Expected Revenue Growth:
[220 Pages Report] The global bioinformatics market is projected to reach USD 21.8 billion by 2026 from USD 10.7 billion in 2021, at a CAGR of 15.2% during the forecast period.
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What This Report Will Provide?
This study involved four major activities in estimating the size of the bioinformatics market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size.
Major Growth Boosters:
Growing investments in the biology and information technology industries are element driving the global bioinformatics industry forward. Furthermore, governments all around the world are working hard to develop the global bioinformatics business.
COVID-19 Impact on the Bioinformatics Market
Bioinformatics has always had huge potential when it comes to providing essential support to many areas of scientific research. The COVID-19 pandemic was a real-life test for bioinformatics. One of the major focus areas for every country during the COVID-19 pandemic has been to study and understand how to halt the progress of the virus. Next-generation sequencing is the fundamental method for investigating SARS-CoV-2 genomes, which offers basic information about the virus.
Regional Growth Analysis:
North America dominated the bioinformatics market in 2020 and is expected to grow at a 14.7% CAGR during the forecast period. The large share of North America in the global bioinformatics market can be attributed to factors such as government support for genomic research, presence of leading bioinformatics providers, decreased cost of sequencing, increased awareness of bioinformatics services, and increased number of genomic research activities (and the corresponding adoption of bioinformatics) in the region are driving the growth of the bioinformatics market in North America.
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Recent Developments
- Agilent Technology, Inc. launched SureSelect for human exome analysis.
- BGI and the Ministry of Health of Brunei expanded their partnership to carry out extensive cooperation in public health emergency response and public health testing screening and diagnostic services, including reproductive health, personalized drug guidance, early cancer screening, and detection of unknown pathogens by using BGI’s cutting-edge sequencing technology.
- Charles River Laboratories, Inc. entered into a partnership with Fios Genomics to gain access to the expertise of Fios Genomics in the field of bioinformatics, statistics, and biology.
- Eurofins Scientific launched optimized and cost-effective SARS-CoV-2 NGS services for providing full-length viral genome sequences to support researchers globally for the development of vaccines.
- Eurofins Genomics acquired Blue Heron Biotech, a company specializing in advanced gene synthesis, and expanded its portfolio of oligonucleotides, sequencing, and synthetic genes.
- GENEWIZ launched NanoString’s GeoMx DSP service for morphological gene and protein expression analysis.
Frequently Asked Questions (FAQ):
- What is the market size of the bioinformatics market?
- What are some of the major drivers for this market?
- Who are the major players in the bioinformatics market?
- What is the impact of COVID-19 on the bioinformatics market?
- Which region has the highest growth potential in the bioinformatics market?
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