Trending

Bioinformatics Market Growth Due to COVID-19 Spread | Qiagen NV, Agilent Technologies, PerkinElmer, ABM

Bioinformatics Market

The Bioinformatics Market size is estimated to grow from USD 10,220 Million in 2020 to USD 27,518 Million by 2027, growing at a CAGR of 15.2% during the forecast year from 2021 to 2027.

The Bioinformatics Market research report thoroughly explains each and every aspect related to the Global Bioinformatics Market, which facilitates the report’s reader to study and evaluate the upcoming market trend and execute the analytical data to promote the business.

A large-scale Bioinformatics Market document offers an all-inclusive study about production capacity, consumption, import, and export for all the major regions across the world. Furthermore, the statistical and numerical data such as facts and figures are represented very neatly in the report by using charts, tables, or graphs. This market report also involves strategic profiling of the major players in the market, comprehensive analysis of their basic competencies, and thereby keeping the competitive landscape of the market in front of the client. The winning Bioinformatics report covers all the market shares and approaches of the major competitors or the key players in the market.

Request for Sample Copy of This Report @ https://marketdigits.com/bioinformatics-market/sample/

Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Bioinformatics Market, By Product (Sequence Analysis, Sequencing, Generalized), Sector (Medical Bioinformatics, Animal Bioinformatics, Academics), Application (Metabolomics, Transcriptomics, Proteomics) & Geography – Global Forecast to 2027”. Early buyers will get 10% customization on study.

To Avail deep insights of Bioinformatics Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2019-2021), Segment Revenue Market Share (%) by Players (2019-2021) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Bioinformatics Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

Purchase Full Report @ https://marketdigits.com/bioinformatics-market/buy/

The bioinformatics market size is estimated to grow from USD 10,220 Million in 2020 to USD 27,518 Million by 2027, growing at a CAGR of 15.2% during the forecast year from 2021 to 2027. The research covers the current and historic bioinformatics market size and its growth trend with company outline of Key players/manufacturers: Illumina Inc., Thermo Fischer Scientific (Life Technologies), Qiagen NV, Agilent Technologies, PerkinElmer, ABM, Dassault Systèmes, Geneva Bioinformatics SA,  Ontoforce, Data4Cure, and Lineage Cell Therapeutics (BioTime Inc.) among others.

Growth of the bioinformatics market is driven by the growing demand for nucleic acid and protein sequencing, increasing government initiatives and funding, and increasing use of bioinformatics in drug discovery and biomarker development processes. With the introduction of upcoming technologies such as nanopore sequencing (third generation sequencing technique) and cloud computing, the market is expected to offer significant opportunities for manufacturers of bioinformatics solutions. However, factors such as a dearth of skilled personnel to ensure proper use of bioinformatics tools and lack of integration of a wide variety of data generated through various bioinformatics platforms are hindering market growth.

By Product and Services, bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast period

Knowledge management tools commanded the largest market share in the global bioinformatics market in 2018, while the bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast period. The major factor driving growth of bioinformatics platforms is their growing use in various genomic applications. In addition, the use of bioinformatics platforms is increasing in the drug discovery & development process, which is contributing to market growth. However, the lack of standardization in bioinformatics platforms across the industry is restraining growth of the bioinformatics platforms market, owing to which bioinformatics professionals have to work with varying standards and platforms that give no reproducible results

By Application, the metabolomics segment is expected to grow at the highest CAGR during the forecast period

Factors such as the availability of research funding and government support are fueling market growth. However, metabolomes cannot be easily identified or figured from reconstructed biochemical pathways due to enzymatic diversity, substrate ambiguity, and difference in regulatory mechanisms. Hence, the annotation of unknown metabolic signals is the main hindrance to growth of the metabolomics segment.

By Sector, medical biotechnology segment is expected to grow at the highest CAGR during the forecast period

Various pharmaceutical companies are increasingly adopting bioinformatics tools to decrease the cost and time involved in drug discovery. Bioinformatics approaches for target discovery and validation are proving more efficient than traditional methods. With the help of bioinformatics tools, much of the information regarding drug candidates is validated at a molecular level, which tends to reduce drug attrition rate in the later stages of drug development. Thus, contributing to the success of more drug candidates in the clinical trials is making the drug development process more cost effective.

Pharma companies are also using AI along with bioinformatics tools to identify drug targets. Merck entered the AI space by collaborating with Numerate, Celgene partnered with GNS Healthcare, GSK collaborated with Exscientia, while Pfizer entered into a collaboration with IBM Watson for drug discovery research.

Bioinformatics in clinical diagnostics sector includes analysis of human genome with reference to disease diagnosis. This involves study of various omics technologies such as proteomics, metabolomics, metagenomics, epigenetics, and transcriptomics. Data generated through different omics technologies has assisted in the development of bioinformatics methodologies for clinical research and for building human databases. These computational approaches are then used to understand information about the origin, evolution, progression, and treatment of diseases, leading to the development of personalized medicine. Increased use of bioinformatics tools by clinicians also contributes to growth of the bioinformatics market. Rising use of bioinformatics tools is evident in the US, Europe, and parts of APAC. The APAC is expected to show highest CAGR while North America is expected to account for the largest share of the medical biotechnology market during the forecast period.

In 2018, The APAC market is expected to grow at the highest CAGR during the forecast period

The market in the Asia Pacific region is expected to offer significant opportunities for players to offset revenue losses incurred in mature markets. Emerging countries in this region are witnessing growth in their GDPs and a significant rise in disposable income levels. This has led to increased healthcare spending by a larger population base, healthcare infrastructure modernization, and rising penetration of cutting-edge research and clinical laboratory technologies, including bioinformatics, in Asia Pacific countries. These factors are expected to provide significant growth opportunities to bioinformatics companies operating in this region.

