The Bioinformatics Market is projected to reach $27.98 billion by 2030, at a CAGR of 13.3% from 2023 to 2030. Bioinformatics tools are required to collect, organize, and interpret biological data. Due to the substantial increase in data volume generated by genomics research, there is a growing need for bioinformatics and computational skills to analyze, interpret, manage, and store this data effectively. Additionally, the growing amount of genomics and omics-related data generated from various research drives the demand for chemoinformatics and genome informatics.
The growth of this market is attributed to the growth of the biotech and pharmaceutical industries, initiatives supporting genomics research, and the rising need to develop novel drugs/drug molecules. However, interoperability limitations in bioinformatics platforms due to multiple data types restrain the growth of this market. Furthermore, growing clinical applications of genomic technologies and the increasing use of bioinformatics in agriculture are expected to generate growth opportunities for the players operating in this market. However, data privacy and confidentiality concerns and the shortage of skilled bioinformaticians are major challenges for market stakeholders.
Growth of the Biotech and Pharma Industries to Drive the Market
The demand for biopharmaceuticals is increasing globally. Biotech companies are focused on expanding their production capacities and capabilities to meet the increasing demand and develop new biopharmaceuticals. For instance, in April 2022, FUJIFILM Diosynth Biotechnologies (U.S.) expanded its BioProcess Innovation Center in Research Triangle Park (U.S.), with plans to equip the facility with analytical instrumentation, high-throughput bioprocessing equipment, and automation technologies. Earlier, in March 2022, Amgen, Inc. (U.S.) announced the establishment of a biomanufacturing facility in North Carolina (U.S.). The facility is expected to be operational by 2025.
Bioinformatics platforms have many applications in biotechnology, including automatic genome sequencing, prediction of gene function and protein structure vaccine designing, phylogeny, gene identification, understanding gene and genome complexity, and protein structure, functionality, and folding. Biotechnology companies use bioinformatics services for genomics, proteomics, transcriptomics, and forensic sciences, among other applications.
Similarly, pharmaceutical companies use bioinformatics solutions throughout the drug discovery and development process. Identifying the drug target is a crucial step in the creation of new drugs. It requires the analysis of gene sequences, protein-protein interactions, and metabolic pathways to be performed using bioinformatics solutions. Drug targets and leads are also validated using bioinformatics tools by analyzing gene data and comparing gene expression data from untreated models and models treated with the identified lead. Moreover, biological data management solutions are used for analyzing the data generated from preclinical and clinical trials as the amount of data generated is huge, and the integration of this generated biological data is necessary for the interpretation of results.
Growing Use of Bioinformatics in Agriculture Provides Opportunities for the Players Operating in the Market
Plant genomics research is often aimed at reducing the costs associated with producing crops, improving the safety and quality of the food supply, developing superior processing abilities, and enhancing the effectiveness and efficiency of plant breeding practices. These research studies aim to improve plant resistance to biotic and abiotic stress and increase the nutritional quality of plants.
The global population is increasing rapidly; however, agricultural output is decreasing due to environmental factors. Advancements in genomics and genetics are enabling researchers to study the effects of environmental factors on the genotypic and phenotypic traits of crops and livestock. Moreover, there is a need for improved seed and crop strains that are climate, disease, biotic, and abiotic stress-resistant and provide higher yields and better nutrition, which can be fulfilled by genetically engineering seeds and plants. Genomic research on plants generates vast amounts of data. Genome informatics are used to accurately analyze and interpret this data. Additionally, biological data management solutions are also used for gene discovery, enabling researchers to develop methods to improve seed quality and incorporate added micronutrients in the plants, benefiting human health.
Key Findings of the Global Bioinformatics Market Study:
The Knowledge Management Software Segment to Dominate the Bioinformatics Market in 2023 With a Share of 43%
Expanding genomic datasets, growing adoption of precision medicine, growing investments in pharmaceutical R&D, and growing research in the application of genomics for several fields, including agriculture, clinical decision-making, and predictive medicine, support a large share of the segment.
The explosion of genomic, omics, and clinical data has created a need for knowledge management solutions, including biological data management tools and platforms. These solutions integrate diverse data sources, including genomic sequences, experimental results, clinical records, and references from scientific literature, resulting in an integrated and accessible format for efficient data handling, organization, and analysis.
