Press release
Bioinformatics Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Bioinformatics
How Large Will the Bioinformatics Market Size By 2025?
In recent years, the bioinformatics market has seen a rapid expansion. The market size, which is predicted to be $16.54 billion in 2024, is poised to rise to $18.62 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.6%. The substantial growth witnessed in the preceding years has been a result of several factors including advancements in genomic sequencing, expansion of biomedical research, growth in drug discovery and development, increased focus on personalized medicine, agriculture and biotechnology.
How Big Is the Bioinformatics Market Size Expected to Grow by 2029?
The market for bioinformatics is projected to witness a swift expansion in the upcoming years, with an estimated value of $32.76 billion by 2029, reflecting a compound annual growth rate (CAGR) of 15.2%. The growth during this forecast period is linked to progressions in omics technologies, artificial intelligence (AI) and machine learning, integration of data and cloud computing, discovery of biomarkers and diagnostics, and interdisciplinary collaboration. The main tendencies during this predicted period include a surge in genomic data, customised medicine, machine learning and AI, and the discovery and development of drugs.
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Which Key Market Drivers Powering Bioinformatics Market Expansion and Growth?
The expansion of the pharmaceutical sector is anticipated to stimulate the bioinformatics market's development. The pharmaceutical sector, including both private and governmental organizations, encompasses the discovery, production, and development of drugs and medications. Bioinformatics plays a crucial role in this industry, expediting the discovery and evolution of drugs, lowering costs, and enhancing the effectiveness and safety of drug treatments. As per the GOV.UK in May 2024, the life sciences industry of the UK generated a turnover of £108.1 billion during 2021/22, showing a 13% rise from the £95.9 billion turnover (adjusted for 2021/22 prices) recorded in 2020/21. As a result, the rising pharmaceutical industry is propelling the bioinformatics market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Bioinformatics Market?
A primary focus for leading corporations in the bioinformatics market is the development of technologically superior solutions such as bioinformatics platforms. The aim is to boost capabilities in data analysis, increase accuracy in tailored medicine, and speed up the process of drug discovery. Bioinformatics platforms are either software systems or comprehensive tool suites built to handle, scrutinize, and decode biological data - including genomic, proteomic, and metabolomic information - in order to back research and clinical decision-making. For example, in February 2024, Metabolon, Inc., a biotech firm based in the US, unveiled an all-encompassing bioinformatics platform, aimed at simplifying metabolomics research by allowing users to easily perform complex analyses. Notable features include sophisticated visualization capabilities, like volcano plots and principal component analysis (PCA), supplemented by biomarker lenses offering targeted view into specific pathways and diseases.
What Are the Emerging Segments in the Bioinformatics Market?
The bioinformatics market covered in this report is segmented -
1) By Products and Services: Knowledge Management Tools, Data Analysis Platforms, Services
2) By Application: Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics, Other Applications
3) By End Users: Pharmaceutics, Animal Study, Agriculture, Forensic Science, Other End Users
Subsegments:
1) By Knowledge Management Tools: Data Integration Tools, Literature Mining Tools, Data Repositories And Databases, Biological Data Visualization Tools
2) By Data Analysis Platforms: Genomic Data Analysis Platforms, Proteomics Data Analysis Platforms, Transcriptomics Data Analysis Platforms, Metabolomics Data Analysis Platforms
3) By Services: Data Analysis Services, Consulting Services, Software And Platform-As-A-Service (PaaS), Bioinformatics Research And Development Services
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Who Are the Global Leaders in the Bioinformatics Market?
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.
Which are the Top Profitable Regional Markets for the Bioinformatics Industry?
North America was the largest region in the bioinformatics market in 2023. Western Europe was the second largest region in the bioinformatics market analysis. The regions covered in the bioinformatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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