Bioinformatics Market by Application (Chemoinformatics & Drug Design, Genomics, and Metabolomics), Product & Service, End User, and Region - Global Industry Analysis, Opportunities and Forecast up to 2029

Bioinformatics Market Size

The global Bioinformatics market size was valued at $20.10 billion in 2023 and is projected to reach $34.66 billion by 2029, growing at a CAGR of 9.5% during the forecast period. 

Bioinformatics Market Dynamics

• Increasing public-private sector funding for bioinformatics, rising demand for personalized medicine, and declining costs of genome sequencing are contributing to the market's growth. 

• Additionally, the rising adoption of blockchain technology and cloud computing, integration of machine learning and AI in healthcare, investments by leading IT companies in the development of bioinformatics solutions are creating ample opportunities for the market.

• However, the lack of interoperability and multiplatform capabilities, and shortage of skilled bioinformatics professionals are restraining the market growth.

Bioinformatics Market Overview

Bioinformatics is a combination of biology and information technology, which links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, including biomedicine. It uses software tools for database creation, data management, data warehousing, data mining, and others. The field covers many advanced and specialized areas of life such as structural genomics, functional genomics, DNA microarrays, comparative genomics, and medical information. Hence, these aforementioned factors boost the global bioinformatics market share.

By Application, the genomics Segment Emerge as the Dominant Segment

The genomics segment is emerged as the dominant segment during the forecast period. The increasing use of pharmacogenomic research for the development of precision medicine, the growing favorable funding scenario for genomic research, and the increasing partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics tools and software are the major factors contributing to the growth of the bioinformatics market for genomics.

By Geography, North America Region Dominates by Being the Largest Market for Bioinformatics

North America dominated the bioinformatics market. The bioinformatics market in the US is expected to offer growth opportunities in the coming years owing to the increasing incorporation of EHR in hospitals. Many major global players are also based in the US, owing to which the country has become a center of innovation in the bioinformatics market. Government support for genomic research, the presence of leading bioinformatics providers, decreased cost of sequencing, increased awareness of bioinformatics services, and increased number of genomic research activities (and the corresponding adoption of bioinformatics) in the region are driving the growth of the bioinformatics market in North America. 

Some of the Key Players Profiled in the Report Include:

• Agilent Technologies, Inc
• Biomax Informatics AG
• Genedata AG
• Illumina, Inc
• NeoGenomics Laboratories
• Perkin Elmer, Inc
• Thermo Fisher Scientific, Inc

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Product & Service:
• Knowledge Management Tools
• Bioinformatics Platforms
• Bioinformatics Services

Market by, Application:
• Chemoinformatics & Drug Design
• Genomics
• Metabolomics
• Proteomics
• Transcriptomics
• Other Applications

Market by, End User:
• Animal Biotechnology
• Environmental Biotechnology
• Forensic Biotechnology
• Medical Biotechnology
• Plant Biotechnology
• Other End Users

Market by, Geography:

The Bioinformatics Market report also analyzes the major geographic regions and countries for the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis.

Table Of Content

1 Market Overview            
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders       
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology          
    3.1 Identification of Data      
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       
             
4 Market Dynamics           
    4.1 Market Drivers       
           4.1.1 Increasing Demand for Personalized Medicine
           4.1.2 Increasing Public-Private Sector Funding for Bioinformatics
    4.2 Market Restraints       
           4.2.1 High Costs of Bioinformatics Software and Services
    4.3 Market Opportunities      
           4.3.1 Adoption of Blockchain Technology and Cloud Computing
    4.4 Market Challenges       
           4.4.1 Dearth of Skilled Professionals
    4.5 Impact of COVID-19 on Bioinformatics Market    
             
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Bioinformatics Market by, Product & Service       
    6.1 Overview       
    6.2 Knowledge Management Tools     
    6.3 Bioinformatics Platforms      
    6.4 Bioinformatics Services      
             
7 Global Bioinformatics Market by, Application        
    7.1 Overview       
    7.2 Chemoinformatics & Drug Design     
    7.3 Genomics       
    7.4 Metabolomics       
    7.5 Proteomics       
    7.6 Transcriptomics       
    7.7 Other Applications       
             
8 Global Bioinformatics Market by, End User        
    8.1 Overview       
    8.2 Animal Biotechnology      
    8.3 Environmental Biotechnology      
    8.4 Forensic Biotechnology      
    8.5 Medical Biotechnology      
    8.6 Plant Biotechnology      
    8.7 Other End Users       
             
9 Global Bioinformatics Market by, Geography        
    9.1 Overview       
    9.2 North America       
             9.2.1 US
             9.2.2 Canada
             9.2.3 Mexico
    9.3 Europe        
             9.3.1 Germany
             9.3.2 France
             9.3.3 UK
             9.3.4 Italy
             9.3.5 Spain
             9.3.6 Rest of Europe
    9.4 Asia Pacific       
             9.4.1 China
             9.4.2 Japan
             9.4.3 India
             9.4.4 South Korea
             9.4.5 Australia
             9.4.6 New Zealand
             9.4.7 Rest of Asia Pacific
    9.5 South America       
             9.5.1 Brazil
             9.5.2 Argentina
             9.5.3 Chile
             9.5.4 Rest of South America
    9.6 Middle East & Africa      
             9.6.1 UAE
             9.6.2 Saudi Arabia
             9.6.3 Qatar
             9.6.4 Iran
             9.6.5 South Africa
             9.6.6 Rest of Middle East & Africa
             
10 Key Developments           
             
11 Company Profiling           
    11.1 Agilent Technologies, Inc      
             11.1.1 Business Overview
             11.1.2 Product/Service Offering
             11.1.3 Financial Overview
             11.1.4 SWOT Analysis
             11.1.5 Key Activities
    11.2 Biomax Informatics AG      
    11.3 Genedata AG       
    11.4 Illumina, Inc       
    11.5 NeoGenomics Laboratories      
    11.6 Perkin Elmer, Inc       
    11.7 Thermo Fisher Scientific, Inc