Bioinformatics Services Market Strategies and Share 2031
The Bioinformatics Services Market is expected to register a CAGR of 15.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Bioinformatics Services Market report is categorized by type into the following subsegments: Data Analysis, Sequencing Services, Drug Discovery Services, Gene Expression Analysis, Database and Management Services, and Others. It further presents an analysis based on specialty, i.e., Medical Biotechnology, Plant Biotechnology, Animal Biotechnology, Forensic Biotechnology, and Environmental Biotechnology. The applications are Clinical Diagnostics, Drug Development, Research Applications, and Others. The end-users include Hospitals, Pharmaceutical and Biotechnology Companies, Academic Institutes and Research Centers, and Diagnostics Laboratories. The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Bioinformatics Services Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Bioinformatics Services Market Segmentation
Type- Data Analysis
- Sequencing Services
- Drug Discovery Services
- Gene Expression Analysis
- Database and Management Services
- Others
- Medical Biotechnology
- Plant Biotechnology
- Animal Biotechnology
- Forensic Biotechnology
- Environmental Biotechnology
- Clinical Diagnostics
- Drug Development
- Research Application
- Others
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Academic Institutes and Research Centers
- Diagnostics Laboratories
- Hospitals
- Pharmaceutical and Biotechnology Companies
- Academic Institutes and Research Centers
- Diagnostics Laboratories
Strategic Insights
Bioinformatics Services Market Growth Drivers- Increased Public-Private Sector Funding: The bioinformatics services market growth will majorly be driven by the growing funding from the public and private sectors. This way, the government undertakes serious research and developments in particular fields, such as genomics, drug discovery, precision medicine amongst others, which have attracted huge investments from firms in the private sector. These investments are raising the demand for bioinformatics services, which are themselves crucial to the analysis of large data sets in biological sciences, such as genomic sequences and clinical trial data.
- Ascending Applications of Bioinformatics Across Industries: The increasingly applying applications of bioinformatics across such sectors as medical biotechnology, agriculture, and environmental biotechnology heighten the demand in this market. With the advancement of biotechnology, genomic research, personalized medicine, drug discovery, and biological data analysis have increasingly utilized bioinformatics services. Bioinformatics is an important tool in many industries today because it can analyze complex biological data accurately and fast.
- R&D Spending in Biopharmaceutical and Pharmaceutical Companies: The drug development, clinical diagnostics, and genomic research areas are experiencing higher spending in R&D from the pharmaceutical and biopharmaceutical industries, hence experiencing high demand levels for bioinformatics. Bioinformatics significantly streamlines the drug discovery and analysis of gene expressions plus new biomarkers identification process.
- Growing demand for personalized medicine and genomic data analysis: One of the significant trends in the bioinformatics services market is the increased demand for personalized medicine that largely depends upon the analysis of genomics data. The plummeting costs on sequencing genomes with an increased amount of data coupled with the proliferation of genomics and personalized medicine gives rise to a rapidly burgeoning demand for genetic data analysis by bioinformatics services to identify mutations and treatments tailored to specific individuals. Bioinformatics services are in high demand in clinical diagnostics and drug development from this trend.
- Cloud-based Bioinformatics services: Apps for bioinformatics applications seem to sway towards the embracing of cloud computing nowadays. That type of solution allows organizations the ability to store massive data and have direct access and analysis, without the need to have expensive on-premise infrastructure.
- Bioinformatics for Environmental and Agricultural Biotechnology: The new trend in the growing use of bioinformatics is in environmental and agricultural biotechnology. Bioinformatics could apply in these studies to analyze the genetic information of plants, animals and microorganisms as an application for crop improvement, environmental conservation, and research on sustainability. This increases the new applications of bioinformatics services outside the lines of traditional healthcare and opens a related avenue in agricultural biotechnology and environmental sciences.
