Bioinformatics Market to move forward at a double-digit CAGR by 2027

United States, New York, 2023-Mar-17 — /EPR Network/ — Global Bioinformatics Market: by Service Type (Knowledge Management Tools, Bioinformatics Service, and Bioinformatics Platform), by Application (Metabolomics, Genomics, Proteomics, Molecular Phylogenetics, Chemoinformatic, Transcriptomics, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)

The bioinformatics market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive market analyses, capturing all the bioinformatics market aspects.

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Bioinformatics Industry Outlook

The bioinformatics market size is USD 8.7 billion in 2020 and is expected to reach USD 17.4 billion by 2027, with a CAGR of 14.5% during the forecast period, 2021-2027. Bioinformatics combines biology and technology, which connects biological data with techniques for storing information, distributing, and analyzing to support multiple scientific research areas, including biomedicine. It applies software tools for database creation, data mining, data warehousing, and others.

Factors Affecting the Bioinformatics Industry Over the Forecast Period:

Rising government initiatives and investment to support R&D for the development of a novel drug are anticipated to be the major factors driving the market over the forecast period

Major IT companies have started focuses on bioinformatics for healthcare applications. Investment is being made for advanced tests and techniques in battling diseases, including Parkinson’s and cancer. This may create a new opportunity for the development of the bioinformatics market over the forecast period

During the review period, the lack of skilled employees and the non-availability of a platform to integrate huge data are major factors restraining the global bioinformatics market.

Impact of COVID-19 on Bioinformatics Market:

The outburst of the COVID-19 pandemic has considerably affected the global bioinformatics market as the industry is witnessing significant growth due to an increase in demand for bioinformatic devices in this COVID-19 pandemic where everything is operating through no-touch contacts.

Scope of the Report

The report outlines the global bioinformatics market study based on service type and application.

Based on the service type, the bioinformatics market has been segmented into –

• Knowledge Management Tools
• Bioinformatics Service
• Bioinformatics Platform

Based on the application, the bioinformatics market has been segmented into –

• Metabolomics
• Genomics
• Proteomics
• Molecular Phylogenetics
• Chemoinformatics
• Transcriptomics
• Others

Bioinformatics Market: Regional Outlook

The global bioinformatics market is geographically divided into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is expected to hold the largest market share in the global bioinformatics market due to the high adoption of advanced technology and the rise in demand for better bioinformatics tools, which are needed in the drug discovery and development process. Furthermore, Asia Pacific is anticipated to witness the highest CAGR growth in the global market during the review period.

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Key Global Bioinformatics Market Competitors Includes –

The global bioinformatics market is highly fragmented, with a large number of small players across the globe. The vital bioinformatics manufacturers operating in the global market are –

• Agilent Technologies
• Beijing Genomics Institute
• Biomax Informatics AG
• Bruker Daltonics, Inc.
• Eurofins Scientific
• Geneva Bioinformatics
•  IBM Life Sciences
• Illumina
• Life Technologies Corporation
• Perkinelmer, Inc.
• Qiagen Bioinformatics
• Quest Diagnostics, Inc.
•  Rosetta Biosoftware
• SA Nonlinear Dynamics
• Thermo Fisher Scientific

The bioinformatics market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.

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Bioinformatics Market Report Covers Comprehensive Analysis On:

• Market Segmentation & Regional Analysis
• Market Size of 10 years
• Pricing Analysis
• Supply & Demand Analysis
• Product Life Cycle Analysis
• Porter’s Five Forces & Value Chain Analysis
• Developed & Emerging Economies Analysis
• PEST Analysis
• Market and Forecast Factor Analysis
• Market Opportunities, Risks, & Trends
• Conclusion & Recommendation
• Regulatory Landscape
• Patent Analysis
• Competition Landscape
• 15+ Company Profiles

Bioinformatics Market Regional Analysis Includes:

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA

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Bioinformatics Market: Target Audience

• Bioinformatics device manufacturers
• Bioinformatics service providers
• Trade publications and magazines
• Government authorities, associations, and organizations