Global Bioinformatics Market Size, Product Type, Applications, & Sectors, By Region, Trend Analysis, Competitive Market Share & Forecast, 2016-2026

Global Bioinformatics Market to witness a surge in its valuation with a CAGR by 2027

According to the publisher, Global Bioinformatics Market is estimated to be USD by 2027 from USD in 2017, at a CAGR of from 2021 to 2027.

Bioinformatics is a combination of biology and information technology, which links biological data with methods for information storage, distribution, and inquiry to upkeep multiple areas of scientific research, counting biomedicine. It uses software tools for database creation, data management, data warehousing, data removal, and others. Withdrawal of these data leads to scientific discoveries, which are used in the study of genetics & genomes. Growing demand in the process of novel drug R&D and private and public backing initiatives to support R&D exercises are predictable to be the key reasons motivating the market during the forecast period. Rising demand for protein sequencing is driving growth in the bioinformatics market. Protein sequencing refers to the process of determining the order of amino acids in all or part of the proteins present in DNA, based on which precise functions, activities, origin, or localization of the protein is determined.

“Medical Biotechnology dominates the Sector”

By Sector, the medical biotechnology segment is expected to grow at the highest CAGR during the forecast period. Numerous pharmaceutical companies are progressively accepting bioinformatics tools to decline the cost and time involved in drug discovery. Bioinformatics methods for target detection and authentication are proving more competent than old-style methods. With the help of bioinformatics tools, much of the information concerning drug candidates is authenticated at a molecular level, which inclines to decrease drug attrition rate in the later stages of drug development. Thus, donating to the success of more drug candidates in the clinical trials is making the drug growth progression more cost actual.

Growth Drivers

Growing demand for nucleic acid and protein sequencing due to reductions in sequencing costs and technological advancements

Bioinformatics is progressively being used to recognize genes in DNA sequences. The information collected is used to know the molecular mechanisms of diseases. This assists in developing better treatments and diagnostic tests. Due to important discounts on costs of sequencing, many scientific research institutes and biotechnology companies have undertaken initiatives to perform sequencing studies at their amenities. Similarly, sequencing and data analysis and clarification can now be finished within days after the growth of quicker and sophisticated bioinformatics tools. With progressions in technology, there has been a surge in the speed of translating genetic sequences, which has decreased the complete cost of sequencing and analysis per sample. The reasons behind this reduction in cost include the growth of advanced DNA sequencing platforms and various bioinformatics tools.

Increasing funding will drive the growth of the market

IT giants have started focusing on bioinformatics for healthcare applications. Investments are being made for more advanced tests and techniques in battling diseases such as cancer and Parkinson’s. Microsoft co-founder Bill Gates and Amazon founder Jeff Bezos have invested millions of dollars in Grail, a start-up by gene sequencing firm Illumina that a former Google executive lead. Grail is emerging a cancer-screening blood test for persons, even if they show no indications. The test’s development is foreseeable to require many samples to be sequenced and inspected by using more whole bioinformatics tools and databases.

“Asia Pacific dominates the Global Bioinformatics Market”

The market in the Asia Pacific region is predictable to propose noteworthy chances for players to offset income losses sustained in established markets. Developing countries in this region are watching development in their GDPs and an essential increase in disposable income levels. This has led to augmented healthcare disbursements by a more extensive population base, healthcare infrastructure innovation, and rising diffusion of cutting-edge research and clinical laboratory technologies, counting bioinformatics, in Asia Pacific countries. These issues are predictable to provide noteworthy growth chances to bioinformatics companies working in this region.

Global Bioinformatics Market: Competitive Landscape

Some of the leading players operating in the Global Bioinformatics Market are Agilent Technologies, Inc., Geneva Bioinformatics (Genebio), Dassault Systems, Eurofins Scientific, Illumina Inc., Bruker Daltonics Inc., Biomax Informatics AG, Perkinelmer Inc., Qiagen N.V, and Thermo Fisher Scientific, Inc. The other players in the value chain include Accelrys, Inc., Affymetrix, Inc., SA Nonlinear Dynamics, Quest Diagnostics, Inc., and other prominent players.

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The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Bioinformatics Market size & forecast. The report promises to provide state-of-the-art technology of the Global Bioinformatics Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.