- Bioinformatics Service Outsourcing: Bioinformatics skills are scarce in the marketplace, and more companies outsource the services to specialized providers. This trend offers an opportunity for bioinformatics service providers to extend their services in meeting the increasing demand by biopharma companies, academic institutions, and research centers requiring advanced data analysis and genome sequencing but lack in-house skills.
- Expansion in Emerging Markets: The emerging Asia-Pacific and Latin America markets look to be massive growth opportunities for the bioinformatics services market. A continuing surge of healthcare and biotech industries, particularly in clinical diagnostics, drug development, and genetic research, will mean an immense increase in demand for bioinformatics services. These can be considered as new customer bases and untapped demand for bioinformatics services.
- Integration of Artificial Intelligence (AI) and Machine Learning (ML): The increased usage of Artificial Intelligence and Machine Learning is going to be a gigantic opportunity in the field of bioinformatics. This technology enhances analysis and improves accuracy, reduces time to discover new drugs, biomarkers, and genetic characteristics. Integration of AI/ML with bioinformatics results in faster and more efficient complexity in analyzing biological data to help providers develop newer edge solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bioinformatics Services Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Bioinformatics Services Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 15.3% during 2023–2031.
The driving factors of the industry include the rise in funding for R&D, the upsurge in genomics research, and the demand for complex data analytics in personalized medicine.
Improvements in integrating AI and machine learning during data analysis, high outsourcing of services in bioinformatics, and large applications for drug discovery and clinical diagnostics are some of the expected trends.
Major market players in the Bioinformatics Services market: Thermo Fisher Scientific Inc., Illumina, Inc, PerkinElmer, Inc., BGI, Source BioScience, QIAGEN, CD Genomics, GENEWIZ, BaseClear B.V., Fios Genomics,
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bioinformatics Services Market - By Type
1.3.2 Bioinformatics Services Market - By Specialty
1.3.3 Bioinformatics Services Market - By Application
1.3.4 Bioinformatics Services Market - By End User
1.3.5 Bioinformatics Services Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BIOINFORMATICS SERVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. BIOINFORMATICS SERVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BIOINFORMATICS SERVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. BIOINFORMATICS SERVICES - GLOBAL MARKET OVERVIEW
6.2. BIOINFORMATICS SERVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIOINFORMATICS SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DATA ANALYSIS
7.3.1. Overview
7.3.2. Data Analysis Market Forecast and Analysis
7.4. SEQUENCING SERVICES
7.4.1. Overview
7.4.2. Sequencing Services Market Forecast and Analysis
7.5. DRUG DISCOVERY SERVICES
7.5.1. Overview
7.5.2. Drug Discovery Services Market Forecast and Analysis
7.6. GENE EXPRESSION ANALYSIS
7.6.1. Overview
7.6.2. Gene Expression Analysis Market Forecast and Analysis
7.7. DATABASE AND MANAGEMENT SERVICES
7.7.1. Overview
7.7.2. Database and Management Services Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. BIOINFORMATICS SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - SPECIALTY
8.1. OVERVIEW
8.2. SPECIALTY MARKET FORECASTS AND ANALYSIS
8.3. MEDICAL BIOTECHNOLOGY
8.3.1. Overview
8.3.2. Medical Biotechnology Market Forecast and Analysis
8.4. PLANT BIOTECHNOLOGY
8.4.1. Overview
8.4.2. Plant Biotechnology Market Forecast and Analysis
8.5. ANIMAL BIOTECHNOLOGY
8.5.1. Overview
8.5.2. Animal Biotechnology Market Forecast and Analysis
8.6. FORENSIC BIOTECHNOLOGY
8.6.1. Overview
