Bioinformatics Market - Key Players & Growth Strategies Adopted by Them

2022-08-05 09:04:04 UTC | Healthcare & Pharmaceuticals
Bioinformatics Market - Key Players & Growth Strategies Adopted by Them

Overview of This Study:

This study involved four major activities in estimating the size of the bioinformatics market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market.

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The importance of bioinformatics is growing because the vast amount of data generated through technologies such as protein and nucleic acid sequencing requires data interpretation and management for medical purposes and future research.

Recent Developments in Bioinformatics Market

·         In March 2021, Agilent Technology, Inc. launched SureSelect for human exome analysis.

·         In January 2021, BGI and the Ministry of Health of Brunei expanded their partnership to carry out extensive cooperation in public health emergency response and public health testing screening and diagnostic services, including reproductive health, personalized drug guidance, early cancer screening, and detection of unknown pathogens by using BGI’s cutting-edge sequencing technology.

·         In January 2020, Charles River Laboratories, Inc. entered into a partnership with Fios Genomics to gain access to the expertise of Fios Genomics in the field of bioinformatics, statistics, and biology.

·         In December 2020, Eurofins Scientific launched optimized and cost-effective SARS-CoV-2 NGS services for providing full-length viral genome sequences to support researchers globally for the development of vaccines.

·         In August 2019, Eurofins Genomics acquired Blue Heron Biotech, a company specializing in advanced gene synthesis, and expanded its portfolio of oligonucleotides, sequencing, and synthetic genes.

·         In October, GENEWIZ launched NanoString’s GeoMx DSP service for morphological gene and protein expression analysis.

Opportunities: Lucrative opportunities in emerging markets

The growing prominence of these emerging economies in terms of R&D and investments from global players is expected to provide a favorable outlook—as well as opportunities—for the growth of genomics, metabolomics (including chromatography, mass spectrometry, and NMR instruments), precision medicine, drug discovery, and other markets in the coming years.

Global Key Market Players

Some of the prominent players operating in the bioinformatics market are Thermo Fisher Scientific, Inc. (US), Eurofins Scientific (Luxembourg), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (US), and Illumina, Inc. (US), Waters Corporation (US), DNASTAR (US), NeoGenomics Laboratories (US), Perkin Elmer, Inc. (US), GENEWIZ (US) and BGI Group (China) Waters Corporation (US), DNASTAR (US), NeoGenomics Laboratories (US)

Different Growth Strategies Adopted by Them:

Market Competitive Analysis:

Top 10 players in this industry profiled in the report include. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

Thermo Fisher Scientific, Inc. is the leading player in the bioinformatics market. The company primarily develops technologically advanced bioinformatics solutions to enhance its service offerings. It also focuses on strategic acquisitions to strengthen its market presence.

Eurofins Scientific is a leading provider of clinical diagnostic testing, agro-science, genomics, discovery pharmacology, and central laboratory services in the bioinformatics segment. The company has a strong geographical presence in North America, Europe, the Asia Pacific, and Latin America.

Illumina, Inc. is among the major players in the bioinformatics market. Illumina has a robust product and service portfolio for bioinformatics, a well-established distribution network, and a wide geographic presence across the globe. With its strong product offerings, the company is expected to witness high growth in this market.

Major Revenue Growth Expectations:

The global bioinformatics market is projected to reach USD 21.8 billion by 2026 from USD 10.7 billion in 2021, at a CAGR of 15.2% during the forecast period.