Bioinformatics Market Size to Hit $8.3 Billion by 2027 | Exhibit a CAGR of 12.4% (202-2026)

September 17 00:05 2022
Bioinformatics Market Size to Hit $8.3 Billion by 2027 | Exhibit a CAGR of 12.4% (202-2026)
Market Research Reports, Business Consulting Services & Analytics
Bioinformatics Market size was valued at $8.3 billion in 2020, growing at a CAGR of 12.4% during the forecast period 2021-2026. The Occurrence Of Rare Diseases Is Projected To Upsurge Market Growth

IndustryARC, in its latest report, predicts that Bioinformatics Market size was valued at $8.3 billion in 2020, growing at a CAGR of 12.4% during the forecast period 2021-2026. Proteomics is the study of proteomes on a vast scale. A proteome is a collection of proteins made by a living creature, system, or biological milieu. Single nucleotide polymorphisms (SNPs) is a useful tool for determining the genetic basis of disease. In genome-wide association studies and fine-scale genetic mapping initiatives, these variants can be utilized as markers. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.


Key takeaways:

1. A single nucleotide polymorphism, or SNP (pronounced “snip”), is a difference in the DNA sequence at a single place between individuals. DNA is made up of a chain of four nucleotide bases: A, C, G, and T.

2. The rise in bioinformatics platform application can be ascribed to an increase in demand from life science companies for structural identification and customization. This, in turn, would aid in the development of drugs and the assessment of their therapeutic effects. Furthermore, as drug research and discovery become more efficient and safe, the demand for new tools in drug development grows. As a result, the bioinformatics market is likely to grow in the future.

3. A detailed analysis of the main players functioning in the Bioinformatics Market’s Strengths, Weaknesses, and Opportunities will be provided in the report.


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Segmental Analysis:

1. The Knowledge Management Tools segment is poised to grow with the fastest CAGR of 13.6% in the forecast period 2021-2026. Researchers utilize knowledge management technologies to deal with vast amounts of diverse data.

2. The use of bioinformatics in clinical diagnostics is primarily driven by the development of new databases for drug discovery, the use of bioinformatics for clinical diagnostics, and increased funding for the development of bioinformatics solutions for clinical diagnostics, all of which are contributing to the growth of the medical biotechnology segment in the market.

3. The Animal Biotechnology segment is predicted to grow with the fastest CAGR of 13.8% in the forecast period 2021-2026. In the veterinary sciences, it has become an essential tool for both basic and applied research. Bioinformatics has advanced veterinary research by introducing new tools for identifying vaccination targets based on the sequencing of biological data from organisms.

4. Based on Geography, North America Bioinformatics accounted for the 35% revenue share in 2020. The increased adoption of IoT technologies in this industry is likely to have a beneficial impact on regional market growth.


Competitive Landscape:

The top 5 players in the Bioinformatics industry are –

1. Permin Elmer Inc.

2. Applied Biologicals Materials

3. Fios Genomics

4. Partek Incorporated

5. SOPHiA Genetics


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Related Reports:

A. Bioinformatics Services Market

B. Biomedical Sensor Market

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