Bioinformatics Market to Surpass US$ 83.9 Bn by 2030 - Coherent Market Insights

Global Bioinformatics Market, By Product (Bioinformatics platforms, Bioinformatics services), By Application (Genomics, Chemoinformatics and drug design, Proteomics, Transcriptomics, Metabolomics, Molecular Phylogenomics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$  22.1 Bn in 2023 and is expected to exhibit a CAGR of 21.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Key market players are focused on adopting growth strategies such as partnerships, and this is expected to drive the global Bioinformatics market growth. For instance, in August 2021, Partek  bioinformatics software delivers powerful statistical and visualization tools in an easy-to-use interface, announced it has entered into an agreement with Santa Clara, California-based Agilent Technologies to integrate its Partek Flow bioinformatics software with the Agilent Alissa Clinical Informatics platform, providing an end-to-end analysis workflow that is customizable for Agilent's customers. Moreover, in August 2022, Hoya Corporation, a bioinformatics technology innovation company, announced that it had entered into a strategic joint venture (JV) with Jiangsu Sigo, a China-based plastic manufacturer. The partnership provides Hoya Corporation with access to a wider range of high-quality plastic and polycarbonate finishes, enhancing the company’s existing bioinformatics portfolio, and providing a more sustainable supply chain for customers.

Global Bioinformatics Market– Impact of Coronavirus (COVID-19) Pandemic

The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.

COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of things from one place to another.

COVID-19 had a positive impact on the global bioinformatics market. Bioinformatics was used for the development of drugs and vaccines. Moreover, various strategic alliances were formed during the COVID-19 pandemic in the global bioinformatics market. For instance, in November 2021, the U.K. government announced the COVID-19 Genomics UK Consortium in March 2020 with a US$ 21 million investment to sequence the genomes of SARS-CoV-2, the virus involved during the COVID-19 epidemic, using genome sequencing. The Public Health Agencies and the NHS and a number of research institutes make up the COVID-19 Genomics UK Consortium.

Global Bioinformatics Market: Key Developments

On May 10, 2023, Illumina, Inc. is innovative technologies to the analysis of genetic variation and function, reported future of precision metagenomics in treating infectious disease in lab Advanta Genetics makes the case for increased molecular diagnostics to combat drug resistance.

In April 2021, Life Technologies Corporation announced the launch of Vector NTI Express Designer, the latest advancement in its Vector NTI software platform, which offers researchers comprehensive and streamlined custom vector and genetic construct design and synthesis. The desktop software tool is designed for molecular biology, metabolic engineering, genetic engineering, and synthetic biology professionals who want to rationally design, assemble and order synthetic genetic "parts," optimizing genetic components for a broad range of applications.

In June 2022, Agilent Technologies Inc. is in genomics technology, announced it has used Amazon Elastic Compute Cloud (Amazon EC2) G5g instances powered by Amazon Web Services (AWS) Graviton2 processors and featuring NVIDIA T4G Tensor Core GPUs, in combination with NVIDIA Clara Parabricks’ advanced genomics analysis capabilities, to significantly improve processing speeds for variant calling workflows on Agilent’s cloud-native Alissa Reporter software.

On February 20, 2023, AstraZeneca is science-led biopharmaceutical business and innovative medicines are used by millions of patients worldwide, combined team of computational and molecular biologists, along with Benchling, have created the FRAGLER (FRAGment recycLER), a novel solution for the whole DNA synthesis industry.

Browse 33 Market Data Tables and 28 Figures spread through 178 Pages and in-depth TOC on “Global Bioinformatics Market”- Forecast to 2030, Global Bioinformatics Market, By Product (Bioinformatics platforms, Bioinformatics services), By Application (Genomics, Chemoinformatics and drug design, Proteomics, Transcriptomics, Metabolomics, Molecular Phylogenomics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/bioinformatics-market-4158

Key Takeaways of the Global Bioinformatics Market:

• The global Bioinformatics market is expected to exhibit a CAGR of 21.0% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global bioinformatics market.
• Among Product, the bioinformatics platform is expected to hold a dominant position in the global bioinformatics market during the forecast period, owing to major players in the market being also focused on raising funds to enhance their market share. For instance, in September 2020, bitBiome, Inc. is a synthetic biology company built from their proprietary microbial single-cell microfluidic sequencing technology, raised US$ 6.6 million in Series B financing from previous and new investors including The University of Tokyo Edge Capital Partners, Universal Materials Incubator, and other Japan-based venture capital firms.
• Among region, North America is expected to be the dominant region in the global bioinformatics market, owing to the key players focusing on inorganic strategies such as definitive agreements. For instance, in July 2021, Beckman Coulter, a clinical diagnostics company, announced that it had entered into definitive agreements with Quidel Corporation a manufacturer of diagnostic healthcare products in the U.S., to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers. Under the terms of the agreements, Quidel will continue to manufacture and supply certain components to Beckman Coulter related to the assay, and Beckman Coulter will exclusively manufacture and sell to customers the BNP assay currently sold as TRIAGE BNP by Quidel, under the brand name Access BNP.
• Major players operating in the global bioinformatics market are Active Motif, Inc., Illumina, Inc., Life Technologies, Affymetrix, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Qiagen, Knome, Inc., GE Healthcare, Geneva Bioinformatics SA, Quest Diagnostics, bitBiome, Inc., Intomics, Advanced BioInformatics GmbH, and Fios Genomics Ltd.