Reports And Data

Market Size – USD 2.67 Billion in 2020, Market Growth - CAGR of 11.7%, Market Trends- Rising demand for personalized medicine

NEW YORK, NY, UNITED STATES, December 3, 2021 /EINPresswire.com/ -- The global bioinformatics services market size is expected to reach USD 6.44 Billion in 2028 and register a CAGR of 11.7%, according to the latest report by Reports and Data. Key factors such as increasing collaborations among companies and research institutes, and ongoing research activities in proteomics, metabolomics are boosting global market revenue growth.

Bioinformatics services are gaining traction over the last few years. These services are widely used for storing, retrieving, and analyzing data. Rapid revenue growth is attributed to factors such as technological advancements in bioinformatics, increasing awareness about the benefits of bioinformatics services, increasing adoption of these services, demand for integrated data solutions to manage large data, and increasing adoption of bioinformatics services in clinical diagnosis. In addition, rising demand for combined data services and high adoption of bioinformatics services in drug discovery, drug development, and research purposes, rising adoption of customized data, and rising prevalence of rare and chronic disorders is further fueling market growth.

However, lack of skilled professionals to carry out the processes, high cost of sequencing and unavailability of funds in several countries for R&D activities are key restraints expected to hamper global market growth in the coming years.

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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the Bioinformatics Services market on the basis of key companies, product types, applications, and key regions to impart better understanding of the Bioinformatics Services market.

Leading Companies Profiled in the Report are:

Qiagen Inc., IBM Life Sciences, Illumina Inc., GVK Biosciences, Nxt-Dx, Biovia (Accelrys Inc), Non Linear Dynamics, Biomax Informatics AG., DNAnexus Inc., Affymretrix Inc., Geneva bioinformatics, Bruker Daltonics, and Life Technologies Corporation are key companies operating in the global bioinformatics services market.

Key highlights in the report:

• Based on end-use segment, the medical segment is expected to register highest CAGR owing to high demand for bioinformatics services in various drug discovery and drug development processes.

• Among the application segments, the transcriptomics segment is expected to account for significant revenue growth throughout the forecast period owing to increasing research projects in transcriptomics.

• The academic segment is expected to register fastest revenue growth during the forecast period due to high adoption of bioinformatics services and techniques in genomics and proteomics for research purposes in universities and research institutes and availability of considerable funds for research and development purposes.

• North America is projected to account for largest revenue share in the global bioinformatics services market between 2021 and 2028. Increasing investments in research and development activities, well-defined frameworks, and growing adoption of personalized medicine are some key factors boosting growth of the bioinformatics services in this region.

• The bioinformatics services market in Europe is expected to account for significant revenue growth over the forecast period. High revenue growth is attributed to factors such as increasing research on genomics and proteomics, increasing government support from genomic research, presence of key market payers.

• Asia Pacific is expected to register fastest revenue CAGR over the forecast period owing to improving healthcare infrastructures and healthcare facilities, increasing investments in research and development activities, ongoing research on genomics and proteomics, and rising prevalence of infectious diseases.

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For this study, Reports and Data has segmented the global assisted bioinformatics services market based on services, application, end-use, and region:

Service Type Outlook (Revenue, USD Billion, 2020 - 2028)

• Sequencing Services
• Data Analysis Services
• Drug Discovery Services
• Differential Gene Expression Analysis
• Database Management Services
• Others

Application Outlook ((Revenue, USD Billion, 2020 - 2028)

• Genomics
• Transcriptomics
• Metabolomics
• Drug Discovery

End Use Outlook (Revenue, USD Billion, 2020 - 2028)

• Agriculture
• Medical
• Animal
• Academic Users

Key Regions Covered in the Report:

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Market Overview:

The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.

Key Benefits of the Global Bioinformatics Services Market Report:

• In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks
• Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects
• Analysis and accurate forecast estimation of the Global Bioinformatics Services Market
• Study of the key players including SWOT analysis and Porter’s Five Forces
• Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution
• Study of the developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market features

To know more about the report @ https://www.reportsanddata.com/report-detail/bioinformatics-services-market

Highlights of the TOC of the report:

• Chapter 1: Market overview
• Chapter 2: Global Bioinformatics Services market analysis
• Chapter 3: Regional analysis of the Bioinformatics Services industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue analysis based on types and applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, Restraints, Challenges, and Opportunities
• Chapter 9: Gross Margin and Price Analysis
• So on

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