The global bioinformatics market size was worth around USD 10.91 Billion in 2023 and is predicted to grow to around USD 26.81 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.50% between 2024 and 2032.
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Growth Drivers of the Bioinformatics Market
A number of significant industry influencers are driving the substantial expansion of the bioinformatics market. Initially, the exponential increase in the volume of biological data generated by the numerous omics technologies, including genomics, proteomics, and metabolomics, necessitates the creation of advanced computational tools and algorithms for the purpose of data analysis and interpretation. The significant role that bioinformatics plays in the management, analysis, and integration of these enormous datasets is a direct consequence of the increasing need for bioinformatics solutions.
In addition, the rise in the use of personalized medicine and precision healthcare techniques requires the implementation of sophisticated bioinformatics platforms for the purposes of genomic profiling, variant analysis, and clinical interpretation of genetic data. In addition, the industry’s expansion is facilitated by the increasing use of bioinformatics in the disciplines of agricultural biotechnology, biomarker identification, and drug development.
Furthermore, the field of bioinformatics is experiencing a revolution as a result of advancements in cloud computing, machine learning, and artificial intelligence. These enhancements are enabling the analysis of intricate biological data in a more straightforward and precise manner. In general, it is expected that the bioinformatics industry will continue to expand due to these factors, as well as the increasing investments in healthcare infrastructure and life sciences research.
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The Global Bioinformatics Market is segmented based on product, application and region
Global Bioinformatics Market: Product Segment Analysis
● Bioinformatics Services
● Knowledge Management Tools
● Bioinformatics Platforms
Global Bioinformatics Market: Application Segment Analysis
● Drug Design and Chemoinformatics
● Genomics
● Proteomics
● Metabolomics
● Transcriptomics
● Others
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The Global Bioinformatics market profiles key players such as:
● Illumina Inc.
● Thermo Fisher Scientific
● Agilent Technologies
● BGI
● QIAGEN
● Wuxi NextCODE
● Waters Corporation
● Eurofins Scientific
● Sophia Genetics
● DNASTAR
The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further divided into major countries including the U.S., Germany, France, UK, China, Japan, India, and Brazil.
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