According to IMARC Group’s latest report, titled “”, the global bioinformatics market reached a value of US$ 9.4 Billion in 2020. Bioinformatics stands for an interdisciplinary field of science that integrates software tools and methodologies for storing, retrieving, and analyzing biological data. It also helps in studying genomic data and biological networks using the principles of biology, mathematics, statistics, and information technology (IT). This scientific field is extensively used in manufacturing molecular medicines, drug development, gene therapy, and forensic analysis of microbes.
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Rapid advancements in the biotechnology sector, along with the rising demand for nucleic acid and protein sequencing for proteomics and drug discovery, have catalyzed the market for bioinformatics. Additionally, the increasing deployment of software tools for data accumulation and determination of molecular mechanisms has led to the development of efficient diagnostic tests and treatment methods. Moreover, bioinformatics is also adopted in the agriculture industry to develop efficient methodologies for improving crop productivity. Additionally, several technological advancements in the healthcare sector have led to the inception of artificial intelligence (AI) and big data technology, thereby propelling the market growth. The rising investments in R&D activities, along with the increasing preferences for personalized medicines, are anticipated to bolster the bioinformatics market in the coming years. Looking forward, IMARC Group expects the bioinformatics market to grow at a CAGR of around 15% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- ABM Industries
- Agilent Technologies
- Biomax Informatics
- Data4Cure Inc.
- Dnaster Inc.
- Illumina Inc.
- Life Technologies
- PerkinElmer Inc.
- Qiagen N.V.
- Quest Diagnostics
- Sophia Genetics SA
- Thermo Fisher Scientific Inc.
- Waters Corp
- WuXi Nextcode Genomics
Breakup by Product and Service:
- Knowledge Management Tools
- Generalized Knowledge Management Tools
- Specialized Knowledge Management Tools
- Bioinformatics Platforms
- Surgical Simulation Platforms
- Sequence Analysis, Alignment and Manipulation Platforms
- Structural and Functional Analysis Platforms
- Bioinformatics Services
- Data Analysis Services
- Database Management Services
Breakup by Application:
- Chemoinformatics and Drug Design
Breakup by End-Use Sector:
- Medical Biotechnology
- Animal Biotechnology
- Agricultural Biotechnology
- Environmental Biotechnology
- Forensic Biotechnology
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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