This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

Growing applications of bioinformatics across industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals (leading to increased outsourcing of bioinformatics projects) are the major factors that are expected to drive the growth of the bioinformatics services market during the forecast period.

What the Market Looks Like?

[238 Pages Report] 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. Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

COVID-19 Impact on the global Bioinformatics Services Market

Bioinformatics services have 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. Decoding the genome of the novel coronavirus was a crucial step in developing vaccines and for better understanding the mechanism of the virus and how it functions in the human body.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75889439

What are Key Trends in the Market?

The growth of the bioinformatics services market is primarily influenced by the following factors:

• Growing applications of bioinformatics in various industries
• Increasing public-private sector funding for bioinformatics services
• Shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects
• Increasing pharmaceutical and biotech R&D expenditure
• In-house development of bioinformatics solutions and publicly available bioinformatics tools

The bioinformatics services market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2020, Asia Pacific region offered significant opportunities for the growth of the bioinformatics services market. The market growth in Asia Pacific can be attributed to the increasing incidence of genetic diseases, rising number of bioinformatics-based research studies, and growing demand for bioinformatics services from various end users.

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This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

Growing applications of bioinformatics across industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals (leading to increased outsourcing of bioinformatics projects) are the major factors that are expected to drive the growth of the bioinformatics services market during the forecast period.

What the Market Looks Like?

[238 Pages Report] 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. Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

COVID-19 Impact on the global Bioinformatics Services Market

Bioinformatics services have 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. Decoding the genome of the novel coronavirus was a crucial step in developing vaccines and for better understanding the mechanism of the virus and how it functions in the human body.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75889439

What are Key Trends in the Market?

The growth of the bioinformatics services market is primarily influenced by the following factors:

• Growing applications of bioinformatics in various industries
• Increasing public-private sector funding for bioinformatics services
• Shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects
• Increasing pharmaceutical and biotech R&D expenditure
• In-house development of bioinformatics solutions and publicly available bioinformatics tools

The bioinformatics services market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2020, Asia Pacific region offered significant opportunities for the growth of the bioinformatics services market. The market growth in Asia Pacific can be attributed to the increasing incidence of genetic diseases, rising number of bioinformatics-based research studies, and growing demand for bioinformatics services from various end users.

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The global Bioinformatics Services Market size is expected to value at USD 4.1 billion by 2024, due to increasing demand from healthcare sector to carry out various studies such as cell signaling, pathway metabolism, gene-receptor interactions, and target differentiation. Favorable government policies and initiatives coupled with increasing funding for genomics oriented research & development, rising demand for drug discovery as well as biomarker development processes are expected to stimulate the growth of bioinformatics services industry over the forecast period.

In addition, swift decline in cost of DNA sequencing is expected to play major role in future market growth of bioinformatics services market. Globally, the bioinformatics services industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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Massive investment for research & development by both government authorities & private bodies in the areas of metabolomics, proteomics, and transcriptomic is anticipated to foster market requirement of advanced IT solutions for large data storage and enhanced analysis .Studies involving proteomics and genomics require large arrays of structural information, which has to be stored and processed accordingly to extract information. The bioinformatics services helps to analyze and monitor large chunks of data with higher processing rate.

Incorporation of information and communication technology (ICT) infrastructure along with various operating entities or through relocation of data services with the help of cloud computing technology, which is maintained by a third parties, thus driving emerging demand, are predicted to fuel market growth over the next seven years. However, lack of skilled labor force and higher initial cost are some of the key challenges for sustained market growth. In addition, inability to adopt bioinformatics tools and lack of data integration are limiting market progress to a certain extent. Other factor restraining industry growth include high volume statistics management and industry consolidation, particularly applicable for end-user manufactures.

Various types of bioinformatics services include next generation sequencing (NGS), chemoinformatics, microarray data analysis, biological data curation, and scientific software testing services. Next generation sequencing (NGS) consists of targeted sequencing, transcriptome, whole genome, chip sequencing, de-novo assembly, and methyl sequencing analysis. These factors are expected to boost market demand for bioinformatics services in the near future.

The bioinformatics services market is broadly categorized into five major segments based on the application type such as genomics, transcriptomic, proteomics, metabolomics and drug discovery. The transcriptomic is considered as one of the fastest growing segment in the bioinformatics services industry with substantial revenue generation in the last few years.

Growing popularity of the transcriptomic segment is attributed to the rise in number of research projects in the field of transcriptomic and introduction of technological advancements for the study of RNA transcripts using bioinformatics based protocols. The genomics segment has also witnessed substantial growth owing to the growing adoption of real time disease management and shifting trend towards preventive medicine techniques.

