Press release
Bioinformatics Services Market: Segments Covered Sequencing Services, Data Analysis, Drug Discovery Services, Differential, Application: Chemoinformatics and Drug Design, Genomics, Proteomics, Transcriptomics, Metabolomics, Key Players: Illumina, Thermo F
The global Bioinformatics Services market size is projected to reach USD 2967.1 Million by 2027, from USD 1468.2 Million in 2020, at a CAGR of 10.1% during 2021-2027. The growing applications of bioinformatics in various industries, as well as the recent COVID-19 outbreak, are expected to fuel the bioinformatics service market.
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Bioinformatics Services Market Trends
The global bioinformatics services market is expected to grow as a result of the recent COVID-19 outbreak. One of the major focus areas for each country during the COVID-19 pandemic has been to study and understand how to stop the virus's spread. To develop vaccines and gain a better understanding of the virus's mechanism and how it works in the human body, the genome of the novel coronavirus had to be decoded. As a result, several studies were conducted to better understand the virus's genetic combination, with bioinformatics assisting these studies. In this context, outsourcing of bioinformatics services has increased during the pandemic.
Food, bioremediation, agriculture, forensics, and consumer goods are among the industries that use bioinformatics services to improve the quality of their products and supply chain processes. Bioinformatics services such as data integration, manipulation, lead discovery, data management, in silico analysis, and advanced knowledge discovery are increasingly being used by companies in a variety of industries. This broadening of bioinformatics services' application areas is expected to generate new revenue streams for market participants, resulting in increased adoption of these services and overall market growth for bioinformatics services.
Outsourcing data management and analytics can save pharma companies a lot of money. This factor will accelerate the growth of the bioinformatics market. Furthermore, rising bioinformatics adoption in research centers and laboratories, increased research funding, and pharmaceutical companies' increasing reliance on bioinformatics and high capital investments are all contributing to the growth of the Bioinformatics services market.
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Bioinformatics Services Market Share
By Type
• Sequencing Services
• Data Analysis
• Drug Discovery Services
• Differential
Due to falling sequencing costs, the sequencing service is expected to be the most profitable.
By Application
• Genomics
• Chemoinformatics and Drug Design
• Proteomics
• Transcriptomics
• Metabolomics
Key Players
• Illumina
• Thermo Fisher Scientific
• Eurofins Scientific
• BGI
• NeoGenomics
• PerkinElmer
• CD Genomics
• Macrogen
• QIAGEN
• GENEWIZ
• Source BioScience
• Microsynth
• MedGenome
• Fios Genomics
• BaseClear
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