The Global Bioinformatics Market size is expected to reach $19.9 billion by 2028, rising at a market growth of 12.5% CAGR during the forecast period
In order to serve several fields of scientific study, including biomedicine, bioinformatics—a mix of biology and information technology—links biological data with methods for information storage, dissemination, and analysis.
New York, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Bioinformatics Market Size, Share & Industry Trends Analysis Report By Product & Services, By Sector, By Application, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412012/?utm_source=GNW
It makes use of software tools for data management, data mining, data warehousing, and other functions. Exploiting such data produces scientific findings that are used in the study of genetics and genomes.
There are several bioinformatics tools on the market. They are divided into four groups: tools for sequence analysis, tools for homology and similarity analysis, and other tools. The discipline includes a wide range of cutting-edge and specialized aspects of life, including comparative genomics, DNA microarrays, structural genomics, and medical data. Therefore, the market share for bioinformatics globally is increased by the aforementioned considerations.
Sequencing and data analysis may be useful tools for the characterization and detection of viruses in animals, environments, and people during a pandemic. The development of vaccinations and less expensive diagnostic techniques may be guided by an understanding of viral variability, while knowledge of transmission networks is essential for public health control and containment measures.
For instance, Illumina provided cloud-based bioinformatics and sequencing supplies to Canadian COVID-19 projects in November 2021. The funds will help the CanCoGen, or Canada’s COVID-19 Genomics Network, HostSeq, and VirusSeq initiatives. Over the anticipated time, these variables are predicted to have a positive impact on the bioinformatics industry.
COVID-19 Impact Analysis
The COVID-19 pandemic served as a bioinformatics field test. Every nation has made studying and comprehending how to stop the spread of the virus a top priority during the COVID-19 pandemic. The primary technique for examining SARS-CoV-2 genomes, which provides essential knowledge about the virus, is next-generation sequencing. Databases of biological and host-virus interactions, as well as bioinformatics pipelines, are essential tools for calculating these data and improving understanding of SARS-CoV-2. As a result, several research is being carried out to comprehend the genetic makeup of the virus; bioinformatics is the driving force behind these studies.
Market Growth Factors
Increasing Support from the Public and Private Sectors for Bioinformatics
Globally, a large number of public and commercial entities are making investments in the area of bioinformatics. The quality of these services has increased as a result of these expenditures, which have led to technical breakthroughs in bioinformatics services. For instance, the UK government established a new partnership called COVID-19 Genomics UK Consortium (COG-UK) in March 2020 with an investment of EUR 20 million to sequence the genomes of SARS-CoV-2, the virus that is driving the current COVID-19 pandemic.
Adoption of Genomics in Specialized/Personalized Medicine
Personalized medicine research is becoming more popular among pharmaceutical corporations. Personalized medicine allows doctors to pinpoint a patient’s specific needs and then prescribe medications and treatments to meet those needs. This method ensures improved treatment outcomes. In addition, advances in the field of gene therapy are projected to enable doctors to treat a problem by inserting a gene into a patient’s cell, potentially replacing existing medications and operations.
Market Restraining Factors
NGS technology advancements have increased the need for rapid, precise, and user-friendly bioinformatics tools. Not all scientists doing experimental research are bioinformaticians. Because of this, having accessible tools is crucial for using bioinformatics systems. Due to the fact that many bioinformatics tools lack an appropriate user-friendly interface, they often need significant computer knowledge. The cost of genomic instruments, which range between USD 10 and 20 million, is premium because of their extensive features and functions.
Product & Services Outlook
Based on Product & Services, the bioinformatics market is divided into Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services. In 2021, the Bioinformatics Platforms segment garnered the significant revenue share in the market. Due to a growth in platform applications and the need for improved tools in drug research. The rise in platform application is linked to the life science company’s increased need for structural identification and modification. This would therefore assist in the process of creating new drugs and assessing their therapeutic benefits.
Based on sector, the market is categorized into Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Others. The animal biotechnology segment accounted for the prominent revenue share in the market in 2021. By offering new methods for identifying vaccine targets from the sequencing of biological data of organisms, bioinformatics has advanced veterinary science. The significance of bioinformatics and underline the need for bioinformatics education and training is in order to fully realize its promise for enhanced animal health services.
