Latest News- Bioinformatics Market: Molecular phylogenetics is expected to lead the Application segment during 2024-2028

The Bioinformatics Market is being driven by Reduction in cost of genetic sequencing

The Bioinformatics Market is expected to grow at a CAGR of 16.59% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 13202.7 million. The advancement of DNA sequencing technologies has led to an influx of massive genomic data, necessitating the development of sophisticated bioinformatics tools and software. Commercial solutions from various companies are now available to address the challenges of analyzing Next-Generation Sequencing (NGS) data, which include its vast scale and the requirement for command-line computer languages. These tools employ mathematical and statistical approaches to help researchers and end-users efficiently organize, analyze, and interpret biological information at different levels, from genomic to molecular, thereby revolutionizing diagnostics, epidemiological research, and medical treatment. 

Get more information on Bioinformatics Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Molecular phylogenetics
  • Transcriptomic
  • Proteomics
  • Metabolomics
• Product
  • Platforms
  • Tools
  • Services
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Reduction in cost of genetic sequencing
• Increasing demand for protein sequencing
• Emerging techniques for genome analysis

However, the market also witnesses some limitations, which are as follows:

• Shortage of trained laboratory professionals
• Varying regulations in bioinformatics research and testing
• Complexities and limitations in bioinformatics

Benefits of Buying Global Bioinformatics Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Bioinformatics Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

In the realm of Bioinformatics, the market is witnessing significant growth due to the adoption of advanced technologies like NGS (Next-Generation Sequencing) and genomics instruments for precision medicine. Key players include Illumina, Eurofins Scientific, BGI, NanoString, Indivumed GmbH, Strand Life Sciences, and Healthcare Global Enterprises. Genome sequencing, transcriptomics, and RNA/DNA analysis are driving this trend. Virus research, including sequencing of transmission chains and variability, is crucial for public health control through diagnostic methods and containment measures. Costs of equipment and technologies are decreasing, making these tools more accessible for research platforms. Vaccines and diagnostic methods are also benefiting from these advancements.

Market Research Overview

The Bioinformatics market is a significant segment of the global life science tools and services industry, focusing on computational biology, genomics data analysis, and biological data management. Key technologies include Bioinformatics tools, Next-generation sequencing (NGS), protein structure prediction, and various bioinformatics platforms and software solutions. Factors driving market growth include the increasing prevalence of personalized medicine, genomic data integration, and the expansion of genomic databases for DNA sequence analysis, RNA sequencing analysis, proteomics analysis, and metabolomics data analysis. The aging population, with a predicted increase in individuals over 60 years, further boosts demand for advanced bioinformatics tools and services in clinical bioinformatics and life sciences research.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/