Bioinformatics Market

The global bioinformatics market size was around USD 10.9 billion in 2021 and is estimated to reach USD 21.9 billion by 2030, expanding at a CAGR of 15.4% during the forecast period, 2022–2030. The market growth is attributed to the increasing research on drug discovery and molecular biology.

Bioinformatics is defined as the application of computer technology and analysis of the gathered biological data. It combines information technology and biology. Bioinformatics links biological data with techniques for analysis, information storage, and dissemination to support multiple areas of scientific research including biomedicine.

Get Free Sample Report

It uses computer programs to determine gene & protein functions, project the three-dimensional shapes of proteins, and establish evolutionary relationships. It uses software tools for data management, data warehousing, database creation, data mining, and others. The software tools are further categorized into homology & similarity tools, sequence analysis tools, protein functional & analysis tools, and miscellaneous tools. In recent years, genetics has been the core focus of bioinformatics including DNA microarrays, medical information, structural genomics, functional genomics, and comparative genomics.  

Bioinformatics is required for the management of data in medicine and modern biology. Scientists use databases to organize biological information to increase the understanding of disease and health, in some cases as a part of medical care. In the field of bioinformatics, researchers analyze information related to gene variants or mutations.

It is used in personalized medicine to analyze patient response to a particular drug.   Researchers identify susceptibility genes and illuminate the pathogenic pathways involved in illness with the help of bioinformatics. Bioinformatics has applications in clinical research and life science research.

COVID-19 Impact on Bioinformatics Market 

The market research report finds that the COVID-19 pandemic has affected the global bioinformatics market. Bioinformatics tools can handle a large volume of biological data. Bioinformatics offers important support to many areas of scientific research. Bioinformatics has acute relevance in the present time. Bioinformatic tools allow researchers to store a large set of data and analyze it to discover decisive information that is expected to lead to key discoveries. Every country’s government was trying to break the progress of the virus by implementing social distancing and isolation recommendations for infected people. Next-generation sequencing is the essential method for examining SARS-CoV-2 genomes, which provides basic knowledge about the virus. Scientists use biological & host-virus interaction and bioinformatics pipeline databases tools for calculating the massive amount of data and improving understanding of SARS-CoV-2. As a result, several research is being carried out to comprehend the genetic makeup of the virus; bioinformatics is the driving force behind these studies.

In a short amount of time, scientists have been able to unravel many of the mysteries surrounding SARS-CoV-2, from its identification to its genesis (including its functioning and propagation). This has been made possible by the evolved and enhanced bioinformatics capabilities of service providers. In this context, the pandemic has boosted the outsourcing of bioinformatics.

Moreover, the COVID-19 pandemic served as a bioinformatics test in the real world. Data related to transmission chains is crucial for containment measures and public health control, though knowledge of virus variability guides the cost-friendly diagnostic methods and development of a vaccine. For instance, Illumina donated cloud-based bioinformatics and sequencing consumables to Canadian COVID-19 projects. The donations are anticipated to support the VirusSeq and HostSeq projects of Canada’s COVID-19 CanCoGen or Genomics Network. 

Bioinformatics Market Dynamics

The research report presents a complete market overview by providing a detailed analysis of the current market trends, existing drivers, growth opportunities, and emerging challenges. The global bioinformatics market report offers up-to-date information about factors that can shape the market outcome or overall performance during the forecast period, 2022 to 2030.

Get Free Sample Report

Major Drivers:

Rising initiatives from private organizations and governments

The rising initiatives from private organizations and governments are projected to boost market growth. Private organizations and governments are funding bioinformatics institutes. These funding and investments have improved the quality of these services. Government bodies are sequencing the genomes of citizens to advance research.

