Bioinformatics Services Market Research, 2027
The bioinformatics services market is projected to reach USD 5.3 Billion by 2026 from USD 2.5 Billion in 2021, at a CAGR of 15.8% during the forecast period. Growing applications of bioinformatics across industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals (leading to increased outsourcing of bioinformatics projects) are the major factors that are expected to drive the growth of the bioinformatics services market during the forecast period.
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Bioinformatics is an interdisciplinary field that combines biology, computer science, and data analysis to manage and analyze biological data, particularly DNA, RNA, and protein sequences.
Key Market Players
Bioinformatics Services Market is dominated by Thermo Fisher Scientific (US), Eurofins Scientific (Luxembourg), NeoGenomics (US), Illumina (US) and PerkinElmer (US).
Thermo Fisher Scientific (US) holds the leading position in the global bioinformatics services market. The strong geographic presence across major markets is supporting the growth of the company’s market share. The company primarily focuses on developing technologically advanced bioinformatics solutions to enhance its bioinformatics service offerings.
Eurofins Scientific held the second-largest share of the bioinformatics services market in 2020. It has maintained its position in the global bioinformatics services market due to its wide geographic presence and a broad range of bioinformatics services. The acquisition of GATC Biotech (Germany) further strengthened its service offerings and position in the market.
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Key components and services within the bioinformatics services market include:
Sequence Analysis: This involves the analysis of DNA, RNA, and protein sequences, including tasks such as sequence alignment, assembly, and annotation.
Structural Bioinformatics: This area focuses on the prediction of protein structures, including 3D modeling, molecular docking, and structural alignment.
Functional Genomics: Functional genomics studies aim to understand the functions of genes and how they interact within biological systems.
Comparative Genomics: Comparative genomics involves comparing the genomes of different species to identify similarities and differences.
Metagenomics: Metagenomics services analyze genetic material directly from environmental samples, such as soil or water, to study microbial communities.
Data Management and Integration: Managing and integrating diverse biological datasets is a critical service. It includes data storage, retrieval, and integration into bioinformatics workflows.
Software and Tool Development: Many bioinformatics tools and software packages are developed to perform specific analyses. Service providers may develop custom software or adapt existing tools for clients' needs.
Consulting and Training: Bioinformatics service providers often offer consulting services to help researchers design experiments, choose appropriate analysis methods, and interpret results.
Data Visualization: Visualization tools and services help researchers to present their data in a comprehensible manner, aiding in data interpretation and communication of findings.
North America dominated the global bioinformatics services market
The North American market dominated the market. The growth in North America can be attributed to government initiatives for the reimbursement of genomic testing and favorable funding scenario for research activities.
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