Bioinformatics Industry

The global bioinformatics market size was valued at USD 10.1 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030. Growing demand in the process of novel drug R&D and private and public funding initiatives to support R&D activities are expected to be the key factors driving the market during the forecast period. Furthermore, the introduction of user-friendly and readily available bioinformatics software such as RasMol, AUTODOCK, BALL, and Bioclipse, and growing market usage of these tools for the accurate and effective analysis of biomarkers discovery programs that assist in toxicity detection during the initial stage of the drug development process are expected to drive industry growth over the forecast period.

Bioinformatics software and tools are being used as integrated solutions that provide algorithms and statistical methodologies for data analysis and help integrate data management and analysis for applications such as next-generation sequencing, genomic and proteomic structuring, modeling, and three-dimensional drug designing. Increasing R&D initiatives in the proteomics and genomics market, including other related ‘-omics’ fields, are further expected to support market growth to meet data storage and analysis demands.

Gather more insights about the market drivers, restrains and growth of the Global Bioinformatics market

Bioinformatics Market Segments:

Application Insights

The genomics application segment accounted for a significant revenue share in 2022. Growing demand for pharmacogenomics in drug development and sequence screening and the introduction of technological advancements aimed at managing large sets of genomic data are key factors accounting for this large share. Based on application, the market is segmented into genomics, molecular phylogenetics, metabolomics, proteomics, transcriptomics, cheminformatics and drug designing, and others.

Product Insights

The bio-content management segment led the market with a revenue share of 39.6% in 2022. High usage rates of bioinformatics tools and software in database management are one of the primary reasons attributed to its large share, as it efficiently provides easy data sharing with external databases and resources and promotes data integration. The genetic sequence analysis platforms segment is also expected to witness significant growth during the forecast period due to the rapidly growing demand for whole-genome and exome sequencing technologies as a result of exponentially reduced costs of genetic sequencing.

Data compatibility and improved data sharing and collaboration are ensured by adherence to guidelines set out by organizations such as the Human Genome Variation Society (HGVS), Genomic Data Commons (GDC), and Minimum Information About a Microarray Experiment (MIAME). In April 2022, ATCC entered into an agreement with Qiagen to share sequencing data from its collection of animal and human cell lines and biological materials. Qiagen will form a database from this information and use it in the development and delivery of high-value content for the pharma and biotechnology industries, which helps in knowing about new diseases and the development of new therapeutic targets.

Regional Insights

North America dominated the market and accounted for a revenue share of 43.6% in 2022. The majority of the revenue is generated from the U.S. and Canada, driven by the extensive presence of top research organizations, academic institutions, and bioinformatics businesses in the region. Increasing investments in the research & development of new and innovative technologies related to molecular biology and genome sequencing is expected to boost the regional market. For instance, in June 2022, LatchBio, California’s biotechnology research startup, launched an end-to-end bioinformatics platform that handles big biotech data to accelerate scientific discovery.

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• The global proteomics market size was estimated at USD 24.29 billion in 2023 and is projected to grow at a CAGR of 13.10% from 2024 to 2030.
• The global genomics market size was valued at USD 32.65 billion in 2023 and is projected to witness a compound annual growth rate (CAGR) of 16.5% from 2024 to 2030.

Key Companies & Market Share Insights

Industry participants are involved in the R&D of genetic and proteomic sequencing to enhance DNA and RNA sequencing capabilities to reduce genome sequencing costs. The development of next-generation sequencing technologies is expected to drive the bioinformatics industry over the forecast period. For instance, in March 2021, Agilent Technologies Inc. introduced a highly customizable and robust system ‘SureSelect’ for the analysis of human exome.

In another instance, in January 2020, Charles River Laboratories Inc. collaborated with Fios Genomics to gain access to the latter’s expertise in biology and bioinformatics. Furthermore, in January 2021, Illumina announced the launch of a cloud-based bioinformatics platform, as well as the Pan-Cancer IVD Test to improve its cancer detection efforts. Following are some of the major players in the global bioinformatics market:

• DNAnexus Inc.
• Seven Bridges Genomics
• BGI Group
• Partek Inc.
• Thermo Fisher Scientific
• Qiagen
• Agilent Technologies
• Illumina
• PerkinElmer

Segments Covered in the Report

Grand View Research has segmented the global bioinformatics market report based on product, application, and region:

Bioinformatics Product Outlook (Revenue, USD Million, 2018 - 2030)

• Bioinformatics Platforms
  • Sequence Analysis Platforms
  • Sequence Manipulation Platforms
  • Sequence Alignment Platforms
  • Structural and Functional Analysis Platforms
  • Others
• Bioinformatics Services
  • Sequencing
  • Database Management
  • Data Analysis
  • Others
• Biocontent Management
  • Generalized Biocontent
  • Specialized Biocontent

Bioinformatics Application Outlook (Revenue, USD Million, 2018 - 2030)

• Genomics
• Molecular Phylogenetics
• Metabolomics
• Proteomics
• Transcriptomics
• Cheminformatics and drug designing
• Others

Bioinformatics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

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