Global Bioinformatics Market is projected to grow at a healthy rate of 13-14% by 2027

BRUSSELS - July 18, 2023 - PRLog -- Bioinformatics is an interdisciplinary field brings together computer science, mathematics, physics, and biology. It is a branch of research that creates software tools and methods for data management and analysis in modern biology and medicine.

Enhancements in Bioinformatics Technology Fuel the Market

The bioinformatics market is a fast growing market. The advancement of technology in genomic and proteomic research has resulted in the collection of massive amounts of data that require bioinformatics tools and software for analysis and interpretation.

§  In November 2022, Through its collaboration with ATCC, the premier biological materials organisation, producer, and supplier of authenticated cell lines, and QIAGEN's bioinformatics business division QDI, the company introduced a new cell line database.

Global Bioinformatics Market is Being Driven the Growing Demand for Bioinformatics in the Field of Genomics

With the growing desire for personalized medicine and precision healthcare, there is an increase in demand for nucleic acid and protein sequencing, which is propelling the bioinformatics market forward. The increasing quantity of funds from private and public organizations, as well as supportive government measures to promote genomics research, are pushing the global market adoption of bioinformatics tools and services.  For instance,

§  In April 2023, Agilent Technologies signed a Memorandum of Understanding (MOU) with Theragen Bio (http://www.theragenbio.com/) to enhance precision oncology through advancing bioinformatics (BI) solutions. This collaboration will combine their respective strengths and accelerate treatment decisions

North America Holds the Majority of the Global Bioinformatics Market Share

In the coming years, North America is likely to continue to lead the worldwide bioinformatics market. This is mostly due to an increase in the quantity of genetic research investigations, increased knowledge and acceptance of bioinformatic services, a well-developed healthcare system, and the presence of significant regional companies.

Competitive Landscape Analysis of the Bioinformatics Market

Agilent, Biomax Informatics, QIAGEN, Thermo Fisher, PerkinElmer Inc., Illumina, Eurofins Scientific, DNASTAR, NeoGenomics Laboratories, Fios Genomics, Source BioScience, SOPHiA GENETICS, among others.

Organic and inorganic growth strategies used by firms to get a market foothold

§  In April 2022, IPA (IMMUNOPRECISE ANTIBODIES LTD.) acquired BioStrand which is a group of Belgian biotech entities and pioneers in the field of bioinformatics and biotechnology. This collaboration will improve its antibody discovery capabilities by incorporating the BioStrand AI-driven technologies

The bioinformatics market is growing and is expected to gain further traction in the coming years as a result of a strong emphasis on developing new drugs and therapies, investment in R&D to introduce several advanced products, and aggressive organic and inorganic growth strategies employed by the players.

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