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The Genomics Segment to Account for the Largest Market Share in 2023 with a Share of 44%
The factors contributing to the segment’s large share are the growing amount of genomics data being generated, the application of genomics in chronic disease management, and the growing prevalence of chronic diseases. A substantial amount of genomic data is generated every year due to advancements in sequencing technologies and research initiatives. For instance, according to the National Human Genome Research Institute (U.S.), around 40 exabytes of storage will be required to store the genome-sequence data generated worldwide by 2025. The data leads to more information about genetics to researchers, however, it also presents several challenges in terms of data storage, processing, analysis, and interpretation. This generates a demand for genome informatics to process, analyze, and interpret large amounts of genomic data.
Healthcare Segment to Account for the Largest Market Share in 2023
This segment's large market share is attributed to the wide applications of bioinformatics in the biotechnology and pharmaceutical industry, the growth of the pharmaceutical and biotech industry, and supportive initiatives for the growth of pharmaceutical and biotech companies. The rapid expansion and initiatives such as investments and provision of grants and funds to pharmaceutical and biotechnology companies for the manufacture and R&D of biopharmaceuticals are leading in demand for bioinformatics solutions. For instance, in November 2021, Medical Research Agency (Poland) announced government funding of USD 73.3 million (PLN 300 million) for producing vaccines based on mRNA technology in Poland.
U.S. and China Among the Largest Share holding Countries
In 2023, the U.S. is expected to dominate the bioinformatics market, followed by China. The U.S. is the world's largest scientific research base, attracting the majority of global venture capital investments in the biotechnology industry. There is a high availability of government funding for various research activities, robust capital markets, and strong academic research in the country. For instance, according to the Massachusetts Biotechnology Council (MassBio), in the first six months of 2022, around USD 5 billion was invested by venture capitalists in biotech companies headquartered in Massachusetts, U.S. Owing to the high R&D expenditure, laboratories are equipped with bioinformatics to analyze and interpret the large amount of biological data generated.
Key Players
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presence, and key strategic developments adopted by leading market players in this market in the last three to four years. The key players profiled in the bioinformatics market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Dassault Systèmes SE (France), Eurofins Genomic LLC (Germany), Revvity, Inc. (U.S.), Azenta, Inc. (U.S.), and DNAnexus, Inc. (U.S.). The global bioinformatics market is fragmented in nature, and some of the global players are Thermo Fisher Scientific Inc. (U.S.), Eurofins Genomic LLC (Germany), Revvity, Inc. (U.S.), Agilent Technologies, Inc. (U.S), F. Hoffmann–La Roche Ltd. (Switzerland), Illumina, Inc. (U.S.), and Qiagen N.V. (Netherlands). In 2022, these players collectively accounted for a share of 24%-32% of the bioinformatics market.
Report Summary:
Particular
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Details
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Page No
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198
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Format
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PDF
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Forecast Period
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2023-2030
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Base Year
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2022
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CAGR
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13.3%
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2030 Market Size (Value)
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$27.98 billion
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Segments Covered
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By Solutions & Services
- Knowledge Management Software
- Bioinformatics Platforms
- Sequence Analysis & Alignment Platforms
- Functional & Structural Analysis Platforms
- Other Bioinformatic Platforms
(Note: Other bioinformatic platforms include Pathway Analysis, Network Analysis, Phylogenetic Analysis, Data Visualization, Among others)
- Services
- Data Storage and Database Management Services
- Data Analysis Services
By Application
- Genomics
- Chemoinformatics
- Proteomics
- Transcriptomics
- Metabolomics
- Other Applications
(Note: Other applications include system biology and computational biology, among others)
By Industry
- Healthcare
- Agriculture
- Veterinary
- Other Industries
(Note: Other industries include environmental sciences, forensics sciences, and energy, among others)
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Countries Covered
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North America (U.S., Canada), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LATAM), Middle East & Africa
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Key Companies
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Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Dassault Systèmes SE (France), Eurofins Genomic LLC (Germany), Revvity, Inc. (U.S.), Azenta, Inc. (U.S.), and DNAnexus, Inc. (U.S.)
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Key Questions Answered in the Report: