Bioinformatics Market

According to Stratistics MRC, the Global Bioinformatics Market is accounted for $13.3 billion in 2024 and is expected to reach $30.8 billion by 2030 growing at a CAGR of 15.0% during the forecast period. Bioinformatics is an interdisciplinary field that combines biology, computer science, and information technology to analyze and interpret biological data. It involves developing algorithms, software tools, and databases to store, manage, and analyze large volumes of biological data, such as DNA sequences, protein structures, and gene expressions. Bioinformatics plays a crucial role in various areas of biological research, including genomics, proteomics, evolutionary biology, and drug discovery. By leveraging computational techniques and statistical methods, bioinformatics enables researchers to gain insights into biological processes, understand disease mechanisms, and develop novel therapies, ultimately advancing understanding of life sciences and medicine.

According to an article published by Stanford Medicine in January 2022, research conducted by Stanford scientists showed that a DNA sequencing technique could sequence a human genome in about 8 hours.

Market Dynamics: 

Driver: 

Surging demand for next-generation sequencing (NGS) and growing data volume

Next-generation sequencing generates massive amounts of complex data, including DNA and protein sequences. This data is essentially meaningless without proper analysis and interpretation. Bioinformatics tools are essential for making sense of this data, identifying patterns, and extracting valuable insights. Moreover cloud computing offers a scalable and cost-effective solution for storing and analyzing NGS data. This growth in cloud-based bioinformatics tools further expands the market and makes these powerful resources more accessible driving the growth of the market.

Restraint:

High cost of bioinformatics tools and services 

The sophisticated nature of these tools, coupled with the computational resources required for data analysis, contributes to their elevated pricing. As a result, smaller research institutions, academic labs, and biotech startups with limited budgets may face challenges accessing and utilizing advanced bioinformatics solutions. This disparity in access can hinder collaboration, innovation, and scientific progress, as it limits the participation of diverse stakeholders in the field hampering the market growth.

Opportunity:

Rise of precision medicine and personalized healthcare

Personalized healthcare approaches require detailed analysis of individual genetic, molecular, and clinical data to tailor treatments to patients' specific characteristics and needs. Bioinformatics plays a central role in processing, analyzing, and interpreting large-scale biological and medical data sets, enabling the identification of biomarkers, disease subtypes, and therapeutic targets. As precision medicine gains traction in various medical fields, including oncology, cardiology, and neurology, the demand for advanced bioinformatics tools and services grows exponentially.

Threat:

Shortage of skilled bioinformatics professionals

As the demand for bioinformatics tools and services increases, there is a parallel need for experts proficient in computational biology, data analysis, and programming. However, the supply of qualified professionals in this specialized field often falls short of industry demands. This shortage can result in delays in research projects, reduced efficiency in data analysis, and increased costs for organizations seeking to utilize bioinformatics solutions.

Covid-19 Impact 

The urgent need for understanding the virus's genomic structure, transmission patterns, and drug development, bioinformatics tools and expertise became crucial. This led to increased demand for bioinformatics solutions for analyzing COVID-19-related data, such as genomic sequencing, protein modeling, and epidemiological studies. Additionally, disruptions in research activities and funding challenges during the pandemic affected the adoption of bioinformatics tools in non-COVID research areas.

The molecular phylogenetics segment is expected to be the largest during the forecast period

The molecular phylogenetics is expected to be the largest during the forecast period as it relies heavily on bioinformatics tools and algorithms for DNA and protein sequence analysis, phylogenetic tree construction, and evolutionary modeling. As molecular phylogenetics plays a crucial role in various scientific disciplines such as evolutionary biology, biodiversity conservation, and infectious disease research, the demand for advanced bioinformatics solutions continues to grow.

The animal & plant biotechnology segment is expected to have the highest CAGR during the forecast period

The animal & plant biotechnology segment is expected to have the highest CAGR during the forecast period owing to increasing adoption of biotechnological approaches in agriculture, pharmaceuticals, and environmental conservation fuels the need for bioinformatics solutions tailored to animal and plant genomic data analysis. This trend stimulates market growth by spurring innovation in bioinformatics software, databases, and algorithms designed to support animal and plant biotechnology research and applications, thereby expanding opportunities and driving advancements in the bioinformatics market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period due to a focus on precision medicine, personalized healthcare, and genomic research, the region witnesses’ high demand for bioinformatics tools and services. Key factors such as technological advancements, government initiatives, and strategic collaborations between academia and industry further propel market growth. Additionally, the increasing adoption of bioinformatics in pharmaceutical and biotechnology companies contributes to the market's expansion.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period due to factors such as increasing investments in healthcare infrastructure, rising adoption of advanced technologies, and expanding research and development activities in life sciences. Countries like China, India, Japan, and South Korea are witnessing significant advancements in genomics, proteomics, and personalized medicine, fueling demand for bioinformatics solutions. Additionally the region's burgeoning pharmaceutical and biotechnology sectors also contribute to the expanding adoption of bioinformatics tools and services.

Key players in the market

Some of the key players in Bioinformatics market include ABM, Agilent Technologies, BGI Group, Biowisdom Co., Ltd., Dassault Systèmes, DNAnexus Inc., Fios Genomics, Geneva Bioinformatics SA, Illumina, Lineage Cell Therapeutics, NeoGenomics Laboratories, Ontopos, Partek Inc., PerkinElmer, Qiagen, Seven Bridges Genomics, Source BioScience, Thermo Fisher Scientific and Waters Corporation

Key Developments:

In June 2024, Valeo Partners with Dassault Systèmes to Accelerate the Digitalization of Its R&D. Valeo will deploy Dassault Systèmes’ 3DEXPERIENCE platform to optimize the development of new technologies for safer and more sustainable mobility

In May 2024, JLR and Dassault Systèmes Extend Partnership, Deploying the 3DEXPERIENCE Platform for All Vehicle Programs Worldwide. The 3DEXPERIENCE platform connects all stakeholders in one collaborative virtual environment, leveraging the latest technological innovation

In March 2024, Thermo Fisher Scientific Unveils New Solutions Supporting Research Workflows at ASMS 2024. The new mass spectrometry and chromatography instruments and software solutions enable customers to unlock deeper analytical insights with built-for-purpose flexibility

Products Covered:
• Bioinformatics Platforms
• Bioinformatics Services
• Other Products

Applications Covered:
• Molecular Phylogenetics 
• Genomics 
• Metabolomics 
• Proteomics 
• Transcriptomics 
• Cheminformatics & Drug Designing 
• Other Applications   

End Users Covered:
• Medical
• Animal & Plant Biotechnology
• Environmental Biotechnology
• Forensic Biotechnology
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances