Allied Market Research published a report, titled, “Bioinformatics Market by Technology & Services (Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services), Application (Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics, and Others), and Sector (Medical Bioinformatics, Animal Bioinformatics, Agriculture Bioinformatics, Academics, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global bioinformatics industry generated $8.61 billion in 2019, and is projected to reach $24.73 billion by 2027, witnessing a CAGR of 13.4% from 2020 to 2027.
Which market holds the maximum market share of the Global Bioinformatics market?
Based on technology & services, the Bioinformatics Platforms segment held a major share in the Global Bioinformatics market in 2019 and is expected to continue the trend in the forecasting period.
What are the Key Industry Leaders opinion for the Global Bioinformatics market?
The Global Bioinformatics market is expected to exhibit significant growth during the forecast period, owing to surge in demand for clinical diagnostics and personalized medicines.
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Covid-19 Situation –
- The Covid-19 pandemic has had a positive impact on the bioinformatics industry. This is because bioinformatics tools can process large amounts of biological data.
- Bioinformatics tools and techniques play a major role in understanding the role of bacteria in various organisms. This increased his desire.
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The genomics segment to maintain its highest contribution during the forecast period
By application, the genomics sector provided the largest share in 2019, accounting for nearly a quarter of the global bioinformatics market, and is expected to maintain its highest contribution in ‘prophetic period. This is due to the many applications and uses of genomics and the structure of biomolecules. However, it is estimated that the transcriptomic segment will exhibit the highest CAGR of 18.5% from 2020 to 2027. This is due to the significant increase in companion diagnostics and personalized medicine. Additionally, new genetic approaches, ongoing biomarker discovery, and global adoption of transcriptomics technology are driving the growth of the market.
North America to dominate the market throughout the forecast period –
Based on region, North America region had the highest market share in 2019, contributing nearly two-fifths of the total global bioinformatics market, and will maintain its position in 2027. This is due to the adoption of advanced technologies and the increase for better bioinformatics applications, which are important in the process of drug discovery and development. On the other hand, the LAMEA region is expected to grow at the fastest CAGR of 16.8% between 2020 and 2027. This is due to the field of genomics and proteomics, which produce a large amount of data, which must be interpreted and managed.
Major Key Market Players in the Industry –
- Agilent Technologies, Inc.
- Biomax Informatics AG
- DNAnexus, Inc.
- Genedata AG
- Intrexon Bioinformatics Germany GmbH
- Illumina Inc.
- Perkinelmer Inc.
- Qiagen N.V.
- Seven Bridges Genomics Inc.
- Thermo Fisher Scientific, Inc.
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Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of Global Bioinformatics market report?
Q2. What would be forecast period in the market report?
Q3. What is the market value of Global Bioinformatics market in 2020?
Q4. Which is base year calculated in the Global Bioinformatics Market report?
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Key findings of the study –
- Based on technology & services, the bioinformatics services segment is expected to experience rapid growth in the bioinformatics market, registering a CAGR of 22.9% from 2020 to 2027.
- By sector, the medical bioinformatics segment was the major revenue contributor in 20179, and is anticipated to continue bioinformatics market trends during the forecast period.
- S. generated the highest revenue in the global bioinformatics industry in 2019, accounting nearly two-fifths of the global bioinformatics market in 2019.
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