How much is the Bioinformatics Services Market worth?
Growing applications of bioinformatics across industries, growing public-private sector funding for bioinformatics services, and a shortage of skilled bioinformatics experts (leading to increased outsourcing of bioinformatics projects) are driving the growth of the bioinformatics services market. This is the main predictive factor. forecast period.
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The bioinformatics services market is projected to reach USD 5.3 Billion by 2026 from USD 2.5 Billion in 2021, at a CAGR of 15.8% during the forecast period
Based on application, the bioinformatics services market is segmented into genomics, chemoinformatics and drug design, proteomics, transcriptomics, metabolomics and other applications. Large share is attributed to genomics segment due to increasing use of pharmacogenomic research for the development of precision medicine, favorable funding scenario for genomic research, and partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics solutions and services.
Based on type, the bioinformatics services market is segmented into sequencing services, data analysis, drug discovery services, differential gene expression analysis, database and management services, and other bioinformatics services.
Based on specialty, the bioinformatics services market is segmented into medical biotechnology, plant biotechnology, animal biotechnology, environment biotechnology and forensic biotechnology. Medical biotechnology holds the largest share due to the development of new databases for drug discovery
Based on end-users, the bioinformatics services market has been segmented as —academic institiutes and research centers, hospitals and clinics, pharma and biotech companies, CROs and other end users. The large share of academic institutes and research centers segment can be attributed to the growing number of bioinformatics-based research studies, increasing scale of genomics research
North America dominated the global bioinformatics services market
The North American market dominated the bioinformatics services market. The market growth in North America can be attributed to government initiatives for the reimbursement of genomic testing and favorable funding scenario for research activities.
Prominent players in the bioinformatics services market include Illumina (US), Thermo Fisher Scientific (US), Eurofins Scientific (Luxembourg), BGI Group (China), NeoGenomics (US), PerkinElmer (US), CD Genomics (US), Psomagen, Inc. (South Korea), QIAGEN (Germany), GENEWIZ (US), Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios Genomics (UK), and BaseClear (Netherlands), among others.
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Market Segmentation
This report has segmented the bioinformatics services market based on application, type, specialty, end user, and region.
Global Bioinformatics Services Market, by Application
- Genomics
- Chemoinformatics & Drug Design
- Proteomics
- Transcriptomics
- Metabolomics
- Other Applications
Global Bioinformatics Services Market, by Specialty
- Medical Biotechnology
- Animal Biotechnology
- Plant Biotechnology
- Environmental Biotechnology
- Forensic Biotechnology
Global Bioinformatics Services Market, by Type
- Sequencing Services
- Data Analysis
- Drug Discovery Services
- Differential Gene Expression Analysis
- Database and Management Services
- Other Bioinformatics Services
Global Bioinformatics Services Market, by End User
- Academic Institutes & Research Centers
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- CROs
- Other End Users
Global Bioinformatics Services Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa