Bioinformatics Market Overview
The Bioinformatics market was valued at USD 7305.82 million in 2017, is expected to register a CAGR of about 20.75% during the forecast period, 2018-2023. Bioinformatics is the application of computational technology to gather, store, analyze, and integrate biological data. This data is used to procure information that can be applied to gene-based drug discovery and development, protein structure studies, and the determination of the therapeutic efficacy of drugs. Increasing demand for nucleic acid and protein sequencing, increasing initiatives from governments and private organizations, accelerating growth of proteomics and genomics, and increasing research on molecular biology and drug discovery are the major factors which are leading to the growth of the market. However, lack of well-defined standards and common data formats for integration of data, and data complexity concerns and lack of user-friendly tools are hindering the market growth.
Accelerating Growth of Proteomics and Genomics Propels the Growth of Bioinformatics Market
With the completion of the Human Genome Project (in 2001) and the Human Proteome Project, a vast amount of data has generated, which has given a new dimension to the profiling of proteomic and genomic analyses. The data generated, out of these projects, has driven the growth of the global bioinformatics market, due to the growing demand for tools and platforms for data management, data retrieval, sequence alignment, structure prediction, and other bioinformatics applications. This data has become the new face of drug discovery and biological research in the past few years. Proteomics and genomics have made the maximum contribution to the areas of process development of recombinant protein production, genome-wide expression profiling tools, identification of disease-vulnerable population, and drug design.
Other factors driving the market include increasing government spending and rise in R&D initiatives.
Data Complexity Concerns and Lack of User-Friendly Tools Hinder the Growth of Bioinformatics Market
A large amount of genomic and proteomic data, generated through various sequencing and structure prediction methods, are highly complex. The complexity of the generated data ranges from missing values to excess unwanted information. Data dissemination has been a major challenge for the growth of the bioinformatics market. Immense studies in protein-protein interactions, multi-resolution structure prediction, and molecular dynamics simulation with quantum chemical forces have fostered the development of probabilistic models and algorithms, which are required for the analysis of those studies. However, the techniques and tools that are being developed are comparatively not in pace with bulk of the data that is being generated through various sequencing projects. This factor is restraining the growth of the bioinformatics market.
Reimbursement hurdles for the manufacturer and high-capital investment are also restraining the market growth.
Market Segmentation Insights for the Bioinformatics Market
The global bioinformatics market is segmented on the basis of products & services, application, end user, and geography.
The products & services segmentation comprises of knowledge management tool, bioinformatics platform, bioinformatics services. The bioinformatics platform includes sequence analysis platform, sequence alignment platform, sequence manipulation platform, structural and functional analysis platform, and other bioinformatics platforms. The bioinformatics services further include sequencing services, database and management services, data analysis, and other bioinformatics services. The knowledge management tool held 40% market share in 2017.
By Application, the market is segmented into the microbial genome, gene engineering, drug development, personalized medicine, omics, others. The drug development segment held the largest market share in 2017.
The end user segment includes pharmaceutical, animal study, agriculture, forensic science, and others.
North America to Dominate the Bioinformatics Market
The bioinformatics market has been segmented on the basis of technology, application, end user, and geography. By geography, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Owing to the factors, like the growing demand for bioinformatics across genomics and proteomics research, technological advancements, increasing research funding, and the presence of a large number of market players and research institutes in the region, North America dominates the global bioinformatics market.
Key Developments in the Bioinformatics Market
- January 2018: Thermo Fisher Scientific introduced Ion GeneStudio S5 Series, a line of highly versatile next-generation sequencers.
- November 2017: Biomillenia collaborated with QIAGEN for the use of QIAGEN's Microbial Genomics Pro Suite, in order to generate next-generation sequence data on microbes identified using Biomillenia's proprietary microbiome-on-a-chip technology.
- August 2016: Agilent Technologies and Eurofins Genomics collaborated to expand SureVector cloning system
- January 2016: PerkinElmer had a strategic collaboration with Attivio to launch a new solution in the PerkinElmer Signals™ data discovery platform.
The major companies include AGILENT TECHNOLOGIES, AFFYMETRIX, ILLUMINA, QIAGEN, PERKINELMER, ACCELRYS, INC., AND GENEVA BIOINFORMATICS SA, among others.
Bioinformatics Market Segmentation
Bioinformatics Market by Products & Services
- Knowledge Management Tool
- Bioinformatics Platform
- Sequence Analysis Platform
- Sequence Alignment Platform
- Sequence Manipulation Platform
- Structural and Functional Analysis Platform
- Other Bioinformatics Platforms
- Bioinformatics Services
- Sequencing Services
- Database and Management Services
- Data Analysis
- Other Bioinformatics Services
- Bioinformatics Platform
Bioinformatics Market by Application
- Microbial Genome
- Gene Engineering
- Drug Development
- Personalized Medicine
Bioinformatics Market by End User
- Animal Study
- Forensic science
Bioinformatics Market by Region
- North America
- Asia Pacific
- South Korea
- Middle East and Africa
- South Africa
- South America
Country-Level Data Points Coverage and Deliverables for Bioinformatics Market
Bioinformatics Market Report Summary
(2015 – 2023)
By products & services (knowledge management tool, bioinformatics platform, bioinformatics services),
By application (microbial genome, gene engineering, drug development, personalized medicine, omics, others),
By end user (pharmaceutical, animal study, agriculture, forensic science, others)
North America (US, Canada, Mexico), Europe (UK, Germany, France, Italy Spain, Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa and Rest of MEA) and South America (Brazil, Argentina and Rest of South America)
January 2018: Thermo Fisher Scientific introduced Ion GeneStudio S5 Series, a line of highly versatile next-generation sequencers.