8.6.2. Forensic Biotechnology Market Forecast and Analysis
8.7. ENVIRONMENTAL BIOTECHNOLOGY
8.7.1. Overview
8.7.2. Environmental Biotechnology Market Forecast and Analysis
9. BIOINFORMATICS SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. CLINICAL DIAGNOSTICS
9.3.1. Overview
9.3.2. Clinical Diagnostics Market Forecast and Analysis
9.4. DRUG DEVELOPMENT
9.4.1. Overview
9.4.2. Drug Development Market Forecast and Analysis
9.5. RESEARCH APPLICATION
9.5.1. Overview
9.5.2. Research Application Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. BIOINFORMATICS SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS
10.3.1. Overview
10.3.2. Hospitals Market Forecast and Analysis
10.4. PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES
10.4.1. Overview
10.4.2. Pharmaceutical and Biotechnology Companies Market Forecast and Analysis
10.5. ACADEMIC INSTITUTES AND RESEARCH CENTERS
10.5.1. Overview
10.5.2. Academic Institutes and Research Centers Market Forecast and Analysis
10.6. DIAGNOSTICS LABORATORIES
10.6.1. Overview
10.6.2. Diagnostics Laboratories Market Forecast and Analysis
11. BIOINFORMATICS SERVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Bioinformatics Services Market Overview
11.1.2 North America Bioinformatics Services Market Forecasts and Analysis
11.1.3 North America Bioinformatics Services Market Forecasts and Analysis - By Type
11.1.4 North America Bioinformatics Services Market Forecasts and Analysis - By Specialty
11.1.5 North America Bioinformatics Services Market Forecasts and Analysis - By Application
11.1.6 North America Bioinformatics Services Market Forecasts and Analysis - By End User
11.1.7 North America Bioinformatics Services Market Forecasts and Analysis - By Countries
11.1.7.1 United States Bioinformatics Services Market
11.1.7.1.1 United States Bioinformatics Services Market by Type
11.1.7.1.2 United States Bioinformatics Services Market by Specialty
11.1.7.1.3 United States Bioinformatics Services Market by Application
11.1.7.1.4 United States Bioinformatics Services Market by End User
11.1.7.2 Canada Bioinformatics Services Market
11.1.7.2.1 Canada Bioinformatics Services Market by Type
11.1.7.2.2 Canada Bioinformatics Services Market by Specialty
11.1.7.2.3 Canada Bioinformatics Services Market by Application
11.1.7.2.4 Canada Bioinformatics Services Market by End User
11.1.7.3 Mexico Bioinformatics Services Market
11.1.7.3.1 Mexico Bioinformatics Services Market by Type
11.1.7.3.2 Mexico Bioinformatics Services Market by Specialty
11.1.7.3.3 Mexico Bioinformatics Services Market by Application
11.1.7.3.4 Mexico Bioinformatics Services Market by End User
11.2. EUROPE
11.2.1 Europe Bioinformatics Services Market Overview
11.2.2 Europe Bioinformatics Services Market Forecasts and Analysis
11.2.3 Europe Bioinformatics Services Market Forecasts and Analysis - By Type
11.2.4 Europe Bioinformatics Services Market Forecasts and Analysis - By Specialty
11.2.5 Europe Bioinformatics Services Market Forecasts and Analysis - By Application
11.2.6 Europe Bioinformatics Services Market Forecasts and Analysis - By End User
11.2.7 Europe Bioinformatics Services Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Bioinformatics Services Market
11.2.7.1.1 Germany Bioinformatics Services Market by Type
11.2.7.1.2 Germany Bioinformatics Services Market by Specialty
11.2.7.1.3 Germany Bioinformatics Services Market by Application
11.2.7.1.4 Germany Bioinformatics Services Market by End User
11.2.7.2 France Bioinformatics Services Market
11.2.7.2.1 France Bioinformatics Services Market by Type
11.2.7.2.2 France Bioinformatics Services Market by Specialty
11.2.7.2.3 France Bioinformatics Services Market by Application
11.2.7.2.4 France Bioinformatics Services Market by End User
11.2.7.3 Italy Bioinformatics Services Market
11.2.7.3.1 Italy Bioinformatics Services Market by Type
11.2.7.3.2 Italy Bioinformatics Services Market by Specialty
11.2.7.3.3 Italy Bioinformatics Services Market by Application
11.2.7.3.4 Italy Bioinformatics Services Market by End User
