Bioinformatics Market size is set to grow by USD 8535.52 mn from 2023-2027, reduction in cost of genetic sequencing to boost the market growth, Technavio

NEW YORK, May 12, 2024 /PRNewswire/ -- The global bioinformatics market  size is estimated to grow by USD 8535.52 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  13%  during the forecast period. 

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Market Driver

The Bioinformatics market is experiencing significant growth due to the advancement of Next-Generation Sequencing (NGS) technologies. Companies like NeoGenomics Laboratories, Fios Genomics, Partek Incorporated, SOPHiA Genetics, Source BioScience, and others offer commercial solutions for NGS analysis. Bioinformatics tools employ mathematical and statistical approaches to interpret genomic, cellular, and molecular data. Precision medicine, diagnostics, epidemiological research, and medical treatment all benefit from this technology. Key players in the market include Illumina, CanCoGen, Thermo Fisher Scientific, Agilent Technologies, and Qiagen. Applications range from virus sequencing and transmission chain analysis to vaccine development and therapeutic strategies. Big data analysis, database development, and gene therapy are also driving market expansion. 

Market Challenges

• Bioinformatics is a dynamic field encompassing various processes, from careful handling of apparatus and application of reagents in protein research experiments, to the interpretation of results using advanced technologies such as Illumina, HostSeq, VirusSeq, CanCoGen, and Nucleic acid sequencing.
• Key players in this market include Thermo Fisher Scientific, Agilent Technologies, Qiagen, and ATCC. Researchers utilize genomics, proteomics, and molecular biology to identify disease biomarkers and develop therapeutic strategies, while big data analysis and database development facilitate vaccine and drug development. Virus variability and transmission chains necessitate public health control and containment measures, with SARS-CoV-2 being a recent example. Key technologies include RNA and DNA sequencing, protein sequencing, and strand life sciences.

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Segment Overview 

This bioinformatics market report extensively covers market segmentation by

1. Application 
• 1.1 Molecular phylogenetics
• 1.2 Transcriptomic
• 1.3 Proteomics
• 1.4 Metabolomics
2. Product 
• 2.1 Platforms
• 2.2 Tools
• 2.3 Services
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Molecular phylogenetics-  The bioinformatics market is a scientific domain that utilizes advanced technologies to analyze RNA and DNA sequences for various applications. Strand Life Sciences, a key player in this field, employs molecular phylogenetics to decipher genome sequencing data, contributing to precision medicine and personalized treatment plans. Equipment costs for genomics instruments, such as NGS technologies from Illumina, have decreased, making these tools more accessible for research platforms. Transcriptomics, a branch of genomics, is crucial for understanding gene expression and its role in disease diagnosis and drug discovery. NeoGenomics Laboratories, Fios Genomics, Partek Incorporated, SOPHiA Genetics, Source BioScience, and others employ these technologies to sequence viral genomes, monitor transmission chains, and develop diagnostic methods for public health control. VirusSeq and HostSeq from Illumina, CanCoGen's nucleic acid sequencing, and protein sequencing through Proteomics are essential for understanding virus variability and developing vaccines. These advancements in bioinformatics have revolutionized the field, enabling the study of viruses and their evolution, as well as the development of targeted therapeutics and diagnostic methods.

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Research Analysis

The Bioinformatics market plays a pivotal role in the advancement of precision medicine, particularly in the realm of genome sequencing. NGS technologies and genomics instruments from companies such as Illumina, Eurofins Scientific, BGI, NanoString, Indivumed GmbH, Strand Life Sciences, and Healthcare Global Enterprises, are driving down the costs of sequencing, enabling researchers to delve deeper into the genetic makeup of viruses and other organisms. Transcriptomics, the study of RNA expression, further expands our understanding of disease transmission chains and virus variability. Bioinformatics tools facilitate the analysis of this data, aiding in public health control and the development of containment measures. Vaccines and diagnostic methods also benefit from bioinformatics, ensuring accurate and efficient identification of viruses and other pathogens.

Market Research Overview

The Bioinformatics market is a significant and rapidly growing sector in the field of genetic research and technology. This industry focuses on the application of various computational tools and techniques to interpret and analyze biological data, particularly in the areas of genomics, proteomics, and transcriptomics. Key components of this market include sequence alignment, gene identification, phylogenetic analysis, and functional annotation. The use of advanced technologies such as Artificial Intelligence, Machine Learning, and Big Data analytics is driving innovation and efficiency in Bioinformatics. The market is also influenced by factors such as increasing research funding, growing demand for personalized medicine, and the need for cost-effective solutions for large-scale data analysis. The market is expected to continue its robust growth in the coming years, with a strong focus on developing user-friendly tools and platforms to facilitate access to complex biological data.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Molecular Phylogenetics
• Transcriptomic
• Proteomics
• Metabolomics
• Product
• Platforms
• Tools
• Services
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio