Bioinformatics Global Market Report 2024

“Bioinformatics Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on bioinformatics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for bioinformatics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The bioinformatics market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Products and Services: Knowledge Management Tools; Data Analysis Platforms; Services
• 2) By Application: Metabolomics; Molecular Phylogenetics; Transcriptomics; Proteomics; Chemoinformatics; Genomics; Other Applications
• 3) By End Users: Pharmaceutics; Animal Study; Agriculture; Forensic Science; Other End Users
• Companies Mentioned: Agilent Technologies Inc.; Illumina Inc.; QIAGEN NV; Affymetrix Inc.; Thermo Fisher Scientific Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Bioinformatics, closely linked to genetics and genomics, harnesses computer technology to collect, store, analyze, and disseminate biological information and data, encompassing DNA and amino acid sequences, as well as associated annotations.

The primary categories of products and services within the field of bioinformatics encompass knowledge management tools, data analysis platforms, and a range of associated services. Knowledge management tools serve as essential technologies for organizations, enabling the sharing of information both internally and externally. Bioinformatics applications span various domains, including metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, and genomics. These applications find use across diverse industries, including pharmaceuticals, animal studies, agriculture, forensic science, and other end-user segments.

The bioinformatics market research report is one of a series of new reports from The Business Research Company that provides bioinformatics market statistics, including bioinformatics industry global market size, regional shares, competitors with a bioinformatics market share, detailed bioinformatics market segments, market trends and opportunities, and any further data you may need to thrive in the bioinformatics industry. This bioinformatics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bioinformatics market size has grown rapidly in recent years. It will grow from $14.86 billion in 2023 to $16.9 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth observed during the historical period can be attributed to several key factors. These include significant advancements in genomic sequencing technologies, substantial growth in the field of biomedical research, increased focus on drug discovery and development, the emergence of personalized medicine, and applications in agriculture and biotechnology. These factors collectively contributed to the expansion of the genomics and biotechnology market.

The bioinformatics market size is expected to see rapid growth in the next few years. It will grow to $28.27 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. Anticipated growth in the upcoming forecast period is driven by several key factors. These include significant advancements in omics technologies, the growing influence of artificial intelligence (AI) and machine learning, the integration of data with cloud computing, robust developments in biomarker discovery and diagnostics, and the increasing trend of interdisciplinary collaboration. Moreover, several noteworthy trends are expected to shape the market, such as the proliferation of genomic data, the expanding realm of personalized medicine, the accelerated utilization of machine learning and AI, and the ongoing evolution of drug discovery and development processes. These factors collectively contribute to the market's projected growth in the forecasted period.

The bioinformatics market is experiencing substantial growth driven by the increasing demand for protein sequencing. Protein sequencing is a crucial process that involves determining the amino acid sequence within DNA-encoded proteins, enabling the understanding of protein functions, activities, origins, and localizations. This method is essential for revealing amino acid distribution and protein structure. Advancements in clinical mass spectrometry and analytical techniques, coupled with the widespread adoption of target-based drug development in the pharmaceutical and biotechnology sectors, are contributing to the growing demand for protein sequencing. For example, in 2021, the number of protein sequences in UniProtKB, a publicly accessible protein sequence and functional information database, reached approximately 190 million.

The bioinformatics market is set to witness substantial growth, driven by the expanding pharmaceutical industry. The pharmaceutical sector, responsible for drug discovery, development, and production, both in public and private domains, relies heavily on bioinformatics. It enhances the drug development process, reduces costs, and elevates the efficacy and safety of drug therapies. In 2021, reports from IQVIA Inc., a US-based pharmaceutical company, estimated that total pharmaceutical expenditure in the US would reach between $380 and $400 billion by 2025, up from $359 billion in 2020. This projection reflects a compound annual growth rate of 0-3%. Thus, the flourishing pharmaceutical industry acts as a growth catalyst for the bioinformatics market.

A notable constraint on the bioinformatics market is the lack of interoperability among various data formats. The diverse data formats come with structural disparities, and numerous protein databases employ different representations for proteins. Additionally, varied data models, such as object data models or relational data models, contribute to inconsistent data formatting. The issue of interoperability arises when researchers attempt to integrate data from multiple databases presented in distinct formats. Various data formats, including Compressed Row Storage (CRS), Sparse Vector, Avro, Parquet, and ORC (Optimized Row Compressed), create challenges. As reported by Pharmaphorum, approximately 80% of researchers' time is consumed by data grooming, leaving only 20% for actual data analysis. This imbalance results from non-standardized file types and inconsistent data formatting, with each new program generating a unique data format. Interoperability problems stemming from the use of various data formats are affecting the growth of the bioinformatics market.

Businesses in the bioinformatics market are significantly boosting their investments in the research and development of nanopore sequencing technology. This innovative technology, known as nanopore sequencing, stands out as a single-molecule DNA sequencing method that eliminates the need for Polymerase Chain Reaction or chemical sample labeling. It operates by passing ionic current through minuscule nanopores, where it measures current changes caused by biological molecules traversing or approaching these nanopores. This data collection approach is pivotal for bioinformatics, offering advantages like high throughput, cost-effectiveness, and the provision of longer reads for analysts. In 2021, Oxford Nanopore Technologies successfully raised $705.56 million in an IPO, which aimed to support the scaling of commercial and manufacturing operations and the continued advancement of nanopore technology.

Major companies within the bioinformatics market are focusing on the expansion of bioinformatics platforms to effectively manage vast biotech data, facilitating accelerated scientific discovery. These comprehensive platforms are software solutions that encompass a complete suite of tools and services tailored for biological data management and analysis. For instance, in June 2022, LatchBio, a US-based biotechnology research startup, unveiled an all-encompassing bioinformatics platform tailored to handle large-scale biotech data, promoting quicker scientific breakthroughs. This platform simplifies collaborative data analysis and visualization for a broad spectrum of professionals, including biologists, bioinformaticians, and computational biologists.

In May 2022, ZS Associates, a US-based management consulting and technology firm, executed the acquisition of Intomics A/S for an undisclosed sum. This strategic acquisition aims to reinforce ZS Associates' commitment to drug discovery, enhancing drug development success rates and diversifying its service offerings. Intomics A/S, headquartered in Denmark, specializes in bioinformatics and systems biology, aligning seamlessly with the broader goals of ZS Associates.

Major companies operating in the bioinformatics market include Agilent Technologies Inc., Illumina Inc., QIAGEN NV, Affymetrix Inc., Thermo Fisher Scientific Inc., BGI Group, Dassault Systems SE, Eurofins Scientific SE, Bruker Corporation, Biomax Informatix AG, DNASTAR Inc., Partek Inc., Geneva Bioinformatics SA, Perkinelmer Inc., Accelrys Inc., Nonlinear Dynamics SA, Quest Diagnostics Inc., Sophia Genetics SA, Waters Corporation, Permin Elmer Inc., Celera Corporation, Tripos Inc., Helicos Biosciences Incorporation, IBM Life Sciences, Applied Biologicals Materials Inc., Life Technologies Corporation, GNS Healthcare Inc., DNAnexus Inc., Intrexon Bioinformatics Germany GmbH, Syapse Inc.

North America was the largest region in the bioinformatics market in 2023. Western Europe was the second largest region in the bioinformatics market analysis. The regions covered in the bioinformatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the bioinformatics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The bioinformatics market includes revenues earned by entities by providing solutions which combine computer programming, information engineering, mathematics, and statistics to analyze biological data for drug discovery and preclinical studies. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.