Saturday, April 1st, 2023

Bioinformatics Market Growth Analysis, Growth, and COVID-19 Impact Till 2027

Bioinformatics Market Growth is the use of information technology in the field of biotechnology for the purpose of data storage, data warehousing, and analysing the DNA sequences. The market is going to grow at a sound pace during the forecast period. The major drivers will be the growing biotechnology sector, increasing global burden of the diseases, and increasing research and development expenses. According to the International Trade Administration, the total turnover for the biotechnology sector in the Germany reached from USD 3,280 million in 2015 to USD 3,410 million in 2016. Moreover, it was estimated that in 2016, the RD expenditure for biotech sector was about USD 1,040 million. Moreover, increasing initiatives from government and private organizations followed by improved collaborative ties between companies and research institutes fuels the market growth. However, lack of well-defined standards and common data formats for integration of data, shortage of skilled bioinformatics professionals along with the lack of adequate user-friendly tools may restrain the market growth during the forecast period.

The global bioinformatics market is growing with the sound pace. According to a recent study report published by the Market Research Future, the global bioinformatics market is booming and expected to gain prominence over the forecast period growing rapidly .The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a sound CAGR during the anticipated period (2017–2022).

Global Bioinformatics Market — Competitive Analysis

Agilent Technologies, Illumina, Inc., QIAGEN, and Thermo Fisher Scientific Inc., and Dassault Systèmes are some of the prominent players at the forefront of competition in the global bioinformatics market and are profiled in MRFR Analysis.

Characterized by the presence of several well-established and small players, the global bioinformatics market appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economies, makes it difficult for regional vendors to compete with them, especially in terms of features such as product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

 Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

Thermo Fisher Scientific Inc. is one of the prominent players in the global Bioinformatics Industry. It is headquartered in the U.S. and is one of the leaders in healthcare. The company is specialized in various biotechnology products such as Analytical Instruments, Laboratory Supply Chain Programs, Laboratory Equipment, Lab Services, Specialty Diagnostics and others. The company’s net sales in 2015, was estimated to be about USD 16, 965.40 million in 2015 and reached USD 18,274.10 million in 2016.

 In May 2017, Thermo Fisher Scientific Inc., signed an agreement with Agios Pharmaceuticals to develop and commercialize a next-generation sequencing-based companion diagnostic for the latter’s investigational cancer drug ivosidenib.

In December 2016, Agilent Technologies and Multiplicom N.V. signed a definitive agreement under which Agilent will acquired Multiplicom, a leading European diagnostics company with state-of-the-art genetic testing technology and products.

In August 2017, Illumina, Inc. announced plans with Telegraph Hill Partners to establish Verogen, Inc. The independent new company has certain exclusive rights to provide Illumina’s forensic sequencing technology to forensic customers, including for criminal casework and other human and nonhuman forensic applications. The creation of Verogen enabled an unprecedented focus on accelerating growth of Illumina’s leading next-generation sequencing technology in the forensic genomics market.

Regional Analysis

Based on the region, the global bioinformatics market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa. Of these, the Americas will have the lions share in the market over the forecast period. The presence of developed technologies, increasing healthcare expenditures, and the growing biotechnology sector is adding to the global bioinformatics market growth in the region. 

The global bioinformatics market in Europe is predicted to hold the second-largest share over the forecast period followed by the APAC region. Increasing investments by the government to develop human capital, research initiatives, and infrastructure coupled with increasing healthcare expenditure in the biotechnology industry being made in India & China are adding to the global bioinformatics market growth in the region. 

The global bioinformatics market in the MEA is predicted to have the smallest share over the forecast period for the presence of poor economies, especially in the African region. Meanwhile, the Middle East will have a good share in the market for the presence of developed economies such as Qatar, Kuwait, and others. 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services.


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