Bioinformatics Market (2024-2031)
The Bioinformatics Market was valued at $11.73 billion in 2023. This market is expected to reach $31.71 billion by 2031, from an estimated $13.15 billion in 2024, at a CAGR of 13.4% during the forecast period 2024-2031. Bioinformatics Market Size & Forecast The growth of this market is attributed
- Published
- Jan 2024
- Pages
- 198
- Format
- PDF + Excel
- Report ID
- MRHC - 1041048
- Base year
- 2023
- 2023 · BASELINE
- $11.73B
- 2031
- $31.71B
- CAGR 2024–2031
- 13.4%
2023 baseline · 2024–2031 forecast at 13.4% CAGR · hover a bar for the value
Key highlights
By Solutions & Services: In 2024, the Knowledge Management Software Segment to Dominate the Bioinformatics Market
By Application: in 2024, the Genomics Segment to Dominate the Global Bioinformatics Market
By Industry: in 2024, the Healthcare Segment to Dominate the Global Bioinformatics Market
Report summary
| Particulars | Details |
|---|---|
| Page No | 198 |
| Format | |
| Forecast Period | 2024-2031 |
| Base Year | 2023 |
| CAGR | 13.4% |
| 2031 Market Size (Value) | $31.71 billion |
| Segments Covered | By Solutions & Services · Knowledge Management Software · Bioinformatics Platforms · Sequence Analysis & Alignment Platforms · Functional & Structural Analysis Platforms · Other Bioinformatic Platforms · (Note: Other bioinformatic platforms include Pathway Analysis, Network Analysis, Phylogenetic Analysis, Data Visualization, Among others) · Services · Data Storage and Database Management Services · Data Analysis Services · By Application · Genomics · Chemoinformatics · Proteomics · Transcriptomics · Metabolomics · Other Applications · (Note: Other applications include system biology and computational biology, among others) · By Industry · Healthcare · Agriculture · Veterinary · Other Industries · (Note: Other industries include environmental sciences, forensics sciences, and energy, among others) |
| Countries Covered | North America (U.S., Canada), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LATAM), Middle East & Africa |
| Key Companies | 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.) |
Report overview
Segments covered: solutions & service, knowledge management software, bioinformatics platform, sequence analysis & alignment platform, functional & structural analysis platform, other bioinformatic platform, service, data storage, database management service, data analysis service, application, genomic, chemoinformatic, proteomic, transcriptomic, metabolomic, other application, industry, healthcare, agriculture, veterinary, other industry. Regions: North America, Europe, Asia-Pacific, Latin America.
The growth of this market is attributed to the growth of the biotech and pharmaceutical industries, initiatives supporting genomics research, and the rising need to develop novel drugs/drug molecules. Furthermore, untapped markets in emerging economies, growing clinical applications of genomic technologies, and the increasing use of bioinformatics in agriculture are expected to generate growth opportunities for the players operating in this market.
Report infographic
Market dynamics
5 factors across 3 forcesGrowth of the Biotechnology and Pharmaceutical Industries to Drive the Market
The demand for biopharmaceuticals is increasing globally. Biotech companies are focused on expanding their production capacities and capabilities to meet the increasing demand and develop new biopharmaceuticals. For instance, in April 2022, FUJIFILM Diosynth Biotechnologies (U.S.) expanded its BioProcess Innovation Center in Research Triangle Park (U.S.), with plans to equip the facility with analytical instrumentation, high-throughput bioprocessing equipment, and automation technologies.
Bioinformatics has many applications in biotechnology, including automatic genome sequencing, prediction of gene function and protein structure vaccine designing, phylogeny, gene identification, understanding gene and genome complexity, and protein structure, functionality, and folding. Similarly, pharmaceutical companies use bioinformatics throughout the drug discovery and development process. Identifying the drug target is a crucial step in the creation of new drugs. Moreover, bioinformatics tools are used for analyzing the data generated from preclinical and clinical trials as the amount of data generated is huge, and the integration of this generated biological data is necessary for the interpretation of results.
Initiatives Supporting Genomics Research Drives the Bioinformatics Market
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. Therefore, several private organizations and government entities are funding genomics research to improve patient outcomes and strengthen genomics infrastructures. For instance, in July 2021, the National Institutes of Health (U.S.) announced an investment of USD 80 million to support the establishment of the Mendelian Genomics Research Consortium and develop novel methods and approaches to aid researchers in identifying the genetic causes of single gene diseases. Such initiatives generate large amounts of genomics data for which bioinformatics tools are crucial to analyze and interpret this genomics data, driving the market growth.
Table of contents
11 chapters · 112 sections · 198 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Solutions & Service | Knowledge Management Software | Bioinformatics platforms |
| By Application | Genomics | Proteomics |
| By Industry | Healthcare | — |
By Solutions & Service
- The knowledge management software segment is expected to account for the largest share of 42.2% of the bioinformatics market.
- Expanding genomic datasets, growing adoption of precision medicine, growing investments in pharmaceutical R&D, and growing research in the application of genomics for several fields, including agriculture, clinical decision-making, and predictive medicine, support a large share of the segment.
