Bioinformatics Services Market is expected to grow from USD 2.8 billion in 2022 to USD 8.7 billion by 2030 : GreyViews
Bioinformatics Services Market Size By Type (Differential Gene Expressing Analysis, Sequencing Services, Drug Discovery Services, and Others), By Application (Metabolonimcs, Transcriptomics, Genomics, Proteomics, Chemoinformatics & Drug Design and Others), By End-User, Regions, Segmentation, and forecast till 2030.
Pune India, Jan. 28, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the bioinformatics services market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the bioinformatics services market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, end-user and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global bioinformatics services market are Illumina, BGI, PerkinElmer, Thermo Fisher Scientific, NeoGenomics, Eurofins Scientific, CD Genomics, Macrogen, QIAGEN, and GENEWIZ, Microsynth, Source BioScience, Fios Genomics, MedGenome, BaseClear, among others. To achieve a substantial market share in the worldwide bioinformatics services market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The services, storage, and standardisation of data obtained from cutting-edge work in biotechnology, the life sciences, and biopharmaceutical businesses are handled by bioinformatics. The past ten years have seen significant growth in the global bioinformatics services market as a result of factors including innovation growth, increased use of data innovation in healthcare, and rising demand for information management tools in the life sciences and biotechnology research sectors. Expanding innovative work exercises in the fields of biotechnology, medication disclosure, and biopharmaceuticals are the main factors influencing the development of this industry. Additionally, an increase in government initiatives also aids in the growth of the global market for bioinformatics services. The demand for bioinformatics services is rising across a variety of industries, including healthcare, forensics, pharmaceuticals, genomic research, and biosimilars. The bioinformatics services market is expanding because of the burgeoning bio-IT industry and its pull on the pharmaceutical industry. Additionally, rising financing for research, expanding use of bioinformatics in research facilities and labs, and increasing reliance of pharmaceutical corporations on the technology as well as high capital expenditures are all contributing to the market's expansion.
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Scope of Bioinformatics Services Market Report
Market Share Unit
Type, Application, End-User, and Regions
North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Illumina, BGI, PerkinElmer, Thermo Fisher Scientific, NeoGenomics, Eurofins Scientific, CD Genomics, Macrogen, QIAGEN, and GENEWIZ, Microsynth, Source BioScience, Fios Genomics, MedGenome, BaseClear, among other
The sequencing services segment is expected to be the fastest-growing segment in 2022.
The type segment includes differential gene expressing analysis, sequencing services, drug discovery services, and others. The sequencing services segment is expected to witness the highest growth rate during the forecast period. The next-generation sequencing services sector is anticipated to account for the largest share of the bioinformatics services market due to increased funding from both public and private entities for next-generation sequencing-based ventures, mechanical advancements in next-generation sequencing coupled with declining sequencing costs, and the need for high-throughput investigation of a lot of information created during sequencing.
The transcriptomics segment is expected to be the fastest-growing segment in 2022.
The application segment includes metabolonimcs, transcriptomics, genomics, proteomics, chemoinformatics & drug design and others. The transcriptomics segment is expected to witness the highest growth rate during the forecast period. Executive offices' increasing demand for more usable information and the increased volume of exploratory readings for the use of transcriptomics in the treatment of disease are credited with driving the essential growth of the field.
Academic institutes & research centres segment is expected to be the fastest-growing segment in 2022.
The end-user segment includes hospitals & clinics, pharmaceutical & biotechnology companies, academic institutes & research centres and others. The academic institutes & research centres segment is expected to witness the highest growth rate during the forecast period. The Academic Institutes & Research Centers segment is expected to grow rapidly due to the increasing number of bioinformatics-based explorations contemplates an increasing number of joint efforts between academic research institutes and major players in the Bioinformatics Services Market, and a growing number of government financing programs for genomics research.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the bioinformatics services include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. There are significant expenditures being made to support the database construction and management of biological data in the United States due to the vast volume of genomic and proteomic data being created there. Furthermore, as American customers are paying more for newer pharmaceuticals, significant investments are being made in both public and private research for gene therapy and drug development. Research organisations are constantly involved in the search for novel therapeutics due to consumers' fluctuating tastes for new medications. The ATCC announced an agreement with Qiagen in April 2022 to share sequencing information from their stock of biological samples, including animal and human cell lines.
Germany's bioinformatics services market size was valued at USD 0.21 billion in 2022 and is expected to reach USD 2.66 billion by 2030, at a CAGR of 15.4% from 2023 to 2030.
Because of the area's vibrant bioinformatics specialist cooperatives, lowering sequencing prices, expansion of genomics research initiatives, high frequency of target diseases (such as cancer and genetic diseases), and favourable financial conditions for bioinformatics-based research.
China’s bioinformatics services market size was valued at USD 0.22 billion in 2022 and is expected to reach USD 2.70 billion by 2030, at a CAGR of 15.7% from 2023 to 2030.
The well defined regulatory framework is responsible for the increased participation of industry participants, which ultimately leads to the development of industrial income. The simultaneous expansion of next-generation sequencing and chemical laboratories in the area, which ultimately boosts income generation, is the major factor explaining the high penetration of informatics services based on drug discovery.
India's bioinformatics services market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 2.51 billion by 2030, at a CAGR of 15.6% from 2023 to 2030.
Market progress in the area is projected to be supported by the numerous advantages of bioinformatics. Large-scale data storage, simple access, and straightforward and accurate biological data verification are only a few advantages of bioinformatics. Bioinformatics also helps with rapid sequence search through the use of an algorithm. In the field of biotechnology, bioinformatics is also used for blue, green, red, white, and bioeconomic biotechnology, among other things. It is cost-effective and includes pharmacogenomics, gene therapy, and the production of pharmaceuticals.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the bioinformatics services market is mainly driven by the rise in applications.
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