Bioinformatics Services Market to Reach USD 2967.1 Million by 2027 at a CAGR of 10.1% | Valuates Reports

BANGALORE, India, March 30, 2022 /PRNewswire/ -- The Bioinformatics Services Market is Segmented by Type (Sequencing Services, Data Analysis, Drug Discovery Services, Differential), by Application (Chemoinformatics and Drug Design, Genomics, Proteomics, Transcriptomics, Metabolomics): Opportunity Analysis and Industry Forecast, 2021–2027. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.

The global Bioinformatics Services market size is projected to reach USD 2967.1 Million by 2027, from USD 1468.2 Million in 2020, at a CAGR of 10.1% during 2021-2027.

Major factors driving the growth of the bioinformatics market are:

The bioinformatics service market is expected to be fueled by the growing applications of bioinformatics in various industries, as well as the recent COVID-19 outbreak.

Additionally, benefits such as cost-effectiveness, process availability, and domain experience with qualified and skilled personnel are expected to propel the bioinformatics market forward.

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TRENDS INFLUENCING THE GROWTH OF BIOINFORMATICS MARKET:

The recent COVID-19 outbreak is expected to drive the growth of the global bioinformatics services market. During the COVID-19 pandemic, one of the major focus areas for each country has been to study and understand how to stop the virus's spread. The genome of the novel coronavirus had to be decoded in order to develop vaccines and gain a better understanding of the virus's mechanism and how it works in the human body. As a result, various studies were conducted to better understand the virus's genetic combination; these studies were aided by bioinformatics. Outsourcing of bioinformatics services has increased during the pandemic in this context.

Bioinformatics services are also being used by several industries to improve the quality of their products and supply chain processes, including food, bioremediation, agriculture, forensics, and consumer goods. Companies in a variety of industries are increasingly utilizing bioinformatics services such as data integration, manipulation, lead discovery, data management, in silico analysis, and advanced knowledge discovery. This expansion of bioinformatics services' application areas is expected to open up new revenue streams for market participants, resulting in increased adoption of these services and overall Bioinformatics services market expansion.

Pharma companies can save a lot of money by outsourcing data management and analytics. This factor will help the bioinformatics market grow even faster. Furthermore, rising bioinformatics adoption in research centers and laboratories, increased research funding, and pharmaceutical companies' increasing reliance on bioinformatics and high capital investments are boosting Bioinformatics services market growth.

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BIOINFORMATICS MARKET SHARE ANALYSIS:

Based on type, sequencing service is expected to be the most lucrative due to declining sequencing costs.

Based on application, the genomics segment is expected to be the most lucrative. This is due to the increasing use of pharmacogenomic research for the development of precision medicine, favorable funding scenarios for genomic research, and partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics solutions and services, the genomics segment is expected to grow.

Based on region, Asia Pacific is expected to grow at the fastest rate. The rising incidence of genetic diseases, the growing number of bioinformatics-based research studies, and the growing demand for bioinformatics services from various end-users are all contributing to market growth in the Asia Pacific.

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• Illumina
• Thermo Fisher Scientific
• Eurofins Scientific
• BGI
• NeoGenomics
• PerkinElmer
• CD Genomics
• Macrogen
• QIAGEN
• GENEWIZ
• Source BioScience
• Microsynth
• MedGenome
• Fios Genomics
• BaseClear

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SIMILAR REPORTS:

-  The Global Bioinformatics Market Size is USD 8,614.29 Million in 2019, and is projected to reach USD 24,731.61 Million by 2027, growing at a CAGR of 13.4% from 2020 to 2027.

-  The global Single-Cell Analysis market was valued at USD 3165.2 Million in 2022 and is projected to reach USD 7656.8 Million by 2028, registering a CAGR of 13.2% from 2022 to 2028.

-  The global metabolomics market size was valued at USD 2,032 Million in 2020, and is projected to reach USD 6,663 Million by 2030, registering a CAGR of 12.2% from 2021 to 2030.

-  The global Drug Discovery Services market size is projected to reach USD 22960 Million by 2028, from USD 10840 Million in 2021, at a CAGR of 11.1% during 2022-2028.

-  The global Genomics market size is projected to reach USD 31240 Million by 2027, from USD 15120 Million in 2020, at a CAGR of 10.8% during 2021-2027.

-  The global Chemoinformatics market size is projected to reach USD 12500 Million by 2028, from USD 6397.5 Million in 2021, at a CAGR of 9.9% during 2022-2028.

-  The global Nutrigenomics market size is projected to reach USD 20990 Million by 2027, from USD 10770 Million in 2020, at a CAGR of 9.5% during 2021-2027.

-  The global Transcriptomics Technologies market size is projected to reach USD 7708.5 Million by 2028, from USD 4086.9 Million in 2021, at a CAGR of 9.0% during 2022-2028.

-  Due to the COVID-19 pandemic, the global Organ-on-a-Chip market size is estimated to be worth USD 80 Million in 2022 and is forecast to be a readjusted size of USD 581.2 Million by 2028 with a CAGR of 39.1% during the review period.

-  Global Bioinformatics Platforms Market Insights, Forecast to 2028

-  Global Bioinformatics Software and Services Market Size, Status and Forecast 2021-2027

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