Global Bioinformatics Market is projected to grow at a CAGR of 13 to 14% by 2027 - Agilent, Biomax Informatics, QIAGEN, Thermo Fisher

Bioinformatics is an interdisciplinary healthcare segment which connects computer technology, mathematics, physics, and biology. It is a segment of science which develops advanced software tools, software and techniques to manage and examine data for modern biology and medicine. It helps researchers to monitor & extract important data from multiple volume of medical data and identify connections between various studies.

Technological and Rapid Innovations in Bioinformatics Triggers the Growth of the Bioinformatics Market   

The global bioinformatics market is a rapidly growing market and is projected to grow at a healthy CAGR in the upcoming years. Rapid and technological innovations in genomics and proteomic research have led to the generation of huge volumes of data which requires many advanced bioinformatics tools and software for data analysis and data interpretation. Rising adoption of cloud-based solutions and use of AI in drug discovery and development has generated many new growth opportunities for bioinformatics in the worldwide market.

Growing Demand for Bioinformatics in Genomics Market

With a rapidly growing demand for personalized medicine and precision healthcare, there is a fast rise in the demand for nucleic acid and protein sequencing which is further driving the growth of the bioinformatics market. An increasing number of funds from private and public companies and favourable government initiatives for promoting genomics are driving the adoption of advanced bioinformatics tools, software and services in the bioinformatics market. Key market players are making huge investments in the genome and information technology projects for conducting their R&D activities and are launching new products which is further fueling the growth of the bioinformatics market.   

Key Market Challenges to the Growth of Bioinformatics Market

Global lack of skilled and trained professionals with experience in biology and computer science, an increasing costs of bioinformatics tools and software, and the demand to integrate huge volumes of data from various sources are some of the key challenges which can affect the growth of the global bioinformatics market.

North America Accounts for the Largest Market Share in the Bioinformatics Market

North America holds the largest market share in the global bioinformatics market. This can be mainly attributed due to a significant growth in the number of genomic research studies, rising awareness and adoption of bioinformatic services, growth of well-developed and advanced healthcare system and the presence of key market players in the region. However, the APAC market is expected to witness a highest growth during the forecast period. Other major factors such as technological developments in genomics and increasing investments in the healthcare market are driving the growth of the Asia-Pacific market.

Competitive Landscape Analysis: Global Bioinformatics Market

Some of the leading and established players operating in the global bioinformatics market are Agilent, Biomax Informatics, QIAGEN, Thermo Fisher, PerkinElmer Inc., Illumina, Eurofins Scientific, DNASTAR, NeoGenomics Laboratories, Fios Genomics, Source BioScience, SOPHiA GENETICS. 

The global bioinformatics market is a promising market and is estimated to grow at a healthy rate in the coming years due to a strong focus on developing new drugs and medical therapies, growing investments in R&D activities to introduce new and advanced medical products, and aggressive growth strategies followed by the key market players.

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