Bioinformatics Market Analysis Covering Size, Growth, Trends and Upcoming Opportunities

Bioinformatics market size is $8,614.29 million in 2019, and is projected to reach $24,731.61 million by 2027, growing at a CAGR of 13.4% from 2020 to 2027. The bioinformatics platforms segment accounted for nearly half of the total bioinformatics market share in 2019.

List of Key Players

The report provides a comprehensive analysis of the key players operating in the global bioinformatics industry, namely, Agilent Technologies, Inc., Biomax Informatics AG, DNAnexus, Inc., Genedata AG, Intrexon Bioinformatics Germany GmbH, Illumina Inc., Perkinelmer Inc., Qiagen N.V., Seven Bridges Genomics Inc., and Thermo Fisher Scientific, Inc. The other players in the value chain include Geneva Bioinformatics (Genebio), Dassault Systems, Eurofins Scientific, Bruker Daltonics Inc., Accelrys, Inc., Affymetrix, Inc., SA Nonlinear Dynamics, Quest Diagnostics, Inc., and among others.

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Key Findings Of The Study

• Based on technology & services, the bioinformatics services segment is expected to experience rapid growth in the bioinformatics market, registering a CAGR of 22.9% from 2020 to 2027.
• By sector, the medical bioinformatics segment was the major revenue contributor in 20179, and is anticipated to continue bioinformatics market trends during the forecast period.
• Depending on application, the transcriptomics segment is expected to exhibit the highest CAGR during the forecast period.
• U.S. generated the highest revenue in the global bioinformatics industry in 2019, accounting nearly two-fifths of the global bioinformatics market in 2019. 
• LAMEA is estimated to grow at a CAGR of 16.8% during the forecast period.

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Region wise, the bioinformatics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2019, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to upsurge in adoption of advanced technology and increase in demand for advanced bioinformatics tools, which are required in the drug discovery and development process.