11.2.7.4 Spain Bioinformatics Services Market
11.2.7.4.1 Spain Bioinformatics Services Market by Type
11.2.7.4.2 Spain Bioinformatics Services Market by Specialty
11.2.7.4.3 Spain Bioinformatics Services Market by Application
11.2.7.4.4 Spain Bioinformatics Services Market by End User
11.2.7.5 United Kingdom Bioinformatics Services Market
11.2.7.5.1 United Kingdom Bioinformatics Services Market by Type
11.2.7.5.2 United Kingdom Bioinformatics Services Market by Specialty
11.2.7.5.3 United Kingdom Bioinformatics Services Market by Application
11.2.7.5.4 United Kingdom Bioinformatics Services Market by End User
11.2.7.6 Rest of Europe Bioinformatics Services Market
11.2.7.6.1 Rest of Europe Bioinformatics Services Market by Type
11.2.7.6.2 Rest of Europe Bioinformatics Services Market by Specialty
11.2.7.6.3 Rest of Europe Bioinformatics Services Market by Application
11.2.7.6.4 Rest of Europe Bioinformatics Services Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Bioinformatics Services Market Overview
11.3.2 Asia-Pacific Bioinformatics Services Market Forecasts and Analysis
11.3.3 Asia-Pacific Bioinformatics Services Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Bioinformatics Services Market Forecasts and Analysis - By Specialty
11.3.5 Asia-Pacific Bioinformatics Services Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Bioinformatics Services Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Bioinformatics Services Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Bioinformatics Services Market
11.3.7.1.1 Australia Bioinformatics Services Market by Type
11.3.7.1.2 Australia Bioinformatics Services Market by Specialty
11.3.7.1.3 Australia Bioinformatics Services Market by Application
11.3.7.1.4 Australia Bioinformatics Services Market by End User
11.3.7.2 China Bioinformatics Services Market
11.3.7.2.1 China Bioinformatics Services Market by Type
11.3.7.2.2 China Bioinformatics Services Market by Specialty
11.3.7.2.3 China Bioinformatics Services Market by Application
11.3.7.2.4 China Bioinformatics Services Market by End User
11.3.7.3 India Bioinformatics Services Market
11.3.7.3.1 India Bioinformatics Services Market by Type
11.3.7.3.2 India Bioinformatics Services Market by Specialty
11.3.7.3.3 India Bioinformatics Services Market by Application
11.3.7.3.4 India Bioinformatics Services Market by End User
11.3.7.4 Japan Bioinformatics Services Market
11.3.7.4.1 Japan Bioinformatics Services Market by Type
11.3.7.4.2 Japan Bioinformatics Services Market by Specialty
11.3.7.4.3 Japan Bioinformatics Services Market by Application
11.3.7.4.4 Japan Bioinformatics Services Market by End User
11.3.7.5 South Korea Bioinformatics Services Market
11.3.7.5.1 South Korea Bioinformatics Services Market by Type
11.3.7.5.2 South Korea Bioinformatics Services Market by Specialty
11.3.7.5.3 South Korea Bioinformatics Services Market by Application
11.3.7.5.4 South Korea Bioinformatics Services Market by End User
11.3.7.6 Rest of Asia-Pacific Bioinformatics Services Market
11.3.7.6.1 Rest of Asia-Pacific Bioinformatics Services Market by Type
11.3.7.6.2 Rest of Asia-Pacific Bioinformatics Services Market by Specialty
11.3.7.6.3 Rest of Asia-Pacific Bioinformatics Services Market by Application
11.3.7.6.4 Rest of Asia-Pacific Bioinformatics Services Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Bioinformatics Services Market Overview
11.4.2 Middle East and Africa Bioinformatics Services Market Forecasts and Analysis
11.4.3 Middle East and Africa Bioinformatics Services Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Bioinformatics Services Market Forecasts and Analysis - By Specialty
11.4.5 Middle East and Africa Bioinformatics Services Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Bioinformatics Services Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Bioinformatics Services Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Bioinformatics Services Market
11.4.7.1.1 South Africa Bioinformatics Services Market by Type
