Bioinformatics Market Size Worth $34.74Bn by 2028 at 15.7% CAGR Led by Bioinformatics Platforms Segment (48.47% Market Share in 2021) COVID-19 Impact and Global Analysis by The Insight Partners

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- The Insight Partners published latest research study on 'Bioinformatics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Bioinformatics Platforms, Knowledge Management Tools, and Bio Informative Services), Application (Genomics, Proteomics, Chemoinformatics & Drug Design, Transcriptomics, Metabolomics, and Others), and Sector (Medical Biotechnology, Animal Biotechnology, Agricultural Biotechnology, Academics, Environmental Biotechnology, Forensic Biotechnology, and Others),' the global bioinformatics market size is expected to grow from $12.60 Billion in 2021 to $34.74 Billion by 2028; it is estimated to grow at a CAGR of 15.7% from 2022 to 2028.

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Bioinformatics Market Report Scope & Strategic Insights:

Global Bioinformatics Market: Competitive Landscape and Key Developments

Agilent Technologies, Inc; Biomax Informatics Ag; Bruker Corporation; Dassault Systems; Eurofins Scientific; Geneva Bioinformatics; Illumina; Perkinelmer; Qiagen; and Thermofisher Scientific, Inc are among the key companies operating in the global bioinformatics market. Leading players focus on expanding and diversifying their market presence and clientele, thereby tapping prevailing business opportunities.

In May 2022, Bruker Corporation and TOFWERK AG announced a strategic partnership for high-speed, ultra-sensitive applied and industrial analytical solutions, in conjunction with a Bruker minority investment in TOFWERK. The partnership provides a basis for technology collaborations to advance instrument capabilities and develop novel analytical applications where high speed and ultra-sensitivity matter.

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In October 2021, QIAGEN announced the completion of the move of its European Center of Excellence for Precision Medicine into facilities in Manchester's CityLabs 2.0, a new genomics campus developed with Health Innovation Manchester. The new center will anchor this world-leading genomics campus in the heart of Manchester's health-innovation district and underline the city's role as QIAGEN's global hub for diagnostics development, a crucial element of the company's global success.

Bioinformatics Market: Key Insights

The bioinformatics market growth is attributed to increasing funding and investments in bioinformatics and rising number of genomic research activities with the corresponding adoption of bioinformatics. However, the lack of interoperability and multiplatform capabilities hinders the overall market growth. The genomics segment dominated the global bioinformatics market and accounted for the largest market share of 28.33% in 2021. The medical biotechnology segment dominated the global bioinformatics market and held the largest market share of 29.18% in 2021.

North America dominates the global bioinformatics market. The US bioinformatics market holds the largest share in North America. The market growth is attributed to growing healthcare and research expenditure, increasing pharmaceutical and biopharmaceutical companies, and growing government support to enhance the research and academic institutes. According to US Centers for Medicare & Medicaid Services, the national healthcare expenditure in the US increased by 9.7% in 2019 to reach US$ 4.1 trillion in 2020. National health spending is expected to grow at a 5.4% annual rate from 2019 to 2028, and it is expected to reach US$ 6.2 trillion by 2028.

The US government initiated various research programs to boost 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 precision medicine discoveries through bioinformatics services in different institutions in the US. Further, rapid healthcare expenditure growth results in new diagnostic tools for evaluating various genetic diseases and cancer studies for potential medical treatments. Likewise, the pharmaceutical & biopharmaceutical industry's growth is significantly contributing to the US bioinformatics market growth.

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The supportive environment in the US accelerates 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.

Bioinformatics Market Insights - Rising Demand for Personalized Medicine:

Personalized medicine is an emerging practice of medicine in which the genetic profile of an individual is used to lead decisions regarding prevention, diagnosis, and treatment of disease. The genetic profile of a patient assists doctors in precisely calculating a patient's susceptibility to specific diseases and allows them to prescribe the patient a proper medication with reduced side effects. In personalized medicine, bioinformatics can be used to explore any possible mutations or gene variants affecting a patient's response to a particular drug/treatment by analyzing the patient's genome sequencing or microarray gene expression.

The patient-specific medication is developed through bioinformatics tools. Bioinformatics devices may furnish better conclusions at the genomic level with prior identification of infection and better focus on treatment through improved personalized medicine. Therefore, the rising demand for personalized medicine, especially for rare diseases and cancer, is expected to provide growth opportunities for the bioinformatics market.

In January 2021, Illumina, Inc. transformed 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.

