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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Bioinformatics is the application of computer technology for the management and analysis of biological data. It includes storage, analysis, and dissemination of biological data. Bioinformatics uses computer programs for a variety of applications, including determining gene & protein functions, establishing evolutionary relationships, and predicting the three-dimensional shapes of proteins.

What the Market Looks Like?

MarketsandMarkets forecasts 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. North America dominated the bioinformatics market, with a share of 45.0% in 2020, followed by Europe and Asia Pacific.

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. Bioinformatics pipelines and biological & host-virus interaction databases are the critical tools for calculating such data and furthering comprehension of SARS-CoV-2.

Many government bodies and private organizations across the globe are increasingly investing in the field of bioinformatics. These investments have largely resulted in data and technological advancements in bioinformatics services, which, in turn, have improved the quality of these services. 

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39

What are Key Trends in the Market?

The growth of the Bioinformatics Market is primarily influenced by the following factors:

• Increasing public-private sector funding for bioinformatics
• Increasing demand for personalized medicine
• Increasing pharmaceutical and biotechnology R&D expenditure
• Decreasing costs of genome sequencing

The rapid advancements in next-generation sequencing (NGS) technologies have generated a large volume of biological data, and the growth of this data volume is increasing with the growing adoption of NGS. Data analysis is necessary, as a lot of information is still unexplored in genome analysis. Hence, data that remains after bioinformatics analysis carries huge importance and can be reused. The current solutions do not adequately solve the challenges of data management in bioinformatics.

Read more about Bioinformatics Market
@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=39

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.

Request for sample pages  @  https://www.marketsandmarkets.com/requestsampleNew.asp?id=75889439

Bioinformatics is the application of computer technology for the management and analysis of biological data. It includes storage, analysis, and dissemination of biological data. Bioinformatics uses computer programs for a variety of applications, including determining gene & protein functions, establishing evolutionary relationships, and predicting the three-dimensional shapes of proteins.

What the Market Looks Like?

MarketsandMarkets forecasts 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. North America dominated the bioinformatics market, with a share of 45.0% in 2020, followed by Europe and Asia Pacific. 

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. Bioinformatics pipelines and biological & host-virus interaction databases are the critical tools for calculating such data and furthering comprehension of SARS-CoV-2.

Many government bodies and private organizations across the globe are increasingly investing in the field of bioinformatics. These investments have largely resulted in data and technological advancements in bioinformatics services, which, in turn, have improved the quality of these services. 

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39

What are Key Trends in the Market?

The growth of the Bioinformatics Market is primarily influenced by the following factors:

• Increasing public-private sector funding for bioinformatics
• Increasing demand for personalized medicine
• Increasing pharmaceutical and biotechnology R&D expenditure
• Decreasing costs of genome sequencing

The rapid advancements in next-generation sequencing (NGS) technologies have generated a large volume of biological data, and the growth of this data volume is increasing with the growing adoption of NGS. Data analysis is necessary, as a lot of information is still unexplored in genome analysis. Hence, data that remains after bioinformatics analysis carries huge importance and can be reused. The current solutions do not adequately solve the challenges of data management in bioinformatics.

Read more about Bioinformatics Market
@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=39

According to the new market research report ” Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture)”, global bioinformatics market is expected to account for USD 7,063.7 billion in 2018. It is expected to reach USD 13,901.5 billion by 2023, at a CAGR of 14.5% during the forecast period.

Major Growth Drivers:

Growth of the bioinformatics market is driven by the growing demand for nucleic acid and protein sequencing, increasing government initiatives and funding, and increasing use of bioinformatics in drug discovery and biomarker development processes. With the introduction of upcoming technologies such as nanopore sequencing (third generation sequencing technique) and cloud computing, the market is expected to offer significant opportunities for manufacturers of bioinformatics solutions.

Expected Revenue Growth:

[195 Pages Report] The global bioinformatics market is expected to account for USD 7,063.7 billion in 2018. It is expected to reach USD 13,901.5 billion by 2023, at a CAGR of 14.5% during the forecast period.

Download PDF Brochure:  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39

Accessories to Fuel the Growth of Bioinformatics Market :

Bioinformatics is the application of computer technology for the management and analysis of biological data. It includes collection, storage, retrieval, manipulation, and modelling of data for analysis, visualization, or prediction through algorithms and software.

However, factors such as a dearth of skilled personnel to ensure proper use of bioinformatics tools and lack of integration of a wide variety of data generated through various bioinformatics platforms are hindering market growth.

By Application, the metabolomics segment is expected to grow at the highest CAGR during the forecast period

Factors such as the availability of research funding and government support are fueling market growth. However, metabolomes cannot be easily identified or figured from reconstructed biochemical pathways due to enzymatic diversity, substrate ambiguity, and difference in regulatory mechanisms. Hence, the annotation of unknown metabolic signals is the main hindrance to growth of the metabolomics segment.

In 2018, The APAC market is expected to grow at the highest CAGR during the forecast period

The market in the Asia Pacific region is expected to offer significant opportunities for players to offset revenue losses incurred in mature markets. Emerging countries in this region are witnessing growth in their GDPs and a significant rise in disposable income levels. This has led to increased healthcare spending by a larger population base, healthcare infrastructure modernization, and rising penetration of cutting-edge research and clinical laboratory technologies, including bioinformatics, in Asia Pacific countries. These factors are expected to provide significant growth opportunities to bioinformatics companies operating in this region.

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Key Market Players

Thermo Fisher Scientific, Eurofins Scientific, Illumina, Perkinelmer, Inc., Qiagen Bioinformatics, Agilent Technologies, Dnastar, Waters Corporation, Sophia Genetics, Partek, Biomax Informatics AG, Wuxi Nextcode, Beijing Genomics Institute (BGI)