Global Bioinformatics Services Market

Bioinformatics Services Market: Insights

Bioinformatics combines statistics and biological computation to develop software tools and methods to analyze biological data. Biological data are often complex and are extremely large, this necessitates the need for statistical tools and software to derive meaningful interpretations from the data. Bioinformatics is used in the study of genetics for sequencing and annotating genomes and their mutations. Bioinformatics is also used to study the impact of genes on protein expression and protein regulation in the body. Bioinformatics allows researchers to study the processes occurring within the cell as the body fights off diseases. The biological data collected from the cell activities are combined and analyzed using bioinformatics to attain a comprehensive understanding of the cellular activities. Bioinformatics is used to study protein structures, protein domains, nucleotide sequences, and amino acid sequences. The bioinformatics market is mainly driven by the technological advancements occurring in the field of genome study and sequencing. Researchers in these fields have to deal with a large amount of data and often required automated analysis and tools that can help to comprehend the obtained data. Bioinformatics is also driven by the growing investments in bioinformatics research and the increasing application of bioinformatics in various applications like drug development, disease prediction, toxicology, and diagnostics, among other applications. The cost of sequencing and the growing amount of data that can be collected from sequencing studies are expected to increase the demand for bioinformatics. Bioinformatics is also more time-efficient than conventional methods of dealing with biological data.  The bioinformatics market is hampered by the lack of skilled professionals who are capable of handling bioinformatics data.

Bioinformatics Services Market: By Service Type

Based on the various services that are offered under bioinformatics, the market can be segmented into sequencing, data storage & management, data analysis, drug discovery, and other types of services. The sequencing segment is expected to register the fastest growth during the forecast period. Sequencing has become a widely researched topic in recent years as researchers strive to unravel the mysteries of the human body. Information that can be obtained from sequencing can be used to changes genes, identify potential drug targets, and the association or changed in DNA concerning diseases. Recent advancements in DNA sequencing have seen governments and research institutions increase spending on sequencing research. Pharmaceutical companies are also investing heavily into sequencing to synthesize novel drugs that can increase their profits. The potential of sequencing and the increased investment in its research has resulted in the dominance of this segment.

Bioinformatics Services Market: By Application

Based on applications of bioinformatics, the market can be segmented into drug development, molecular development, microbial genome application, gene therapy, veterinary science, forensic analysis, and other applications. The microbial genome application is expected to register the fastest growth rate during the forecast period. The growing importance of sequencing in bioinformatics as it allows researchers to automate genome sequencing has contributed to the growth of the microbial genome application segment in recent years. The increasing use of transcriptomics to study the RNA transcripts and increasing investments in sequencing are expected to increase the demand for microbial genome application during the forecast period.

Bioinformatics Services Market: By End User

Based on the various end-users of bioinformatics, the market can be segmented into academic & research centers, pharmaceutical & biotechnology industries, forensic laboratories, and other end users. The academic and research centers segment is expected to hold the dominant share of the market. Bioinformatics is largely used by researchers to study the characteristics and activities of the cells within an organism. Governments across the world are investing heavily in the research and development of novel bioinformatics techniques which has led to the dominance of the academic and research centers. Along with governments, pharmaceutical companies and other private investors also invest heavily in research centers that carry genome studies. These studies are dependent on bioinformatics which is one of the major drivers of the use of bioinformatics in research and academic centers across the world.

Bioinformatics Services Market: By Region

The North American region is expected to hold the dominant share of the market during the forecast period. The region has witnessed a trend of growing incidences of genetic disorders and cancer in recent years. The need to combat these diseases has seen increased investment in genome studies and sequencing which are reliant on bioinformatics services. The growing demand for bioinformatics services from research activities is one of the major drivers of the market in the region. The region also has a large number of bioinformatics services vendors and a favorable funding environment for bioinformatics research have contributed to the growth of the market in the region. The APAC region is expected to register the fastest growth rate during the forecast period. Growing incidences of cancer and genetic diseases in the region combined with the growing investments in sequencing and genome studies in the region are expected to increase the demand for bioinformatics services in the region. The region is also expected to see an increase in the number of bioinformatics service vendors which is expected to result in the growth of the bioinformatics market in the region.

Bioinformatics Services Market: Share & Competitor Analysis

BGI Group, FIOS Genomics, Thermo Fisher Scientific, Illumina Inc., Strand Life Sciences, Inc., Biomax Informatics AG, CD Genomics, DNANEXUS Inc., QIAGEN N.V., Agilent Technologies Inc., Gene Codes Corporation, Premier Biosoft, Perkin Elmer Inc., Biomatters Geneious, DNASTAR, Creative-Biolabs, GSL Biotech LLC (SnapGene), among others, are the major vendors competing in the bioinformatics services market.

Please note: This is not an exhaustive list of companies profiled in the report.