According to the Personalized Medicine Coalition (PMC), antidepressants are ineffective for 38% of the patients and same is the case with asthma drugs for 40%, diabetes drugs for 43%, and cancer drugs for 75%. This has been a major loophole in the medication procedure, and it significantly increments the treatment time. So, the field of medicine is moving towards providing personalized medicines for patients that warrants detailed disease assessment and management integrated with data analytics which is leading to prospects in the bioinformatics market that was valued between $9.2 billion and $9.6 billion. Furthermore, the global demand for bioinformatics will further grow with a remarkable CAGR of 12% to 14% during the forecast period of 2020 to 2025.
The countries in the Americas region boast of best-in-class medical facilities with new medicines and clinical diagnostics, which is coupled with the technological advancements in data science and analytics. These developments are chiefly supported by the healthy economy of these countries and government initiatives regarding healthcare, enabling these countries to leverage technology in the healthcare sector. This resonates with the findings that Americas held the maximum regional bioinformatics market share of 36% to 38% in 2020.
Bioinformatics Market Outlook:
Bioinformatics is a science that combines biology, computer science, computer programming, information engineering, mathematics, and statistics in order to analyze the biological information and device newer diagnostic and medication methodologies for patients. This technology finds applications in the formulation of medicines, microbial genomics, and the agricultural sector. The key application segment of bioinformatics is genomics where it is used to identify genes and single nucleotide polymorphisms for creating a biological database.
The business intelligence report by the publisher’s market analyst documents the growth prospects in the genomics market, which had a value of $16 billion to $16.5 billion as of 2020. Furthermore, the analyst also estimates the market demand to grow with a remarkable CAGR of 9.2% to 10.2% through to 2025. Now, this will substantially enhance the demand for bioinformatics in the genomics application segment which is resultantly estimated to grow with a superlative CAGR of 11% to 12% during the forecast period of 2020 to 2025.
“The growing concerns pertaining to the complex diseases such as heart disease, asthma, diabetes, and cancer is making genomics an indispensable part of the medical research, and the future will observe more developments in the genomics industry, and that will catapult the application of bioinformatics in the sector,” adds the market expert in the market research report.
Bioinformatics Market Growth Drivers:
- The Emergence of Rare Diseases:
According to the World Health Organization (WHO), there are 5000 to 8000 distinct rare diseases in Europe along that affects 27 million to 36 million. Similarly, other regions in the world witness new diseases that are yet to have customized prescription treatment. Consequently, there is a dire need for formulating new vaccines and medicines that can heal these diseases. Apparently, these rare diseases require a lot of data analytics for diagnosis and medication which predominantly requires bioinformatics along with other research methods. The sporadic identification of rare diseases and subsequent need for new medicines is creating opportunities for the vendors in the bioinformatics market.
- The Application in the Agriculture Sector:
Bioinformatics plays an important role in the development of the agricultural sector. The technology is used in agro-based industries, agricultural by-product utilization, and better management of the environment. Bioinformatics enables to find the genetic, proteomic, metabolomics, and phenome information, and this is used for reinventing new techniques in order to improve the crop productivity. Now, according to the Food and Agriculture Organization (FAO) of the United Nations, almost three-quarter of the world’s agriculture value is generated in the developing countries, and many of these countries identify the agriculture sector contributing 30% of the GDP. This creates enormous opportunities in the vendors in the bioinformatics market.
- The Growth of Big Data Technology Imbuing Progress in Bioinformatics:
Big data has now gained prominence in almost all the sectors with a myriad of government and private enterprises that are leveraging it for organizational growth. Nowadays, the technology is undergoing rapid development which is enabling precise predictive analysis. This consistent progress in big data is instilling the growth of bioinformatics as it is enabling to scrutinize the existing medical conditions and reinventing new techniques for better treatment.
Bioinformatics Market Trends:
- In January 2020, bioinformatics company Omicia acquires spiral genetics. This acquisition was attributed to Omicia’s vision of providing customers with new techniques to development novel diagnostics and store the genomic data for a long time.
- In January 2020, Qiagen acquired OmicSoft – a company recognized for its cutting-edge informatics solutions. The acquisition attributes to Qiagen’s mission to enhance its bioinformatics portfolio, thereby positioning itself in the bioinformatics market.
- The Research on Multi-Drug Resistant Tuberculosis: About 600,000 cases of rifampicin-resistant tuberculosis are estimated by WHO each year. There is an on-going research for improved detection methods and cure rates, and bioinformatics is largely executed for the same.
