Bioinformatics Market is estimated to be USD 8.21 billion in 2019 and is predicted to reach USD 33.06 billion by 2030 with a CAGR of 13.5%

Bioinformatics is a branch of science which is a combination of information technology and biology which helps to the to link biological data by using various techniques for storage and distribution which further helps in the research and biomedicine. It involves various software which helps in the data storage, mining, data processing and others. It also helps in the structural study of genomics, DNA microarrays, medical information and others.

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Top Companies: Geneva Bioinformatics (Genebio), Agilent Technologies, Inc., Eurofins Scientific, Dassault Systems, Bruker Daltonics Inc., Illumina Inc., Perkinelmer Inc., Biomax Informatics AG, Thermo Fisher Scientific, Inc. and Qiagen N.V and others.

Market Dynamics and Trends

There have been various technological advancements taking place in the market accompanied with the modernization and improvement of infrastructure. Furthermore, increase in research and development activities coupled with increased demand of protein and nucleic acid sequencing over the forecast period are further expected to promote the growth of bioinformatics market.

The other factors include increase in drug development and discovery coupled with supporting government to further promote such activities. Moreover, increase demand of integrated data with wide applications of bioinformatics is further expected to accelerate the growth of bioinformatics market. However, lack of skilled labor and lack of user friendly tools are further expected to inhibit the growth of bioinformatics market. On the other hand, increased use of integrated software coupled with increased use of artificial intelligence in the healthcare are further expected to create ample opportunities in the bioinformatics market.

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Market Segmentations and Scope of the Study:

The global bioinformatics market share is analyzed on the basis of technology & services, applications, sectors and geography. On the basis of technology & services, the market is segmented into knowledge management tools, bioinformatics platforms, and bioinformatics services. The knowledge management tools are sub segmented into generalized knowledge management tools and specialized knowledge management tools. The bioinformatics platforms is further divided into sequence alignment platforms, sequence analysis platforms, structural analysis platforms, sequence manipulation platforms, and others. The bioinformatics services segment is further sub segmented into sequencing services, database & management, data analysis, and others. On the basis of application, the market is divided into metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics, and others. Based on sectors, the market is fragmented into medical bioinformatics, animal bioinformatics, agriculture bioinformatics, academics, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to dominate the bioinformatics market in terms of market share owing to the increased adoption of bioinformatics. Furthermore, increase in drug development and discovery, coupled with increase in research and development activities and technological advancement are further expected to augment the market growth.

Asia Pacific is expected to dominate the bioinformatics market in terms of growth rate over the forecast period owing to the presence of developing economies. Moreover, increasing demand of nucleic acid and protein sequencing, coupled with applications and various government initiatives to further support the bioinformatics are expected to support the market growth.

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