Bioinformatics Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Bioinformatics Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Healthcare IT | PPT format

Report Digest


Bioinformatics Services Market Introduction

Bioinformatics is the field mainly involving molecular biology, genetics, mathematics, statistics, and computer science. The bioinformatics services include analysis of the data that can range from processing sequencing reads from instrument to data aggregation and mining data samples. Bioinformatics services can help biologists to understand the biological process with a computational intensive technique for machine learning algorithms, pattern recognition, data mining and visualization.

Bioinformatics tools can help to compare genomic and genetic data and understand evolutionary aspects of molecular biology. Bioinformatics services are finding wide application in chemoinformatics, genomics, metabolomics, RNA-seq analysis, and drug design. The database is an important part for bioinformatics research and application to cover various information types including molecular structure, protein and DNA sequences, and phenotypes in bioinformatics services.

Bioinformatics Services Market: Notable Highlights

  • Thermo Fisher Scientific has decided to stop selling its genetic sequencing equipment in Xinjiang, China as it may be used to create DNA database of Uighur minority in the Country. Meanwhile, Thermo Fisher Scientific recently signed an agreement to sell its Anatomical Pathology business to PHC Holdings.
  • In 2018, CD Genomics launched premier RNA-seq services for accurate and cost-efficient gene profiling. It will also enable the discovery of new gene structures.
  • NRGene along with Macrogen Corp. launched ArrayMAGIC, a sequencing based genotype service. It provides ultra-high density SNP genotyping, while offering cost-effective and convenient genotyping.
  • Macrogen’s NGS labs in Korea has officially received Clinical Laboratory Improvement Amendments (CLIA) accreditation. The company is the first one to receive CLIA accreditation in Korea.
  • QIAGEN has entered into a partnership with Ares Genetics to develop new bioinformatics and assay solutions in order to support research targeting various global health challenges by antibiotic resistant pathogens.
  • MedGenome has taken over the Center for Genetic Health Care (CGHC) in Mumbai, India. It will be called as MedGenome-CGHC and will have team of experienced scientists, medical geneticists and bioinformatics.

Some of the most prominent competitors operating in the competitive landscape of global bioinformatics services market include –

  • CD Genomics
  • Illumina
  • NeoGenomics
  • Thermo Fisher Scientific
  • PerkinElmer
  • BGI
  • Microsynth
  • QIAGEN
  • BaseClear
  • Fios Genomics
  • MedGenome
  • GENEWIZ
  • Macrogen

Bioinformatics Services Market Dynamics

Bioinformatics Services Finding Wide Application in Personalized Medicine Discovery

With the increasing prevalence of various diseases, new treatments and drugs are being discovered and developed. Extensive molecular biological data on patients is being included on a large scale in diagnosis and treatment. Bioinformatics services is fundamental to precision medicine as developing personalized medicine depends on accessing genetic and molecular data. In recent years, the majority of the molecularly targeted drugs have been developed based on the detected gene mutation.

Next-gen sequencing in bioinformatics services is emerging as an important tool in genomic analysis and developing personalized medicine. Next-gen sequencing along with microarrays in bioinformatics services have also paved the way for precision medicine in oncology. Meanwhile, increasing availability and decreasing the cost of next-gen sequencing is allowing worldwide cancer centers to offer next-gen sequencing based personalized oncology for clinical practice while suggesting specific medicine and treatment.

Increasing Initiatives by Governments and Private Organizations in Bioinformatics Services

With increasing application of new technologies in life science, governments and organizations across various countries are investing in the new technologies and in research and development activities in bioinformatics services. According to the Global Alliance for Genomics and Health (GA4GH), around 60 million genomes are likely to be sequenced by 2025. Moreover, with the presence of national clinical genomic initiatives worldwide, the generation of genomic data in healthcare is expected to outpace that in research in the coming years. Governments across countries are increasingly investing in the biotechnology and bioinformatics services to effectively implement new technologies and support genomic and epidemiological research.

Countries such as the US, UK, Australia, France, Japan, Saudi Arabia, Qatar, Denmark are developing new strategies for projects focusing on cancer and rare diseases, along with the use of sequencing services and genomic data. New research activities are also being conducted for application of bioinformatics services in biodefense. The Mid-Atlantic Microbiome Meet-up (M3) is focusing on the use of next-generation sequencing technologies and recent advances in biodefense, especially related to infectious diseases, and also using metagenomic methods for detection.

Shortage of Skilled Workforce and High Cost Hampering the Bioinformatics Services Market Growth

Although bioinformatics services is emerging as an important part of research in life science, lack of skills and knowledge in bioinformatics is hindering its growth. With the technological and process advancements in biotechnology, it has become imperative that bioinformatics techniques are performed by skilled personnel. However, the need for heavy investment in tool upgradation and installation training is impeding the growth of bioinformatics services. Owing to this there is a lack of skilled manpower in bioinformatics services who can adapt to the high-end bioinformatics techniques and processes.

Moreover, the lack of skilled professionals in bioinformatics services is also hampering the growth of clinical laboratories as they are focusing to automate processes. However, in recent years, governments along with healthcare institutions are focusing on strategies to provide new courses in bioinformatics as it holds a big promise in solving many health related and environmental issues.

Bioinformatics Services Market Segmentation

Based on the type, the bioinformatics services market is segmented into

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

On the basis of application, the bioinformatics services market segment includes

  • Chemoinformatics and Drug Design
  • Transcriptomics
  • Genomics
  • Proteomics
  • Metabolomics
  • Others

Based on the specialty, the bioinformatics services market is segmented into

  • Animal Biotechnology
  • Environmental Biotechnology
  • Medical Biotechnology
  • Forensic Biotechnology
  • Plant Biotechnology      

Based on the end-user, the bioinformatics services market segment includes

  • Pharmaceutical & Biotechnology Companies
  • Academic Institutes & Research Centers 
  • Hospitals & Clinics 
  • Others 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?