Bioinformatics Services Market : Worldwide Investment Growing by 15.7% to Reach USD 3.53 Billion

Prominent players in bioinformatics services market included Eurofins Scientific (Luxembourg), BGI (China), NeoGenomics (US), PerkinElmer (US), CD Genomics (US), Macrogen (South Korea), QIAGEN (Germany), GENEWIZ (US), Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios Genomics (UK), and BaseClear (Netherlands), among others.

Report studies the bioinformatics services market based on type, specialty, application, end user, and region. The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It evaluates opportunities and challenges in market for stakeholders and provides details of the competitive landscape for market leaders.

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Bioinformatics services market expected to reach USD 3.53 Billion by 2023 from USD 1.70 Billion in 2018, at a CAGR of 15.7% during forecast period. Factors like increasing public-private sector funding for bioinformatics services, shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects, & growing applications of bioinformatics in various industries are expected to drive growth of global market.

Stakeholders covered in bioinformatics services market are Bioinformatics service providers, High-throughput sequencing service providers, Bioinformatics software services vendors and distributors, Research laboratories and academic institutes, Government & non-government laboratories, Venture capitalists and other funding organizations, Market research and consulting firms, Healthcare institutions (hospitals, surgical centers, and diagnostic clinics), Life Sciences data analysis companies, Pharmaceutical and biotechnology companies, Contract research organizations (CROs), Forensic laboratories, and Biopharmaceutical companies.

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Report covers the bioinformatics services market data across four major geographies, namely, North America, Europe, Asia Pacific, & Rest of the World (RoW). North America accounted for the largest share of global market in 2017, followed by Europe.

The bioinformatics services market is divided into sequencing services, data analysis services, drug discovery services, differential gene expression analysis, database management services, and other services The sequencing services segment is further classified into whole genome sequencing and de novo assembly, exome analysis, transcriptome analysis, metagenomic analysis, ChIP-Seq analysis, and other sequencing analysis, whereas data analysis services segment is classified into data mining, genomic analysis, proteomic analysis, and variant annotation and discovery.

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Report covers bioinformatics services market data across four major geographies, namely, North America, Europe, Asia Pacific, & Rest of the World (RoW). North America accounted for the largest share of the global market in 2017, followed by Europe. The large share of the North American region is mainly attributed to the presence of leading bioinformatics service providers in the region, decreasing cost of sequencing, increasing number of genomic research activities in the region, high incidence of target diseases (such as cancer and genetic diseases), and favorable funding scenario for bioinformatics-based research.

The bioinformatics services market is segmented into academic institutes and research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and other end users.

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