The bioinformatics services market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in healthcare sector, increase in the research & development activities in the region, and existence of well-established medical infrastructure. Asia-Pacific region is predicted to hold major market share in the bioinformatics services with massive growth in forecast period.

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Countries such as India, China and Japan are leading the Asia-Pacific market with substantial advancements in the healthcare infrastructure in the region, favorable government policies & initiatives, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the bioinformatics services industry are Accelerys Inc., Qiagen Inc., GVK Biosciences Pvt., Ltd., Illumina Inc., Agilent technologies, Inc., Life Technologies Co., Celera Co., IBM Life sciences Co., Affymetrix, Inc., DNAnexus Co., and Geneva Bioinformatic S.A.

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Growing applications of bioinformatics across industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals (leading to increased outsourcing of bioinformatics projects) are the major factors that are expected to drive the growth of the bioinformatics services market during the forecast period. 

What the Market Looks Like?

[238 Pages Report] 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. Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

COVID-19 Impact on the global Bioinformatics Services Market

Bioinformatics services have 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. Decoding the genome of the novel coronavirus was a crucial step in developing vaccines and for better understanding the mechanism of the virus and how it functions in the human body. 

Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75889439

What are Key Trends in the Market?

The growth of the bioinformatics services market is primarily influenced by the following factors:

• Growing applications of bioinformatics in various industries
• Increasing public-private sector funding for bioinformatics services
• Shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects
• Increasing pharmaceutical and biotech R&D expenditure
• In-house development of bioinformatics solutions and publicly available bioinformatics tools

The bioinformatics services market covers five key geographies—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2020, Asia Pacific region offered significant opportunities for the growth of the bioinformatics services market. The market growth in Asia Pacific can be attributed to the increasing incidence of genetic diseases, rising number of bioinformatics-based research studies, and growing demand for bioinformatics services from various end users.

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What This Report Will Provide?

The bioinformatics services market, by application, is segmented into genomics, chemoinformatics & drug design, proteomics, transcriptomics, metabolomics, and other applications. The significant growth of the segment is attributed to the rising demand for more efficient data management facilities and the increasing number of research studies for the treatment of cancer using transcriptomics.

Expected Revenue Growth:

The global bioinformatics services market is expected to reach USD 3.53 billion by 2023 from USD 1.70 billion in 2018, at a CAGR of 15.7% during the forecast period.

Major Growth Boosters:

Growth in the global bioinformatics services market is mainly driven by the growing applications of bioinformatics in various industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects. The reducing cost of sequencing and growing volume of data generated during sequencing, growing focus on outsourcing for the management of large volumes of data, and the emerging markets are also expected to present growth opportunities for players in the market.

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Study Objectives:

• In 2017, QIAGEN and Centogene (Germany) collaborated to integrate Centogene’s CentoMD rare disease variant database with Qiagen Clinical Insight bioinformatics solution
  
  
• In 2017, NeoGenomics established its first European laboratory in Rolle, Switzerland to expand its geographical presence and increase its sales in Europe.
  
  
• In 2017, QIAGEN acquired OmicSoft Corporation (US) to enhance its multi-omics data analysis bioinformatics services offerings
• In 2016, Eurofins partnered with Institute of Genomics and Integrative Biology (IGIB, India) to launch their MitoSure-Human mitochondrial DNA sequencing and analysis pipeline to support research and genetic screening. The service includes automated bioinformatics analysis using IGIB proprietary Mit-O-Matic pipelineIn 2017, ConvaTec launched its Natura Convex Accordion Flange
  
  
• In 2015, PerkinElmer launched the PerkinElmer Signals Translational—a cloud-based data analysis platform
  
  

Key Questions Addressed in The Report:

• What are the growth opportunities related to bioinformatics service market across major regions in the future?
• Emerging countries have immense opportunities for the growth and adoption of bioinformatics service. Will this scenario continue in the next five years?
• What are the various bioinformatics service segments and their market share in the overall market?
• What are the new trends and advancements in the bioinformatics service market?

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Growing applications of bioinformatics in various industries

In comparison with other conventional methods, bioinformatics services provide a wide range of advantages in terms of cost and time efficiency. Owing to these advantages, the applications of bioinformatics services are increasing in a number of fields such as toxicology, survival analysis, drug discovery and development, clinical diagnostics, disease prediction, and personalized medicine.

Regional Growth Analysis:

This report covers the bioinformatics services market data across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global bioinformatics services market in 2017, followed by Europe. The large share of the North American region is mainly attributed to the presence of leading bioinformatics service providers in the region, decreasing cost of sequencing, increasing number of genomic research activities in the region, high incidence of target diseases (such as cancer and genetic diseases), and favorable funding scenario for bioinformatics-based research.