Dublin, Sept. 30, 2021 (GLOBE NEWSWIRE) -- The "Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms, Structural Analysis, Functional Analysis, Services), Applications (Genomics, Proteomics), & Sector (Medical, Animal, Agricultural) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global bioinformatics market is projected to reach USD 21.8 billion by 2026 from USD 10.7 billion in 2021, at a CAGR of 15.2% during the forecast period.
Bioinformatics is the application of computer technology for the management and analysis of biological data. It includes storage, analysis, and dissemination of biological data. Bioinformatics uses computer programs for a variety of applications, including determining gene & protein functions, establishing evolutionary relationships, and predicting the three-dimensional shapes of proteins. However, high costs of bioinformatics software and services and a dearth of skilled professionals are likely to challenge market growth in the coming years.
Medical biotechnology to hold the largest segment of the market
Based on the sector, the market is segmented into medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, forensic biotechnology, another sector. The medical biotechnology segment accounted for the largest share of 50.3% of the bioinformatics market in 2020.The development of new databases for drug discovery, the use of bioinformatics for clinical diagnostics, and the increased funding for the development of bioinformatics solutions for clinical diagnostics are primarily driving the use of bioinformatics in clinical diagnostics and contributing to the growth of the medical biotechnology segment in the market.
Genomics segment to hold the largest share of the component market
Based on application, the bioinformatics market is segmented into genomics, chemoinformatics & drug design, proteomics, transcriptomics, metabolomics, and other applications. The genomics segment accounted for the largest market share of 36.9% in 2020. The increasing use of pharmacogenomic research for the development of precision medicine, the growing favorable funding scenario for genomic research, and the increasing partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics tools and software are the major factors contributing to the growth of the bioinformatics market for genomics.
The US to dominate the bioinformatics market in North America
North America dominated the bioinformatics market, with a share of 45.0% in 2020, followed by Europe and the Asia Pacific, and Rest of World. North America has been among the frontrunners in developing bioinformatics services in the healthcare industry. The bioinformatics market in the US is expected to offer growth opportunities in the coming years owing to the increasing incorporation of EHR in the hospitals. Many major global players are also based in the US, owing to which the country has become a center of innovation in the bioinformatics market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Bioinformatics Market Overview
4.2 Bioinformatics Market, by Product & Service
4.3 Bioinformatics Market: Geographic Mix
4.4 Bioinformatics Market: Regional Mix
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Public-Private Sector Funding for Bioinformatics
5.2.1.2 Increasing Demand for Personalized Medicine
5.2.1.3 Increasing Pharmaceutical and Biotechnology R&D Expenditure
5.2.1.4 Decreasing Costs of Genome Sequencing
5.2.2 Restraints
5.2.2.1 High Equipment Costs
5.2.3 Opportunities
5.2.3.1 Lucrative Opportunities in Emerging Markets
5.2.3.2 Adoption of Blockchain Technology and Cloud Computing
5.2.3.3 Integration of Machine Learning and Ai in Healthcare
5.2.3.4 Investments by Leading It Companies in the Development of Bioinformatics Solutions
5.2.4 Challenges
5.2.4.1 Management of Large Data Volumes
5.2.4.2 Lack of Interoperability and Multiplatform Capabilities
5.2.4.3 Growing Competition from In-House Development and Publicly Available Tools
5.2.4.4 Shortage of Skilled Bioinformatics Professionals
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Bargaining Power of Suppliers
5.3.3 Bargaining Power of Buyers
5.3.4 Threat of Substitutes
5.3.5 Intensity of Competitive Rivalry
5.4 Value Chain Analysis
5.4.1 Research and Development (R&D)
5.4.2 Raw Material
5.4.3 Distribution and After-Sales Services
5.5 Regulatory Landscape
5.5.1 Global Alliance for Genomics and Health (Ga4Gh)
5.6 Case Studies
5.7 Impact of COVID-19 on the Bioinformatics Market
5.8 Ecosystem/Market Map
6 Bioinformatics Market, by Product & Service
6.1 Introduction
6.2 Knowledge Management Tools
6.2.1 Generalized Knowledge Management Tools
6.2.1.1 Development of Novel Standard Generalized Knowledge Management Tools to Drive Market Growth
6.2.2 Specialized Knowledge Management Tools
6.2.2.1 Data Security and Highly Reliable Information Storage System to Support Specialized Knowledge Management Tools Segment
6.3 Bioinformatics Platforms
6.3.1 Data Analysis Platforms
6.3.1.1 Increasing Need for Data Analysis During Sequencing Programs to Drive the Growth of the Segment
6.3.2 Structural & Functional Analysis Platforms
6.3.2.1 Growing Proteomics Research Worldwide to Drive the Adoption of Structural & Functional Analysis Platforms
6.3.3 Other Bioinformatics Platforms
6.3.3.1 Growing Need for Dna and Protein Sequencing in Life Science Sectors to Drive the Growth of Other Bioinformatics Platforms
6.4 Bioinformatics Services
6.4.1 Sequencing Services
6.4.1.1 Financial Support from the Government and Private Bodies to Drive the Growth of the Segment
6.4.2 Data Analysis Services
6.4.2.1 Growing Adoption of Big Data Analytics in Life Science Research to Drive Market Growth
6.4.3 Drug Discovery Services
6.4.3.1 Growing Technological Advancements in Pharmacogenomics and Increasing Collaborations Between Pharmaceutical Companies to Drive Market Growth
6.4.4 Differential Gene Expression Analysis Services
6.4.4.1 Increasing R&D for the Advancement of Solutions and Services for Differential Gene Expression Studies to Drive Market Growth
6.4.5 Database and Management Services
6.4.5.1 Growing Amount of Data Generated to Increase the Need for Database and Management Services
6.4.6 Other Bioinformatics Services
7 Bioinformatics Market, by Sector
7.1 Introduction
7.2 Medical Biotechnology
7.2.1 Drug Discovery & Development
7.2.1.1 Increasing Adoption of Bioinformatics Services and Products for Drug Designing to Drive the Segment Growth
7.2.2 Clinical Diagnostics & Personalized Medicine
7.2.2.1 Presence of Research Groups Engaged in the Development of Bioinformatics Tools for Personalized Medicine to Propel Market Growth
