Bioinformatics software helps researchers in analyzing and interpreting vast amounts of diverse genomic data. Bioinformatics is used in genomics for several applications, including genome assembly, functional genomics, comparative genomics, structural genomics, metagenomics, and cancer genomics. There has been a significant increase in funding for genomics research due to increased research activities, which has led to the development of advanced sequencing technologies and bioinformatics tools that have made it possible to analyze vast amounts of genomic data. Genomics research is crucial in discovering new drugs, developing personalized medicines, and improving researchers’ understanding of disease mechanisms.
Advancing Genomics Research Using Bioinformatics
Genomic data encompasses various types, including DNA sequences, gene expression levels, epigenetic modifications, and protein interactions. Integration of such diverse data makes it difficult to obtain results that can be used for research or diagnostics. Bioinformatics software helps researchers in analyzing and interpreting vast amounts of diverse genomic data. Bioinformatics is used in genomics for the following leading applications: genome assembly, functional genomics, comparative genomics, structural genomics, metagenomics, and cancer genomics, among others.
A substantial amount of genomic data is generated every year due to advancements in sequencing technologies and research initiatives. For instance, according to the National Human Genome Research Institute (U.S.), around 40 exabytes of storage will be required to store the genome-sequence data generated worldwide by 2025. The data leads to more information about genetics to researchers, however, it also presents several challenges in terms of data storage, processing, analysis, and interpretation. This generates a demand for bioinformatics to process, analyze, and interpret large amounts of genomic data, ultimately driving the segment’s growth.
The growth of the bioinformatics market is attributed to the biotech and pharmaceutical industries, initiatives supporting genomics research, and the rising need to develop novel drugs/drug molecules.
Emerging Applications in Agriculture
The global population is increasing rapidly; however, the agricultural output is decreasing due to environmental factors. Advancements in genomics and genetics are enabling researchers to study the effects of environmental factors on the genotypic and phenotypic traits of crops and livestock. Moreover, there is a need for improved seed and crop strains that are climate, disease, biotic, and abiotic stress-resistant and provide higher yields and better nutrition, which can be fulfilled by genetically engineering seeds and plants. Genomic research on plants generates vast amounts of data. Bioinformatics tools are used to accurately analyze and interpret this data. Additionally, bioinformatics tools are also used for gene discovery, enabling researchers to develop methods to improve seed quality and incorporate added micronutrients in the plants, benefiting human health.
Insights from Bioinformatics Market Analysis
Recent insights from Meticulous Research® provide valuable perspectives on the future trajectory of the Bioinformatics Market. Projections suggest a potential worth of $27.98 billion by 2030, driven by a remarkable Compound Annual Growth Rate (CAGR) of 13.3% from 2023 to 2030. At the heart of this transformation is the growth of the biotech and pharma industries. Pharma and biotech companies use bioinformatics for drug discovery & development processes along with the development of new biologics.
As the global landscape takes shape, the North American region is expected to hold a substantial market share in 2023. Notably, influential industry players, including Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Dassault Systèmes SE (France), Eurofins Genomic LLC (Germany), Revvity, Inc. (U.S.), Azenta, Inc. (U.S.), and DNAnexus, Inc. (U.S.) have established a broad presence across various regions, leading to the widespread adoption of their bioinformatics solutions & services. In essence, this comprehensive overview from Meticulous Research serves as a gateway into the bioinformatics market.
The biotech and pharma industry has propelled the demand for bioinformatics solutions & services. Furthermore, the growing application of bioinformatics in the agriculture industry will offer lucrative opportunities for the players operating in the market.
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