The bioinformatics market is expected to grow at a CAGR of 18.15% to reach a market size of US$21.229 billion in 2023, increasing from US$7.805 billion in 2017. Bioinformatics is the application of information technology to the study of living things, usually at the molecular level. It involves the use of computers to collect, organize and use biological information to answer questions in fields like evolutionary biology. With biomedical research becoming data-intensive, bioinformatics is gaining traction. The market is expected to grow at a steady pace owing to the rising adoption of Artificial Intelligence (AI) in bioinformatics in research and healthcare sector.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the bioinformatics value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the bioinformatics market.
Key five industry participants profiled as part of this section are Ayasdi, Inc., SciGenom Labs Pvt. Ltd, TeselaGen, Hybrigenics, Agilent Technologies, and DNAnexus among others.
The bioinformatics market has been segmented as follows:
By type of Biological data:
Gene Expression Profiles
Personal and Preventive Medicine
Crop Improvement and Insect Resistance
Middle East and Africa (MEA)
Asia Pacific (APAC)