Bioinformatics Market: Historical Size and Share Analysis, Future Growth Potential, Key Regions, Forecast till 2030

Market Overview

The bioinformatics market will be valued at USD 24,871.4 million by 2030, growing from an estimated USD 10,989 million in 2023 at a rate of 12.4% between 2023 and 2030.

The biggest factors responsible for the growth of the industry are the increasing requirement for nucleic acid and protein sequencing, rising number of initiatives by government and private organizations to create DNA data repositories, booming investments in genomics and proteomics, and extensive research for drug discovery and molecular biology. In July 2021, NIT-R launched its Centre for Bioinformatics and Computational Biology, where big data analysis is used to develop biomarkers and therapeutic approaches.

Bioinformatics is a combination of biology and IT, linking biological data with methods for its storage distribution, and analysis, for supporting numerous areas of medical research. It makes use of software tools for the creation of repositories, management of information, and data warehousing and mining.

Mining this kind of data leads to scientific discoveries that could be vital in the study of the genome. The field comprises numerous specialized and advanced areas of life sciences, such as functional genomics, structural genomics, comparative genomics, DNA microarrays, and medical information. Hence, COVID-19 had a positive impact on the market as these tools were used to handle the huge biological data volumes generated during patient diagnosis, epidemiological and comorbidity studies, and vaccine R&D.

Growing Pharmaceutical and Biotechnology Industries Are Driving Market 

One of the biggest drivers for the market is the continuous growth of the pharmaceutical and biotechnology industries. Due to the critical nature of drug research & discovery processes, massive volumes of data need to be stored, managed, and analyzed. The data is usually related to disease epidemiology & incidence, current approved treatments, patient histories & physiology, chemistry of the under-development drug molecules, and trial findings.

This is why genomics, proteomics, cheminformatics, metabolomics, and transcriptomics are essential aspects of clinical and pharmaceutical research. Further, with the growing preference for precision medicine and targeted treatments, the need for software platforms to aggregate this huge amount of healthcare data continues to increase.

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North America Is Leader of the Market

North America is the leader of the industry in 2023 because of the increase in research on genetic engineering and nucleic acid modification, rise in the investment for the discovery of new drugs with metagenomic and proteomic approaches, and surge in the understanding of what biological data could reveal about the historical and present populations.

The growing count of innovations in the field of molecular biology processes, high acceptance of novel healthcare technologies, and escalation in the count of proteomic & genomic research studies also drive the industry. The U.S. makes a significant contribution to research in various fields of medical sciences, driven by its technologically advanced infrastructure, high incidence of all kinds of diseases, and a growing geriatric population. Moreover, hefty sums are being poured into private and public gene therapy research studies and for the development of drugs, since people in the U.S. can pay more for novel treatments.

For instance, in April 2022, ATCC publicized an agreement with Qiagen for offering the latter sequencing data from its catalog of human and animal biological materials, including cell lines. Qiagen will store this information in a database, to develop and provide high-value digital biology content to the biotech and pharma industries. This will allow for the usage of genuine biological data for discovering new therapeutic targets and disease pathways.

APAC will witness significant growth till the end of this decade. The existence of trained bioinformaticians and the development of the IT sector will improve the competence of delivering outsourced services to advanced economies. The supportive government policies will also help in the growth of the industry. Moreover, Australia’s Commonwealth Scientific and Industrial Research Organisation and Walter and Eliza Hall Institute are actively conducting research utilizing bioinformatics platforms. Other major markets in the region for these solutions are China, Japan, South Korea, and India.

Europe will also have a significant share in the market in 2030, driven by the increasing investments in the healthcare industry and the rising acceptance of AI and IoT. Germany, the U.K., and France are the foremost centers for healthcare and life sciences research in the continent and home to almost all major pharmaceutical and biotechnology companies.

Genomics Application Has Largest Share

The genomics category dominates the application segment in 2023. The adoption of bioinformatics solutions in genomics is on the rise because of acceptance of new technologies. They are widely used in pharmacogenomics for managing large data volumes in secure, easily accessible, and user-friendly repositories. The sequencing technology is extensively used to analyze people’s genetic makeup, and the related stored data is further used during the development of drugs, specifically to ascertain the risk of adverse drug reactions.

The proteomics category will grow considerably during the forecast period, credited to the increasing count of R&D initiatives and the high funding for technological developments. The study of proteins, their synthesis and expression, and the effects they have on the human body is necessary for disease diagnosis, drug development, and biomarker discovery. Such studies generate massive volumes of biological data, which needs advanced technologies and algorithms to be stored, analyzed, and managed.

Biomatrices Platforms Held Largest Share

Platforms holds the largest revenue share in the offering segment in 2023, and this trend will continue over this decade. This is because of the surge in the usage of these platforms and the rise in the requirement for better tools in the development of drugs. Bioinformatics plays a key role in helping biotechnology, pharmaceutical, and research firms identify the structure of genes and the DNA and modify it, in order to prevent or treat diseases.

This further helps in drug designing and evaluation of their therapeutic effects during the pre-clinical and clinical stages. The need for such extensive analysis is driven by the ever-present concerns with the effectiveness and safety of pharmaceuticals and the government regulations implemented in this regard.

Within the platforms category, the sequence analysis division will grow significantly during 2023–2030. Sequence analysis is the procedure of subjecting an RNA, DNA, or peptide sequence to analytical tests, for understanding its features, structure, function, and evolution. The progressions in the NGS technology, with regard to read length, throughput, and precision, have had a key impact on microbiome research. These progressions have considerably improved 16S rRNA amplicon sequencing.

Service Demand To also Grow Considerably

The demand for bioinformatics services will have significant growth over this decade, driven by an increase in the need for data sequencing and analysis for various clinical and R&D purposes. Among the services available, data extraction and consulting are high in demand, as these processes require technical expertise, which end users may not always possess. Further, the outsourcing of pharmaceutical and medical device R&D activities drives the need for quick research data extraction services.

Key Players in Bioinformatics Market:

• Thermo Fisher Scientific Inc.
• Eurofins Scientific
• QIAGEN N.V. 
• Agilent Technologies Inc.
• Illumina Inc.
• Waters Corporation
• NeoGenomics Laboratories
• Perkin Elmer Inc.
• Fios Genomics
• Source BioScience
• Labvantage - Biomax GmbH
• Dassault Systemes