Many countries are investing in their national population sequencing programs to know more about the link between disease and genetics. These help to diagnose rare diseases, and treat cancer, and other conditions. Moreover, it results in data and technological advancements in bioinformatics services. For instance, the European Molecular Biology Laboratory is a prominent company in bioinformatics research and an intergovernmental organization, which received funds from several organizations including British Heart Foundation, Biotechnology and Biological Sciences Research Council, Bill & Melinda Gates Foundation, the Human Frontier Science Program, Innovate UK, International Policy Governance Organization, the Medical Research Council, the National Institutes of Health, National Science Foundation, Cancer Research UK, the European Commission, European Molecular Biology Organization, the European Research Council, the Foundation of the National Institutes of Health,  Parkinson’s UK, Research Councils UK, and Wellcome for research and development in the field of bioinformatics.  

Accelerating the growth of genomics and proteomics

Bioinformatics aids in management and data interpretation for medical purposes and future research. A huge amount of data was created through techniques such as nucleic acid and protein sequencing.

Moreover, proteomics offers insights into the vibrancy of cells and their preparedness to react. Also, it is used to investigate when and where proteins are expressed, and rates of protein production and degradation. Genomics helps researchers to study genetic variability in human populations. Genomics track antibiotic resistance, diagnose sepsis and helps to identify previously undiscovered antimicrobial compounds which help to prevent a bacterial disease. Thus, accelerating the growth of genomics and proteomics is anticipated to drive market growth during the forecast period.

Increasing demand for nucleic acid and protein sequencing

The increasing demand for nucleic acid and protein sequencing is expected to propel market expansion. Nucleic acid sequencing is an effective method to indirectly sequence RNA. Also, it is used to determine the sequence of individual genes or entire genomes of organisms. Protein sequencing helps to characterize its post-translational modifications or to identify the protein. Sequencing offers information on genetic variants which leads to disease or disease development. It is important to identify the function and structure of proteins to gain knowledge about cellular processes.

Current Restraints:

Lack of user-friendly tools and high cost of equipment

Bioinformatics tools are software programs. It is used to extract information from biological databases to carry out structural analysis. Good usability of tools improves performance and boosts the revenue of the market. However, the lack of user-friendly tools is expected to hamper the market growth during the forecast period.

Bioinformatics tools need advanced computer expertise, as these tools lack a user-friendly interface. There is a rising need for fast and precise bioinformatics tools which can be easily operated with the advent of advanced technologies. Moreover, the high cost of equipment is anticipated to hinder market expansion in the coming years. Many pharmaceutical companies and research laboratories need advanced systems, ranging from USD 10-20 million. It is not possible for companies to make high investments in multiple genomics instruments, especially for small and medium-sized research laboratories and pharmaceutical companies.

Lack of common data formats and well-defined standards for integration of data

The lack of common data formats and well-defined standards for the integration of data is projected to hinder market expansion in the coming years. Moreover, patient data confidentiality and complexity are anticipated to hinder market expansion. The field of bioinformatics faced many challenges such as dealing with multiple formatting types and searching for and making use of publicly-available data.

Furthermore, the information gathered from the hospitals about the disease, patients, and particular treatment is considered confidential and sensitive. Patient information includes clinical, registration, demographic, and financial information. Hospital policies and procedures, and federal and state statutes protect the internal use and external disclosure of patient information.

Market Opportunities:

Development of advanced products & technological advancements

Product development is expected to create lucrative opportunities for market players during the forecast period. Product development helps to grow market size in the past years. Companies working in this field are trying to get advanced products in the market. The regulatory agency allows product development and technological advancements in the market.

For instance, Agilent Technologies, Inc. released a new exome design called Sure Select Human All Exon V8 that offers specific content and current coverage of protein-coding areas from Refuses, CCDS, and GENCODE. Moreover, it includes exons that are stimulating to capture, and the TERT promoter, which is ignored by competing exomes. 

