research centers continue to be major forces behind innovation in the bioinformatics business, contributing to the strong segment development of the industry with their sizeable budgets and emphasis on interdisciplinary research.

 

Regional Segment Analysis of the Global Bioinformatics Services Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global bioinformatics services market over the predicted timeframe.

 

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North America is anticipated to hold the largest share of the global bioinformatics services market over the predicted timeframe. The increased industry participant penetration and the resulting production of industrial revenue are both due to a well-defined regulatory framework. The largest impact factor contributing to the high penetration of informatics services centered around drug discovery and eventually increasing revenue generation is the region's concurrent growth of next-generation sequencing and chemical laboratories.

 

Asia Pacific is expected to grow at the fastest pace in the global bioinformatics services market during the forecast period. Asia Pacific is anticipated to propel the expansion of the sector as it provides care for a sizable patient population with infectious disorders. Given that this area accounts for 60% of the global population, even a modest prevalence corresponds to a substantial number of sick individuals. Australia and India are two examples of emerging economies that contribute to the growth and revenue share of the Asia Pacific area. An increasing number of Asian nations are engaged in building the infrastructure that is anticipated to impact revenue creation in this industry as outsourcing of services takes momentum.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global bioinformatics services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Source Bioscience
• Thermo Fisher Scientific
• Qiagen Bioinformatics
• Perkinelmer
• Neogenomics
• Microsynth
• Medgenome Labs
• Macrogen
• Illumina
• Genewiz
• FIOS Genomics
• Eurofins Scientific
• CD Genomics
• Baseclear
• BGI
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

 

• In March 2022, The CE-IVD Marked Next-Generation Sequencing (NGS) Instrument for Use in Clinical Labs was introduced by Thermo Fisher Scientific Inc. On a single device, clinical research and diagnostic tests are carried out using the CE-IVD Marked Next-Generation Sequencing Instrument. The instrument first led to the distribution of the NGS instrument and the addition of a new product to the lineup, both of which are anticipated to boost product sales.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bioinformatics services market based on the below-mentioned segments: 

 

Global Bioinformatics Services Market, By Type

• NGS
• Chemoinformatics
• Microarray Data Analysis
• Biological Data Curation
• Scientific Software Testing Services
• Others

 

Global Bioinformatics Services Market, By Application

• Genomics
• Transcriptomics
• Metabolomics
• Proteomics
• Drug discovery
• Others

 

Global Bioinformatics Services Market, By End User

• Agriculture
• Animal
• Medical
• Academic Sector
• Others

 

Global Bioinformatics Services Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa