Bioinformatics Market Size to Grow USD 24,731.61 Million by 2027 at a CAGR of 13.4% | Valuates Reports
BANGALORE, India, March 28, 2023 /PRNewswire/ -- The Global Bioinformatics Market is Segmented by Technology & Services (Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services), Application (Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics, and Others), and Sector (Medical Bioinformatics, Animal Bioinformatics, Agriculture Bioinformatics, Academics, and Others).
The global bioinformatics market size generated USD 8,614.29 Million in 2019 and is projected to reach USD 24,731.61 Million by 2027, growing at a CAGR of 13.4% from 2020 to 2027.
Major factors driving the growth of the Bioinformatics Market:
The demand for integrated data, the rise in protein and nucleic acid sequencing due to lower sequencing costs, and the expansion of proteomics and genomics applications all point to significant growth in the worldwide bioinformatics market in the near future.
During the projected period, activities from both public and private organizations and drug discovery and development are also anticipated to spur bioinformatics market expansion. Developers of bioinformatics solutions should anticipate lucrative market possibilities due to the rising need for integrated solutions and systems, the incorporation of machine learning and AI in healthcare, and software firms' investments in the field.
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TRENDS INFLUENCING THE GROWTH OF BIOINFORMATICS MARKET:
The demand for integrated data, the rise in protein and nucleic acid sequencing due to lower sequencing costs, and the expansion of proteomics and genomics applications all point to significant growth in the worldwide bioinformatics industry in the near future. During the projected period, activities from both public and private organizations and drug discovery and development are also anticipated to spur market expansion. Developers of bioinformatics solutions should anticipate lucrative market possibilities due to the rising need for integrated solutions and systems, the incorporation of machine learning and AI in healthcare, and software firms' investments in the field. This in turn is expected to drive the growth of the bioinformatics market.
Molecular signatures of diseases based on protein pathways and signaling cascades are widely utilized to discover using high-throughput proteomics methods and cutting-edge bioinformatics. Proteomics relies heavily on mass spectrometry, which has evolved into a crucial tool for molecular and cellular biology. This in turn is expected to drive the growth of the bioinformatics market.
Biologists can better analyze and interpret biological data by using bioinformatics, a relatively new and developing field that integrates computer science and biology-related knowledge and tools. Bioinformatics is particularly helpful in the science of genomics, which can produce enormous amounts of data. This in turn is expected to drive the growth of the bioinformatics market.
Applications, tools, and processes for analyzing and extending the use of biological, chemical, medical, behavioral, and health data are provided by bioinformatics and chemoinformatics solutions to R&D groups. These systems can acquire, store, organize, archive, analyze, and visualize data. Cheminformatics facilitates the structural elucidation of molecules isolated from various biological and environmental sources or from reaction pathways. It also assists in the design of reactions and potential synthetic routes. This in turn is expected to drive the growth of the bioinformatics market.
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BIOINFORMATICS MARKET SHARE ANALYSIS:
Due to advances in genomics and proteomics, which produce a vast amount of data that needs to be evaluated and handled, LAMEA is predicted to expand at the greatest CAGR during the projected period. Additionally, in the region where research activities are steadily expanding, the bioinformatics industry is still in its infancy. Thus, when taken as a whole, these variables help the market thrive.
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Key Companies:
- Sophia Genetics
- Biomax Informatics AG
- Waters Corporation
- DNASTAR
- Partek Incorporated
- Thermo Fisher Scientific
- Perkinelmer
- Agilent Technologies Inc
- Illumina Inc
- Eurofins Scientific
- WuXi NextCODE
- Accelrys Inc
- ABM Inc
- BGI Group
- QIAGEN Bioinformatics.
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