Bioinformatics Services Market Size
What industry-specific factors are fueling the growth of the bioinformatics services market?
The growth of the bioinformatics services market is anticipated to be fueled by the heightened utilization of information technology in the healthcare sector. This technology has aided medical professionals in enhancing the standard of patient care, elevating patient safety, streamlining efficiency, reducing expenses, and facilitating communication among healthcare experts. The core of bioinformatics services which utilize statistics and computer science to analyze biological data is deeply rooted in information technology. For instance, statistics released by the US-based government agency, the National Center for Health Statistics, in December 2022 showed that 58.5% of US adults sought health or medical information via the internet, 41.5% used it to engage with physicians or a doctor’s office, and 46.1% used it to check medical test outcomes. Accordingly, the escalating application of information technology within the healthcare industry is pushing the expansion of the bioinformatics services market in the future.
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What Is the projected market size and growth rate for the bioinformatics services market?
The market size for bioinformatics services has seen a significant upturn in recent years. The sector is predicted to expand from a worth of $4.15 billion in 2024 to $4.78 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 15.2%. Factors contributing to its growth during the historic period include advancements in genomic research, the emergence of personalized medicine, investments in pharmaceutical R&D, the surge in biological data, government-led initiatives in healthcare, and the escalating adoption of next-generation sequencing (NGSs).
The market size of bioinformatics services is projected to experience a substantial expansion in the coming years, reaching $9.38 billion in 2029 with a compound annual growth rate of 18.4%. This projected growth in the forecast period can be linked to its wider application in clinical diagnostics, heightened relevance in agriculture and environmental studies, escalating partnership in research, and an upward trend in drug repurposing demand. Key trends anticipated during the forecast period are the introduction of digital health initiatives, advancements in sequencing technology, the incorporation of artificial intelligence and machine learning, the adoption of cloud-based solutions, individualized medicine and genomic analysis, and the integration of blockchain to ensure data security.
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What new trends are reshaping the bioinformatics services market and its opportunities?
One principal trend growing in influence in the bioinformatics services market is the advent of technological improvements. Firms in this market are leveraging emerging technologies to maintain their market standing. For instance, in July 2022, bitBiome Inc., a microbiome analysis entity based in Japan, rolled out the Enzyme Discovery service. It is established on the world’s most extensive microbial genome database (MMGDB) along with unique bioinformatics technologies. To forge the MMGDB, bitBiome uses its core technology, known as bit-MAP, this is a microbial single-cell genome analysis approach, to examine the human microbiome and also the environmental bacteria situated in areas like soil, oceans, and hot springs. Utilizing its innovative bioinformatics and 3D structural modeling technologies, BitBiome offers enzyme discovery services like identifying optimal sequences from the MMGDB.
What major market segments define the scope and growth of the bioinformatics services market?
The bioinformatics services market covered in this report is segmented –
1) By Service: Sequencing Services, Data Analysis, Drug Discovery Services, Differential Gene Expression Analysis, Database And Management Services, Other Services
2) By Specialty: Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology
3) By Application: Genomics, Chemoinformatics And Drug Design, Proteomics, Transcriptomics, Metabolomics, Other Applications
4) By End User: Academic Institute And Research Centers, Hospital And Clinics, Pharmaceutical And Biotechnology Companies, CROs, Other End Users
Subsegments:
1) By Sequencing Services: Whole Genome Sequencing, Exome Sequencing, Targeted Sequencing
2) By Data Analysis: Genomic Data Analysis, Transcriptomic Data Analysis, Proteomic Data Analysis
3) By Drug Discovery Services: Target Identification, Lead Optimization, Preclinical Development
4) By Differential Gene Expression Analysis: RNA-Seq Analysis, Microarray Analysis
5) By Database And Management Services: Data Storage Solutions, Data Integration Services
6) By Other Services: Consulting Services, Custom Software Development
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Which region dominates the bioinformatics services market?
North America was the largest region in the bioinformatics services market in 2024.Europe is expected to be the fastest-growing region in the global bioinformatics services market report during the forecast period. The regions covered in the bioinformatics services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the bioinformatics services industry growth?
Major companies operating in the bioinformatics services market include QIAGEN Digital Insights, Thermo Fisher Scientific Inc., Illumina Inc., DNAnexus Inc., PerkinElmer Inc., Biomax Informatics AG, Life Technologies Corporation, BGI Group, Eurofins Scientific SE, NeoGenomics Laboratories Inc., CD Genomics Inc., MedGenome Labs Pvt. Ltd., Fios Genomics Ltd., Geneva Bioinformatics SA, GVK Biosciences Private Limited, Accelrys Inc., Macrogen Inc., GENEWIZ Inc., Source BioScience Limited, Microsynth AG, BaseClear B.V., DNASTAR Inc., GATC Biotech AG, Partek Incorporated, Seven Bridges Genomics Inc., Omixon Inc., BioTeam Inc., BioBam Bioinformatics S.L., Biomatters Limited, Genomatix GmbH, DNASTREAM Limited, Genalice B.V., Golden Helix Inc., Strand Life Sciences Private Limited
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What Is Covered In The Bioinformatics Services Global Market Report?
• Market Size Forecast: Examine the bioinformatics services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the bioinformatics services market for a structured understanding.
• Key Players Overview: Analyze major players in the bioinformatics services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the bioinformatics services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the bioinformatics services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the bioinformatics services market.
• Industry Challenges: Identify potential risks and obstacles affecting the bioinformatics services market.
• Competitive Landscape: Review strategic developments in the bioinformatics services market, including expansions, agreements, and new product launches.
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