The global bioinformatics services market size was estimated to be USD 3.37 billion in 2023 and is expected to reach USD 17.13 billion by 2034 with a CAGR of 15.92% during the forecast period 2024-2034. Advancements in next-generation sequencing, rising demand for personalized medicine, drug discovery and development, increasing applications in clinical research, growth of precision agriculture, rising technological advancements, increasing awareness and adoption of genomic medicine, increasing collaborations and partnerships, and government initiatives and funding will drive the market growth.
Massive volumes of biological data have been produced by the growing use of NGS technology, which has increased the demand for bioinformatics services to handle, process, and interpret this data. The need for bioinformatics services for patient classification, biomarker identification, and genetic profiling has surged due to the rising emphasis on personalized medicine and tailored treatment plans. For instance, in October 2023, Oxford Nanopore Technologies and Illumina, Inc. announced a collaborative partnership to provide a combined NGS and long-read sequencing solution for thorough genomic research.
By product, the next-generation sequencing segment accounted for the highest revenue-grossing segment in the global bioinformatics services market in 2023 owing to the rapid advancements in sequencing technologies, increased adoption of precision medicine approaches, and the surge in genomic research initiatives across various industries. For instance, Thermo Fisher Scientific Inc. acquired Invitae Corporation, a major genetic testing firm, in December 2023, strengthening its footprint in the clinical genomics industry. Additionally, the chemoinformatics segment is predicted to grow at the fastest CAGR during the forecast period owing to the escalating need for efficient drug discovery and development processes, wherein chemoinformatics plays a pivotal role in analyzing chemical data, predicting molecular properties, and facilitating rational drug design.
By product, the genomics segment accounted for the highest revenue-grossing segment in the global bioinformatics services market in 2023 owing to the increasing applications of genomics in diverse fields, including personalized medicine, agriculture, and research, coupled with the growing volume of genomic data generated from advanced sequencing technologies. For instance, QIAGEN N.V. announced the release of QIAseq Fast-Track DNA Library Kits in December 2023, allowing for quicker and more efficient NGS library preparation. Additionally, the proteomics segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising significance of understanding protein structures and functions in various fields, including drug discovery, diagnostics, and personalized medicine.
By product, the academic institutes & research centers segment accounted for the highest revenue-grossing segment in the global bioinformatics services market in 2023 owing to the growing demand for bioinformatics expertise in academic and research settings, where institutions are actively involved in genomics, transcriptomics, and other life sciences research initiatives. For instance, in October 2023, Agilent Technologies, Inc. collaborated with Bio-Techne to develop and sell novel single-cell analytic procedures for the CrissyTM microfluidic platform. Additionally, the pharmaceutical & biotechnology company segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased focus on accelerating drug discovery and development processes, coupled with a rising emphasis on precision medicine and personalized therapeutics.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust presence of well-established pharmaceutical and biotechnology companies, substantial government investments in genomics and healthcare research, and a high adoption rate of advanced technologies in the life sciences sector. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness and adoption of bioinformatics solutions in healthcare, rising investments in genomics and life sciences research, and the expanding biotechnology and pharmaceutical sectors. For instance, in November 2023, BGI Genomics partnered with Champions Oncology to provide end-to-end multi-omics and proteomics solutions for cancer biomarker development and validation.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Massive volumes of biological data have been produced by the growing use of NGS technology, which has increased the demand for bioinformatics services to handle, process, and interpret this data. The need for bioinformatics services for patient classification, biomarker identification, and genetic profiling has surged due to the rising emphasis on personalized medicine and tailored treatment plans. For instance, in October 2023, Oxford Nanopore Technologies and Illumina, Inc. announced a collaborative partnership to provide a combined NGS and long-read sequencing solution for thorough genomic research.
By product, the next-generation sequencing segment accounted for the highest revenue-grossing segment in the global bioinformatics services market in 2023 owing to the rapid advancements in sequencing technologies, increased adoption of precision medicine approaches, and the surge in genomic research initiatives across various industries. For instance, Thermo Fisher Scientific Inc. acquired Invitae Corporation, a major genetic testing firm, in December 2023, strengthening its footprint in the clinical genomics industry. Additionally, the chemoinformatics segment is predicted to grow at the fastest CAGR during the forecast period owing to the escalating need for efficient drug discovery and development processes, wherein chemoinformatics plays a pivotal role in analyzing chemical data, predicting molecular properties, and facilitating rational drug design.
By product, the genomics segment accounted for the highest revenue-grossing segment in the global bioinformatics services market in 2023 owing to the increasing applications of genomics in diverse fields, including personalized medicine, agriculture, and research, coupled with the growing volume of genomic data generated from advanced sequencing technologies. For instance, QIAGEN N.V. announced the release of QIAseq Fast-Track DNA Library Kits in December 2023, allowing for quicker and more efficient NGS library preparation. Additionally, the proteomics segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising significance of understanding protein structures and functions in various fields, including drug discovery, diagnostics, and personalized medicine.
By product, the academic institutes & research centers segment accounted for the highest revenue-grossing segment in the global bioinformatics services market in 2023 owing to the growing demand for bioinformatics expertise in academic and research settings, where institutions are actively involved in genomics, transcriptomics, and other life sciences research initiatives. For instance, in October 2023, Agilent Technologies, Inc. collaborated with Bio-Techne to develop and sell novel single-cell analytic procedures for the CrissyTM microfluidic platform. Additionally, the pharmaceutical & biotechnology company segment is predicted to grow at the fastest CAGR during the forecast period owing to the increased focus on accelerating drug discovery and development processes, coupled with a rising emphasis on precision medicine and personalized therapeutics.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust presence of well-established pharmaceutical and biotechnology companies, substantial government investments in genomics and healthcare research, and a high adoption rate of advanced technologies in the life sciences sector. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness and adoption of bioinformatics solutions in healthcare, rising investments in genomics and life sciences research, and the expanding biotechnology and pharmaceutical sectors. For instance, in November 2023, BGI Genomics partnered with Champions Oncology to provide end-to-end multi-omics and proteomics solutions for cancer biomarker development and validation.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Service, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Bioinformatics Services Market Report 2023 - 2034
Bioinformatics Services Market Analysis & Forecast by Service 2023 - 2034 (Revenue USD Bn)
- Next-Generation Sequencing (NGS)
- Chemoinformatics
- Microarray Data Analysis
- Biological Data Curation
- Scientific Software Testing
- Targeted Sequencing
Bioinformatics Services Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Genomics
- Proteomics
- Transcriptomics
- Other Applications
Bioinformatics Services Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Academic Institutes & Research Centers
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
Bioinformatics Services Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Bioinformatics Services Market: Service Estimates & Trend Analysis
8. Bioinformatics Services Market: Application Estimates & Trend Analysis
9. Bioinformatics Services Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Bioinformatics Services Market
12. Europe Global Bioinformatics Services Market
13. Asia Pacific Global Bioinformatics Services Market
14. Latin America Global Bioinformatics Services Market
15. MEA Global Bioinformatics Services Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Johnson & Johnson
- AstraZeneca PLC
- Boehringer Ingelheim International GmbH
- GlaxoSmithKline plc
- Takeda Pharmaceutical Company Limited
- Novartis AG
- Pfizer Inc.
- Bayer AG
- Bristol Myers Squibb Company
- Mitsubishi Tanabe Pharma Corporation
- snd Dexcom Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 3.37 Billion |
| Forecasted Market Value ( USD | $ 17.13 Billion |
| Compound Annual Growth Rate | 15.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
