The global bioinformatics market is predicted to grow at a 19.8% CAGR over the forecast period (2013-2022), as per the latest Market Research Future (MRFR) report. Bioinformatics includes the integration of databases, software tools, and computers for addressing biological questions. Two vital large-scale activities which use bioinformatics include proteomics and genomics. Bioinformatics has several other applications in biology and medicine, including forensic analysis of microbes, biotechnology, drug developments, gene therapy, preventive medicines, and molecular medicines.
Bioinformatics has proven in having extreme potential in identifying diseases beforehand, determining treatment, and helping in making human lives better. Through the knowledge and inspiration of computer science, various fields including healthcare, medicine, and gene technology can evolve by curing patients to healing the entire population.
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Various factors are propelling the bioinformatics market growth. These factors, as per the MRFR report, include increasing demand for protein sequencing and nucleic acid, initiatives from private organizations and government, and rising applications of bioinformatics. Additional factors boosting market growth include increasing need for integrated data, drug discovery, and the rising number of collaborations amongst research institutes and companies.
On the contrary, lack of user-friendly tools at affordable prices, common data formats, and lack of skilled personnel are factors that may impede the bioinformatics market growth over the forecast period.
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the bioinformatics market based on sector, services and technology, and application.
By application, the bioinformatics market is segmented into DNA sequences, molecular phylogenetics, metabolomics, proteomics, transcriptomics, drug design, genomics, chemoinformatics, and others. Of this, the genomics segment will have the largest share in the market over the forecast period. This is owing to its rising application in preventive and personalized medicine.
By services and technology, the bioinformatics market is segmented into sequence manipulation, data warehousing, sequence analysis, among others.
By sector, the bioinformatics market is segmented into agriculture bioinformatics, medical bioinformatics, animal informatics, and others. Of these, the medical bioinformatics segment will dominate the market over the forecast period. This is on account of the increasing adoption of bioinformatics in clinical and pharma applications.
Regional Analysis
Based on the region, the bioinformatics market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, the Americas, and the Middle East and Africa (MEA). Of these, the Americas will remain at the forefront in the market over the forecast period. This is owing to technological advancements, rising research funding, presence of several research institutes and market players in the region, and its burgeoning demand across proteomics and genomics research. The United States and Canada are the key contributors in this region.
The bioinformatics market in Europe is predicted to have the second-largest share over the forecast period owing to its growing demand in various end use industries.
The bioinformatics market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to its rising assistance in the development of new medicines and clinical diagnostics, and increasing government initiatives to develop integrated bioinformatics systems in the region’s emerging economies.
Key Players
Leading players profiled in the bioinformatics market report include QIAGEN, Dassault Systèmes, Thermo Fisher Scientific Inc., QIAGEN N. V, Illumina, Inc., and Agilent Technologies, among others. Key players have used various strategies to create a niche in the market such as expansions, mergers and acquisitions, partnerships, product launch and innovation, and more.
July 2019: NEC has acquired Oncolmmuniity, a leading Norwegian bioinformatics firm. Oncolmmuniity has made a personalized cancer medicine platform known as ImmuneProfiler. It applies machine learning into next-generation sequencing data for predicting the immunogenic neoantigens in cancer patients, which can act as immunotherapy biomarkers and therapeutic targets. This acquisition is likely to offer promising avenues which can result in better cancer treatments and also bolster NEC’s cancer immunotherapy development programs that was formally unveiled in May. NEC is focusing on neoantigen vaccines for the head, neck, and ovarian cancer in collaboration with Transgene.
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