Growing applications of bioinformatics across industries,
increasing public-private sector funding for bioinformatics services, and the
shortage of skilled bioinformatics professionals (leading to increased
outsourcing of bioinformatics projects) are the major factors that are expected
to drive the growth of the bioinformatics services market during the forecast
period. However, the in-house development of bioinformatics solutions and
publicly available bioinformatics tools are expected to limit market are expected
to restrain market growth in the coming years.
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[238 Pages Report] The bioinformatics services market is
projected to reach USD 5.3 Billion by 2026 from USD 2.5 Billion in 2021, at a
CAGR of 15.8% during the forecast period.
The bioinformatics services market, by application, is
segmented into genomics, chemoinformatics & drug design, proteomics,
transcriptomics, metabolomics, and other applications. The genomics segment is
expected to account for the largest share of the bioinformatics services market
in 2018. The increasing use of pharmacogenomic research for the development of
precision medicine, favorable funding scenario for genomic research, and
partnerships & collaborations between various life sciences and informatics
companies for the development of advanced bioinformatics solutions and services
are the major factors contributing to the growth of the bioinformatics services
market for the genomics segment.
Based on application, the bioinformatics services market is segmented into genomics, chemoinformatics and drug design, proteomics, transcriptomics, metabolomics and other applications. Large share is attributed to genomics segment due to increasing use of pharmacogenomic research for the development of precision medicine, favorable funding scenario for genomic research, and partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics solutions and services.
Based on type, the bioinformatics services market is
segmented into sequencing services, data analysis, drug discovery services,
differential gene expression analysis, database and management services, and
other bioinformatics services. Due to reduced cost of sequencing the sequencing
services segment enjoy the major share of the market.
Based on end-users, the bioinformatics services market has
been segmented as —academic institiutes and research centers, hospitals and
clinics, pharma and biotech companies, CROs and other end users. The large
share of academic institutes and
research centers segment can be attributed to the growing number of
bioinformatics-based research studies, increasing scale of genomics research,
rising number of collaborations between academic research institutes and
players in the bioinformatics market, and the growing number of government
funding programs for genomics research.
North America dominated the global bioinformatics
services market in 2020
The North American market dominated the bioinformatics
services market. The market growth in North America can be attributed to
government initiatives for the reimbursement of genomic testing and favorable
funding scenario for research activities.
Prominent players in the bioinformatics services market
include Illumina (US), Thermo Fisher Scientific (US), Eurofins Scientific
(Luxembourg), BGI Group (China), NeoGenomics (US), PerkinElmer (US), CD
Genomics (US), Psomagen, Inc. (South Korea), QIAGEN (Germany), GENEWIZ (US),
Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios
Genomics (UK), and BaseClear (Netherlands), among others.
Recent Developments:
·
QIAGEN and Centogene (Germany) collaborated to
integrate Centogene’s CentoMD rare disease variant database with Qiagen
Clinical Insight bioinformatics solution
·
NeoGenomics established its first European
laboratory in Rolle, Switzerland to expand its geographical presence and increase
its sales in Europe.
· QIAGEN acquired OmicSoft Corporation (US) to enhance its multi-omics data analysis bioinformatics services offerings
Key questions addressed in the report:
1.
What are the growth opportunities related to
bioinformatics service market across major regions in the future?
2.
Emerging countries have immense opportunities
for the growth and adoption of bioinformatics service. Will this scenario
continue in the next five years?
3.
What are the various bioinformatics service
segments and their market share in the overall market?
4.
What are the new trends and advancements in the
bioinformatics service market?
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