Bioinformatics Market Size, Growth, Demand, Opportunities & Forecast To 2030

Latest Study on “Bioinformatics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Bioinformatics market size is expected to be worth around USD 45.9 billion by 2030, according to a new report by Nova one advisor.

The global Bioinformatics market size was valued at USD 24.7 billion in 2021 and is anticipated to grow at a CAGR of 16.9% during forecast period 2022 to 2030. Rise in demand for nucleic acid & protein sequencing, increase in initiatives by private & government organizations, growth of proteomics & genomics, and surge in research on molecular biology & drug discovery

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Bioinformatics is an important tool for managing the large data generated during the drug discovery process, starting from pre-clinical trials to target identification and screening. Bioinformatics data management stores the data at one place, thereby enabling effective analysis of information whenever required. This helps in increasing R&D productivity of a company by recognizing drug targets.

Bioinformatics technologies can save time and money, as it combines data into different interactive models to highlight disease pathway and aid drug discovery. Drug development can take years to complete and the cost associated could exceed millions of dollars. Use of bioinformatics can cut down the cost by 35% to 40%. It can also help the companies to overcome the challenges of storing the valuable and extensive processing data.

Report Scope of the Bioinformatics Market

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COVID-19 Impact on the Bioinformatics Market

Bioinformatics has always had huge potential when it comes to providing essential support to many areas of scientific research. The COVID-19 pandemic was a real-life test for bioinformatics. One of the major focus areas for every country during the COVID-19 pandemic has been to study and understand how to halt the progress of the virus. Next-generation sequencing is the fundamental method for investigating SARS-CoV-2 genomes, which offers basic information about the virus. Bioinformatics pipelines and biological & host-virus interaction databases are the critical tools for calculating such data and furthering comprehension of SARS-CoV-2. Thus, various studies are being undertaken to understand the genetic combination of the virus; these studies are driven by bioinformatics. In this context, the outsourcing of bioinformatics has increased during the pandemic. Due to the evolved and upgraded bioinformatics capabilities of service providers, scientists have been able to uncover numerous secrets of SARS-CoV-2, ranging from its identification to its origin (including its functioning and spread), in a short time span.

Drivers: Increasing public-private sector funding for bioinformatics

Many government bodies and private organizations across the globe are increasingly investing in the field of bioinformatics. These investments have largely resulted in data and technological advancements in bioinformatics services, which, in turn, have improved the quality of these services. For instance, in 2016, the European Molecular Biology Laboratory (EMBL), an intergovernmental organization and pioneer in bioinformatics research, received funds from the Biotechnology and Biological Sciences Research Council, British Heart Foundation, Cancer Research UK, the European Commission, European Molecular Biology Organization, the European Research Council, the Foundation of the National Institutes of Health, 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, Parkinson’s UK, Research Councils UK, and Wellcome, for R&D in the field of bioinformatics.

Also, many countries are investing in their national population sequencing programs to understand the link between genetics and diseases. Government organizations are sequencing the genomes of millions of citizens to advance research and help develop better ways to diagnose and treat cancer, rare diseases, and other conditions. These large sequencing projects are expected to drive the requirement of bioinformatics products and services.

Restraints: High Equipment Costs

With the advent of advanced NGS technologies, there is an increasing need for quick and accurate bioinformatics tools that can be easily operated. Most of the scientists involved in experimental research are not bioinformaticians. Therefore, the availability of user-friendly tools is vital for the use of bioinformatics platforms. Many bioinformatics tools require advanced computer expertise, mainly because they lack a suitable user-friendly interface.

Genomics instruments are also equipped with advanced features and functionalities and are thus priced at a premium, ranging between ~USD 10–20 million. As pharmaceutical companies and research laboratories require many such systems, their capital expenditure on procuring multiple genomic instruments is very high. In the case of small and medium-sized pharmaceutical companies and research laboratories, it is not feasible for them to make such high investments in multiple genomics instruments

Opportunities: Lucrative opportunities in emerging markets

Emerging markets, such as India, China, Brazil, Russia, Taiwan, and South Korea, offer high growth opportunities for the major players offering bioinformatics products and services.

The growing prominence of these emerging economies in terms of R&D and investments from global players is expected to provide a favorable outlook—as well as opportunities—for the growth of genomics, metabolomics (including chromatography, mass spectrometry, and NMR instruments), precision medicine, drug discovery, and other markets in the coming years. In addition, regulatory policies in the Asia Pacific are more adaptive and business-friendly due to fewer stringent regulations and data requirements. The increasing competition in mature markets will further compel manufacturers to focus on emerging markets.

Challenges: Patient data confidentiality concerns

The rapid advancements in next-generation sequencing (NGS) technologies have generated a large volume of biological data, and the growth of this data volume is increasing with the growing adoption of NGS. Data analysis is necessary, as a lot of information is still unexplored in genome analysis. Hence, data that remains after bioinformatics analysis carries huge importance and can be reused. The current solutions do not adequately solve the challenges of data management in bioinformatics.

North America holds the largest share in this market

North America dominated the bioinformatics market, with a share of 46.9% in 2021, followed by Europe and Asia Pacific. The large share of North America in the global bioinformatics market can be attributed to factors such as government support for genomic research, presence of leading bioinformatics providers, decreased cost of sequencing, increased awareness of bioinformatics services, and increased number of genomic research activities (and the corresponding adoption of bioinformatics) in the region are driving the growth of the bioinformatics market in North America. North America has a favorable funding scenario for research activities. This regional market is characterized by increased government initiatives for the reimbursement of genomic testing and favorable funding scenario for research activities involving the use of bioinformatics technologies.

Some of the prominent players in the Bioinformatics Market include:

• Thermo Fisher Scientific Inc.
• Eurofins Scientific
• QIAGEN N.V. 
• Agilent Technologies Inc.
• Illumina Inc.
• Waters Corporation
• NeoGenomics Laboratories
• Perkin Elmer Inc.
• Fios Genomics
• Source BioScience

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Bioinformatics market

By Product

• Bioinformatics Platforms
  • Sequence Analysis Platform
  • Sequence Alignment Platform
  • Sequence Manipulation Platform
  • Structural and Functional Analysis Platform
  • Other
• Bioinformatics Services
  • Sequencing Services
  • Database and Management Services
  • Data Analysis
  • Other
• Knowledge Management Tools
  • Generalized Knowledge Management Tools
  • Specialized Knowledge Management Tools
• Biocontent

By Application

• Genomics
• Molecular Phylogenetics
• Metabolomics
• Proteomics
• Transcriptions
• Chemoinformatics and Drug Designing
• Others

By Sector

• Medical Biotechnology
• Animal Biotechnology
• Plant Biotechnology
• Environmental Biotechnology
• Forensic Biotechnology
• Other Sectors

 Some of the prominent players in the Bioinformatics market include:

By Region

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

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Bioinformatics industry analysis from 2022 to 2030 to identify the prevailing Bioinformatics industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Bioinformatics industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Bioinformatics industry trends, key players, market segments, application areas, and market growth strategies.

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