Bioinformatics is anticipated to grow at a CAGR of 12.3% during the forecast period (2023-2030). 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, modelling, and three-dimensional drug designing. The growing adoption of Bioinformatics in the prediction of the three-dimensional structure of biological macromolecules such as proteins, RNA, and DNA is the key factor supporting the growth of the market globally. Additionally, Researchers can now not only benefit from kits and services to make their own studies on RNA structure but also from the databases generated from cell lines and different tissues. Hence, the market players are also focusing on introducing RNA biology and applying new discoveries to advance therapeutic research that further bolsters market growth. For instance, in February 2023, Eclipse Bioinnovations, an RNA genomics company developing and commercializing novel, data-driven technologies that interrogate RNA, launched its eSHAPE™ suite of technologies that enable exploration of RNA secondary structure from RNA samples. 

Segmental Outlook 

The global bioinformatics market is segmented on the product & services and application. Based on the product & services, the market is sub-segmented into knowledge management tools, bioinformatics platforms and bioinformatics services. Based on the application, the market is sub-segmented into metabolomics, transcriptomics, proteomics, genomics and others (chemoinformatics). Among the applications, the genomics sub-segment is anticipated to hold a considerable share of the market owing to the rise in development of technologies like next-generation sequencing that allow scientists to study the genetic sequences that comprise the human genome, bioinformatics is also crucial to ensuring the reliability of these scientific results.

The Bioinformatics Platforms Sub-Segment is Anticipated to Hold a Considerable Share of the Global Bioinformatics Market

Among the products & services, the bioinformatics platforms sub-segment is expected to hold a considerable share of the global bioinformatics market.  The segmental growth is attributed to the growing influence of computer networks that have allowed easy access to biological data and enabled the development of software programs for effortless analysis. Researchers can easily import files from existing data stacks and access dozens of prominent bioinformatics pipelines and data visualization tools, like CRISPResso2, RNA-Seq, and AlphaFold, using any browser. For instance, in June 2022, LatchBio launched an end-to-end bioinformatics platform for handling big biotech data to accelerate scientific discovery. It allows biologists to organize data and run processes, bioinformaticians to upload new workflows, and computational biologists to do downstream analysis.

Regional Outlook

The global Bioinformatics market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia Pacific is anticipated to hold a prominent share of the market across the globe, owing to an increase in bioinformatics platform applications and the need for better tools in drug development. The key market players include BGI Group, GENEWIZ, Inc., Macrogen, Inc., MedGenome Lab Pvt. Ltd., Novogene and others.

Global Bioinformatics Market Growth, by Region 2023-2030

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Bioinformatics Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to 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.

Regional growth is attributed to adoption of advanced technology and increase in demand for better bioinformatics tools, that are required in drug discovery and development process. The presence of skilled and trained bioinformaticians and the expected strong development of the region’s IT sector are anticipated to enhance the capability of providing outsourcing services to developed economies. Supportive government policies are also expected to drive the growth of this region over the forecast period. The key market player include Biomatters Inc., DNAnexus., Illumina Inc., QIAGEN N.V., Thermo Fisher Scientific Inc. and others.

Market Players Outlook

The major companies serving the bioinformatics market include Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Illumina Inc., Qiagen N.V., Thermo Fisher Scientific Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, PacBio, a developer of highly accurate sequencing solutions, collaborated with the University of Tokyo, Graduate School of Medicine to study the use of long-read sequencing and novel bioinformatics methods in the hopes of better understanding the genetic causes of certain rare diseases in individuals.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bioinformatics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.