Bioinformatics Services Market Overview
The Global Bioinformatics Services Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing with a CAGR of YY% during the forecast period 2024-2031.
A variety of computational and analytical services, including genomics and other omics disciplines, are included in the category of "bioinformatics services" and are aimed at processing, analyzing, and interpreting biological data. To make sense of the enormous volume of biological data produced by various high-throughput techniques, these services are crucial for researchers, scientists, and organizations working in the life sciences and biomedical sectors.
The study of DNA sequences, gene annotations, and structural differences in genomes are all included in genomic data analysis. Finding genes, regulatory components, and mutations is a frequent endeavor. Analysis of RNA-Seq data for the purposes of examining gene expression levels, alternative splicing, and non-coding RNA expression is frequently included in bioinformatics services. Protein and metabolite data are analyzed as part of proteomics and metabolomics research, which can shed light on biological functions and pathways.
Market Scope
| Metrics | Details |
| CAGR | YY% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$ Mn) |
| Segments Covered | Product Type, Application, End-User |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increasing Research Activities
Data analysis is a crucial component of single-cell research although having access to bioinformatic expertise on-site is not always feasible. Researchers encounter challenges including having insufficient data to support hiring a bioinformatician on staff or retraining an already-existing team member. The market players are offering bioinformatics services that drive the market.
For instance, in January 2022, in light of the recently released RNAdia kit for single-cell research from Dolomite Bio. With upfront expenses making forecasting simple and single-cell RNA-sequencing hassle-free, Dolomite Bio introduced a bioinformatics service that can be purchased alongside the kit much like reagents.
In October 2022, Tempus Labs and VectorBuilder Biotechnology, two startup businesses based in the United States, raised USD 275 million for the development of precision medicine. To track a disease's progression and enroll patients in clinical trials, these businesses are widely utilizing Artificial Intelligence (AI) algorithms in clinical pipeline analysis.
In April 2022, the world's leading organization for the management and standardization of biological materials, ATCC, agreed with QIAGEN, a well-known provider of bioinformatics solutions, to share sequencing information from its collection of human and animal cell lines and biological materials with them.
In order to create and deliver high-value digital biology content for the biotechnology and pharmaceutical industries, QIAGEN Digital Insights, the bioinformatics division of QIAGEN, will create a database from this information. This will allow for the use of authenticated biological data sets to uncover new disease pathways and discover novel therapeutic targets.
Data Security and Privacy Concerns
Highly sensitive and private information can be found in genomic and medical data. The uptake of bioinformatics services may be hampered by worries about privacy and data breaches. Although important, observing data protection laws like the GDPR (General Data Protection Regulation) can be difficult and expensive.
Market Segment Analysis
The global bioinformatics services market is segmented based on product type, application, end-user and region.
The sequencing services segment accounted for approximately 45.5% of the market share
The process of figuring out the precise placement of nucleotides (A, C, G, and T) in a DNA or RNA molecule is known as sequencing. Numerous applications in biology, genetics, genomics, and other disciplines depend on this mechanism.
Accessible next-generation sequencing (NGS) services from Illumina include whole-genome sequencing services that are quick and of excellent quality. The user might want to think about outsourcing their genome sequencing projects if their lab doesn't already have access to a variety of sequencing tools and NGS knowledge.
User can take advantage of quick turnaround times, high-throughput equipment, library prep choices, and bioinformatics capabilities with their sequencing services. With their broad scientific knowledge and first-rate customer service, experience Genetic Energy.
In addition, Biosearch Technologies offers genotyping by sequencing, targeted genotyping by sequencing, metagenomics sequencing, microbial sequencing and whole genome sequencing, and sanger sequencing services.
Market Geographical Analysis
North America accounted for approximately 41.2% of the market share
North America has been a dominant force in the global bioinformatics services market. The active market players are driving the region. For instance, in June 2022, Agilent Technologies Inc., a leader in the field of genomics technology, reported that it will use Amazon Elastic Compute Cloud (Amazon EC2) G5g instances with NVIDIA Clara Parabricks' advanced genomics analysis capabilities, Amazon Web Services (AWS) Graviton2 processors, and Amazon Elastic Compute Cloud (Amazon EC2) G5g instances with NVIDIA T4G Tensor Core GPUs.
In March 2023, Illumina Inc., a global leader in DNA sequencing and array-based technologies, and Myriad Genetics Inc., a leader in genetic testing and precision medicine, expanded a strategic partnership to increase access to and availability of oncology homologous recombination deficiency (HRD) testing in the United States. Illumina TruSight Oncology 500 HRD (TSO 500 HRD), a test intended primarily for research purposes, is now accessible in the US as per the agreement.
The strengthened collaboration also creates a special companion diagnostic (CDx) alliance for the pharmaceutical sector, enabling greater clinical study for gene-based, targeted medicines. The item is now available for purchase and is prepared for delivery to the US. Distributable kits and centralized laboratory services are provided by Myriad and Illumina, respectively.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic in late 2019 created unprecedented challenges for industries worldwide, including the global bioinformatics services market. Due to the necessity to comprehend the genetic differences of the SARS-CoV-2 virus, the pandemic increased the demand for genomic sequencing and analysis. As a result, businesses that provide services in genomics and bioinformatics saw a surge in business.
On the other side, due to supply chain interruptions and laboratory closures, numerous research initiatives had to be postponed or temporarily stopped. Consequently, the demand for bioinformatics services was impacted.
Competitive Landscape
The major global players in the market include Illumina, Inc., PerkinElmer Inc., Premier Biosoft, QIAGEN N.V., Strand Life Sciences, Inc., Thermo Fisher Scientific, Agilent Technologies, Inc., BGI Group, Biomatters Geneious, and Biomax Informatics AG.
Key Developments
- In January 2021, Illumina, Inc. is turning genomic data bottlenecks into catalysts with the introduction of Illumina Connected Analytics (ICA). The comprehensive, private, cloud-based data platform offered by this innovative and integrated bioinformatics solution enables users to manage, analyze, and study huge volumes of multi-omic data in a safe, adaptable, and secure setting.
Why Purchase the Report?
- To visualize the global bioinformatics services market segmentation based on product type, application, end-user and region as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of bioinformatics services market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global bioinformatics services market report would provide approximately 61 tables, 63 figures, and 186 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
