Bioinformatics Market size to increase by USD 12.95 billion, Increasing R&D investments by pharmaceutical and biopharmaceutical companies to boost market growth - Technavio

NEW YORK, Feb. 29, 2024 /PRNewswire/ -- Technavio has been monitoring the Bioinformatics Market, operating under the health care segment. The latest report estimates the market to register an incremental growth of USD 12.95 billion, at a CAGR of 17.07% during the forecast period. The report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. 

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Agilent Technologies Inc., Bio Rad Laboratories Inc., Biomax Informatics AG, Brooks Automation Inc., DNASTAR Inc., Genedata AG, Geneva Bioinformatics SA, Illumina Inc., Intrexon Bioinformatics Germany GmbH, Partek Inc., PerkinElmer Inc., Source BioScience, Thermo Fisher Scientific Inc., Waters Corp., and ZS Associates Inc. are among some of the major market participants. Request the Latest Free sample report. 

Increasing R&D investments by pharmaceutical and biopharmaceutical companies have been instrumental in driving the growth of the market. However, a shortage of trained laboratory professionals might hamper the market growth.

Market Segmentation

Based on geographic segmentation, Over 46% of the market's originated from North America during the forecast period. In addition, the platform segment will lead the growth under the product segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the bioinformatics market size.

• Product 
• Platforms
• Tools
• Services
• Geography 
• North America
• Europe
• Asia
• Rest Of World (ROW)

Market Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The bioinformatics market report covers the following areas:

• Bioinformatics Market Size
• Bioinformatics Market Trends
• Bioinformatics Market Industry Analysis

This study identifies the development of sophisticated bioinformatics tools for NGS as one of the prime reasons driving the Bioinformatics Market growth during the next few years. Download Sample Report.

Analyst Review

The bioinformatics market is experiencing exponential growth, fueled by advancements in precision medicine and increased pharma biotech R&D expenditure. One of the pivotal factors driving this expansion is the declining cost of genome sequencing, making it more accessible for research and clinical applications. As a result, equipment costs have also become more manageable, facilitating the widespread adoption of next-generation sequencing (NGS) technologies.

In this dynamic landscape, user-friendly tools are paramount, enabling researchers to navigate complex datasets with ease. Genomics instruments are continuously evolving to meet the demands of emerging markets where genomics research is flourishing.

The integration of genomics and transcriptomics data is revolutionizing approaches to personalized medicine and drug discovery. This synergy allows for a deeper understanding of molecular mechanisms underlying diseases, leading to more targeted therapies and diagnostics in clinical diagnostics.

However, alongside these advancements come challenges, notably patient data confidentiality concerns. As more personalized medicine approaches rely on patient genomic information, ensuring data security and privacy becomes increasingly crucial.

Overall, the bioinformatics market is poised for further expansion as it continues to drive innovation in healthcare, pharmaceuticals, and beyond. With a focus on leveraging NGS technologies, developing user-friendly tools, and addressing patient data confidentiality concerns, the field is set to revolutionize how we understand and treat diseases on an individualized level. The Bioinformatics Market is witnessing exponential growth driven by Precision Medicine advancements. Pharma Biotech R&D expenditure fuels innovation, reducing Cost of Genome Sequencing and Equipment costs. Next-Generation Sequencing (NGS) technologies are pivotal, shaping the industry's trajectory. Download Sample Report.

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Table of Contents:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio