Bioinformatics Market Outlook 2024: Exclusive Report By The Business Research Company | Agilent Technologies Inc., Illumina Inc., QIAGEN NV, Affymetrix Inc., Thermo Fisher Scientific Inc., BGI Group, Dassault Systems SE, Eurofins Scientific SE, Bruker Cor

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Bioinformatics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The bioinformatics market size has grown rapidly in recent years. It will grow from $14.86 billion in 2023 to $16.9 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to genomic sequencing advancements, biomedical research growth, drug discovery and development, personalized medicine, agriculture and biotechnology.

The bioinformatics market size is expected to see rapid growth in the next few years. It will grow to $28.27 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to advancements in omics technologies, artificial intelligence (ai) and machine learning, data integration and cloud computing, biomarker discovery and diagnostics, interdisciplinary collaboration. Major trends in the forecast period include genomic data explosion, personalized medicine, machine learning and ai, drug discovery and development.

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Market Segmentation:
The main product and service types of bioinformatics are knowledge management tools, data analysis platforms, and services. Knowledge management tools are technologies used by organizations to share information both internally and externally. The various applications include metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics, and others that are used by pharmaceutics, animal studies, agriculture, forensic science, and other end users.

Major Driver - Protein Sequencing And The Surging Demand For Bioinformatics Solutions In The Market
Increasing demand for protein sequencing is driving growth in the bioinformatics market. Protein sequencing refers to the process of determining the sequence of amino acids in all or part of the proteins present in DNA, based on which specific functions, activities, origin, or localization of the protein are determined. Protein sequencing helps analysts to understand the distribution of amino acids along the sequences and the structure of proteins. With bioinformatics methods and databases, the capacity, structure, and developmental history of proteins can be effectively identified. The demand for protein sequencing is expected to grow on account of factors such as advancements in clinical mass spectrometry and analytical techniques, and the significant adoption of target-based drug development by pharmaceutical and biotechnology companies. For instance, in 2021, the total number of protein sequences in UniProtKB, which is a freely accessible database of protein sequence and functional information, increased to approximately 190 million.

Competitive Landscape:
Major companies operating in the bioinformatics market include Agilent Technologies Inc., Illumina Inc., QIAGEN NV, Affymetrix Inc., Thermo Fisher Scientific Inc., BGI Group, Dassault Systems SE, Eurofins Scientific SE, Bruker Corporation, Biomax Informatix AG, DNASTAR Inc., Partek Inc., Geneva Bioinformatics SA, Perkinelmer Inc., Accelrys Inc., Nonlinear Dynamics SA, Quest Diagnostics Inc., Sophia Genetics SA, Waters Corporation, Permin Elmer Inc., Celera Corporation, Tripos Inc., Helicos Biosciences Incorporation, IBM Life Sciences, Applied Biologicals Materials Inc., Life Technologies Corporation, GNS Healthcare Inc., DNAnexus Inc., Intrexon Bioinformatics Germany GmbH, Syapse Inc.

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Top Trend - Investments In Nanopore Sequencing Technology Drive Bioinformatics Market Growth
Companies in the bioinformatics market are increasingly investing in the research and development of nanopore sequencing technology. Nanopore sequencing is a single molecule DNA sequencing technology that eliminates the need for Polymerase Chain Reaction or chemical labeling of the sample. This technology passes ionic current through nanopores (a pore of nanometer size) and when the biological molecules pass through the nanopores or near to it them this technology measures the changes in current which can be used to identify the molecule. Nanopore sequencing technology offers high throughput, low cost, longer reads (Sequence of a section of a unique fragment) to the analyst and helps in the collection of data which is an essential part of bioinformatics. For instance, in 2021, Oxford Nanopore Technologies raised $705.56 million an IPO to support the ramp of commercial and manufacturing operations and to further develop its nanopore technology.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Bioinformatics Market Characteristics
3. Bioinformatics Market Trends And Strategies
4. Bioinformatics Market - Macro Economic Scenario
5. Bioinformatics Market Size And Growth
…..
27. Bioinformatics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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