Scope of Bioinformatics Market Report

The global bioinformatics market research report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Bioinformatics Market Segment Insights

Transcriptomics segment to expand at a considerable CAGR

On the basis of application, the global bioinformatics market is segmented into transcriptomics, proteomics, chemoinformatics & drug design, genomics, metabolomics, molecular phylogenetics, and others. The transcriptomics segment is projected to expand at a considerable CAGR during the forecast period, due to a rising preference for companion diagnostics and personalized medicines.

Furthermore, the continuous discovery of biomarkers, novel gene sequencing, and global acceptance of transcriptomics technology are anticipated to propel the market expansion. Transcriptomics is the study of the transcriptome. Transcriptome is the complete set of RNA transcripts. These transcriptomes are produced by the genome under optimum temperatures or conditions using high-throughput methods, including microarray analysis. Transcriptomes are used for the identification of pathways and genes that respond to abiotic and biotic environmental stresses. In a complex system, the nontargeted nature of transcriptomics permits the identification of novel transcriptional networks. 

The chemoinformatics & drug design segment is anticipated to account for a major market share during the forecast period. Chemoinformatics has applications in the area of drug lead identification and organizations for the intended purpose of making better decisions. Chemoinformatics is the method of transforming data into information and information into knowledge. Drug design does not rely on computer modeling techniques.

Get Free Sample Report

Bioinformatics platforms segment to hold a significant market share

Based on technology & service, the global market is divided into bioinformatics platforms, bioinformatics services, and knowledge management tools. The bioinformatics platforms segment is further segregated into sequence manipulation platforms, structural analysis platforms, sequence analysis platforms, sequence alignment platforms, and others.

The bioinformatics services segment is further categorized into database management, data analysis, sequencing services, and others. The knowledge management tools segment is further bifurcated into specialized knowledge management tools and generalized knowledge management tools.  The bioinformatics platforms segment is expected to hold a significant share of the market in the coming years, due to increasing platform applications and the demand for better tools in drug development. Life science firms generate a massive amount of datasets of patient information. Thus, these firms need bioinformatics platforms for the identification and modification of data structures.  

The knowledge management tools segment accounts for a significant market share. Knowledge management tools are used to gather and distribute both internal and external knowledge of the specific industry. These tools assist in the systematic review and exploration of scientific knowledge. Knowledge management tools improved organizational agility, increased the rate of innovation, sharing of specialist expertise, and quicker problem-solving. Knowledge management tools are included as features in knowledge management software while available individually. 

Medical bioinformatics segment to expand at a substantial CAGR

On the basis of sector, the global bioinformatics market is segregated into agriculture bioinformatics, academics, medical bioinformatics, animal bioinformatics, and others. The medical bioinformatics segment is anticipated to expand at a substantial CAGR during the forecast period. Medical bioinformatics has applications in personalized medicine.

Bioinformatics analyses data from genome sequencing. Bioinformatics is used to solve the biomedical problem. Bioinformatics helps healthcare and pharmaceutical companies, research institutions, and biotechnology firms to interpret biology-related data. Bioinformatics is use in the medical field to improve individual health, public health, healthcare, and biomedical research. Practitioners of informatics are generally called informaticians and they focus more on information than technology.

The agriculture bioinformatics segment is expected to hold a significant share of the market. Agriculture bioinformatics is used to protect plants against harmful stressors and improve plant quality for human consumption. Bioinformatics plays important role in expanding the current knowledge of various plant functions.

Moreover, bioinformatics helps to develop new diagnostic tools and technology to facilitate and analyze the research work on plant breeding or improvement. This technology is used to classify and study the genes of plants to develop a specific variety of plants. Agriculture bioinformatics further provides a solution for various food problems around the world and improves the sustainability and efficiency of livestock production and many plant varieties. 

North America to dominate the market

In terms of regions, the global bioinformatics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, owing to the rising adoption of advanced technology. The growing demand for better bioinformatics tools which are required in drug discovery is anticipated to drive market expansion in the region. The market growth is attributed to the presence of leading bioinformatics providers, increased awareness of bioinformatics services, government support for genomic research, decreased cost of sequencing, and increased number of genomic research activities in the region.

