Press release
Bioinformatics Market - Size, Trends & Industry Research
Meticulous Research® Unveils Comprehensive Insights in its Latest Report: 'Bioinformatics Market by Solutions & Services, Application, and Industry - Global Forecast to 2030'Meticulous Research®, a globally acclaimed market research firm, has recently released an in-depth report titled 'Bioinformatics Market by Solutions & Services (Knowledge Management, Platforms, Sequence Analysis, Services, Data Analysis), Application (Genomics, Metabolomics, Transcriptomics), Industry (Healthcare, Veterinary, Agriculture) Global Forecast to 2030'.
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The report forecasts a robust growth trajectory for the bioinformatics market, projecting a Compound Annual Growth Rate (CAGR) of 13.3% from 2023 to reach an estimated valuation of $27.98 billion by 2030. The significant surge in the biotech and pharmaceutical sectors, combined with initiatives supporting genomics research and an escalating demand for innovative drugs and drug molecules, propels this market's growth. However, challenges stemming from interoperability limitations in bioinformatics analytical platforms, attributed to diverse data types, pose a restraint on the market's expansion.
Emerging economies present untapped markets, and the expanding clinical applications of genomic technologies, along with the heightened use of bioinformatics in agriculture, are anticipated to create lucrative opportunities for market players. Nonetheless, the market faces substantial hurdles in the form of data privacy concerns and confidentiality issues, coupled with a shortage of skilled bioinformaticians.
Key Industry Players
Leading the charge in the bioinformatics market are prominent players such as Illumina, Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Qiagen N.V., Agilent Technologies, Inc., Dassault Systèmes SE, Eurofins Genomic LLC, Revvity, Inc., Azenta, Inc., and DNAnexus, Inc.
TOP 10 COMPANIES IN BIOINFORMATICS MARKET @ https://meticulousblog.org/top-10-companies-in-bioinformatics-market/?utm_source=openpr&utm_medium=paid&utm_campaign=product&utm_content=24-01-2024
Bioinformatics Market: A Glimpse into the Future
The global bioinformatics market is meticulously dissected across various parameters, including solutions & services (knowledge management software, bioinformatics platforms, and services), application (genomics, chemoinformatics, proteomics, transcriptomics, metabolomics, and other applications), industry (healthcare, veterinary, agriculture, and other industries), and geography.
In the realm of solutions & services, the knowledge management software segment is poised to dominate the market in 2023. The proliferation of genomic datasets, heightened adoption of precision medicine, increased investments in pharmaceutical R&D, and expanding research applications in genomics across diverse sectors, including agriculture, clinical decision-making, and predictive medicine, bolster the segment's prominence. Leveraging artificial intelligence (AI) and machine learning (ML) technologies, knowledge management software is at the forefront, identifying intricate patterns, correlations, and new insights within extensive datasets through techniques like data mining and AI-driven analytics.
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The application segment is vividly stratified into genomics, chemoinformatics, proteomics, transcriptomics, metabolomics, and other applications. The proteomics segment is expected to exhibit the fastest CAGR during the forecast period. The segment's growth is underpinned by the crucial role of proteomics in studying cancer, neurodegenerative disorders, and metabolic diseases, coupled with a global surge in disease prevalence. Notably, research initiatives in proteomics, such as the study conducted by the National Institute on Aging and Johns Hopkins University School of Medicine in 2023, contribute to our understanding of protein biomarkers linked to early-onset dementia.
Segmented by industry, the healthcare sector is anticipated to command the largest market share in 2023. This dominance is attributed to substantial investments in the research and development of new drugs and biologics by pharmaceutical and biotech entities, coupled with the global burden of chronic diseases. The ascendancy of precision medicine, characterized by treatment decisions based on individual genetic makeup and lifestyle habits, further propels the healthcare segment. The advantages offered by precision medicine, such as increased approvals for personalized medicine, are evident in the shift observed in 2021, where approvals for personalized medicine constituted 35% of total new molecular and cell-based therapies, up from 25% in 2019.
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Geographic Landscape
The research report provides an exhaustive analysis of major geographies, covering North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America (Brazil Mexico, and RoLATAM), and the Middle East & Africa. North America is poised to lead the bioinformatics market in 2023, followed closely by Europe and Asia-Pacific. Favorable government initiatives, the burgeoning applications of genomic research, cost-effective sequencing, heightened research investments by pharmaceutical and biopharmaceutical companies, and the rising adoption of precision cancer medicine contribute to North America's prominent market share.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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