Bioinformatics Market Size, Share, Trends | Global Forecast 2028

[Research Report] The bioinformatics market is expected to grow from US$ 12,609.39 million in 2021 to US$ 34,749.78 million by 2028; it is estimated to grow at a CAGR of 15.7% from 2022 to 2028.

Market Insights and Analyst View:

Bioinformatics is the application of information technology to manage biological data that helps in decoding plant genomes. The bioinformatics stores, analyses and interprets the big data generated by life-science experiments, or collected in a clinical context. This multidisciplinary field is driven by experts from a variety of backgrounds including biologists, computer scientists, mathematicians, statisticians and physicists. Bioinformatics allows researchers to perform experiments on a timeline that matters in a person’s lifetime. For example, during the coronavirus pandemic, researchers were able to sequence the virus’s genome, identify what was likely to be causing the virus to enter cells, and develop a vaccine based on the discovered genome within a matter of months. Additional bioinformatic approaches are being used to identify and treat other diseases like diabetes and cancer. The growth of the bioinformatics market is attributed to the increasing funding and investments in bioinformatics, and increased number of genomic research activities with corresponding adoption of bioinformatics are expected to propel the bioinformatics market growth during the forecast period.

Growth Drivers and Challenges:

In the field of genetics and genomics, the bioinformatics aids in sequencing and annotating genomes. Bioinformatics plays a role in the analysis of gene and protein expression and regulation. Bioinformatics tools aid in the comparison of genetic and genomic data and more generally in the understanding of evolutionary aspects of molecular biology. The role of human genomics research and related biotechnologies has the potential to achieve several public health goals, such as to reduce global health inequalities by providing developing countries with efficient, cost-effective, and robust means of preventing, diagnosing, and treating major diseases that burden their populations. Currently, cancer treatment is also set to gain from genomic information to predict how an individual responds to drugs and inform prescription of the appropriate drug or dosage.

The initiatives to generate and collect human genomic data is evolving rapidly and is highly diverse, with private and public initiatives across multiple countries. Since 1990, the cost of sequencing a whole genome dropped from US$ 2.7 million to as low as US$ 300, opening new opportunities to build repositories of genomic data. By the start of 2020, there were 187 genomic initiatives globally of which 50% originated in the U.S. and 19% in Europe. Thirty-eight million genomes had been analyzed using techniques ranging from genotyping to whole genome sequencing, and this number is expected to grow to 52 million by 2025. Therefore, the increasing number of genomics activities along with rising adoption of bioinformatics is driving the market.

One of the challenges is that bioinformatics is a collection of different fields – structural biology, genomics, chemical biology, etc – and they’re all moving very quickly. New techniques are coming online almost daily, there are lots of new data types, so keeping up with the deluge of new things is very difficult.  

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Get FREE CUSTOMIZATION

Bioinformatics Market: Strategic Insights

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

Report Segmentation and Scope:

The “Global Bioinformatics Market” is segmented based on product, application, sector, and geography. Based on the product, the bioinformatics market is segmented into bioinformatics platforms, knowledge management tools, and bioinformative services. Based on application, the bioinformatics market is segmented into genomics, proteomics, chemoinformatics & drug design, transcriptomics, metabolomics, and others. Based on sector, the bioinformatics market is divided into medical biotechnology, animal biotechnology, agricultural biotechnology, academics, environmental biotechnology, forensic biotechnology, and others. The bioinformatica market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

The bioinformatics market is segmented based on product into bioinformatics platforms, knowledge management tools, and bioinformative services. The bioinformatics platforms segment held the largest market share in 2021; however, knowledge management tools are anticipated to register the highest CAGR during the forecast period. The major driving factor for the growth of this segment is the increasing number of more advanced and automated product developments and growing availability in the lower-middle income countries. Developments in the bioinformatics platforms have helped the bioinformatics market to grow significantly. For instance, in August 2022, Predicine launched its CE-marked PredicineCARE for genomic profiling in blood and urine in Europe. The cell-free DNA (cfDNA) assay is a targeted next-generation sequencing (NGS) assay for detecting single nucleotide variants, insertions and deletions, DNA rearrangements, and copy number variations in patients diagnosed with cancer. The assay has been used in clinical trials, patient testing, and the development of companion diagnostics.

Based on application, the bioinformatics market is segmented into genomics, proteomics, chemoinformatics & drug design, transcriptomics, metabolomics, and others. The genomics segment held the largest market share in 2021; however, chemoinformatics and drug design are anticipated to register the highest CAGR in the market during the forecast period. Due to innovative product developments and rising research in the sector segments, the segment's growth will be augmented in the forthcoming years. Genetics is currently one of the most dynamic sciences in medicine, and genetic data plays a vital role in all areas of medicine. Within a few years, technological advancements are converted from research to clinical testing, and there has been a significant increase in Direct to Consumer (DTC) genetic testing. The consumer receives results online, usually without a human interface or consultation, and later seeks professional advice.

