Global Bioinformatics Market is expected to grow at a healthy CAGR of 13-14% by 2027 - Agilent, Biomax Informatics, QIAGEN, Thermo Fisher, PerkinElmer, Illumina, Eurofins Scientific, DNASTAR

Bioinformatics is an interdisciplinary segment that connects computer technology, mathematics, physics, and biology. It is a segment of science that develops software tools and methods to manage and analyze data for modern biology and medicine. It aids researchers to analyze & extract valuable information from vast amounts of medical data and identify connections between multiple studies.

Technological Developments and Innovations in Bioinformatics Drives the Growth of the Global Bioinformatics Market

The global bioinformatics market is a fast-growing market. Latest technological developments and innovations in genomic and proteomic research have led to the generation of a large amount of data that needs different bioinformatics tools and software for analysis and interpretation. Growing adoption of cloud-based solutions and AI in drug discovery and development has created many new and ample growth opportunities for bioinformatics in the global market.

For instance,

In November 2022, the bioinformatics business division QDI of QIAGEN, launched their new cell line database developed through its partnership with ATCC, the key biological materials organization, developer, and supplier of authenticated cell lines. This collaboration will further offer easy access to a unique and valuable cell line data to help its clients answer research questions more efficiently.

An Increasing Demand for Bioinformatics in the Segment of Genomics

With an increasing demand for personalized medicine and precision healthcare, there is a quick surge in the demand for nucleic acid and protein sequencing which is further driving the growth of the global bioinformatics market. Growing number of funds from private and public companies, and supportive government initiatives for promoting genomics research are driving the adoption of the various bioinformatics tools and services in the global bioinformatics market. The leading market players are making large investments in genome and information technology projects for conducting R&D activities and are launching new products which is also triggering the growth of the global bioinformatics market.

For instance,

In April 2023, Agilent Technologies signed a Memorandum of Understanding (MOU) with Theragen Bio to enhance precision oncology through advancing bioinformatics (BI) solutions. This collaboration will combine their respective strengths and accelerate treatment decisions.

Market Constraints/Challenges: Global Bioinformatics Market

Shortage of skilled and experienced professionals with expertise in both biology and computer science, the higher costs of bioinformatics tools and software, and the demand to integrate large chunks of data from different sources are some of the major challenges which might impact the growth of the global bioinformatics market. 

North America Holds the Largest Market Share in the Global Bioinformatics Market

North America is projected to dominate the global bioinformatics market in the upcoming years. This can be mainly attributed due to a growth in the number of genomic research studies, growing awareness and adoption of bioinformatic services, well-developed and advanced healthcare system and the presence of leading market players in the region. However, the APAC region is anticipated to witness the highest CAGR during the forecast period. Other factors such as technological advancements in the segment of genomics and growing investments in the healthcare segment are driving the growth of the APAC market.

Competitive Landscape Analysis: Global Bioinformatics Market

The top and well-established players operating in the global bioinformatics market are Agilent, Biomax Informatics, QIAGEN, Thermo Fisher, PerkinElmer Inc., Illumina, Eurofins Scientific, DNASTAR, NeoGenomics Laboratories, Fios Genomics, Source BioScience, SOPHiA GENETICS, among others.

Organic and Inorganic Growth Strategies Adopted by the Leading Market Players to Establish Their Foothold in the Global Bioinformatics Market

Key players operating in the global bioinformatics market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner a larger market share.

For instance,

In April 2022, IPA (IMMUNOPRECISE ANTIBODIES LTD.) acquired BioStrand which is a group of Belgian biotech entities and pioneers in the field of bioinformatics and biotechnology. This collaboration will enhance its antibody discovery capabilities by adding the BioStrand AI-driven technologies.

The global bioinformatics market is an emerging market and is expected to gain a consistent momentum in the upcoming years due to a primary focus on developing new drugs and therapies, rising investments in R&D activities to introduce advanced healthcare products, and organic and inorganic growth strategies adopted by the industry players.

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Ruta Halde
Associate, Medi-Tech Insights
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Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

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