How Is The Bioinformatics Services Market Evolving And What Is Its Future Outlook?
The bioinformatics services market size has grown rapidly in recent years, expanding from $4.15 billion in 2024 to an anticipated value of $4.78 billion in 2025 at a compound annual growth rate (CAGR) of 15.2%. This historic growth can be attributed to advancements in genomic research, the rise of personalized medicine, an increase in pharmaceutical R&D investments, and a boom in biological data due to government initiatives in healthcare and the widespread adoption of next-generation sequencing (NGS).
The bioinformatics services market size is primed for further rapid growth, expected to reach $9.38 billion by 2029 at a CAGR of 18.4%. This anticipated growth is driven by the expanding role of bioinformatics in clinical diagnostics, its increasing importance in agriculture and environmental sciences, collaboration in research, and rising demand in drug repurposing. Looking forward, key trends include digital health initiatives, technological advancements in sequencing, AI and machine learning integration, cloud-based solutions, personalized medicine and genomic analysis, and incorporation of blockchain for data security.
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What Factors Are Propelling Bioinformatics Services Market Growth?
The growth of the bioinformatics services market is driven by the increasing utilization of information technology in healthcare. Enhanced patient treatment, efficiency, patient safety, cost reduction, and improved communication among healthcare professionals are some of the benefits of information technology in healthcare. With bioinformatics services relying heavily on IT for analyzing biological data, this increased use of technology fuels market growth. For example, according to the US-based National Center for Health Statistics, as of December 2022, 58.5% of US adults used the Internet for health or medical information, 41.5% communicated with doctors or doctor’s offices online, and 46.1% sought online access to medical test results. This extensive use of information technology in healthcare is driving the growth of the bioinformatics services market.
Which Segments Dominate The Bioinformatics Services Market?
The bioinformatics services market can be segmented as follows:
1) By Service: Sequencing Services, Data Analysis, Drug Discovery Services, Differential Gene Expression Analysis, Database And Management Services, Other Services.
2) By Specialty: Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology.
3) By Application: Genomics, Chemoinformatics And Drug Design, Proteomics, Transcriptomics, Metabolomics, Other Applications.
4) By End User: Academic Institute And Research Centers, Hospital And Clinics, Pharmaceutical And Biotechnology Companies, CROs, Other End Users.
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Who Are The Major Players In The Bioinformatics Services Market?
Key companies operating in the bioinformatics services market include QIAGEN Digital Insights, Thermo Fisher Scientific Inc., Illumina Inc., DNAnexus Inc., PerkinElmer Inc., Biomax Informatics AG, Life Technologies Corporation, BGI Group, Eurofins Scientific SE, NeoGenomics Laboratories Inc., CD Genomics Inc., MedGenome Labs Pvt. Ltd., Fios Genomics Ltd., Geneva Bioinformatics SA, and GVK Biosciences Private Limited amongst others.
What Are The Dominant Emerging Trends In The Bioinformatics Services Market?
Technological advancements are a key trend emerging in the bioinformatics services market. Companies in this sector are increasingly adopting new technologies to remain competitive. For instance, in July 2022, bitBiome Inc., a Japan-based microbiome analysis company, launched the Enzyme Discovery service, which is based on the world’s largest microbial genome database and unique bioinformatics technologies. Utilizing its unique bioinformatics and 3D structural modeling technologies, BitBiome offers enzyme discovery services such as optimal sequences searching from the microbial genome database.
Which Region Holds The Largest Share In The Bioinformatics Services Market?
In 2024, North America held the largest share in the bioinformatics services market. Europe, however, is expected to be the fastest-growing region in the global bioinformatics services market during the forecast period. Other regions covered in the bioinformatics services market report include Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
What Does The Bioinformatics Services Global Market Report 2025 Offer?
Bioinformatics services involve a range of computational tools, resources, and analyses used in bioinformatics. These services include identifying connections between technical and biological variables in studies through the assessment of sample metadata, data quality control, and data normalization across samples. The Bioinformatics Services Global Market Report 2025 research from The Business Research Company offers global market size, growth rate, regional shares, competitor analyses, detailed segments, trends, and opportunities.
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