Market Dynamics:

Driver: Growing demand for nucleic acid and protein sequencing due to reductions in sequencing costs and technological advancements

Bioinformatics is increasingly being used to identify genes in DNA sequences. The information collected is used to understand the molecular mechanisms of diseases. This assists in developing better treatments and diagnostic tests. Recently, due to significant reductions in costs of sequencing, many scientific research institutes and biotech companies have undertaken initiatives to perform sequencing studies at their own facilities. Similarly, sequencing and data analysis and interpretation can now be completed within days after the development of faster and sophisticated bioinformatics tools. With advancements in technology, there has been an increase in the speed of decoding genetic sequences, which has decreased the overall cost of sequencing and analysis per sample. The reasons behind this decrease in cost include the development of innovative DNA sequencing platforms and various bioinformatics tools.

Restraint: Lack of well-defined standards and common data formats for the integration of data

Standardization is crucial to ensure uniform and accurate results of samples for studies in healthcare. According to a social science research network, there is a lack of well-defined standards in bioinformatics, and because of this, every database or institute has its own exclusive identifiers, indexing schemes, data formats, and tools. In addition, as data models change frequently, the data integration process is often a significant challenge. Considering these factors, there is a need for standard bioinformatics infrastructure that can decrease data storage, increase data processing performance, and integrate diverse information.

Opportunities: IT giants investing in the development of bioinformatics solutions

IT giants have started focusing on bioinformatics for healthcare applications. Investments are being made for more advanced tests and techniques in battling diseases such as cancer and Parkinson’s. Microsoft co-founder Bill Gates and Amazon founder Jeff Bezos have invested millions of dollars in Grail, a start-up by gene sequencing firm Illumina that a former Google executive leads. Grail is developing a cancer-screening blood test for people, even if they show no symptoms. The test’s development is expected to require many samples to be sequenced and analyzed by using more comprehensive bioinformatics tools and databases.

Another IT giant, IBM, has introduced the IBM Watson for Genomics, which searches electronic medical databases to find information that may be relevant to a particular genomic sequence. IBM Watson’s beta version of Watson for Genomics is now commercially available for genomic data interpretation through partnerships with Quest Diagnostics, Illumina, or as a cloud-based software for clinicians and researchers. In 2018, Watson for Genomics was also used in clinical practice at the VA Health System, the largest integrated health system in the US. Similarly, in May 2018, IBM Watson for genomics was integrated with the Apollo chain of hospitals for the treatment of Cancer in India after results were found promising at the Manipal Hospital

Challenge: Shortage of skilled bioinformatics professionals

Globally, there is a huge demand for bioinformatics experts among companies operating in various sectors such as drug development, agriculture, and IT. Due to advancements in data generation techniques, a large amount of data is being generated per second, which is accumulating and is expected to become redundant. The number of skilled bioinformaticians is required to analyze data to reduce the gap. To cope with this issue, many companies are tying up with universities to hire the best talent in bioinformatics.

However, the industry is increasingly witnessing a dearth of skilled bioinformatics professionals. According to CSI-India, there is a severe shortage of bioinformatics professionals and molecular modeling experts at a global level. Similarly, as per the Institute of Bioinformatics and Applied Biotechnology (India), the cheminformatics field has a dearth of qualified bioinformatics professionals who can use computers and databases for chemical compounds or drug development. Most scientists at the forefront of experimental research lack bioinformatics expertise, which is a constraint in the full utilization of bioinformatics solutions in life science research.

Major Classifications are as follows:

By Product

  • Sequence Analysis
  • Manipulation, Alignment
  • Structural & Functional Analysis Platforms
  • Data Management
  • Sequencing
  • Data Analysis Service
  • Generalized
  • Specialized Biocontent

By Sector

  • Medical Bioinformatics
  • Animal Bioinformatics
  • Agriculture Bioinformatics
  • Academics
  • Others

By Application

  • Metabolomics
  • Molecular Phylogenetics
  • Transcriptomics
  • Proteomics
  • Chemoinformatics & Drug design
  • Genomics
  • Others

What Porter’s Five Forces of Competitive Analysis Provides?

Competitive rivalry:- The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.

Threat of substitution:-  Where close substitute products exist in a market, it increases the likelihood of customers switching to alternatives in response to price increases. This reduces both the power of suppliers and the attractiveness of the market.

Threat of new entry:- Profitable markets attract new entrants, which erodes profitability. Unless incumbents have strong and durable barriers to entry, for example, patents, economies of scale, capital requirements or government policies, then profitability will decline to a competitive rate.

Supplier power:- An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.

Buyer power:- An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organisation; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.

Five forces analysis helps organizations to understand the factors affecting profitability in a specific industry, and can help to inform decisions relating to: whether to enter a specific industry; whether to increase capacity in a specific industry; and developing competitive strategies.

The country section of the report also provides individual market impacting factors & changes in regulation in the market domestically that impacts the current & future trends of the market. Data points such as consumption volumes, production sites & volumes, import export analysis, price trend analysis, cost of raw materials, down-stream & upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence & availability of global brands & their challenges faced due to large or scarce competition from local & domestic brands, impact of domestic tariffs & trade routes are considered while providing forecast analysis of the country data.

Any Questions? Inquire Here Before Buying @ https://marketdigits.com/bioinformatics-market/analyst/

About MarketDigits:

MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.

We offer services that are most relevant and beneficial to the users, which help businesses to sustain in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.

Contact Us:
MarketDigits
USA : +1 847 450 0808
Email : sales@marketdigits.com

Back to top button