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In December 2020, Eurofins Genomics launched an optimized, cost-effective SARS-CoV-2, next-generation sequencing service providing full-length viral genome sequences. The NGS service and ARTIC NGS oligo kit are Eurofins' latest additions to a comprehensive product portfolio to support researchers globally in developing vaccines and in their fight against the COVID-19 pandemic.

Such advancements and the rise in investments are significantly propelling the global bioinformatics market growth.

Global Bioinformatics Market: Segmental Overview

Based on product, the global bioinformatics market is segmented into bioinformatics platforms, knowledge management tools, and bio informative services. In 2021, the bioinformatics platforms segment accounted for the largest market share. The knowledge management tools segment is anticipated to register the highest CAGR during the forecast period. Based on application, the global 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, the chemo informatics and drug design segment are anticipated to register the highest CAGR during the forecast period. Based on sector, the global bioinformatics market is segmented 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 during the forecast period.

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Impact of COVID-19 on Bioinformatics Market Growth:

The 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, and 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 market is equipped with a technologically advanced research industry.

Browse Adjoining Reports:

Bioinformatics Platforms Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform Type (Sequence Analysis Platform, sequence Alignment Platform, Structural and Functional Analysis Platforms, and Others); Application (Drug Development, Molecular Genomics, Gene Therapy, Personalized Medicines, and Others); End User (Academic and Research Institutes, Contract Research Organizations, and Biotechnology Organizations), and Geography

Genomics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction and Purification, and Others), Product & Service (Instruments/Systems, Consumables, and Services), Application (Diagnostics, Drug Discovery and Development, Precision/Personalized Medicine, Agriculture & Animal Research, and Others) and End User (Research Centers, Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, and Others)

Chemoinformatics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Drug Discovery, Chemical Analysis, Drug Validation, Other Applications); End user (Chemical And Pharmaceutical Industry, Research And Academic Institution, Regulatory Centers, Others)

RNA Analysis/Transcriptomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Consumables, Instruments, Software and Services); Technology (Microarray, Real-Time Quantitative Polymerase Chain Reaction, and Sequencing Technologies); Application (Diagnostics and Disease Profiling, Drug Discovery and Others); End User (Government Institutes and Academic Centers, Pharmaceutical and Biotechnological Companies and Contract Research Organization)

Transcriptomics Technologies Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product ( Reagent, Instrument, Software ); Technology ( Microarrays, Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Gene Regulation Technologies ); Application ( Clinical Diagnostics, Drug Discovery and Research, Bioinformatics, Toxicogenomics, Comparative Transcriptomics Studies ); End User ( Academic Research and Government Institutes, Pharmaceutical and Biotechnology Companies, Hospitals and Diagnostic Centers ) and Geography

Spatial Genomics and Transcriptomics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Spatial Transcriptomics, Spatial Genomics); Product (Instruments, Consumables, Software); End User (Translational Research, Academic Institutes, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies) and Geography

Metabolomics Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type (Targeted Metabolomics Service and Untargeted Metabolomics Service) and Application (Pharmaceutical and Biotechnology Industry, Agritech, and Environment)

Neurological Biomarker Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Proteomics Biomarker, Genomics Biomarker, Metabolomics Biomarker, Imaging Biomarker, Others); Application (Alzheimer's Disease, Parkinson's Disease, Schizophrenia, Huntington's Disease, Spinal Muscular Atrophy, Others); End User (Pharmaceutical and Biotechnology Companies, Clinical Diagnostics, Research Organizations); and Geography

Biotechnology Market to 2025 - Global Analysis and Forecasts by Technology (DNA Sequencing, Fermentation, Cell-Based Assay, Nanobiotechnology, Chromatography, PCR Technology, Tissue Engineering and Regeneration, and Other Technologies), and Application (Industrial Processing, Bioinformatics, Food & Agriculture, Health, Natural Resources & Environment, and Other Applications)

Drug Designing Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution (Multi Databases, Virtual Screening Tools, Structure Designing Tools, Predictive Analytics, Model Building Tools, Others); Application (Chemical Screening, Molecular Modeling, Target Prediction, Binding Site Prediction, Docking, Energy Minimization, Others); End-User (Pharmaceutical Companies, Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations, Others)

Epigenetics Market Forecast to 2025 – COVID-19 Impact and Global Analysis – by Product (Reagents, Kits, Enzymes, Instruments & Consumables, and Bioinformatics Tools), Technology (Histone Modification, DNA Methylation, and Others), Application (Oncology, Cardiovascular Diseases, and Others) End Users (Academic & Research Institutes, Biotechnology & Pharmaceutical Companies, and Contract Research Organization)         

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