7.2.3 Reproductive Health
7.2.3.1 Increasing Research and Development in the Field of Reproductive Health to Bolster Market Growth in the Segment
7.3 Animal Biotechnology
7.3.1 Rapid Advances in the Understanding of Farm Animal Genomes to Aid Market Growth
7.4 Plant Biotechnology
7.4.1 Increased Use of Bioinformatics for Time and Cost-Efficient R&D in Agriculture to Drive Market Growth
7.5 Environmental Biotechnology
7.5.1 Increasing Use of Ngs for Environmental Biotechnology Applications to Drive the Market Growth
7.6 Forensic Biotechnology
7.6.1 Increasing Availability of Advanced Software for Investigational Purposes to Drive the Growth of the Segment
7.7 Other Sectors
8 Bioinformatics Market, by Application
8.1 Introduction
8.2 Genomics
8.2.1 Decreasing Cost of Next-Generation Sequencing to Drive the Genomics Segment
8.3 Chemoinformatics & Drug Design
8.3.1 Growing Use in Drug Designing Process by Pharmaceutical Companies to Drive Chemoinformatics Segment
8.4 Proteomics
8.4.1 Increasing Applications in Drug Discovery to Drive the Proteomics Market
8.5 Transcriptomics
8.5.1 Transcriptomics to Register the Highest CAGR During the Forecast Period
8.6 Metabolomics
8.6.1 Increasing Research Funding to Drive the Metabolomics Segment
8.7 Other Applications
8.7.1 Other Applications to Drive Research in the Bioinformatics Market
9 Bioinformatics Market, by Region
10 Competitive Landscape
10.1 Market Overview
10.2 Market Ranking Analysis, 2020
10.3 Company Evaluation Matrix: Definitions and Methodology
10.3.1 Introduction
10.3.2 Stars
10.3.3 Pervasive Players
10.3.4 Emerging Leaders
10.3.5 Participants
10.4 Competitive Leadership Mapping: Start-Ups/Smes (2020)
10.4.1 Progressive Companies
10.4.2 Starting Blocks
10.4.3 Responsive Companies
10.4.4 Dynamic Companies
10.5 Competitive Scenario
10.5.1 Product & Service Launches
10.5.2 Expansions
10.5.3 Deals
11 Company Profiles
11.1 Key Players
11.1.1 Thermo Fisher Scientific, Inc.
11.1.1.1 Business Overview
11.1.1.2 Products & Services Offered
11.1.1.3 Recent Developments
11.1.1.4 Analyst's View
11.1.2 Eurofins Scientific
11.1.2.1 Business Overview
11.1.2.2 Services Offered
11.1.2.3 Recent Developments
11.1.2.4 Analyst's View
11.1.2.4.1 Right to Win
11.1.2.4.2 Strategic Choices Made
11.1.2.4.3 Weaknesses and Competitive Threats
11.1.3 Illumina, Inc.
11.1.3.1 Business Overview
11.1.3.2 Products & Services Offered
11.1.3.3 Recent Developments
11.1.3.4 Analyst's View
11.1.3.4.1 Right to Win
11.1.3.4.2 Strategic Choices Made
11.1.3.4.3 Weaknesses and Competitive Threats
11.1.4 Perkin Elmer, Inc.
11.1.4.1 Business Overview
11.1.4.2 Products & Services Offered
11.1.4.3 Recent Developments
11.1.4.4 Analyst's View
11.1.4.4.1 Right to Win
11.1.4.4.2 Strategic Choices Made
11.1.4.4.3 Weaknesses and Competitive Threats
11.1.5 Neogenomics Laboratories
11.1.5.1 Business Overview
11.1.5.2 Products & Services Offered
11.1.5.3 Analyst's View
11.1.5.3.1 Right to Win
11.1.5.3.2 Strategic Choices Made
11.1.5.3.3 Weaknesses and Competitive Threats
11.1.6 Qiagen N.V.
11.1.6.1 Business Overview
11.1.6.2 Products & Services Offered
11.1.6.3 Recent Developments
11.1.7 Source Bioscience
11.1.7.1 Business Overview
11.1.7.2 Products & Services Offered
11.1.8 Agilent Technologies, Inc.
11.1.8.1 Business Overview
11.1.8.2 Products & Services Offered
11.1.8.3 Recent Developments
11.1.9 Dnastar
11.1.9.1 Business Overview
11.1.9.2 Products & Services Offered
11.1.9.3 Recent Developments
11.1.10 Psomagen, Inc. (Formerly Known as Macrogen Corp.)
11.1.10.1 Business Overview
11.1.10.2 Products & Services Offered
11.1.10.3 Recent Developments
11.1.11 Waters Corporation
11.1.11.1 Business Overview
11.1.11.2 Products & Services Offered
11.1.11.3 Recent Developments
11.1.12 Microsynth
11.1.12.1 Business Overview
11.1.12.2 Products & Services Offered
11.1.12.3 Recent Developments
11.1.13 Genewiz (A Brooks Life Sciences Company)
11.1.13.1 Business Overview
11.1.13.2 Products & Services Offered
11.1.13.3 Recent Developments
11.1.14 Medgenome Labs Ltd.
11.1.14.1 Business Overview
11.1.14.2 Products & Services Offered
11.1.15 Partek
11.1.15.1 Business Overview
11.1.15.2 Products & Services Offered
11.1.16 Beijing Genomics Institute (Bgi)
11.1.16.1 Business Overview
11.1.16.2 Products & Services Offered
11.1.16.3 Recent Developments
11.1.17 Biomax Informatics Ag
11.1.17.1 Business Overview
11.1.17.2 Products & Services Offered
11.1.17.3 Recent Developments
11.2 Other Players
11.2.1 Sophia Genetics
11.2.2 Fios Genomics
11.2.3 Genuity Science (Formerly Known as Wuxi Nextcode)
11.2.4 Petdx
11.2.5 Jadbio
11.2.6 Biosystems Immunolab plc.
11.2.7 Astalake Biosystems
11.2.8 Nucleome Informatics Pvt. Ltd.
12 Appendix
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