Bioinformatics Market Is Set To Reach USD 28.6 Billion By 2030 With CAGR Of 13.73% | Marketdigits

(MENAFN– GlobeNewsWire – Nasdaq) The Global Bioinformatics Market was valued USD 10.23 Billion in 2023 and projected to reach USD 28.6 Billion by 2030, growing at a CAGR of 13.73% during the forecast period of 2023-2030

Richmond, Feb. 09, 2024 (GLOBE NEWSWIRE) — According to a research report ” Bioinformatics Market” , by tools Type (BLAST, BioPerl, InterMine, Others), Services (Genome Sequencing, RNA sequencing, Metagenomic Analysis, Epigenomic, Others), Application (Drug discovery, Personalized medicine, Preventive medicine, Transcriptions, Metabolomics, Gene therapy, Others) Sectors (Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Others) and Region – Global Forecast to 2030.

Global Bioinformatics Market Report Scope:

Report Details
Market size value in 2023 USD 10.23 Billion
Market size value in 2030 USD 28.6 Billion
CAGR (2023-2030) 13.73%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Offering, Component, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
  • Agilent Technologies Inc.

Sample of Companies Covered

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TOC Covers in Depth & Breath on Bioinformatics Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits .

Market Overview

The fusion of biology and information technology has given rise to a novel field of study known as bioinformatics. This interdisciplinary branch of research seamlessly integrates computer science, biology, chemistry, mathematics, and statistics into a unified discipline. Bioinformatics primarily focuses on the analysis of biological data and the development of innovative software tools for biological applications. Several factors drive the growth of this market, including the continuous advancement of bioinformatics tools propelled by new cutting-edge technologies. The ongoing progress in genetic research is steering us towards the era of personalized medicine, where a patient’s genetic profile informs the selection of the most suitable drug for their treatment. As the field of systems biology evolves in tandem with personalized medicine, scientists gain the capability to employ tools and technology to comprehend disease mechanisms at molecular, cellular, tissue, organ, individual, and population levels. Bioinformatics discoveries hold the potential to translate into advancements adopted by the healthcare system and the biomedical industry, manifesting in diagnostic kits, analysis programs, and more. The integration of artificial intelligence has facilitated the classification of diverse bioinformatics data for disease identification and the exploration of genetic causes behind specific diseases. The market is further propelled by factors such as disease monitoring and prevention, enhanced precision in clinical medicine, and the expansion of the pharmaceutical sector.

Major vendors in the global Bioinformatics Market:

  • Agilent Technologies Inc.

  • BioScience

  • Eurofins Genomics LLC

  • Fios Genomics

  • Illumina, Inc.

  • NeoGenomics Laboratories

  • Perkin Elmer Inc.

  • QIAGEN N.V.

  • Thermo Fisher Scientific Inc.

  • Waters Corporation

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Advancement of medical discovery and development of treatments

A key driver for the global Bioinformatics Market is the inherent complexity, time consumption, and high costs associated with the drug discovery process. Typically, it takes around 5 years to develop a candidate drug, with the subsequent clinical phases extending the timeline, leading to potential commercial availability and accumulating a total cost exceeding 700 million dollars. The pharmaceutical industry has shifted its focus from the traditional trial-and-error approach in drug discovery to a more rational, structure-based drug design strategy. A successful and reliable drug design process has the potential to significantly decrease the time and costs involved in developing pharmacologically useful agents.

Computational methods play a crucial role in predicting drug-likeness, involving the identification and elimination of candidate molecules unlikely to survive the later stages of discovery and development. Genetic algorithms are utilized for predicting drug-likeness. Genomics has emerged as a major source of drug targets, and bioinformatics plays a critical role in identifying and validating novel targets, thereby minimizing investments in laboratory resources. With regularly updated public databases, bioinformatics contributes by providing functional information about target candidates and correlating this information with biological pathways. Bioinformatics tools are instrumental in understanding the mode of action, and efficacy of a given compound, and explaining the pathophysiology of a disease. Numerous tools have been developed for drug discovery, including a comprehensive bioinformatics software package called BioSuite. This integrated package encompasses functions for macromolecular sequence and structural analysis, cheminformatics, and algorithms designed to assist in drug discovery. Additionally, utility software has been developed for high-throughput virtual screening using AutoDock, a molecular-docking-based virtual screening tool that significantly reduces the number of chemical compounds to be investigated in drug discovery.