Based on application, the market is bifurcated into Genomics, Chemoinformatics & Drug Design, Proteomics, Transcriptomics, Metabolomics, and Others. The proteomics segment generated the substantial revenue share in the market in 2021. The increase in R&D activities and significant financial expenditures in technology development are credited with driving the proteomics market. These tools aid in the large-scale management and analysis of data. Additionally, algorithms are used in database management and data monitoring. The expansion of the proteomics market is being driven by all of these causes.
Based on geography, the Bioinformatics Market is divided into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America led the bioinformatics Market with largest revenue share. Government approvals for genetic research, major companies having regional headquarters, decreased sequencing costs, awareness of bioinformatics services, and a rise in the number of genomic research activities (and the related adoption of bioinformatics) in the region are all contributing factors to North America’s significant market share in the global bioinformatics market.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Thermo Fisher Scientific, Inc. is the forerunner in the Bioinformatics Market. Companies such as Agilent Technologies, Inc., Illumina, Inc. and Qiagen N.V. are some of the key innovators in Bioinformatics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Eurofins Scientific SE, Qiagen N.V., Agilent Technologies, Inc., Illumina, Inc., Waters Corporation, PerkinElmer Inc., Genedata AG, Neogenomics laboratories, BGI Group
Recent Strategies Deployed in Bioinformatics Market
Partnerships, Collaborations and Agreements:
Oct-2022: Thermo Fisher Scientific came into partnership with Genoox, a provider of fast and accurate tools to solve complex, genomic data challenges, delivering advanced, and end-to-end genomic analysis tools. The partnership aims to automate the interpretation and reporting of cytogenetic research data with AI. ChAS users can access Franklin, Genoox’s cloud-based AI platform with the launch of CytoScan Automated Interpretation and Reporting (AIR) solution for making cytogenetic research data analysis easy.
Aug-2022: Agilent Technologies came into collaboration with Bright Giant, a company that provides software solutions for small molecule identification. Following the collaboration, Agilent’s state-of-the-art mass spectrometry technology is integrated with Bright Giant’s expertise in artificial intelligence solutions for small molecule research. This collaboration would expand non-targeted metabolomics workflows utilizing AI-based methods and empower scientists in making novel and impactful discoveries.
Jun-2022: Agilent Technologies teamed up with Amazon for utilizing Amazon Elastic Compute Cloud (Amazon EC2) G5g instances powered by AWS Graviton2 processors as well as featuring NVIDIA T4G Tensor Core GPUs, together with NVIDIA Clara Parabricks’ advanced genomics analysis capabilities, for increasing processing speeds for variant calling workflows significantly on Agilent’s cloud-native Alissa Reporter software. The collaboration helped Agilent in delivering streamlined workflow solutions for its SureSelect Family of NGS assays including a range of catalog and custom panels, comprising SureSelect Human Exome reagents.
May-2022: Illumina signed a five-year partnership with Deerfield Management, a healthcare investment management company. The partnership aims to apply a genetic-led approach to the discovery and development of novel therapies for diseases having unfulfilled medical needs. Additionally, this partnership would utilize genetic knowledge and genomic tools for selecting programs with a higher probability of success to decrease research and development costs and advance the cutting-edge therapies approval.
Apr-2022: PerkinElmer collaborated with Scitara, a provider of laboratory-specific, cloud-based software solutions for the life sciences and other science-based industries. The collaboration supports the integration of the PerkinElmer Signals Research Suite Informatics Platform that offers end-to-end, seamless scientific data and workflow management with applications, laboratory instruments, and resources through Scitara Scientific Integration Platform SIP. The integration delivers the flexibility and ability to work in integrated laboratory equipment to customers.
Apr-2022: NeoGenomics announced a partnership with Biognosys, a provider of next-generation proteomics solutions for drug discovery and development. The partnership encompasses multiple commercial and strategic initiatives, comprising NeoGenomics labs providing access to the latter company’s proteomics platforms, scientific, and medical affairs-joint discussions and presentations together with joint technical and scientific initiatives.
Mar-2022: Thermo Fisher Scientific extended its collaboration with Symphogen, a biotechnology company developing protein drugs based on recombinant monoclonal antibody mixtures. The expansion aims to support the discovery and development of new treatments for cancer. The deployment of instruments and software broadened the capabilities of developing, testing, and implementing platform workflows routinely for native and intact mass analysis of therapeutic monoclonal antibody mixtures.