Based on sector, the bioinformatics market is divided into medical biotechnology, animal biotechnology, agricultural biotechnology, academics, environmental biotechnology, forensic biotechnology, and others. The medical biotechnology segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. The major driving factors for the growth of the sector segment are rising advancements and the growing demand for bioinformatics tools.

Regional Analysis:

Based on geography, the bioinformatics market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. North bioinformatics market has been analysed based on three major countries — the US, Canada, and Mexico. The US is estimated to hold the largest bioinformatics market share during the forecast period. The US government initiated various research programs to boost the genomic research, including the ‘All of Us Research Program’ led by NIH, which provided US$ 28.6 million in funding to develop three genome centers across the US. This research program will accelerate the precision medicine discoveries through Bioinformatics services in different institutions in the US. The supportive environment in the US accelerates the growth of the development and commercialization of pharmaceutical and biopharmaceutical products. The market players in the country received various patents for their innovations. Thus, the growing bioinformatics services and product launches for various genetic diseases and cancer studies in the pharmaceutical & biopharmaceutical industries will boost the Bioinformatics market growth. For instance, in June 2022, California’s biotechnology research startup LatchBio has introduced an end-to-end bioinformatics platform for handling big biotech data to accelerate scientific discovery. It allows biologists to organize data and run processes, bioinformaticians to upload new workflows, and computational biologists to do downstream analysis.

Asia Pacific accounted for the fastest-growing region in the global bioinformatics market and was projected to grow at a faster pace over the forecast period. The market in this region is largely held by countries such as China and Japan. The factors contributing to the growth of the bioinformatics market in these countries are advancements in the field of genomics and proteomics, generating massive volume of data, which is to be interpreted and managed.

Bioinformatics Market Trend:

Bioinformatics and AI are playing critical roles in changing and advancing the healthcare industry. In the context of bioinformatics, AI can be used to promote clinical research and analysis that can result in the design of new drugs and vaccines, the diagnosis of diseases, and even the prediction of pandemics. One example of how AI can be used in conjunction with bioinformatics is wearable tech. Consumers are already familiar with many types of wearable techs, such as fitness trackers and watches, and make personal use of the data they collect. The wearable tech provides real-time data over a period of time and can help track trends and identify signs of potentially fatal health issues, such as heart disease, much quicker and more accurately than spot tests conducted in laboratories. Also, genome sequencing plays a pivotal role in medical diagnostics. Machine learning empowered DNA sequencing techniques such as next-generation sequencing have made it possible for researchers to sequence human genomes within a day compared to the traditional sanger sequencing technology, which took over a decade to sequence a human genome. The integration of AI and machine learning in bioinformatics is showing the current trend in bioinformatics market.

Covid-19 Impact:

Bioinformatics market witnessed a positive impact due to increased demand for COVID-19 detection kits during the pandemic. At the biological level, SARS-CoV-2 and COVID-19 research involves high-throughput technologies such as Next-Generation Sequencing for detecting the genome of SARS-CoV-2, databases storing SARS-CoV-2 genomes and variants, bioinformatics software tools and databases for analyzing and storing host-virus interactions. At the medical level, the search for therapeutic strategies, the identification of COVID-19 biomarkers, the discovery of therapeutic targets for drugs, and the bioinformatics approaches for drug repurposing, i.e., the use of already available drugs for the COVID-19 disease, were the main research themes, which further escalated the market growth. Moreover, there has been an increase in the use of synthetic gene-based technologies for studying SAR-CoV-2 virulence and facilitating vaccine development.

The recent two decades' invention and advances in nucleic acid amplification technologies, automated DNA sequencing, and bioinformatics tools revolutionized the characterization and classification of all infectious disease agents. The rising incorporation of bioinformatics methodologies and technology into many areas of the worldwide response to the COVID-19 pandemic is yet another crucial and visible evidence of the essential bioinformatics role in modern science and medicine.

Bioinformatics Market Regional Insights

The regional trends and factors influencing the Bioinformatics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Bioinformatics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Bioinformatics Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Bioinformatics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Bioinformatics Market are:

1. Dassault Systèmes
2. Bruker Corporation
3. Agilent Technologies, Inc.
4. Eurofins Scientific
5. Illumina, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global bioinformatics market include Agilent Technologies, Inc, Biomax Informatics Ag, Bruker Corporation, Dassault Systems, Eurofins Scientific, Geneva Bioinformatics, Illumina, PerkinElmer, Qiagen, ThermoFisher Scientific, Inc. among others. These companies focus on new technologies, advancement in the existing products and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. For instance, in March 2020, Genesis Healthcare Co., Japan's leading genetic testing and research company, launched GenesisGaia's new genomic-data-marketplace tool for R &D in Japan to empower industry researchers by increasing their productivity in crucial applications such as accelerating drug discovery, clinical development, and precision medicine, as well as strengthening the development of personalized consumer products and services.

In January 2021, Illumina, Inc. has transforming genomic data bottlenecks into catalysts with the launch of Illumina Connected Analytics (ICA). The new and integrated bioinformatics solution provides a comprehensive, private, cloud-based data platform that empowers customers to manage, analyze, and explore large volumes of multi-omic data in a secure, scalable, and flexible environment.