The report "Bioinformatics
Market by Product & Service (Knowledge Management Tools, Bioinformatics
Platforms, Data Analysis, Structural Analysis, Services), Applications
(Genomics, Proteomics, Transcriptomics), & Sectors (Medical, Animal) -
Global Forecast to 2027", was valued at USD 10.1 billion in 2022 and
is projected to reach USD 18.7 billion by 2027, at a CAGR of 13.0%.
Bioinformatics is a rapidly emerging market in the
healthcare industry. Bioinformatics is the science of using computers to
analyze and interpret biological data. It is used to understand and analyze
genetic information, identify potential drugs and treatments, and predict
disease progression and outcomes.
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Bioinformatics has become increasingly important in
healthcare due to the development of new technologies and the ability to
collect and store massive amounts of data. Healthcare providers rely on
bioinformatics to identify trends in patient care, assess genetic risk factors,
and develop treatments.
The market is also driven by increasing investments in
healthcare data analytics and artificial intelligence. Governments, hospitals,
and private companies are investing heavily in bioinformatics to improve health
outcomes and reduce costs.
Bioinformatics is an emerging market with a lot of potential
for growth. As the technology continues to mature, it will open up new
opportunities for healthcare providers and patients. The ability to use data to
tailor treatments and predict outcomes will revolutionize the way healthcare is
delivered.
TOP BIOINFORMATICS MARKET PLAYER
Some of the prominent players operating in the bioinformatics market are
Thermo Fisher Scientific, Inc. (US), Eurofins Scientific (Luxembourg), QIAGEN
N.V. (Netherlands), Agilent Technologies, Inc. (US), and Illumina, Inc. (US),
Waters Corporation (US), DNASTAR (US), NeoGenomics Laboratories (US), Perkin
Elmer, Inc. (US), GENEWIZ (US) and BGI Group (China), DNASTAR (US), Partek
Incorporated (US), SOPHiA Genetics (Switzerland), Source BioScience (UK), and
Biomax Informatics AG (Germany) among others.
THERMO FISHER SCIENTIFIC, INC. (US)
Thermo Fisher Scientific, Inc. is the leading player in the
bioinformatics market. The company mainly develops technologically advanced
bioinformatics solutions to outstand its offerings. It invests into organic and
inorganic growth strategies like acquisitions to strengthen its market
presence.
PERKINELMER, INC. (US)
PerkinElmer is one of the leading players in the global bioinformatics
market. The company provides data analytics, computing, and scientific
application software services. PerkinElmer competes in this market based on
services offered, price, technological innovation, operational efficiency,
product differentiation, product availability, quality, and reliability. The
company has a strong geographical presence in the Americas, Europe, Asia, and
Africa.
PerkinElmer has a strong sales and distribution network in more than 150
countries for its products and services. These factors are expected to help
PerkinElmer stay competitive in the bioinformatics market.
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ILLUMINA, INC. (US)
Illumina, Inc. is holds strong position in the bioinformatics market.
Illumina has a wide range of product and service portfolio for the end users in
this market, a well-established distribution network, and has geographic
presence worldwide. With its diverse product offerings, the company is expected
to witness high growth in this market.
“North American bioinformatics market to dominate the
market during the forecast period”
North America dominated the bioinformatics market in 2021
and is expected to grow at an 12.7% CAGR during the forecast period. The North
America holds large share in the global bioinformatics market owing to factors
such as government support for genomic research, presence of top key players in
the region, reduced cost of sequencing, increased awareness of bioinformatics
services, and increased number of genomic research activities (and the
corresponding adoption of bioinformatics) in the region are driving the growth
of the bioinformatics market in North America.
Recent Developments:
·
In October 2022, Illumina, Inc. and AstraZeneca
formed a strategic research collaboration to expedite the discovery of
therapeutic targets by combining their strengths in AI-based genome
interpretation and genomic analysis tools with industry knowledge. The
cooperation would assess if a framework made of both these technologies can
boost target discovery yield and confidence in order to identify prospective
therapeutics based on human omics insights.
·
In September 2022, Thermo Fisher Scientific
joined the Pennsylvania Biotechnology Center (PABC) as a founding sponsor of
both the Philadelphia-based B+Labs incubator and the PABC site in Doylestown,
Pennsylvania, where emerging life science enterprises can accelerate their
progress to commercialization.
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