Bioinformatics Market Overview and Introduction

The global bioinformatics market is estimated to be over US$ 6.5 Billion in 2018. It is anticipated to grow at a CAGR of 14.0% from 2019 to 2030.

Bioinformatics is an interdisciplinary branch of science, which deals with the data storage, retrieval, analysis and additionally data curation. It is an amalgamation of genetics, mathematics, biophysics, molecular biology, computer science, genetics and statistics among others. Bioinformatics, finds its application in the sectors of microbial genomics, molecular medicine, personalized medicine, preventive medicine, and gene therapy among others. Bioinformatics is used to generate numerous large data sets to address several complex biological problems from a computational viewpoint. Genomics and proteomics are the two of the major fields that utilize the application of bioinformatics.

The global bioinformatics market is driven by increasing demand for protein sequencing, nucleic acid sequencing and DNA sequencing among others. Moreover, rising applications of bioinformatics in clinical diagnostics, drug discovery and personalized medicine have been pivotal in contributing to the extensive growth of the global bioinformatics market. However, lack of well-defined standards and common formats for data integration may restrain market growth to a certain extent.

Bioinformatics Market by Product & Services

On the basis of product & services the market can be segmented into knowledge management tools, bioinformatics platforms, and bioinformatics services. The segment of knowledge management tools can be further segmented into specialized knowledge management tools and generalized knowledge management tools. The segment of bioinformatics platform can further be segmented into structural & functional analysis platforms, data analysis platforms and other bioinformatics platforms. Similarly, the segment of bioinformatics services can be segmented into database management services, data analysis services and other bioinformatics services. The segment of knowledge management tools was estimated to account for the largest market share in 2018, owing to increasing use of these platforms for drug designing and development.

Bioinformatics Market by Applications

On the basis of applications, the global bioinformatics market is divided into chemoinformatics & drug design, genomics, proteomics, metabolomics transcriptomics and other applications. In terms of revenue, the genomics segmented accounted for the largest share in 2018, attributing to increasing applications of genomics for fabrication of preventive and personalized medicines.

Bioinformatics Market by Sector

On the basis of sector, the global market is divided into animal biotechnology, academics, medical biotechnology, agricultural biotechnology, forensic biotechnology environmental biotechnology and other sectors. The segment of medical biotechnology is further segmented into clinical diagnostics & personalized medicine, drug discovery & development and reproductive health. In 2018, the medical biotechnology segment was estimated to account for the largest share in the global bioinformatics market. The growing demand of bioinformatics tools for clinical and pharma applications are considered to be few of the major factors attributing to the growth of this segment.

Bioinformatics Market by Regions

The global bioinformatics market can be segmented into North America, Asia Pacific, Europe, and Rest of World (ROW). North America dominated the market of bioinformatics, followed by Asia Pacific and Europe. North America will continue to dominate the global bioinformatics market in the forecast period, owing to factors such as rising adoption of bioinformatics tools in pharma and clinical application, highly advanced research infrastructure and growing focus on drug discovery and development among others. However Asia Pacific is expected to witness the highest CAGR with the growth in this market centered at China, Japan and India. Factors such as increasing research funding, improved IT infrastructure, growing economy and favorable government regulations can be attributed to the extensive growth of the bioinformatics market in this region.

Bioinformatics Market Prominent Players

The prominent players in the global bioinformatics market are Thermo Fisher Scientific, Illumina Inc , Agilent Technologies, QIAGEN , BGI, Wuxi NextCODE , Eurofins Scientific , Waters Corporation , Sophia Genetics, Partek and DNASTAR among others.