Bioinformatics Market Size, Trends, Growth, Opportunities (2024-2032) | QIAGEN, Illumina, Inc., and Agilent Technologies, Inc.

The bioinformatics market was valued at USD 20.72 billion in 2023 and is expected to be worth USD 25.83 billion in 2024. It is projected to reach USD 94.76 billion by 2032, recording a CAGR of 17.6% during the forecast period.

Bioinformatics gathers, analyzes, and displays information to help users study life processes in healthy and diseased states. This computer-assisted field of data management assists researchers in discovering and creating next-generation vaccines and medicines. The increasing use of this technology in every stage of the drug discovery process, including target identification, drug design, and prediction of drug toxicity will further fuel the market's growth.

To know more about this market, please visit: https://www.fortunebusinessinsights.com/enquiry/sample/bioinformatics-market-109493

𝗡𝗼𝘁𝗮𝗯𝗹𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁:

February 2023 - BioSkryb Genomics announced the commercial launch of the BaseJumper bioinformatics platform and ResolveOME whole genome and transcriptome amplification system. This launch will help deepen medical researchers' understanding of complex human diseases.

𝗧𝗼𝗽 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗶𝗻 𝗧𝗵𝗲 𝗕𝗶𝗼𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗰𝘀 𝗠𝗮𝗿𝗸𝗲𝘁:

• DNAnexus, Inc. (U.S.)
• Illumina, Inc. (U.S.)
• Agilent Technologies, Inc. (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• IBM Corporation (U.S.)
• Labvantage - Biomax GmbH (Germany)
• Genebio (Switzerland)
• Compugen Ltd. (Israel)
• Eurofins Scientific (Luxembourg)
• QIAGEN (Netherlands)

𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻:

𝗨𝘀𝗲 𝗼𝗳 𝗕𝗶𝗼𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗰𝘀 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗗𝘂𝗲 𝘁𝗼 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗢𝗳𝗳𝗲𝗿𝗲𝗱 𝗯𝘆 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗮𝗻𝗱 𝗦𝗲𝗾𝘂𝗲𝗻𝗰𝗶𝗻𝗴 𝗣𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀

Based on offerings, the market is divided into software and services. The software segment held a dominant bioinformatics market share in 2023. The adoption of this software is increasing due to the benefits offered by sequencing and analysis platforms. This is also encouraging market players to increase their investments in research & development initiatives.

𝗖𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁𝘀 𝗶𝗻 𝗗𝗡𝗔 𝗦𝗲𝗾𝘂𝗲𝗻𝗰𝗶𝗻𝗴 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝗕𝗼𝗼𝘀𝘁𝗲𝗱 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗨𝘀𝗲 𝗶𝗻 𝗚𝗲𝗻𝗼𝗺𝗶𝗰𝘀

In terms of application, the market is segmented into metabolomics, pharmacology, genomics, transcriptomics, and others. The genomics segment dominated the market in 2023 as DNA sequencing technology is undergoing rapid and consistent advancements. This is increasing the use of this technology in genomics.

𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝗨𝘀𝗲 𝗼𝗳 𝗕𝗶𝗼𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗰𝘀 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲 & 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗶𝗻 𝗗𝗿𝘂𝗴 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿𝘆 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 𝘁𝗼 𝗠𝗮𝗸𝗲 𝗣𝗵𝗮𝗿𝗺𝗮 & 𝗕𝗶𝗼𝘁𝗲𝗰𝗵 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗠𝗮𝗷𝗼𝗿 𝗘𝗻𝗱-𝗨𝘀𝗲𝗿𝘀

Based on end-users, the market is segmented into pharmaceutical & biotechnology companies, CROs & research institutes, and others. The pharmaceutical & biotechnology companies segment dominated the market in 2023 as the pharma sector is focusing on using cutting-edge software and solutions in its drug discovery processes by partnering with other organizations.

Concerning region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

𝗥𝗲𝗽𝗼𝗿𝘁 𝗖𝗼𝘃𝗲𝗿𝗮𝗴𝗲:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading offerings, applications, top-end users, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

𝗙𝗼𝗿 𝗙𝘂𝗹𝗹 𝗥𝗲𝗽𝗼𝗿𝘁 𝗖𝗼𝘃𝗲𝗿𝗮𝗴𝗲 𝗩𝗶𝘀𝗶𝘁: https://www.fortunebusinessinsights.com/bioinformatics-market-109493

𝗗𝗿𝗶𝘃𝗲𝗿𝘀 𝗮𝗻𝗱 𝗥𝗲𝘀𝘁𝗿𝗮𝗶𝗻𝘁𝘀:

𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝗔𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝗔𝗜 𝗮𝗻𝗱 𝗠𝗟 𝘁𝗼 𝗕𝗼𝗼𝘀𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵

Many leading market players are using Artificial Intelligence (AI) and Machine Learning (ML) in bioinformatics to identify meaningful patterns in large datasets. The use of these cutting-edge technologies can help pharma companies accelerate the drug discovery & development processes, launch personalized drugs, and improvise prediction models. Since these technologies generate large volumes of data, bioinformatics can help market players simplify their medical research processes, thereby driving the market's development.

However, one of the major factors impeding the bioinformatics market growth is the lack of standardization in data formats.

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀:

𝗚𝗿𝗼𝘄𝗶𝗻𝗴 𝗟𝗮𝘂𝗻𝗰𝗵 𝗼𝗳 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀 𝘁𝗼 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗨𝘀𝗲 𝗛𝗲𝗹𝗽𝗲𝗱 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝗗𝗼𝗺𝗶𝗻𝗮𝘁𝗲 𝗚𝗹𝗼𝗯𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁

North America dominated the global market in 2023 as government and non-government organizations across the region are launching various initiatives and programs to support the adoption of bioinformatic platforms in the healthcare sector. Using these platforms can help medical researchers analyze vast volumes of clinical data, further contributing to the regional market's growth.

Asia Pacific is expected to register the fastest CAGR in the coming years due to a strong growth in the number of clinical trials across the region, which has increased the quantity of clinical data to be analyzed by bioinformatics solutions.

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲:

𝗟𝗲𝗮𝗱𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗣𝗹𝗮𝘆𝗲𝗿𝘀 𝘁𝗼 𝗘𝗻𝘁𝗲𝗿 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀 𝗮𝗻𝗱 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗢𝗳𝗳𝗲𝗿𝗶𝗻𝗴𝘀 𝘁𝗼 𝗥𝗲𝗺𝗮𝗶𝗻 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲

The market's competitive landscape is witnessing a small share of companies leading this market's growth. Organizations, including Agilent Technologies, Inc., Illumina Inc., and QIAGEN are dominating this market due to their vast product portfolios. They are also focusing on signing various partnership deals to expand their customer base and strengthen their market position.

𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗔𝗰𝗰𝗼𝗿𝗱𝗶𝗻𝗴 𝗧𝗼 𝗬𝗼𝘂𝗿 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/bioinformatics-market-109493

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This release was published on openPR.