Bioinformatics Market Size Witnesses Robust Growth Rate of CAGR 14.3%, Exceeding US$ 23.8 Billion by 2028

IMARC Group, a leading market research company, has recently released a report titled “Bioinformatics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global bioinformatics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Bioinformatics Market?

The global bioinformatics market size reached US$ 10.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.8 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.

What is Bioinformatics?

Bioinformatics stands for an interdisciplinary field of science that integrates software tools and methodologies for storing, retrieving, and analyzing biological data. It also helps in studying genomic data and biological networks using the principles of biology, mathematics, statistics, and information technology (IT). This scientific field is extensively used in manufacturing molecular medicines, drug development, gene therapy, and forensic analysis of microbes.

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What are the Growth Prospects and Trends in the Bioinformatics Industry?

Rapid advancements in the biotechnology sector, along with the rising demand for nucleic acid and protein sequencing for proteomics and drug discovery, have catalyzed the market for bioinformatics. Additionally, the increasing deployment of software tools for data accumulation and determination of molecular mechanisms has led to the development of efficient diagnostic tests and treatment methods. Moreover, bioinformatics is also adopted in the agriculture industry to develop efficient methodologies for improving crop productivity. Additionally, several technological advancements in the healthcare sector have led to the inception of artificial intelligence (AI) and big data technology, thereby propelling the market growth. The rising investments in R&D activities, along with the increasing preferences for personalized medicines, are anticipated to bolster the bioinformatics market in the coming years.

Who are the Key Players Operating in the Bioinformatics Market?

The report has also analysed the competitive landscape of the market with some of the key players.

ABM Industries
Agilent Technologies
Biomax Informatics
Data4Cure Inc.
Dnaster Inc.
Illumina Inc.
Life Technologies
PerkinElmer Inc.
Qiagen N.V.
Quest Diagnostics
Sophia Genetics SA
Thermo Fisher Scientific Inc.
Waters Corp
WuXi Nextcode Genomics

What is Included in Market Segmentation?

The report has categorized the market based on product and service, application and end-use sector.

Breakup by Product and Service:

Knowledge Management Tools
- Generalized Knowledge Management Tools
- Specialized Knowledge Management Tools
Bioinformatics Platforms
- Surgical Simulation Platforms
- Sequence Analysis, Alignment and Manipulation Platforms
- Structural and Functional Analysis Platforms
- Others
Bioinformatics Services
- Data Analysis Services
- Database Management Services
- Others

Breakup by Application:

Genomics
Chemoinformatics and Drug Design
Proteomics
Transcriptomics
Metabolomics
Others

Breakup by End-Use Sector:

Medical Biotechnology
Academics
Animal Biotechnology
Agricultural Biotechnology
Environmental Biotechnology
Forensic Biotechnology
Others

Regional Insights:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

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Key Highlights of The Report:

Market Performance (2022-2027)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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