The Global Bioinformatics Market is a dynamic industry that uses the power of data analysis and computational techniques to advance the life sciences. The area prioritizes research and development, and it has a strong infrastructure and a skilled workforce that help this market grow. Bioinformatics is essential to genomics, proteomics, drug discovery, and personalized medicine because it enables researchers and scientists to quickly and efficiently gain valuable insights from large amounts of complex biological data.
According to Data Bridge Market Research, the global bioinformatics market will grow at a CAGR of 18.9% during the forecast period of 2022 to 2029.
"Next-generation sequencing (NGS) technologies surge market demand"
Enabling quick and affordable DNA sequencing, Next-Generation Sequencing (NGS) technologies have significantly advanced genomics research. However, sophisticated bioinformatics tools are needed to process, analyze, and interpret the enormous amounts of raw data generated by NGS. In order to manage these enormous datasets, identify genetic variations, analyze gene expression profiles, and comprehend complex biological phenomena, bioinformatics is essential. The demand for bioinformatics solutions to mine the growing adoption of NGS technologies has fueled the vast amounts of genomic data generated.
What restraints the growth of the global bioinformatics market?
"Rise in the cost of instrumentation can impede the market growth”
The rising cost of bioinformatics instruments and equipment poses a challenge for smaller research institutions and organizations. These high expenses can restrict their ability to invest in advanced technologies and state-of-the-art equipment required for bioinformatics research. Limited access to cutting-edge tools may hinder their competitiveness and research capabilities, potentially impeding their contributions to scientific advancements and breakthroughs in the field of bioinformatics. Finding cost-effective solutions or exploring collaborations with larger institutions could help mitigate this barrier and foster greater accessibility to advanced bioinformatics technologies.
Segmentation: Global Bioinformatics Market
The Global bioinformatics market is segmented on the basis of type, sector, application, purchase mode, genomics, and end user.
- On the basis of type, the global bioinformatics market is segmented into knowledge management tools, bioinformatics software, and services.
- On the basis of sector, the global bioinformatics market is segmented into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology, and others.
- On the basis of application, the global bioinformatics market is segmented into genomics and drug development, proteomics, evolutionary studies, agricultural studies, veterinary science, Metabolomics, transcriptomics, and others.
- On the basis of purchase mode, the global bioinformatics market is segmented into group purchases and individual purchases.
- On the basis of method, the global bioinformatics market is segmented into genomics and proteomics.
- On the basis of end-user, the global bioinformatics market is segmented into research and academic institutes, clinical research organizations, biotech and pharmaceutical companies, research laboratories, hospitals, and others.
Regional Insights: North America is expected to dominate the Global Bioinformatics Market
North America's dominance in the market is driven by various factors. The region experiences a significant rise in chronic diseases, prompting increased demand for advanced healthcare solutions and pharmaceuticals. North America invests heavily in research and development, particularly in bioinformatics software and drug development, fostering innovation and cutting-edge technologies. This emphasis on research and advanced healthcare capabilities positions North America at the forefront of the market, serving as a major contributor to its dominance in the pharmaceutical and bioinformatics sectors.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-bioinformatics-market
Recent Developments in Global Bioinformatics Market
- In 2022, Thermo Fisher Scientific Inc introduced The CE-IVD Marked Next-Generation Sequencing (NGS) Instrument for Use in Clinical Labs. On a single instrument, the CE-IVD Marked Next-Generation Sequencing Instrument is used for both clinical research and diagnostic testing. The instrument's release led to the distribution of the NGS instrument and the addition of a new product to the product line, both of which are anticipated to boost product sales.
The Prominent Key Players Operating in the Global Bioinformatics Market Include:
- Thermo Fisher Scientific Inc. (U.S.)
- Illumina, Inc. (U.S.)
- Agilent Technologies, Inc. (U.S.)
- QIAGEN (Germany)
- SOPHiA GENETICS (Switzerland)
- BGI (China)
- Eurofins Scientific (Luxembourg)
- Waters Corporation (U.S.)
- Partek Incorporated (U.S.)
- DNASTAR (U.S.)
- Dassault Systèmes (France)
- Bayer AG (Germany)
- DNANEXUS, INC. (U.S.)
- PerkinElmer Inc. (U.S.)
- Seven Bridges Genomics (U.S.)
- Quest Diagnostics Incorporated (U.S.)
- AstridBio Technologies Inc. (U.S.)
- BioBam (Spain)
- GenoFAB, Inc. (U.S.)
Above are the key playerSs covered in the report, to know about more and exhaustive list of global bioinformatics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Bioinformatics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
