PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407970
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1407970
Global Bioinformatics Market is valued at approximately USD 10.1 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 13.7% over the forecast period 2023-2030. Bioinformatics is an interdisciplinary field that combines biology, computer science, mathematics, and information technology to manage and analyze biological data, particularly in the context of genomics and molecular biology. It involves the application of computational techniques to store, retrieve, process, and interpret biological information, such as DNA sequences, protein structures, and gene expressions. The Bioinformatics Market is expanding because of factors such as increasing research on molecular biology and drug discovery, rising FDA approval, and increasing initiatives from governments and private organizations.
Rising number of drug approval activities is driving the market growth. As the pharmaceutical and biotechnology industries witness an increasing pace of drug development and regulatory approvals, the demand for advanced bioinformatics tools and solutions has surged. Bioinformatics plays a pivotal role in analyzing large-scale biological data, deciphering complex genomic information, and facilitating a deeper understanding of drug interactions According to data presented in the Mid-Year Review of New Drug Approvals for June 2021, the US FDA and Center for Drug Evaluation and Research (CDER) had already approved 26 New Molecular Entities (NMEs) by June 28, 2021. This approval rate was in line with the total number of NMEs approved for the entire year in 2020, which stood at 53. Except for 2018, when 59 NMEs received approval, the figure for 2020 was the second highest over the past decade. The increasing number of approvals by the FDA is expected to stimulate research and development endeavors in the pharmaceutical industry. This, in turn, would drive the demand for databases and software solutions to facilitate the drug design and development process, thereby fostering the growth of this market. In addition, accelerating the growth of proteomics and genomics and rising investment in research and development activities is creating new opportunities to the market growth. However, the lack of well-defined standards and common data formats for integration of data and data complexity concerns as well as lack of user-friendly tools stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Bioinformatics Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to a surge in research efforts focused on nucleic acids and genetic engineering, augmented funding for pioneering drug discovery through proteomic and metagenomic methods, and a growing recognition of the significance of biological data. Asia Pacific is expected to grow significantly over the forecast period, owing to rising demand for personalized medicine, rising research and development activities, and rising investment in the healthcare industry in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable