Bioinformatics Market Top Companies Study - Agilent Technologies, Inc., Biomax Informatics Ag, Dnanexus, Inc., Genedata Ag, Intrexon Bioinformatics Germany Gmbh.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Bioinformatics Market Size, Share & Trends Analysis Report by Technology & Services (Knowledge Management Tools, Bioinformatics Platforms, Bioinformatics Services ), Applications (Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatic & Drug Design, Genomics), Sectors (Medical Bioinformatics, Animal Bioinformatics, Agriculture Bioinformatics, Academics)- Market Outlook And Industry Analysis 2031"

The global bioinformatics market is estimated to reach over USD 39.79 billion by 2031, exhibiting a CAGR of 14.01% during the forecast period.

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Bioinformatics refers to the computer-based management and analysis of biomedical data, encompassing the collection, processing, and dissemination of such information. The growth of the bioinformatics market is primarily driven by the increasing demand for innovative pharmaceutical research and development (R&D) and the rising level of financial support from both public and private sectors to foster research and innovation during the forecast period. Moreover, the increasing need for data collection, the growing demand for protein and nucleic acid sequencing due to declining costs associated with sequence alignment, and the expanding application of genomic and proteomic data are expected to significantly drive market growth in the coming years.

Both private and public sector companies, along with the pharmaceutical industry, are expected to contribute to the growth of the bioinformatics market value throughout the forecast period. Research on patient safety and learning through simulation further supports market expansion. Key factors fueling the growth of the bioinformatics industry include the rising demand for nucleic acid and protein sequencing, increased activity from government and private sector initiatives, rapid advancements in genomics and proteomics, and expanded research in cell biology and drug discovery.

The global bioinformatics market is expected to experience significant growth over the forecast period due to these driving factors. Increased approvals from the U.S. Food and Drug Administration (FDA) are anticipated to stimulate further R&D activities, thereby increasing the need for databases and software to optimize the drug design and development process, accelerating market growth. Furthermore, the development of advanced bioinformatics applications such as BALL, Biochips, Rasmi, and AUTODOCK is expected to enhance market potential and drive future expansion.

List of Prominent Players in the Bioinformatics Market:
• Agilent Technologies, Inc.
• Biomax Informatics Ag
• Dnanexus, Inc
• Genedata Ag
• Intrexon Bioinformatics Germany Gmbh
• Illumina, Inc.
• Perkinelmer, Inc.
• Qiagen N.V
• Seven Bridges Genomics Inc.
• Thermo Fisher Scientific, Inc.

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Market Dynamics
Drivers:
The application of bioinformatics for early detection of viral diseases has created new growth opportunities for the global bioinformatics market. Furthermore, bioinformatics has played a crucial role in the development of drugs and vaccines. During the COVID-19 pandemic, several strategic partnerships were established within the global bioinformatics sector, leading to increased procurement activity. The growth trajectory for medical applications in the bioinformatics industry is rising as new applications gain traction and established ones continue to advance. Research and development efforts have significantly contributed to market expansion in recent years, underscoring the support of regulatory bodies in facilitating the approval of specific products.

Challenges:
Market growth is expected to be constrained during the forecast period by the lack of user-friendly and cost-effective software, inconsistent data formats, and a shortage of skilled professionals. The bioinformatics field requires highly qualified personnel, and the scarcity of trained practitioners is anticipated to negatively impact the market's growth potential over the projected period.

Regional Trends:
North America is expected to hold a dominant share of the bioinformatics market in terms of revenue and is projected to grow at a high compound annual growth rate (CAGR) over the forecast period. This growth is driven by factors such as increased research into genetic manipulation and nucleotides, higher budget allocations for drug discovery using proteomic and metagenomic methods, and rising public awareness of the importance of biomedical data. Advancements in molecular biology processes, rapid adoption of advanced healthcare technologies, and increased use of genomic and proteomic research are key drivers of market growth in the region. Additionally, the Asia-Pacific region is projected to hold the second-largest market share. The expansion of the bioinformatics market in this region is fueled by increased healthcare sector investments and the adoption of advanced technologies such as artificial intelligence and the Internet of Things (IoT).

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Recent Developments:
• In June 2022-LatchBio, a biotechnology research startup in California debuted an end-to-end bioinformatics platform to handle large amounts of biotech data and speed up scientific research.
• In March 2022.-Rio, a bioinformatics pipeline and analytics platform providing better, quicker answers from next-generation sequencing tests, was introduced by ARUP.

Segmentation of Bioinformatics Market-
Bioinformatics Market By Technology & Services
• Knowledge Management Tools
o Generalized Knowledge Management Tools
o Specialized Knowledge Management Tools
• Bioinformatics Platforms
o Sequence Analysis Platforms
o Sequence Alignment Platforms
o Sequence Manipulation Platforms
o Structural Analysis Platforms
o Others
• Bioinformatics Services
o Sequencing Services
o Database Management
o Data Analysis
o Others
Bioinformatics Market By Application
• Metabolomics
• Molecular Phylogenetics
• Transcriptomics
• Proteomics
• Chemoinformatic & Drug design
• Genomics
• Others
Bioinformatics Market By Sector
• Medical Bioinformatics
• Animal Bioinformatics
• Agriculture Bioinformatics
• Academics
• Others
Bioinformatics Market By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.