Virtual health assistants to keep the hopes high for Bioinformatics Services Market at a CAGR of 14.70%

The primary services offered by market players operating in the global bioinformatics services market are data analysis, gene expression, sequencing, database administration, and discovery. These solutions in the bioinformatics services market are employed in different specialty areas in healthcare and life sciences, including plant, medical, and forensics, among others. The Global Bioinformatics Services market is expected to witness a CAGR of 14.7% from USD 3,227.8 Million in 2022 to USD 8,442.9 Million in 2029.

The global market is highly fragmented due to its presence across multiple countries throughout Europe North America Asia Pacific Middle East Africa Latin America etc due various factors including government support availability of talent pool technological advancements etc These regions are home to several leading providers of bioinformatics services each offering a wide range products ranging from basic cloud based platform offerings through cutting edge AI powered applications focusing on precision medicine drug discovery or even population health management .

The increasing implementations of bioinformatics services across various along both - private and public sources are driving the growth of the global bioinformatics services market. The growing incidences of chronic diseases, and rising geriatric population are also likely to drive the growth of the bioinformatics services market. Apart from this, the constantly increasing collaboration between information technology (IT) corporations and pharma companies is expected to fuel the growth of the bioinformatics services market over the forecast period.

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Company Profiles:

Illumina, Inc.
Thermo Fisher Scientific
Strand Life Sciences, Inc.
CD Genomics
Biomax Informatics AG
DNANEXUS, INC.
Agilent Technologies, Inc.
QIAGEN N.V.
Gene Codes Corporation
BGI Group
Gene Code Corporation
PerkinElmer Inc.
Premier Biosoft
Biomatters Geneious
Creative-Biolabs
DNASTAR
GSL Biotech LLC (SnapGene)
FIOS Genomics

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Bioinformatics Services Market by Service Type

Drug Development
Molecular Medicine
Microbial Genome Applications
Gene Therapy
Veterinary Science
Forensic Analysis
Others

Bioinformatics Services Market by Application

Sequencing
Data Storage and Managemen
Data Analysis
Drug Discovery
Others

Bioinformatics Services Market by End User

Academics and Research Centers
Pharmaceutical and Biotechnology Industries
Forensics Laboratories
Others

Bioinformatics Services Market by Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa (MEA)

Europe Witnessed the Fastest Growth and is Expected to Continue Throughout Forecast Period

The COVID-19 outbreak had an impact on the European bioinformatics industry since healthcare services were drastically diverted as a result of social distancing measures implemented by several governments around the world. Several research institutions, and biotech and pharmaceutical companies in the European region are focusing their efforts on developing technologies that will allow for a faster and more reliable diagnosis of COVID-19.

There is also a lot of research being conducted to make considerable use of sequencing technology. Apart from this, the bioinformatics market is likely to be driven by a huge number of healthcare investments in the European region. Furthermore, the growing use of IoT technologies in this sector is expected to favorably benefit regional market growth. The bioinformatics market in this region is likely to be primarily dominated by key countries such as the United Kingdom, France, and Italy.

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