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. In the rapidly evolving landscape of DNA sequencing technologies, Next-Generation Sequencing (NGS) has brought about a significant increase in data availability. However, analyzing this vast amount of data remains a formidable challenge. To address this issue, numerous companies offer commercial solutions for NGS, providing users with user-friendly interfaces that mitigate the need for command-line computer languages. Advanced bioinformatics tools and software, developed specifically for NGS, enable researchers and other end-users to interpret and utilize biological data at reduced costs. Employing sophisticated mathematical and statistical approaches, these tools facilitate the organization, analysis, and interpretation of genomic, cellular, and molecular data. Bioinformatics solutions for NGS are indispensable in diagnostic applications, 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, Europe, 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:
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.
Key Features in Bioinformatics Market Research Report
Find out which segment is leading the market by accessing the free PDF report
In the realm of Bioinformatics, the market is witnessing significant growth due to the adoption of advanced technologies like NGS (Next-Generation Sequencing) in precision medicine. Key players include Illumina, Eurofins Scientific, BGI, NanoString, Indivumed GmbH, Strand Life Sciences, and Healthcare Global Enterprises. Genomics instruments are used for genome sequencing, transcriptomics, and RNA/DNA analysis. These technologies aid in understanding transmission chains, virus variability, and developing diagnostic methods for viruses such as SARS-CoV-2. Public health control measures rely on containment and vaccines, which are also influenced by bioinformatics. Equipment costs for these technologies are decreasing, making them more accessible for research platforms.
The global life sciences tools and services market encompasses businesses involved in the research and development (R&D) of a diverse range of products and solutions. This market includes manufacturers of capital equipment, instruments, accessories, and consumables utilized in the development of pharmaceuticals and biotechnology products, as well as in laboratory diagnosis of various diseases. Key technologies driving market growth include precision medicine, genome sequencing, and next-generation sequencing (NGS) technologies. Factors such as the increasing global population aging, with a growing proportion over 60 years, will fuel demand for advanced genomics instruments, transcriptomics, and personalized medicine solutions. These trends are expected to significantly expand the market size, as calculated by Technavio based on the combined revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services.. 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/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
