The Global Bioinformatics Services Market is forecast to reach USD 6.44 Billion by 2028, according to a new report by Reports and Data.
The Global Bioinformatics Services Market is forecast to reach USD 6.44 Billion by 2028, according to a new report by Reports and Data. Increasing R&D in drugs activity and molecular biology, growing initiatives by the private and public organizations, increase in applications of bioinformatics, increase in requirement for integrated bioinformatics structure and increase in clinical diagnostic and personalized medicine is driving the demand for the market.
Development in IT has made biotechnology increasingly reliable on computationally intensive approaches. The innovation of novel technologies in the bioinformatics services sector and easy acceptance of bioinformatics services tools provide more data analysis for efficient research projects, drug development, and drug discovery processes. Increase in demand for advanced analytical services and increased private and public funding for research is augmenting the growth of global bioinformatics service market.
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Factors such as lack of skilled professionals who can properly utilize the resources of bioinformatics tools along with lack of data integration are expected to impede the progress of the industry. Manufacturers and providers of this market are expected to face challenges pertaining to the high volume of statistics management and industry consolidation.
However, lack of skilled professionals to carry out the processes, high cost of sequencing and unavailability of funds in several countries for R&D activities are key restraints expected to hamper global market growth in the coming years.
Companies considered and profiled in this market study
Qiagen Inc., IBM Life Sciences, Illumina Inc., GVK Biosciences, Nxt-Dx, Biovia (Accelrys Inc), Non Linear Dynamics, Biomax Informatics AG., DNAnexus Inc., Affymretrix Inc., Geneva bioinformatics, Bruker Daltonics, and Life Technologies Corporation.
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Key highlights in the report:
- Based on end-use segment, the medical segment is expected to register highest CAGR owing to high demand for bioinformatics services in various drug discovery and drug development processes.
- Among the application segments, the transcriptomics segment is expected to account for significant revenue growth throughout the forecast period owing to increasing research projects in transcriptomics.
- The academic segment is expected to register fastest revenue growth during the forecast period due to high adoption of bioinformatics services and techniques in genomics and proteomics for research purposes in universities and research institutes and availability of considerable funds for research and development purposes.
- North America is projected to account for largest revenue share in the global bioinformatics services market between 2021 and 2028. Increasing investments in research and development activities, well-defined frameworks, and growing adoption of personalized medicine are some key factors boosting growth of the bioinformatics services in this region.
- The bioinformatics services market in Europe is expected to account for significant revenue growth over the forecast period. High revenue growth is attributed to factors such as increasing research on genomics and proteomics, increasing government support from genomic research, presence of key market payers.
- Asia Pacific is expected to register fastest revenue CAGR over the forecast period owing to improving healthcare infrastructures and healthcare facilities, increasing investments in research and development activities, ongoing research on genomics and proteomics, and rising prevalence of infectious diseases.
For this study, Reports and Data has segmented the global assisted bioinformatics services market based on services, application, end-use, and region:
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Service Type Outlook (Revenue, USD Billion, 2020 - 2028)
- Sequencing Services
- Data Analysis Services
- Drug Discovery Services
- Differential Gene Expression Analysis
- Database Management Services
- Others
Application Outlook ((Revenue, USD Billion, 2020 - 2028)
- Genomics
- Transcriptomics
- Metabolomics
- Drug Discovery
End Use Outlook (Revenue, USD Billion, 2020 - 2028)
- Agriculture
- Medical
- Animal
- Academic Users
Regional Outlook (Revenue, USD Billion, 2020 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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