Global Bioinformatics Services Market Overview:

Bioinformatics is a sub-disciplinary field of computer science and biology concerned with acquiring, analyzing, storing, and disseminating biological data, usually DNA and amino acid sequences. Bioinformatics is the field that produces methods and software tools for a better understanding of biological data. Bioinformatics is applied in biological applications, including genomics, biomedical imaging, drug discovery, the study of structural biology, etc. Bioinformatics is also utilized to organize and retrieve data and advanced analytical tools to analyze different experimental parameters. These tools and services revolutionize the way scientists and investigators in the life sciences conduct research and resolve problems.

Global Bioinformatics Services Market Insights

The global bioinformatics services market size was valued at USD 2.28 billion in 2019 and projected to reach USD 7.01 billion by 2027, growing at a CAGR of 15.04% during the forecast period, 2020-2027. The major factors are the increasing applications of bioinformatics across industries and increasing R&D in drug activity & molecular biology. Additionally, the growing adoption of I.T. solutions for different studies such as pathway metabolism, cell signaling, gene-receptor interactions, and target differentiation will spur the global bioinformatics services industry in the future periods. Furthermore, the rising genetic disorders, growing developments in biotechnology, and increasing genomics worldwide are expected to witness remarkable growth of bioinformatics services. The increasing programs by government and non-governmental organizations and increasing public-private sector funding for bioinformatics services are expected to propel bioinformatics services’ demand over the coming years. Moreover, the advancement of new technologies in the bioinformatics field, reducing costs of DNA sequencing, and the rising pervasiveness of advanced technologies in drug discovery positively impact the market for bioinformatics services. Furthermore, the increasing number of bioinformatics-based research studies and the growing number of collaborations between academic research institutes fuel the demand for the bioinformatics services market. The benefits of using informatics solutions for laboratory protocol generation, data management, and analysis will bolster the global bioinformatics services market share.  In addition, the growing number of collaborations between research institutes and manufacturing industries, along with increasing demand for personalized medicines, propelling the growth of the bioinformatics services market across the globe.

Growth Driver

Increasing applications of bioinformatics in various industries

Bioinformatics services such as lead discovery, data management, data integration, manipulation, silicon analysis, and advanced knowledge discovery are increasingly adopted by companies across several industries. Many industries, such as forensics, bioremediation, food, agriculture, and consumer industries, also use bioinformatics services to improve their products and supply chain processes. This growth in the application areas of bioinformatics services is expected to have new revenue openings for players operating in this market, further supporting the adoption of these services and leading to overall market growth.

Growing initiatives by governments in bioinformatics services

With the growing application of new and innovative technologies in life science, governments and organizations across several countries are investing in new technologies and research & development activities in bioinformatics services. As per the Global Alliance for Genomics and Health, about 60 million genomes will be sequenced by 2025. Besides, with national clinical genomic initiatives global, the generation of genomic data in healthcare is expected to outpace that in research in the upcoming years. Governments across nations are increasingly investing in biotechnology and bioinformatics services to effectively implement new technologies and promote genomic and epidemiological research.

COVID-19 Impacts Insights

The coronavirus spreads via respiratory droplets and aerosols when an uninfected person contacts an infected one. Since its initial detection in 2019, the disease has covered almost the world by spreading over 200 countries. Without any medication, drug, or vaccine at sight, the world is gradually dying from the disease. Consequently, researchers worldwide have started collaborating and sharing their research data to quickly develop a cure for diseases with concerted efforts. In this challenging situation, Bioinformatics came out as one of the vital tools to analyze viral data. It provides crucial information about the virus’s genetic makeup and helps directly develop medication or vaccines against the deadly virus. Bioinformatics can significantly decrease the price of research by predicting a few possible directions amongst hundreds of opportunities. Bioinformatics can help analyze a large amount of data to develop a condition that can be further validated in the laboratory by performing experiments. Rather than doing many experiments without a precise aim, a few can be tested as predicted by Bioinformatics by examining the open data. That way, a researcher can obtain results quickly and can avoid a lot of expenses & workforce. Hence, the COVID-19 pandemic has given an impulse to develop and adapt several informatics techniques, including computational methods for tracing & tracking infected people and collaborative data infrastructures for COVID-19 research.

Type Segmental Analysis

The global bioinformatics services market is segregated into sequencing services, data analysis, drug discovery services, differential gene expression analysis, database and management services, and other bioinformatics services. The sequencing services segment is estimated to witness the highest growth over the analysis timeframe due to the technological advancements and reduced cost of sequencing the sequencing services. In addition, pharmaceutical & biotechnology industries, academics & research centers, and forensic laboratories need sequencing services to analyze extensive data generated during sequencing. As the cost of these services applies their impact on sales, a decrease in the prices of sequencing services will likely be an attractive buying position for end-users. The drug discovery services segment will grow significantly due to the rising prevalence of genetic disorders and the increasing demand for cost & failure reduction in the drug discovery process. In addition, bioinformatics provides more efficient target discovery and validation approaches, thus help to assure that more drug candidates are successful during the approval process and acquiring it more cost-effective.

Specialty Segmental Analysis

Based on the specialty, the global bioinformatics services market is categorized into medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology segment held a significant market share in 2019 and will gain maximum market revenue by 2027. It is attributable to the rising use of bioinformatics for clinical diagnostics, the development of new databases for drug discovery, and increasing funding for bioinformatics solutions for clinical diagnostics. The plant biotechnology segment is poised to witness significant growth over the forecast period due to the growing research on plant genomics and the rising use of bioinformatics for analyzing gene expression patterns in crops, including barley and soybean.

Application Segmental Analysis

The global bioinformatics services market is classified into genomics, chemo informatics & drug design, proteomics, transcriptomics, metabolomics, and other application. The genomics segment is expected to be the highest revenue share for bioinformatics services during the forecast period. The segment’s growth is generally attributed to the growing use of pharmacogenomic research to develop precision medicine, favorable funding scenarios for genomic analysis, and partnerships & collaborations between several life sciences and informatics companies to build advanced bioinformatics solutions & services. The transcriptomics segment will witness a lucrative growth rate in the estimated period due to the increase in the number of projects brought out in translational research and the application of RNA transcripts for studying the etiology of chronic & acute diseases.

End-User Segmental Analysis

Based on the end-user, the global bioinformatics services market is segmented into academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, CROs, and other end users. The academic institutes and research centers segment will dominate the global bioinformatics services market by 2027. Due to the increasing scale of genomics research, the growing number of bioinformatics-based research studies, and the expanding number of government funding programs for genomics research. In addition, an increasing number of collaborations between academic research institutes and key players drive the bioinformatics market. The pharmaceuticals and biotechnology companies were nominated for the highest share of the bioinformatics services market in 2019 because of the expanding use of bioinformatics in clinical trials and drug discovery.

Region Segmental Analysis

By geography, the global bioinformatics services market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is estimated to project considerable growth over 2020-2026. It is due to leading industry players, the rising number of bioinformatics-based research studies, and the development of I.T. solutions for pharmaceutical research. The Asia Pacific will capture a prominent share of the bioinformatics services market by 2027. Due to the increasing prevalence of diabetes & other chronic diseases and growing demand for bioinformatics services from various end-users.

Competitor Analysis

Eurofins Scientific, Illumina Inc., Thermo Fisher Scientific, Biomax Informatics AG, Strand Life Sciences, DNANEXUS INC., Agilent Technologies Inc., QIAGEN N.V., Gene Codes Corporation, BGI Group, and PerkinElmer Inc. are the key players in the global bioinformatics services market.

Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global bioinformatics services manufacturing firm
• Research organizations and consulting companies
• Organizations, associations, and alliances related to bioinformatics services
• Regulatory bodies
• Suppliers
• Retailers

The objective of the research

• Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
• Product analysis involves examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
• Market Trend and Economic Factors Analysis helps assess potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
• Market Segmental Analysis defines an in-depth scenario of the target market by grouping consumers into naturally existing segments of consumers who share similar product preferences or characteristics.
• The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs, wants, and cultural characteristics that can specifically target.

Market Modelling By Type

• Sequencing Services
• Data Analysis
• Drug Discovery Services
• Differential Gene Expression Analysis
• Database and Management Services
• Other Bioinformatics Services

By Specialty

• Medical Biotechnology
• Animal Biotechnology
• Plant Biotechnology
• Environmental Biotechnology
• Forensic Biotechnology

By Application

• Genomics
• Chemo informatics & Drug Design
• Proteomics
• Transcriptomics
• Metabolomics
• Other Applications

By End-User

• Academic Institutes & Research Centers
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• CROs
• Other End Users

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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