The global bioinformatics services market is expected to reach USD 3.53 Billion by 2023 from USD 1.70 Billion in 2018, at a CAGR of 15.7% during the forecast period.
Factors such as increasing public-private sector funding for bioinformatics services, the shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects, and growing applications of bioinformatics in various industries are expected to drive the growth of the global market.
The in-house development of bioinformatics solutions and publically available bioinformatics tools are expected to restrain the growth of the bioinformatics services market in the forecast period.
As of 2017, Illumina (US) dominated the global bioinformatics services market through its broad product portfolio, strong geographical presence, and wide customer base across the globe. To maintain its leadership position in the market, the company has been focusing on technological advancements in the field of bioinformatics. Thermo Fisher Scientific (US) held the second leadership position in the global market.
Other prominent players in the global bioinformatics services market included Eurofins Scientific (Luxembourg), BGI (China), NeoGenomics (US), PerkinElmer (US), CD Genomics (US), Macrogen (South Korea), QIAGEN (Germany), GENEWIZ (US), Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios Genomics (UK), and BaseClear (Netherlands), among others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Bioinformatics Services: Market Overview 4.2 Bioinformatics Services Market, By Type (2018 vs 2023) 4.3 Global Market, By Application (2018 vs 2023) 4.4 Global Market, By Specialty (2018 vs 2023) 4.5 Global Market, By Region and End User, 2018 vs 2023 (USD Million)
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 184.108.40.206 Growing Applications of Bioinformatics in Various Industries 220.127.116.11 Increasing Public-Private Sector Funding for Bioinformatics Services 18.104.22.168 Shortage of Skilled Bioinformatics Professionals Leading to Increased Outsourcing of Bioinformatics Projects 5.2.2 Restraints 22.214.171.124 In-House Development of Bioinformatics Solutions and Publically Available Bioinformatics Tools 5.2.3 Opportunities 126.96.36.199 Reducing Cost of Sequencing and Growing Volume of Data Generated During Sequencing 188.8.131.52 Growing Focus on Outsourcing for the Management of Large Volumes of Data 184.108.40.206 Emerging Markets 5.2.4 Challenges 220.127.116.11 Complexity of Data 18.104.22.168 Lack of Well-Defined Standards for Bioinformatics Analysis
6 Bioinformatics Services Market, By Type 6.1 Introduction 6.2 Sequencing Services 6.2.1 Whole Genome Sequencing and De Novo Assembly 6.2.2 Exome Analysis 6.2.3 Transcriptome Analysis 6.2.4 Metagenomic Analysis 6.2.5 Chip-Seq Analysis 6.2.6 Other Sequencing Analysis 6.3 Data Analysis 6.3.1 Data Mining 6.3.2 Genomic Analysis 6.3.3 Proteomic Analysis 6.3.4 Variant Annotation and Discovery 6.4 Drug Discovery Services 6.5 Differential Gene Expression Analysis 6.6 Database and Management Services 6.7 Other Bioinformatics Services