November 2017: Biomillenia collaborated with QIAGEN for the use of QIAGEN's Microbial Genomics Pro Suite, in order to generate next-generation sequence data on microbes identified using Biomillenia's proprietary microbiome-on-a-chip technology.
August 2016: Agilent Technologies and Eurofins Genomics collaborated to expand SureVector cloning system
January 2016: PerkinElmer had a strategic collaboration with Attivio to launch a new solution in the PerkinElmer Signals™ data discovery platform.
AGILENT TECHNOLOGIES, AFFYMETRIX, ILLUMINA, QIAGEN, PERKINELMER, ACCELRYS, INC., AND GENEVA BIOINFORMATICS SA, among others
Bioinformatics Market offers latest trends, growth prospects, industry competitiveness, major players, regional share of market and forecast to 2023.
Reasons to Purchase the Bioinformatics Market Report
- Current and future of Bioinformatics market outlook in the developed and emerging markets
- Analysis of various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the market estimate sheet (in Excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Bioinformatics Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Bioinformatics Market Drivers
6.1.1 Increasing Demand for Nucleic Acid and Protein Sequencing
6.1.2 Increasing Initiatives From Governments and Private Organizations
6.1.3 Accelerating Growth of Proteomics and Genomics
6.1.4 Increasing Research on Molecular Biology and Drug Discovery
6.2 Bioinformatics Market Restraints
6.2.1 Lack of Well-defined Standards and Common Data Formats for Integration of Data
6.2.2 Data Complexity Concerns and Lack of User-friendly Tools
6.3 Bioinformatics Market Opportunities
6.4 Bioinformatics Market Key Challenges
7. Market Segmentation
7.1 Bioinformatics Market By Products and Services
7.1.1 Knowledge Management Tool
7.1.2 Bioinformatics Platform
126.96.36.199 Sequence Analysis Platform
188.8.131.52 Sequence Alignment Platform
184.108.40.206 Sequence Manipulation Platform
220.127.116.11 Structural and Functional Analysis Platform
18.104.22.168 Other Bioinformatics Platforms
7.1.3 Bioinformatics Services
22.214.171.124 Sequencing Services
126.96.36.199 Database and Management Services
188.8.131.52 Data Analysis
184.108.40.206 Other Bioinformatics Services
7.2 Bioinformatics Market By Application
7.2.1 Microbial Genome
7.2.2 Gene Engineering
7.2.3 Drug Development
7.2.4 Personalized Medicine
7.3 Bioinformatics Market By End User
7.3.2 Animal Study
7.3.4 Forensic science
7.4 Bioinformatics Market By Geography
7.4.1 North America Bioinformatics Market Size (2018-2023)
220.127.116.11 United States Bioinformatics Market Size (2018-2023)
18.104.22.168 Canada Bioinformatics Market Size (2018-2023)
22.214.171.124 Mexico Bioinformatics Market Size (2018-2023)
7.4.2 Europe Bioinformatics Market Size (2018-2023)
126.96.36.199 France Bioinformatics Market Size (2018-2023)
188.8.131.52 Germany Bioinformatics Market Size (2018-2023)
184.108.40.206 United Kingdom Bioinformatics Market Size (2018-2023)
220.127.116.11 Italy Bioinformatics Market Size (2018-2023)
18.104.22.168 Spain Bioinformatics Market Size (2018-2023)
22.214.171.124 Rest of Europe
7.4.3 Asia-Pacific Bioinformatics Market Size (2018-2023)
126.96.36.199 China Bioinformatics Market Size (2018-2023)
188.8.131.52 Japan Bioinformatics Market Size (2018-2023)
184.108.40.206 India Bioinformatics Market Size (2018-2023)
220.127.116.11 Australia Bioinformatics Market Size (2018-2023)
18.104.22.168 South Korea Bioinformatics Market Size (2018-2023)
22.214.171.124 Rest of Asia-Pacific
7.4.4 Middle East & Africa Bioinformatics Market Size (2018-2023)
126.96.36.199 GCC Bioinformatics Market Size (2018-2023)
188.8.131.52 South Africa Bioinformatics Market Size (2018-2023)
184.108.40.206 Rest of Middle East & Africa
7.4.5 South America Bioinformatics Market Size (2018-2023)
220.127.116.11 Brazil Bioinformatics Market Size (2018-2023)
18.104.22.168 Argentina Bioinformatics Market Size (2018-2023)
22.214.171.124 Rest of South America
8. Bioinformatics Market Competitive Landscape
8.1 Mergers and Acquisitions Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Bioinformatics Market Key Players
9.1 Illumina Inc.
9.2 Life Technologies (Thermo Fischer Scientific)
9.3 Qiagen NV
9.4 Agilent Technologies
9.7 Accelrys Inc.
9.8 Geneva Bioinformatics SA
9.11 Biotime Inc. (Life Map Sciences)
*List not Exhaustive
10. Future of the Market