|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The bioinformatics market was valued at approximately USD 9,665 million in 2020, and it is expected to reach USD 19,125 million by 2026, registering a CAGR of nearly 10.9% during the forecast period, 2021-2026.
During the pandemic, sequencing and analyzing the data can be a valuable tool for the characterization and detection of viruses in the environment, animals, and human beings. Information related to transmission chains is critical for public health control and containment measures, while knowledge of virus variability can guide the development of vaccines and cheaper diagnostic methods.
For instance, in March 2020, the UK government launched a new alliance called COVID-19 Genomics UK Consortium (COG-UK) to sequence the genomes of SARS-CoV-2 with whole-genome sequencing (WGS), the virus responsible for the current COVID-19 pandemic with an investment of EUR 20 million. The COVID-19 Genomics UK Consortium (COG-UK) is comprised of the NHS, Public Health Agencies, the Wellcome Sanger Institute, and several academic institutions. These factors are likely to boost the market for bioinformatics over the forecast period.
The growth factors for the bioinformatics market include the rising demand for nucleic acid and protein sequencing, rising initiatives from private and government organizations, accelerating growth of proteomics and genomics, and rising research on molecular biology and drug discovery. Owing to the above factors, the global bioinformatics market is expected to experience rapid growth during the forecast period.
Bioinformatics is gaining importance, as huge amounts of data created through techniques like protein and nucleic acid sequencing require data interpretation and management for medical purposes and future research. Thus, the rising demand is expected to drive the bioinformatics market during the forecast period.
Additionally, the introduction of technologically advanced bioinformatics software such as BALL, Bioclipse, RasMol, and AUTODOCK and rising market usage of these tools for effective and accurate analysis of biomarkers discovery programs that assist in toxicity detection during the initial stage of the drug development process are expected to boost the industry growth over the upcoming years.
Furthermore, the demand for computational epigenetics, a meta-analysis of microarray data, differentially expressed genes, gene network, systems biology requirements, and gene-associating studies, among others, have had a major impact on the growth of the bioinformatics market. However, the lack of well-defined standards and common data formats for integration of data and data complexity concerns and lack of user-friendly tools are likely to hamper the market growth over the forecast period.
Scope of the Report
As per the scope of the report, bioinformatics is the application of computational technology to gather, store, analyze, and integrate biological data. This data is used to procure information and is applied to gene-based drug discovery and development, protein structure studies, and the determination of the therapeutic efficacy of drugs. The bioinformatics market is segmented by products and services (knowledge management tools, bioinformatics platform, and bioinformatics services), application (microbial genome, gene engineering, drug development, personalized medicine, omics, and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|By Products and Services|
|Knowledge Management Tools|
Key Market Trends
The Personalized Medicine Segment is Expected to Grow the Fastest During the Forecast Period And Expected To Follow The Same Trend Over Forecast Period
Amid the current pandemic, personalized medicine is advancing at a breakneck speed. The healthcare industry is focused on conducting personalized medicine and genomics research to better understand COVID-19 susceptibility, measure its impact, and discover potential therapies.
Personalized medicine has increased collaborative efforts between medical institutions, governments, and researchers to swiftly develop effective treatments. For instance, in 2020, Summit Biolabs Inc. and the Colorado Center for Personalized Medicine (CCPM) entered a broad strategic partnership for conducting research, development, and commercialization of saliva liquid-biopsy tests for early cancer detection and diagnosis of COVID-19 and other viral contagions.
Developments in systems biology and pharmacogenomics have helped personalized medicine to transit from disease-centered and reductionism-based medical practice to system-based, integrative, and human-centered care.
Personalized medicine generates a strong impetus for scaling up the companion diagnostics tests to form personalized medicine for non-oncology cases. The rising prevalence of cancer, which boosts demand for personalized cancer therapeutics and diagnostics, is also one of the key factors responsible for the growth of the market. As per data from GLOBOCAN 2020, the global burden of cancer increased to 19.3 million cases in 2020. Growing cancer-related spending is also among the drivers for segmental growth.