Bioinformatics Market Challenges:
The major challenge faced by the vendors in the bioinformatics market is the fact that bioinformatics leads to thousands of data points since a single gene expression. This makes the management of data points difficult which has a subsequent effect on data mining and analysis to device new diagnostic and treatment methods. This is not only slowing down the process, but it also has a considerable impact on the bioinformatics market revenue due to the increase in the turn-around time of the medical research that is being conducted. However, the advancements in data analytics as mentioned above is expected to reduce the complications in the application of bioinformatics, thereby leading to new horizons in the market.
Bioinformatics Market Key Players Perspective:
The key players crusading for the bioinformatics market share are Agilent Technologies Inc., Biomax Informatics AG, Dassault Sytemes Biovia Corp, Bruker Corporation, Qiagen, Illumina Inc., Permin Elmer Inc., and Applied Biologicals Materials.
Bioinformatics Market Research Scope:
The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the bioinformatics market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of bioinformatics market, and their specific applications in medicine, agriculture, genomics, proteomics, and transcriptomics.
Bioinformatics Market Report: Industry Coverage
The report analyses the product demands by the type of bioinformatics products that include bioinformatics platforms, knowledge management tools. In the report, the application of bioinformatics is further segmented into clinical diagnostics and gene therapy.
The bioinformatics market report also analyzes the major geographic regions as well as the major countries in these regions.
The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Bioinformatics Market Report
- Is the market demand for bioinformatics growing? How long will it continue to grow and at what rate?
- Which type of home security system presents the major growth opportunities?
- Is there a possibility for change in the market structure over time?
- Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
- Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
- What are the short-term, long-term, and medium-term growth drivers for the market?
- What are the short-term, medium-term, and long-term challenges for the market?
- What are the short-term, medium-term, and long-term opportunities for the market
- Who are the top players/companies of the market?
- What are the recent innovations in the market?
- How many patents have been filed by the leading players?
- What are the types of patents filed by the leading players?
- What is our Vision 2030 for bioinformatics market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global bioinformatics market during the forecast 2020–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures
Please Note: The report is to be delivered in 1-2 working days after an order is placed.
2. Executive Summary
3. Bioinformatics Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End User profiling
3.2.3. Patent Analysis
3.2.4. Top 5 Financials Analysis
4. Bioinformatics Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Industry
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Bioinformatics Market – Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Bioinformatics Market - By Product
6.2. Bioinformatics Platform
6.2.1. Sequence Analysis
6.2.2. Sequence Alignment
6.2.3. Sequence Manipulation
6.2.4. Structural and Functional Analysis
6.3. Knowledge Management Tool
6.3.1. Generalized Knowledge Management Tools
6.3.2. Specialized Knowledge Management Tools
6.4.1. Data Analysis Services
6.4.2. Database Management Services
7. Bioinformatics Market - By Applications
7.2.1. Drug Discovery
7.2.2. Personalized Medicine
7.2.3. Preventive Medicine
7.2.4. Gene Therapy
7.3. Microbial Genome Applications
7.3.1. Waste Clean up
7.3.2. Climate Change
7.3.4. Alternative Energy
7.4.1. Crop Improvement
7.4.2. Insect Resistance
7.4.3. Improve Nutritional Quality
7.5.1. Diagnostics – Identification of Protein as Marker of Disease
7.5.2. Drug – Targets of new drugs or as therapeutics
7.6.1. Sequencing of base pairs
7.6.2. Analysis of inter-related genes
7.7.1. Expression Profiling
7.9. Molecular Phylogenetics
8. Bioinformatics Market – By End User
8.1. Medical Bioinformatics
8.2. Drug Development
8.3. Clinical Diagnostics
8.4. Molecular Medicine
8.5. Gene Therapy
8.6. Reproductive Biotechnology
8.7. Animal Bioinformatics
8.8. Agricultural Bioinformatics
8.9. Environmental Bioinformatics
8.10. Forensic Bioinformatics
9. Bioinformatics Market - By Geography
9.1. North America
9.2. South America
9.2.7. Costa Rica
9.4.3. South Korea
9.4.7. Hong Kong
9.5. Middle East& Africa
10. Market Entropy
10.1. New Product Launches
10.2. M&A’s, Collaborations, JV’s, Partnership
11. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
11.1. Thermo Fisher Scientific Inc.
11.2. Agilent Technologies Inc.
11.3. Illumina Inc.
11.5. Bruker Corporation
11.6. Biomax Informatics Ag
11.7. Waters Corporation
11.8. PerkinElmer Inc.
11.9. ID Business Solutions Ltd.
11.10. Dassault Systems
12.3. Research Methodology
12.5. Compilation of Expert Insights