The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to advancements in the field of proteomics and genomics, which generates a massive amount of data, further which is to be managed and interpreted. Moreover, the region has a favorable funding scenario for research activities.  The rising government initiatives for the reimbursement of genomic testing and favorable funding scenario for research and development involving the use of bioinformatics are projected to propel the market growth in the region.

Get Free Sample Report

Segments

The global bioinformatics market has been segmented on the basis of

Application

• Transcriptomics
• Proteomics
• Chemoinformatics & Drug Design
• Genomics
• Metabolomics
• Molecular Phylogenetics
• Others

Technology & Service

• Bioinformatics Platforms
  • Sequence Manipulation Platforms
  • Structural Analysis Platforms
  • Sequence Analysis Platforms
  • Sequence Alignment Platforms
  • Others
• Bioinformatics Services
  • Database Management
  • Data Analysis
  • Sequencing Services
  • Others
• Knowledge Management Tools
  • Specialized Knowledge Management Tools
  • Generalized Knowledge Management Tools

Sector

• Agriculture Bioinformatics
• Academics
• Medical Bioinformatics
• Animal Bioinformatics
• Others

Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• GENEWIZ and BGI Group Waters Corporation
• DNASTAR
• NeoGenomics Laboratories
• Perkin Elmer, Inc.
• Fios Genomics
• Partek Incorporated
• SOPHiA Genetics
• Source BioScience
• Biomax Informatics AG
• Thermo Fisher Scientific, Inc.
• Eurofins Scientific
• QIAGEN N.V.
• Agilent Technologies, Inc.
• Illumina, Inc.
• Waters Corporation
• DNASTAR
• NeoGenomics Laboratories
• Perkin Elmer, Inc.

Competitive Landscape

Key players competing in the global bioinformatics market are GENEWIZ and BGI Group Waters Corporation; DNASTAR; NeoGenomics Laboratories; Perkin Elmer, Inc.; Fios Genomics; Partek Incorporated; SOPHiA Genetics; Source BioScience; Biomax Informatics AG; Thermo Fisher Scientific, Inc.; Eurofins Scientific; QIAGEN N.V.; Agilent Technologies, Inc.; Illumina, Inc.; Waters Corporation; DNASTAR; NeoGenomics Laboratories; and Perkin Elmer, Inc.

Some of the major companies are actively engaged in R&D programs adopted various organic growth strategies including product launches, mergers, partnerships, and collaborations to increase their market share and witness significant growth. For instance, in January 2022, Thermo Fisher finalized the acquisition of PeproTech on December 30, 2021, for a total cash purchase price of around USD 1.85 billion. PeproTech is a private company that provides bioscience reagents such as recombinant proteins, including growth factors and cytokines. Recombinant proteins aid in the manufacturing of gene and cell therapies. It also helps in broader cell culture applications, particularly for use in cellular research models. Furthermore, Bruker Corporation and TOFWERK AG announced a strategic partnership for ultra-sensitive, high-speed industrial, and applied analytical solutions, in coupling with a Bruker minority investment in TOFWERK. The partnership offers a basis for technology collaborations to improve instrument capabilities. Also, this partnership helps in the development of novel analytical applications where ultra-sensitivity and high-speed matter.

Pharmaceutical companies are shifting their attention from outsourcing software to developing in-house tools as many companies minimize drug discovery budgets. Many companies use in-house tools to customize the required application to increase workflow efficiency. For instance, LatchBio is a California-based research startup that launched an end-to-end bioinformatics platform to manage big biotech data to fast-track scientific discovery in June 2022. Moreover, in March 2022, Arup a company of consultants, designers, and experts working across 140 countries launched Rio. Rio is bioinformatics analytics and pipeline platform for improved next-generation sequencing test results.