Bioinformatics Services Market Revenue, Growth, Current Trends, Future Growth Study and Strategic Assessment

Posted by Johnny on April 4th, 2023

The bioinformatics services market is projected to reach USD 5.3 Billion by 2026 from USD 2.5 Billion in 2021, at a CAGR of 15.8% during the forecast period. Growing applications of bioinformatics across industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals (leading to increased outsourcing of bioinformatics projects) are the major factors that are expected to drive the growth of the bioinformatics services market during the forecast period.

Bioinformatics services are becoming increasingly important in the healthcare industry. The bioinformatics services market is expected to experience significant growth over the forecast period, due to the rising demand for personalized medicine, and the increasing need for cost-effective solutions for drug development, clinical trial analysis, and genomics studies.

The global bioinformatics services market is expected to be driven by a number of factors, including the increasing prevalence of diseases such as cancer and cardiovascular diseases, the need for cost-effective solutions for drug development and clinical trial analysis, and the growing importance of personalized medicine. Additionally, the growth in demand for cloud-based solutions and the increasing availability of bioinformatics tools are also expected to boost the bioinformatics services market.

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Top Lading Players: Illumina (US), Thermo Fisher Scientific (US), Eurofins Scientific (Luxembourg), BGI Group (China), NeoGenomics (US), PerkinElmer (US), CD Genomics (US), Psomagen, Inc. (South Korea), QIAGEN (Germany), GENEWIZ (US), Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios Genomics (UK), and BaseClear (Netherlands)

Some Key Highlights from the Report:

1. global market is projected to reach USD 5.3 Billion by 2026 from USD 2.5 Billion in 2021, at a CAGR of 15.8% during the forecast period.

2. Growing need to store, retrieve, and analyze the massive amount of data generated from next-generation sequencing (NGS) technologies, and the increasing need to analyze clinical data generated from electronic health records (EHRs) are the key drivers of the market.

3. The healthcare segment is estimated to witness the highest growth in terms of revenue due to the increasing demand for personalized medicine, the growing demand for NGS-based diagnostics, and the increasing number of clinical trials.

4. The North American region is expected to hold the largest market share in this market due to the presence of well-developed healthcare infrastructure, the presence of a large number of healthcare and IT companies, and the increasing awareness about the benefits of personalized medicine.

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Global Bioinformatics Services Market, by Application

  • Genomics
  • Chemoinformatics & Drug Design
  • Proteomics
  • Transcriptomics
  • Metabolomics
  • Other Applications

Global Bioinformatics Services Market, by Specialty

  • Medical Biotechnology
  • Animal Biotechnology
  • Plant Biotechnology
  • Environmental Biotechnology
  • Forensic Biotechnology

Global Bioinformatics Services Market, by Type

  • Sequencing Services
  • Data Analysis
  • Drug Discovery Services
  • Differential Gene Expression Analysis
  • Database and Management Services
  • Other Bioinformatics Services

Global Bioinformatics Services Market, by End User

  • Academic Institutes & Research Centers
  • Hospitals & Clinics
  • Pharmaceutical & Biotechnology Companies
  • CROs
  • Other End Users

Regional Outlook:

  •          North America (U.S.A., Canada, Mexico)
  •          Europe (Italy, U.K., Germany, France, Rest of Europe)
  •          Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  •          Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  •          Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  1.        What are the dominating factors that are influencing the growth of the industry?
  2.        In the forecast period, which market segment is expected to rise the most?
  3.        What are the risks and challenges that the industry is facing?
  4.        In the coming years, which area is projected to dominate the market?
  5.        Who are the major players in the market?
  6.        What kind of strategic business plans have they made?

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