11.4.7.1.2 South Africa Bioinformatics Services Market by Specialty
11.4.7.1.3 South Africa Bioinformatics Services Market by Application
11.4.7.1.4 South Africa Bioinformatics Services Market by End User
11.4.7.2 Saudi Arabia Bioinformatics Services Market
11.4.7.2.1 Saudi Arabia Bioinformatics Services Market by Type
11.4.7.2.2 Saudi Arabia Bioinformatics Services Market by Specialty
11.4.7.2.3 Saudi Arabia Bioinformatics Services Market by Application
11.4.7.2.4 Saudi Arabia Bioinformatics Services Market by End User
11.4.7.3 U.A.E Bioinformatics Services Market
11.4.7.3.1 U.A.E Bioinformatics Services Market by Type
11.4.7.3.2 U.A.E Bioinformatics Services Market by Specialty
11.4.7.3.3 U.A.E Bioinformatics Services Market by Application
11.4.7.3.4 U.A.E Bioinformatics Services Market by End User
11.4.7.4 Rest of Middle East and Africa Bioinformatics Services Market
11.4.7.4.1 Rest of Middle East and Africa Bioinformatics Services Market by Type
11.4.7.4.2 Rest of Middle East and Africa Bioinformatics Services Market by Specialty
11.4.7.4.3 Rest of Middle East and Africa Bioinformatics Services Market by Application
11.4.7.4.4 Rest of Middle East and Africa Bioinformatics Services Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Bioinformatics Services Market Overview
11.5.2 South and Central America Bioinformatics Services Market Forecasts and Analysis
11.5.3 South and Central America Bioinformatics Services Market Forecasts and Analysis - By Type
11.5.4 South and Central America Bioinformatics Services Market Forecasts and Analysis - By Specialty
11.5.5 South and Central America Bioinformatics Services Market Forecasts and Analysis - By Application
11.5.6 South and Central America Bioinformatics Services Market Forecasts and Analysis - By End User
11.5.7 South and Central America Bioinformatics Services Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Bioinformatics Services Market
11.5.7.1.1 Brazil Bioinformatics Services Market by Type
11.5.7.1.2 Brazil Bioinformatics Services Market by Specialty
11.5.7.1.3 Brazil Bioinformatics Services Market by Application
11.5.7.1.4 Brazil Bioinformatics Services Market by End User
11.5.7.2 Argentina Bioinformatics Services Market
11.5.7.2.1 Argentina Bioinformatics Services Market by Type
11.5.7.2.2 Argentina Bioinformatics Services Market by Specialty
11.5.7.2.3 Argentina Bioinformatics Services Market by Application
11.5.7.2.4 Argentina Bioinformatics Services Market by End User
11.5.7.3 Rest of South and Central America Bioinformatics Services Market
11.5.7.3.1 Rest of South and Central America Bioinformatics Services Market by Type
11.5.7.3.2 Rest of South and Central America Bioinformatics Services Market by Specialty
11.5.7.3.3 Rest of South and Central America Bioinformatics Services Market by Application
11.5.7.3.4 Rest of South and Central America Bioinformatics Services Market by End User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. BIOINFORMATICS SERVICES MARKET, KEY COMPANY PROFILES
13.1. THERMO FISHER SCIENTIFIC INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. ILLUMINA, INC
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. PERKINELMER, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. BGI
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. SOURCE BIOSCIENCE
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. QIAGEN
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. CD GENOMICS
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. GENEWIZ
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. BASECLEAR B.V.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. FIOS GENOMICS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
- Thermo Fisher Scientific Inc.
- Illumina, Inc
- PerkinElmer, Inc.
- BGI
- Source BioScience
- QIAGEN
- CD Genomics
- GENEWIZ
- BaseClear B.V.
- Fios Genomics
- Eurofins Scientific
- NeoGenomics
- Psomagen, Inc
- Microsynth
- MedGenome
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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