- The explosion of genomic, omics data, and clinical data has created a need for knowledge management solutions.
- These solutions integrate diverse data sources, including genomic sequences, experimental results, clinical records, and references from scientific literature, resulting in an integrated and accessible format for efficient data handling, organization, and analysis.
- However, the bioinformatics platforms segment is expected to grow at the highest CAGR of 14.9% during the forecast period of 2024-2031.
- Bioinformatics platforms are essential tools for researchers, institutions, and organizations involved in life sciences, pharmaceuticals, and healthcare.
- Bioinformatics platforms provide a comprehensive suite of software, tools, and resources that empower scientists to extract meaningful insights from complex biological data, advancing research, drug discovery, and clinical applications.
- Bioinformatics platforms offer a wide range of functions and features that cater to the diverse needs of researchers and professionals across multiple domains, including genomics, proteomics, structural biology, and epidemiology, among others.
- The growing research and development activities in genomics, proteomics, structural biology, and epidemiology are expected to drive the segment growth.
By Application
- The Genomics Segment to Dominate the Global Bioinformatics Market
- The genomics segment is expected to account for the largest share of 43.9% of the market.
- The factors contributing to the segment’s large share are the growing amount of genomics data being generated, the application of genomics in chronic disease management, and the growing prevalence of chronic diseases.
- 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.
- However, the proteomics segment is expected to grow at the highest CAGR of 15.5% during the forecast period of 2024-2031.
- The growing research activities to study proteins, the growing disease prevalence, and the need for new protein biomarkers drive the segment growth.
By Industry
- The Healthcare Segment to Dominate the Global Bioinformatics Market
- The healthcare segment is expected to account for the largest share of the market.
- This segment's large market share is attributed to the wide applications of bioinformatics in the biotechnology and pharmaceutical industry, the growth of the pharmaceutical and biotech industry, and supportive initiatives for the growth of pharmaceutical and biotech companies.
- The rapid expansion and initiatives such as investments and provision of grants and funds to pharmaceutical and biotechnology companies for the manufacture and R&D of biopharmaceuticals are leading in demand for bioinformatics tools.
- For instance, in November 2021, Medical Research Agency (Poland) announced government funding of USD 73.3 million (PLN 300 million) for producing vaccines based on mRNA technology in Poland.
- The healthcare segment is also expected to grow at a higher CAGR during the forecast period.
- The growth of this segment is attributed to the growing prevalence of diseases, the growth of biotech & pharmaceutical industries, and the need for the development of new drugs and biologics.
Geographic analysis
Asia-Pacific
Fastest growthHowever, Asia-Pacific is expected to record the highest CAGR of 14.3% during the forecast period of 2024 to 2031. The high growth of the Asia-Pacific bioinformatics market is attributed to the growing pharmaceutical and biotech industry, growth in genomics research, growing use of genetic engineering in the agriculture sector, and favorable government initiatives in Asian countries to develop novel bioinformatics tools. The pharmaceutical companies in India are developing new chemical and biological entities. For instance, in 2023, the U.S. FDA accepted Glenmark Pharmaceuticals Limited’s (India) investigational new drug (IND) application for potential cancer drug GRC 54276. In addition, the Government of India, in its Union Budget 2023 presentation, advised pharmaceutical companies to focus on research and development. In 2023, the Central Drugs Standard Control Organisation announced that the government is planning to introduce a research-linked incentive program, such as the production-linked incentive (PLI) scheme, to boost research and development of pharmaceutical and biotech products in the country. Asia-Pacific: Fastest-Growing Regional Market
North America
In 2024, North America is expected to account for 44.5% of the global bioinformatics market. The large share of North America is attributed to the favorable government initiatives for genomics research, growing applications of genomic research, declining cost of sequencing, increasing research investments by pharmaceutical and biopharmaceutical companies, and the growing adoption of precision cancer medicine supported by the increasing cancer prevalence.
Competitive landscape
- June 2023
PerkinElmer Inc. (U.S.) launched Signals Research Suite, a unified, cloud-native SaaS platform. It integrates the Revvity Signals Notebook, VitroVivo, and Inventa applications.
- April 2022
PerkinElmer Inc. (U.S.) collaborated with Scitara Corporation (U.S.) for the integration of the PerkinElmer Signals Research Suite informatics platform with Scitara Scientific Integration Platform SIP.
- April 2023
Agilent Technologies Inc. (U.S.) partnered with PathAI, Inc. (U.S.), an AI-powered research services and tools provider, to deliver a solution that combines PathAI’s algorithm development capabilities and Agilent’s assay development expertise.
- 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.)
- DNAnexus, Inc. (U.S.)
Frequently asked questions
The Bioinformatics Market involves the use of software and tools to analyze and interpret biological data, particularly genomic data. It supports advancements in fields like biotechnology, pharmaceuticals, and agriculture.
Cite this report
Meticulous Research. (2024). Bioinformatics Market - Global Opportunity Analysis And Industry Forecast (2024-2031) (Report No. MRHC - 1041048). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/bioinformatics-market-5731