Reduced costs of DNA sequencing and the rising prevalence of advanced technologies in drug discovery are significant factors driving the bioinformatics services market.
Market size: USD 2.13 billion in 2019
Growth Rate: 11%
Market Trends: Growing government investments in R & D.
The Global Bioinformatics Services Market is projected to attain USD 6.30 billion by 2027 from USD 2.13 billion in 2019 with a substantial CAGR of 11.7%.
Increasing R&D in drug activity and molecular biology, increasing programs by government and non-governmental organizations, increasing applications of bioinformatics, and modified medicines are driving the market demand. The advancement of new technologies in the bioinformatics field and adoption of bioinformatics tools provide data analysis for research projects, drug discovery and drug development.
Reduced costs of DNA sequencing and the rising prevalence of advanced technologies in drug discovery are significant factors driving the bioinformatics services market. Demand for combined data solutions for extensive data management is increasing the need for incorporating bioinformatics services.
Progress in research and development in various fields like transcriptomics, proteomics, genomics, and metabolomics is presumed to enhance data and storage analysis.
The growing number of collaborations between research institutes and manufacturing industries, along with increasing demand for personalized medicines, will fuel the industry growth. However, lack of trained professionals, heavy research and development funding, and lack of awareness are significant restraints on market growth.
North America is dominating the bioinformatics services market as the U.S. is contributing to a precise framework and state-of-the-art technologies. The increasing adoption of personalized medicines, advanced next-generation sequencing and chemical testing centers are significant factors boosting the market growth.
The Asia Pacific region is predicted to expand with the highest growth rate during the analysis period. India, China, and Japan are assumed to dominate the market due to increasing frequency of chronic disorders, use of bioinformatics services in diagnosis and treatments of various diseases. Efforts are being taken by the government to promote and support the sector, along with advanced healthcare facilities, is fueling the market growth.
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Further key findings:
- Bioinformatics services are used to store, retrieve and analyze data. It helps in forming a biological database about innovation and development of a drug.
- Based on service, the sequencing services held the highest market share of around 22% in 2018. Advances in the sequencing tools, including NGS and scripting tools for manipulating sequence, is boosting the market growth.
- The differential gene expression analysis sub-segment accounted for a market share of 16% in 2019, and the database management services sub-segment is predicted to expand with a rate of 11.7% during the projection period.
- Usage of bioinformatics services in agriculture-based industries, product application, and better administration of the environment is aiding the growth of the agricultural sector.
- Transcriptomics is estimated to control the largest share of the bioinformatics services market due to the increasing number of research projects and innovation of new techniques of RNA transcription using bioinformatics.
- Government and private funding firms are providing support to research programs, which is also driving the market growth.
- The Asia Pacific region is forecast to increase with a CAGR of 12.8% during the projected period.
Key participants:
- Qiagen Inc.
- IBM Life Sciences
- Illumina Inc.
- GVK Biosciences
- Nxt-Dx, Biovia (Accelrys Inc)
- Non-Linear Dynamics
- Biomax Informatics AG
- DNAnexus Inc
- Affymretrix Inc.
- Geneva bioinformatics
- Bruker Daltonics
- Life Technologies Corporation
Click on the Link to Read Key Highlights of the Report and Look at Projected Trends for Years to Come: https://www.reportsanddata.com/press-release/global-bioinformatics-services-market
For the purpose of this report, Reports and Data has segmented the Global Bioinformatics Services Market on the basis of service type, application, end-user, and region:
Service Type Outlook (Revenue, USD Billion; 2017-2027)
- Data Analysis Services
- Sequencing Services
- Differential Gene Expression Analysis
- Database Management Services
- Drug Discovery Services
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Transcriptomics
- Genomics
- Drug Discovery
- Metabolomics
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Animal
- Medical
- Agriculture
- Academic Users
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
- US.
Europe
- France
- UK.
Asia Pacific
- Japan
- China
- India
Latin America
- Brazil
Middle East & Africa
To Identify the Key Trends in the Industry, Click on the Link Below: https://www.reportsanddata.com/report-detail/bioinformatics-services-market
Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Bioinformatics Services Market Segmentation & Impact Analysis
4.1. Bioinformatics Services Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing application of technology in drug discovery
4.2.2.2. Decrease in cost of DNA sequencing
4.2.2.3. Increase investment by government and private organizations
4.2.2.4. Demand by manufacturers for large scale data management
4.2.3. Market restraints analysis
4.2.3.1. Dearth of skilled professionals
4.2.3.2. Lack of integrated technology
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continued………..
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