Bioinformatics Market Size, Share, Statistics, Trends, Competitive analysis, Regional Growth from 2022 to 2030

The Global Bioinformatics Market Size Accounted for USD 12,312 Million in 2021 and is predicted to be worth USD 46,129 Million by 2030, with a CAGR of 16.2% during the forthcoming period from 2022 to 2030.

Bioinformatics is the solution of computer application to the analysis and management of biomedical information. It includes biomedical data collection, analysis, and distribution. Growing demand for new therapeutic R&D, as well as private and government funding initiatives to endorse research and innovation are expected to be the major factors driving the bioinformatics market size throughout the forecast period. Furthermore, the emergence of user-friendly and easily accessible bioinformatics solutions such as AUTODOCK, BALL, RasMol, and Bioclipse, as well as increasing business utilization of these techniques for reliable and efficient evaluation of biomarkers discovery programs that aid in toxic effects diagnosis during the early stages of the drug discovery and development are expected to propel the bioinformatics market growth over the next few years.

Bioinformatics is a field of biological science and IT tools that connects biological and generic data to techniques for distribution, storage, and analysis in order to facilitate a wide range of scientific investigations, including biomedical research. It employs software applications for database development, data mining, data warehousing, information management, and other purposes. Mining such relevant information leads to technical innovations, that are used in genetics and genome research activities. There are innumerable bioinformatics tools and solutions available in the industry. Moreover, Protein analysis and functional tools, sequence analysis tools, similarity and homology tools, as well as miscellaneous software are among them. Also, it is widely used in numerous application areas, including efficient genomics, DNA microarrays, structural genomics, medical information and comparative genomics. As a result, the mentioned features boost the global bioinformatics market share.

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Global Bioinformatics Market Dynamics

The global bioinformatics market growth is predicted to expand rapidly in the coming years, owing to increased demand for data collected, increased demand for protein and nucleic acid sequencing due to lower sequence alignment costs, and increased software of genomics and proteomics data. Furthermore, drug discovery and improvement, as well as organizations from private and government organizations, are expected to drive the bioinformatics market value throughout the forecast period.

Global Bioinformatics Market Regional Outlook

The global bioinformatics market is divided into five geographic regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. According to the bioinformatics market analysis, North America is expected to be the prominent region in the market in 2021. Due to beneficent government legislation in favor of market participants and the rising implementation of cutting-edge technologies, the North America bioinformatics market is growing. Furthermore, the presence of significant market players, as well as their ongoing product development, collaborations, and mergers, are credited with the growth of the North American bioinformatics market. The United States government is continuing to invest in the development of the bioinformatics market. Moreover, growing activities in research and development are paving the way for the region's bioinformatics market to grow.

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Market Segmentation

The global bioinformatics market has been segmented by Acumen Research and Consulting based on technology & services, application, and sector. In terms of the technology & services, the market is separated into bioinformatics platforms, bioinformatics services, and knowledge management tools. Based on the application, the segment is classified into proteomics, chemo-informatics, transcriptomics, molecular phylogenetic, metabolomics, genomics, and others. By sector, the industry is divided into agriculture bioinformatics, animal bioinformatics, academics, medical bioinformatics, and others.

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Bioinformatics Market Players

Some of the prominent bioinformatics market companies are Illumina, Inc., Fios Genomics, Thermo Fisher Scientific Inc., Eurofins Scientific, Waters Corporation, Agilent Technologies, QIAGEN N. V., NeoGenomics Laboratories, Perkin Elmer Inc., and Source BioScience.

Major players in the global bioinformatics market are strengthening their position in the market through different strategies such as acquisitions and mergers and strategic partnerships with other organizations in order to introduce new products and services globally. Among the growth strategies used by players in the global bioinformatics market are:

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