Digital Bioinformatics Market is projected to reach the value of $20 billion by 2030

In 2022, the Global Digital Bioinformatics Market was valued at $6.75 billion, and is projected to reach a market revenue of $20 billion by 2030. Over the forecast period of 2023-2030, market is estimated to grow at a CAGR of 15%.

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The Digital Bioinformatics market has been growing rapidly over the past decade and is expected to continue to do so in the years to come. Bioinformatics involves the use of computer technology to manage and analyze biological data, and the growing demand for personalized medicine, increased efficiency in drug discovery, and advancements in genomics research are some of the major factors driving the growth of the market.

One of the long term market drivers for the Digital Bioinformatics industry is the increasing demand for personalized medicine. As the world population continues to grow and age, the need for individualized treatments and therapies is becoming more pressing. Bioinformatics tools are essential for analyzing the vast amounts of genetic and molecular data required for personalized medicine, and as a result, the demand for digital bioinformatics services is increasing.

The COVID-19 pandemic has also had a significant impact on the Digital Bioinformatics market, particularly in the short term. The pandemic has highlighted the importance of data analysis and management in the field of healthcare, and bioinformatics has played a crucial role in the fight against the virus. For example, bioinformatics tools have been used to analyze the genomic sequence of the virus, which has led to the development of new diagnostic tests and vaccines. As a result, the demand for bioinformatics services has surged during the pandemic.

In addition to the long term and short term drivers, there are also several trends and opportunities in the Digital Bioinformatics industry that are worth noting. One trend that has been observed is the increasing use of artificial intelligence (AI) and machine learning (ML) in bioinformatics. These technologies are being used to analyze and interpret large datasets more quickly and accurately than traditional methods, which is driving demand for digital bioinformatics services that specialize in AI and ML.

Another opportunity in the Digital Bioinformatics market is the increasing focus on data privacy and security. As the amount of data generated by genomics research and personalized medicine continues to grow, ensuring the privacy and security of this data is becoming more important. Bioinformatics companies that can provide secure and compliant data management solutions are likely to be in high demand.

Finally, a short term market driver in the Digital Bioinformatics industry is the increasing demand for bioinformatics services from the pharmaceutical industry. As drug discovery becomes more complex and expensive, pharmaceutical companies are increasingly turning to bioinformatics tools to help them identify potential drug targets more efficiently. As a result, demand for bioinformatics services from the pharmaceutical industry is expected to continue to grow in the short term.

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Segmentation Analysis:
The global Digital Bioinformatics Market segmentation includes:

By Product and Services Type:
• Products (Sequencing Platforms, Knowledge Management Tools, Bioinformatics Software)
• Services (Data Analysis, Sequencing, Database integration, Others)

The largest segment in this category is products, which includes a variety of tools and software that help manage and analyze biological data. However, during the forecast period, services are expected to be the fastest growing segment due to the increasing demand for data analysis and sequencing services.

Bioinformatics software and knowledge management tools are essential for managing and analyzing the vast amounts of data generated by genomics research and personalized medicine. These tools help researchers to identify genetic variations and mutations that may be associated with disease, as well as potential targets for drug development. As a result, the market for bioinformatics software and knowledge management tools is expected to remain strong in the coming years.

In addition to software and tools, bioinformatics services are also in high demand. Data analysis and sequencing services are particularly important, as they help researchers to process and interpret large datasets more quickly and accurately than traditional methods. The increasing use of AI and ML in bioinformatics is also driving demand for services that specialize in these technologies.

By Application:
• Preventive Medicine
• Molecular Medicine
• Genomics
• Drug Development
• Transcriptomics
• Others

The largest segment in this category is molecular medicine, which involves the use of molecular biology techniques to diagnose and treat diseases. However, during the forecast period, drug development is expected to be the fastest growing segment due to the increasing demand for bioinformatics tools and services to help identify potential drug targets more efficiently.

Preventive medicine is an important application area for bioinformatics, as it involves identifying genetic risk factors for disease and developing personalized prevention strategies. Genomics research is also an important application area, as it involves studying the structure and function of genomes and their interactions with the environment. Transcriptomics is another application area, which involves the study of the transcriptome - the set of all RNA molecules produced by a cell or tissue.

Drug development is another key application area for bioinformatics, as it involves identifying potential drug targets and developing new drugs more efficiently. Bioinformatics tools and services can help researchers to identify potential drug targets by analyzing large datasets of genetic and molecular data. As drug development becomes more complex and expensive, the demand for bioinformatics services in this area is expected to continue to grow.

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By End-User:
• Medical Biotechnology
• Academics
• Animal Biotechnology
• Agricultural Biotechnology
• Environmental Biotechnology
• Forensic Biotechnology

The medical biotechnology sector is the largest in this segment, as bioinformatics tools and services are critical for understanding the genetic basis of disease and developing personalized treatments. Academic research also relies heavily on bioinformatics, as researchers in fields such as genomics, proteomics, and systems biology use these tools to analyze and interpret large datasets. In animal biotechnology, bioinformatics is used to study the genetics of livestock and improve breeding programs, while in agricultural biotechnology it is used to develop new crop varieties and improve yields. Environmental biotechnology relies on bioinformatics to analyze the genetic makeup of organisms in the environment and develop strategies for environmental remediation, while forensic biotechnology uses bioinformatics to analyze DNA evidence and solve crimes.

The medical biotechnology sector is also expected to be the fastest growing segment during the forecast period, as advances in genomics and personalized medicine drive demand for bioinformatics tools and services. Other industries, such as animal biotechnology and agricultural biotechnology, are also expected to see steady growth as genetic analysis becomes increasingly important in these fields.

Regional Analysis:
The Digital Bioinformatics market is also analyzed by region, with the largest market currently being North America. This is due in part to the concentration of biotechnology companies and academic research institutions in the United States and Canada, as well as the large market for personalized medicine in this region. Europe is also a significant market for bioinformatics, with a strong academic research community and a growing interest in personalized medicine.

The Asia-Pacific region is expected to be the fastest growing segment during the forecast period, driven by the rapidly growing biotechnology industry in countries such as China and India. These countries have invested heavily in biotechnology research and development, and are home to a growing number of biotech startups and companies. The region is also seeing increasing demand for personalized medicine and genomics research, which is driving growth in the bioinformatics market.

The Rest of the World segment includes regions such as Latin America, the Middle East, and Africa, which are expected to see steady growth in the bioinformatics market. While these regions currently have smaller biotechnology industries and academic research communities, there is growing interest in these fields and increasing investment in research and development.

Latest Industry Developments:
• In March 2021, Illumina announced that it has acquired GRAIL for USD 8 billion. GRAIL is a healthcare company focused on multi-cancer early detection from blood using next-generation sequencing (NGS) technology. This acquisition will enable Illumina to accelerate innovation and adoption of NGS-based tests for cancer screening and diagnosis.

• In February 2021, Thermo Fisher Scientific announced that it has entered into a definitive agreement to acquire Mesa Biotech for approximately USD 450 million. Mesa Biotech is a privately held molecular diagnostic company that developed an affordable and easy-to-use PCR-based rapid point-of-care testing platform for infectious diseases. This acquisition will expand Thermo Fisher's portfolio of molecular diagnostics and enhance its capabilities in COVID-19 testing.

• In January 2021, QIAGEN launched QCI Interpret One, a new cloud-based solution that integrates QIAGEN Clinical Insight (QCI) Interpret software with N-of-One clinical interpretation services. QCI Interpret One provides comprehensive genomic variant interpretation and reporting for oncology applications, enabling faster and more informed treatment decisions for cancer patients.

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This release was published on openPR.