Market Dynamics

Drivers:

  • Advancement of medical discovery and development of treatments

  • Disease monitoring and prevention

  • Improving the overall effectiveness and precision of clinical medicine

  • the expansion of the pharmaceutical sector

Opportunities:

  • investments in biology and information technology sectors

  • development of targeted therapy

  • demand for immediate solutions

Demand for immediate solutions

The decoding of genomic data reveals profound biological insights that have the potential to drive significant scientific and economic advancements. In the pre-genomic era, the focus was on the massive task of sequencing the human genome. However, in the post-genomic era, the emphasis has shifted towards extracting valuable information embedded in the genomic code. Researchers investigating various organisms, be it microbes, plants, or animals, now have access to comprehensive DNA sequence data. The wealth of genomic information is poised to play a pivotal role in diverse areas. Researchers studying humans or other organisms, with existing or upcoming genome sequence data, can access all the necessary information related to the complete DNA sequence. The field of bioinformatics is anticipated to have a transformative impact, significantly enhancing our understanding across various domains. It is projected that bioinformatics research will emerge as a crucial contributor to the global economy, already demonstrating its influence in fields such as pharmaceuticals, drug discovery, agriculture, healthcare, and environmental studies. The tools and insights derived from bioinformatics research are expected to revolutionize the pharmaceutical industry, leading to advancements in drug discovery. Additionally, bioinformatics is poised to contribute to the improvement of agriculture, healthcare practices, and environmental management. The potential for bioinformatics tools to enhance our ability to cure inherited human diseases and develop new medicines further underscores its importance in shaping the future of scientific and economic success.

North America dominates the market for Bioinformatics.

The dominant position of the North American region in the market can be attributed to several factors. These include the increase in research activities related to nucleic acids and genetic engineering, augmented budget allocations for novel drug discovery employing proteomic and metagenomic approaches, and an increasing awareness of biological data. The region’s bioinformatics market is further propelled by ongoing innovations in molecular biology procedures, widespread adoption of advanced healthcare technologies, and a notable prevalence of genomic and proteomic research studies. The United States significantly contributes to research endeavours in drug discovery, genomics, and proteomics structure prediction. Various academic institutions and research centers receive substantial funding from both government entities such as the National Institute of Health and private organizations like the Gates and Melinda Foundation. These funds support the development of diverse bioinformatics tools and devices capable of managing the substantial volume of data generated to get disease prognosis and treatment options. Given the substantial amount of genomic and proteomic data produced in the United States, considerable investments are into database development and the effective management of biological data in the country. Furthermore, significant investments, both in public and private sectors, are dedicated to gene therapy and drug development research, fueled by the higher expenditures by U.S. consumers on innovative drugs. This trend is driven by evolving consumer preferences towards new drugs, prompting continuous engagement by research institutes in novel drug discovery initiatives.

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The Drugs Discovery Segment is anticipated to hold the Largest Market Share during the Forecast Period

In the global Plant Based Food Market, the Packaging segment comprises various categories such as Drug discovery, Personalized medicine, Preventive medicine, Transcriptions, Metabolomics, Gene therapy, and Others. Bioinformatics plays a pivotal role in multiple facets of drug discovery, drug metabolism, and pharmacology. In the domain of drug discovery, bioinformatics facilitates the efficient examination and understanding of extensive biological data, streamlining processes such as target identification, refinement of lead compounds, and the anticipation of interactions between drugs and their targets. It assists in pinpointing and characterizing potential drug targets through thorough genomic and proteomic analyses. Moreover, bioinformatics aids in forecasting drug metabolism and pharmacokinetic properties, providing valuable insights into the safety and effectiveness of potential drug candidates. Additionally, it contributes to pharmacology by enabling the analysis of interactions between drugs, adverse reactions to drugs, and personalized medicine approaches. The amalgamation of computational tools and algorithms with biological and chemical data has expedited the drug discovery process, enhanced success rates, and lowered costs. In essence, bioinformatics has evolved into an indispensable tool for the development of innovative therapeutics and the enhancement of drug efficacy and safety.

Segmentations Analysis of Bioinformatics Market: –

  • By Product Type

    • BLAST

    • BioPerl

    • InterMine

    • Others

  • By Services

    • Genome Sequencing

    • RNA sequencing

    • Metagenomic Analysis

    • Epigenomic

    • Others

  • By Application

    • Drug discovery

    • Personalized medicine

    • Preventive medicine

    • Transcriptions

    • Metabolomics

    • Gene therapy

    • Others

  • By Sectors

    • Medical Biotechnology

    • Animal Biotechnology

    • Plant Biotechnology

    • Environmental Biotechnology

    • Others

  • By Region

    • North America

    • Latin America

    • Europe

    • Asia Pacific

    • Middle East & Africa

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