Aug-2021: Agilent partnered with Partek, a bioinformatics software, for combining its Alissa Clinical Informatics Platform with Partek Flow Bioinformatics software. This combination provides a complete end-to-end flexible, robust, and customizable analysis workflow for fulfilling customer requirements. Additionally, the integration reinforced Agilent’s overall offering for addressing a wide range of applications and workflows throughout the translational research to clinical testing continuum.
Jul-2021: Genedata partnered with SCIEX, a company engaged in life science and analytical technologies. The partnership aims to create new software solutions for the biopharmaceutical mass spectrometry market.
Jun-2021: Waters Corporation announced a collaboration with Bioprocessing Technology Institute (BTI), a research institute of Singapore’s Agency for Science, Technology, and Research (A*STAR). Following the collaboration, the companies are focused on solving a significant barrier to the characterization of biopharmaceuticals is the identification and quantification of complex biomolecules including released N- and O- glycans and metabolites that affect therapeutic action through data analytics research.
Jun-2021: BGI Americas, a part of BGI Genomics Co. Ltd. teamed up with Champions Oncology, a provider of oncology data-driven solutions. The collaboration would deliver end-to-end multi-omics and proteomics solutions to their respective customers for oncology biomarker discovery and validation. As part of this collaboration, the former company’s Mass Spectrometry Center in San Jose, California would be responsible for the preparation of the sample as well as the analysis and generation of metabolomics and proteomics data utilizing the cutting-edge mass spectrometers of the laboratory.
Product Launches and Product Expansions:
Nov-2022: QIAGEN Digital Insights, part of QIAGEN in partnership with ATCC introduced a new cell line database. ATCC is a leading biological materials organization. The new database provides manually organized sequencing data intended for authenticated, reproducible, and standardized cell lines. The new product reflects QDI’s commitment to delivering its clients with all-inclusive and manually curated genomic datasets.
Jun-2022: PerkinElmer released BioQule™ NGS System, the research-use-only, automated benchtop solution for NGS library preparation of up to eight samples. This is an ideal solution for any lab performing NGS Library preparation comprising mid and small-sized labs following research in transcriptomics and genomics or large reference laboratories.
Apr-2022: QIAGEN Digital Insights, part of QIAGEN introduced QIAGEN Biomedical Knowledge Base. The product is unveiled in Europe, North America, Australia, and Japan. The biomedical knowledge base supports data scientists in accessing biomedical relationships efficiently and rapidly.
Jan-2021: Illumina introduced Illumina Connected Analytics (ICA) for transforming bottlenecks of genomic data into catalysts. The integrated bioinformatics solution offers a private, comprehensive, cloud-based data platform for empowering customers to analyze, manage, and explore huge volumes of multi-omic data in a scalable, secure, and flexible environment.
Acquisitions and Mergers:
May-2022: Eurofins Scientific took over a majority stake in Repertoire Genesis Inc., a company that owns a unique and proprietary analytical platform, TCR/BCR (T Cell Receptor/B Cell Receptor) repertoire profiling. The acquisition broadened the former company’s biopharma and clinical service offerings in Japan.
Feb-2022: Agilent Technologies completed the acquisition of Virtual Control’s advanced artificial intelligence technology. Agilent added ACIES, the software into its mass spectrometry and gas chromatography platforms for improving the efficiency, productivity, and accuracy of high-throughput labs operating throughout the world.
Jun-2020: Illumin completed the acquisition of BlueBee, a leading provider of high-performance genomics solutions. The acquisition added unique capabilities while ensuring the secure implementation of clinical informatics throughout the world. Together, the companies focus on providing an unparalleled learning environment for unlocking the potential of genomic insights.
Scope of the Study
Market Segments covered in the Report:
By Product & Services
• Knowledge Management Tools
• Bioinformatics Platforms
• Bioinformatics Services
• Medical Biotechnology
• Plant Biotechnology
• Environmental Biotechnology
• Animal Biotechnology
• Forensic Biotechnology
• Chemoinformatics & Drug Design
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Thermo Fisher Scientific, Inc.
• Eurofins Scientific SE
• Qiagen N.V.
• Agilent Technologies, Inc.
• Illumina, Inc.
• Waters Corporation
• PerkinElmer Inc.
• Genedata AG
• Neogenomics laboratories
• BGI Group
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