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Europe Witnessed the Fastest Growth and is Expected to Follow the Same Trend over the Forecast Period
The outbreak of COVID-19 had an impact on the European bioinformatics market because healthcare services were significantly reduced due to social distancing measures taken by several governments across the globe. Government organizations in various countries, research institutes, and many biotech and pharmaceutical firms are focusing their resources on novel technologies for faster and accurate diagnosis of COVID-19. There is also immense research and work going on aimed at developing the vaccines, and these R&D workflows utilize sequencing technologies extensively.
In March 2020, the UK government launched a new alliance called COVID-19 Genomics UK Consortium (COG-UK) to sequence the genomes of SARS-CoV-2, the virus responsible for the current COVID-19 pandemic, with whole-genome sequencing (WGS) with an investment of EUR 20 million. The COVID-19 Genomics UK Consortium (COG-UK) is comprised of the NHS, Public Health Agencies, the Wellcome Sanger Institute, and several academic institutions. This has a positive impact on the regional market growth.
A large number of healthcare investments in the European region are expected to drive the bioinformatics market. Furthermore, the high adoption of IoT technologies in this sector is expected to impact the market growth in the region positively. Key countries, including the United Kingdom, France, and Italy, are expected to propel the bioinformatics market in this region mainly.
Several companies are partnering and acquiring to strengthen their positions in the market. For example, in 2019, Labfolder GmbH and cubuslab GmbH merged to develop a platform for the integration of laboratory equipment and laboratory software control. These mergers are promoting the market growth. In addition, in 2019, TrialScope launched a clinical trials website for EMD Serono. Owing to these factors, the Europe bioinformatics market is expected to experience a boost during the forecast period.
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Many pharmaceutical companies are minimizing drug discovery budgets, as they are shifting their focus from outsourcing the software to developing in-house tools, thus allowing them to customize their required applications to meet their needs and increase workflow efficiency. The major global players in the bioinformatics market include Illumina, Thermo Fisher Scientific, and Agilent Technologies, among others.
In January 2021, Illumina launched the Pan-Cancer IVD Test, Cloud-Based Bioinformatics Platform.
In April 2020, HealthCare Global Enterprises and Strand Life Sciences introduced the StrandAdvantage500, a Next-Generation Sequencing (NGS) based assay that analyzes cancer-relevant genetic alterations from DNA and RNA derived from a patient’s tumor in one integrated workflow.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Nucleic Acid and Protein Sequencing
4.2.2 Increasing Initiatives from Governments and Private Organizations
4.2.3 Accelerating Growth of Proteomics and Genomics
4.2.4 Increasing Research on Molecular Biology and Drug Discovery
4.3 Market Restraints
4.3.1 Lack of Well-defined Standards and Common Data Formats for Integration of Data
4.3.2 Data Complexity Concerns and Lack of User-friendly Tools
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Products and Services
5.1.1 Knowledge Management Tools
5.1.2 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
5.1.3 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
5.2 By Application
5.2.1 Microbial Genome
5.2.2 Gene Engineering
5.2.3 Drug Development
5.2.5 Personalized Medicine
5.2.6 Other Applications
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 3rd Millennium Inc.
6.1.4 Agilent Technologies
6.1.5 BioWisdom Ltd
6.1.6 Celera Corporation
6.1.7 Dassault Systèmes
6.1.9 Geneva Bioinformatics SA
6.1.10 Illumina Inc.
6.1.11 Lineage Cell Therapeutics (BioTime Inc.)
6.1.14 Qiagen NV
6.1.15 Rosetta Biosoftware
6.1.16 Thermo Fischer Scientific (Life Technologies)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Bioinformatics Market market is studied from 2018 - 2026.
What is the growth rate of Global Bioinformatics Market?
The Global Bioinformatics Market is growing at a CAGR of 10.9% over the next 5 years.
What is Global Bioinformatics Market size in 2018?
The Global Bioinformatics Market is valued at 9665 Million USD in 2018.
What is Global Bioinformatics Market size in 2026?
The Global Bioinformatics Market is valued at 19125 Million USD in 2026.
Which region has highest growth rate in Global Bioinformatics Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Bioinformatics Market?
North America holds highest share in 2020.
Who are the key players in Global Bioinformatics Market?
Illumina Inc., Thermo Fischer Scientific, Qiagen NV, PerkinElmer, Agilent Technologies are the major companies operating in Global Bioinformatics Market.