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:
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