The Global Bioinformatics Market Growth Accelerated By High Demand For Data Analytics Solutions

 
Bioinformatics Market 

Bioinformatics is the application of computer programming to biological data and involves establishing databases to organize and interpret biological and clinical data. Bioinformatics products such as servers, software, and tools help biologists and researchers efficiently analyze large genomic and biological data sets. With the rapid growth of biological data from genomic research and clinical trials, demand for data analytics solutions has increased significantly among pharmaceutical, biotech and academic researchers.

The global bioinformatics market is estimated to be valued at US$ 22.1 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving growth in the bioinformatics market is the increasing adoption of cloud-based bioinformatics solutions. The cloud offers significant benefits such as easy access to data from any location, quick deployment of applications without any upfront infrastructure cost. Moreover, cloud solutions offer scalability to handle large genomic datasets and on-demand data storage and computing capacity. With more bioinformatics tools and databases moving to the cloud, pharmaceutical companies and academic institutes are increasingly adopting cloud-based bioinformatics solutions to gain better data insights in a cost-effective manner. This has accelerated the demand for cloud-based bioinformatics significantly over the past few years and is expected to remain a major trend in the market over the forecast period.


Segment Analysis

The global bioinformatics market is dominated by the sequence analysis sub segment. This is because it helps in faster processing and analysis of large genomic and proteomic datasets. Sequence analysis finds applications in biomarker discovery and drug development which are driving its adoption.

Key Takeaways

The global bioinformatics market demand is expected to witness high growth over the forecast period of 2023 to 2030. Advances in genomics and integration of big data analytics in life sciences are fueling the market expansion. The global bioinformatics market is estimated to be valued at US$ 22.1 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional analysis

North America currently dominates the global bioinformatics market owing to significant investments in research and presence of leading players. However, Asia Pacific is poised to grow at the fastest pace due to increasing government focus on biotechnology and pharmaceutical research in countries like China and India.

Key players

Key players operating in the bioinformatics market are The 3M Company, Dow Corning Corporation, Honeywell International, Inc., Indium Corporation, Henkel AG & Co, KGaA, Parker Chomerics, Laird Technologies, Inc., Momentive Performance Materials, Inc., Fuji Polymer Industries, Co. Ltd., and Shin-Etsu Chemical Co. Ltd. These players are focusing on developing integrated software solutions and collaborating with research institutes to strengthen their positions.

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