Bioinformatics Market Size Will Reach USD 18.23 Billion in 2025 | CAGR of 13.8% - Valuates Reports
22 Apr, 2020, 08:30 ET
BANGALORE, India, April 22, 2020 /PRNewswire/ -- Bioinformatics is a science of processing, retrieving, and analysing vast quantities of biological information. It is an interdisciplinary field involving several different categories of experts, including biologists, molecular life scientists, computer scientists and mathematicians. It includes collecting biological data, preparation of a computational model, solving computational modeling problems, and evaluation of computational algorithms. Bioinformatics uses computation to extract knowledge from biological data, which can be used in drug discovery and developments.
The global bioinformatics market size was estimated at USD 6.38 billion in 2017 and is projected to reach USD 18.23 billion in 2025, at a CAGR of 13.8% between 2018 and 2025.
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With the advent of new technologies such as nanopore sequencing (third-generation sequencing technique) and cloud computing, the market is expected to deliver substantial opportunities for bioinformatics manufacturers. However, factors such as the lack of trained personnel to ensure the proper use of bioinformatics tools and the lack of integration of a wide range of data produced by various bioinformatics platforms are hindering market growth.
TRENDS INFLUENCING THE BIOINFORMATICS MARKET SIZE
- The global bioinformatics market is expected to develop significantly in the near future due to an increase in the need for integrated data, growth in demand for nucleic acid & protein sequencing due to lower sequencing costs, and increase in proteomics & genomics applications.
- Bioinformatics approaches to discovery and testing are more effective than conventional methods. With the aid of bioinformatics software, much of the information on drug candidates is validated at a molecular level, which tends to minimize drug resistance at the later stage of drug development. This ensures better results in clinical trials and makes the drug development process more cost-efficient. This cost-efficient feature of bioinformatics is expected to increase the bioinformatics market size.
- Bioinformatics in the clinical diagnostics field involves an examination of the human genome in regard to the diagnosis of the disease. This includes the study of various omics technologies such as proteomics, metabolomics, metagenomics, epigenetics, and transcriptomics. Data produced by various omics technologies have helped to establish bioinformatics methodologies for clinical research and the creation of human databases. Such analytical methods are also used to explain knowledge on the origin, evolution, progression and treatment of diseases, leading to the advancement of personalized medicine. Thus, the growing use of bioinformatics software by clinicians is leading to the growth of the bioinformatics market size.
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BIOINFORMATICS MARKET SHARE ANALYSIS
- North America dominated the market in 2017, accounting for the largest share, and is anticipated to continue this trend during the forecast period. This is due to upsurge in adoption of advanced technologies and increase in demand for better bioinformatics tools, which are needed in the drug discovery and development process.
- The market in LAMEA is expected to expand at the highest level of CAGR during the forecast period, due to advances in genomics and proteomics, generating a vast amount of data to be interpreted and controlled. In addition, the bioinformatics field is still at an early stage in the area where research activities are slowly increasing.
Bioinformatics Market segment by Regions/Countries, this report covers
- North America
- Southeast Asia
- Central and South America etc.
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The key players covered in this study
- Thermo Fisher Scientific
- Eurofins Scientific
- CD Genomics
- Source BioScience
- Fios Genomics
Bioinformatics Market segment by Type, the product can be split into
- Sequencing Services
- Data Analysis
- Drug Discovery Services
Bioinformatics Market segment by Application, split into
- Chemoinformatics and Drug Design
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● Bioinformatics Services Market Report
The global Bioinformatics Services market size was USD 1.36 billion in 2019 and is predicted to hit USD 2.69 billion by the end of 2026, with a CAGR of 10.1 percent by 2021-2026.
Factors such as the public-private sector funding for bioinformatics services, the lack of qualified bioinformatics professionals leading to increased outsourcing of bioinformatics projects and the use of bioinformatics in various industries are expected to drive the growth of the bioinformatics services market.
Depending on the type, the market for bioinformatics services is divided into sequencing services, data analysis services, drug discovery services, differential gene expression analysis, database management services, and other services. The sequencing services segment is projected to account for the largest share of the bioinformatics services market in 2018, due to increased government and private funding for next-generation sequencing related initiatives, technical advances in next-generation sequencing coupled with decreasing sequencing costs, and the need for a high-performance study of large quantities.
In terms of region, North America is expected to remain dominant in the global bioinformatics services market due to substantial R&D expenditure, increased acceptance of technological advances, and rising investment in bioinformatics technological innovations. Increasing drug discovery and growth, coupled with increased government initiatives to support start-up companies in the biotechnology and life sciences industries, is a key factor expected to drive the demand for bioinformatics services in North America during the forecast period.
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● Bioinformatics Cloud Platform Market Report
The regions of Europe and North America are predicted to show upward growth in the years to come. The Bioinformatics Cloud Platform Market in Asia-Pacific regions is expected to show remarkable growth during the forecast period. Cutting edge technology and innovation are the most important features of the North American region, which is why the US dominates global markets most of the time. Bioinformatics Cloud Platform Market is also expected to grow in the region of South America in the future.
This study focuses on the global status of Bioinformatics Cloud Platform Market future projections, growth prospects, key markets and key players. The objectives of the study are to present the development of Bioinformatics Services in North America, Europe, China, Japan, South East Asia, India and Central and South America.
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● Biomarkers Market Report
The Biomarker Market size for Diagnostic Applications is projected to collect USD 30.6 Billion globally by 2020, accounting for a CAGR of 16 % over the 2013 to 2020 forecast period.
A biomarker is an observable measure of the extent or occurrence of a disease. More commonly, a biomarker is something that can be used as an indication of a disease or other physiological condition of the organism.
Diagnostic biomarkers are minimal or non-invasive devices. Biomarkers, combined with main imaging and data processing technologies, are meeting consumer expectations; however, they have also been set back. Biomarkers are used in imaging technology to provide clear imaging of oncology tumors and other problems and also eliminate the chance of radiation exposure during imaging through CT scan and MRI scan.
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● Biosimilars Market Report
The global biosimilars / follow-on-biologics market size accounted for total revenue of USD 2.55 Billion in 2014 and is expected to produce an approximate revenue of USD 26.55 Billion by 2020 at a CAGR of 49.1% from 2015 to 2020.
A biosimilar is a biologic medical product that is very similar to another already licensed biomedicine. Biosimilars are licensed in compliance with the same pharmaceutical quality, protection and efficacy requirements as all biomedicines.
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● Neurological Biomarkers Market Report
The global neurological biomarkers market size is estimated at USD 4.71 Billion in 2018 and will hit USD 8.95 Billion by the end of 2025, rising at a CAGR of 9.6 % between 2019 and 2025.
This research report categorizes the global market for Neurological Biomarkers by top players / brands, country, size and end users. The study also explores the global market position of Neurological Biomarkers, the competitive environment, market size, growth rate, future trends, market factors, opportunities and challenges, distribution channels and distributors.
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● Global Cancer Biomarkers Market
The Global Cancer Biomarkers Market size is projected to rise from USD 12.63 Billion in 2018 to USD 26.83 Billion at a CAGR of 11.36% by the end of 2025.
Increased use of cancer biomarkers in drug discovery and development, technological advancement coupled with cancer biomarker research, increased incidence of cancer worldwide and increased acceptance for treatment in developing economies, and Paradigm Shift in Healthcare from Disease Diagnosis to Risk Assessment or Early Diagnosis are factors attributing to market growth.
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