Bioinformatics Service Market

Bioinformatics Service Market Study by Sequencing, Data Storage & Management, Data Analysis, and Drug Discovery from 2024 to 2034

Analysis of Bioinformatics Service Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Bioinformatics Service Market Outlook (2024 to 2034)

The global bioinformatics service market size is pegged at US$ 4.28 billion in 2024, according to a new study published by Fact.MR. Global demand for bioinformatics services is predicted to accelerate at a CAGR of 14.7% and reach a market value of US$ 16.94 billion by the end of 2034.

Increasing R&D activities in genomics are predicted to become more integral in the healthcare sector. There is an increased requirement for bioinformatics services to interpret and analyze vast amounts of genomic data. Growing demand for bioinformatics services is predicted to be driven by several applications in drug discovery and personalized medicine.

Constant technological advancements taking place in high-throughput sequencing technologies, including NGS (next-generation sequencing), along with developments in computational algorithms and tools are predicted to stimulate requirements for specialized bioinformatics. These advancements are predicted to enable more efficient and accurate analysis of biological data.

  • Global demand for bioinformatics for drug development is projected to increase at 14.6% CAGR and reach a market value of US$ 3.73 billion by the end of 2034.
  • East Asia is predicted to contribute 15.7% of the bioinformatics service market share by 2034.
  • Sales of bioinformatics services in the United States are projected to advance at 13.5% CAGR and reach US$ 4.4 billion by 2034-end.

Noteworthy shift to precision medicine, which includes customized medical treatment according to individual characteristics such as genetics, is predicted to stimulate demand for bioinformatics services for the interpretation of genomic information for disease prognosis, diagnosis, and treatment. The biotech and pharmaceutical sectors rely heavily on bioinformatics for drug development, optimization, and discovery. Rising number of partnerships and collaborations between these bioinformatics service providers and industries is predicted to contribute to market expansion.

Increasing volume, complexity, and diversity of biological data is predicted to create challenges in data integration, storage, and management. Bioinformatics provides facilities for efficient handling and analysis of big data with improved efficiency.

Report Attributes Details
Bioinformatics Service Market Size (2024E) US$ 4.28 Billion
Forecasted Market Value (2034F) US$ 16.94 Billion
Global Market Growth Rate (2024 to 2034) 14.7% CAGR
North America Market Share (2034F) 29.4%
Japan Market Growth Tate (2024 to 2034) 14% CAGR
Canada Market Value (2034F) US$ 405.8 Million
Sequencing Segment Market Share (2034F) 39.9%
Key Companies Profiled
  • Illumine, Inc.
  • Strand Life Sciences, Inc.
  • Thermo Fisher Scientific
  • CD Genomics
  • Biomax Informatics AG
  • Agilent Technologies, Inc.
  • Gene Codes Corporation
  • BGI Group
  • PerkinElmer Inc.
  • Biomatters Geneious
  • Premier Biosoft
  • Creative-Biolabs
  • GSL Biotech LLC
  • FIOS Genomics

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Why is Demand for Bioinformatics Services Increasing at a Prolific Pace?

“Significant Decrease in Prices of Genome Sequencing”

Prices of genome sequencing are forecasted to decrease significantly during the assessment period from 2024 to 2034. This is attributed to technological advancements taking place in this space. The easy availability of efficient, modern, and accurate systems at economical prices and reduced sequencing costs are predicted to lead to a considerable increase in the adoption of the latest and more advanced sequencing technologies.

“Collaborations Between Pharmaceutical and IT Companies to Improve Healthcare Technologies”

Increasing collaborations between pharma and information technology companies are predicted to contribute to the bioinformatics service market growth. The majority of organizations are entering into partnerships and collaborations to innovate and improve pivotal healthcare technologies, which are closely associated with cloud computing. Therefore, the growing collaborations between pharma companies and IT companies are projected to drive market growth.

What Challenges are Prevalent in the Global Market?

“Increasing Data Complexity Adversely Impacting Bioinformatics Service Market Size Growth”

Data explosion owing to the rising number of biological experiments is predicted to generate requirements for a data-driven approach for bioinformatics service providers compared to conventional hypothesis-driven ones. A well-equipped infrastructure is required for high-dimension data storage, processing, retrieval, and analysis, which is predicted to add some additional prices for service providers, thus resulting in an adverse impact on market growth.

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What’s Projected to Help Start-ups Secure a High Market Position?

“Integration of Machine Learning and Artificial Intelligence in Bioinformatics Services”

Integration of machine learning (ML) and artificial intelligence (AI) techniques into bioinformatics services and tools is predicted to enhance their effectiveness in data analysis, predictive modeling, and pattern recognition. These initiatives by start-ups are forecasted to contribute to market expansion while addressing several biological research requirements, thus creating opportunities for them.

Country-wise Insights

North America is predicted to hold 29.4% share of the global market by 2034. This prominence of the region is attributed to a well-established regulatory framework for increased penetration of participants, which is predicted to subsequently generate market revenue. In addition, the establishment of various chemical laboratories, research institutions, etc., is projected to attract informatics service market trends.

Why is Demand for Bioinformatics Services Accelerating in the United States?

“Advancements in Genomic Research and Precision Medicine Initiatives”

Attribute United States
Market Value (2024E) US$ 1.24 Billion
Growth Rate (2024 to 2034) 13.5% CAGR
Projected Value (2034F) US$ 4.4 Billion

The United States is forecasted to hold 88.3% share of the North America market by 2034. The United States is operating at the forefront of precision medicine initiatives and genomic research. The growing availability of high-throughput sequencing technologies along with the requirements to analyze higher amounts of genomic data are projected to stimulate demand for bioinformatics services to derive and interpret insights from available data.

Why is There Huge Demand for Bioinformatics Services in China?

“Significant Growth of Pharmaceutical and Biotechnology Sectors”

Attribute China
Market Value (2024E) US$ 228.6 Million
Growth Rate (2024 to 2034) 17.1% CAGR
Projected Value (2034F) US$ 1.1 Billion

The pharmaceutical and biotechnology sectors are expanding at a rapid pace in China. The requirements for bioinformatics services are pivotal in drug development, discovery, and optimization of treatments. A significant expansion of these sectors leads to an increased demand for bioinformatics expertise in data interpretation and analysis.

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Category-wise Insights

Worldwide demand for bioinformatics services for drug development is predicted to increase significantly, as per the study published by Fact.MR, a market research and competitive intelligence provider. Bioinformatics ensures the identification of biomarkers, which are closely associated with diseases. Getting a deep understanding of these biomarkers is projected to aid in the development of targeted therapies and personalized medicines.

Which Type of Bioinformatics Service is Gaining Prominence across the World?

“Constant Advancements Taking Place in Genomics Propelling Demand for Sequencing Technology”

Attribute Sequencing
Segment Value (2024E) US$ 1.74 Billion
Growth Rate (2024 to 2034) 14.5% CAGR
Projected Value (2034F) US$ 6.75 Billion

Significant advancements are taking place in genomic research, which is predicted to generate requirements for sequencing technology for a better understanding of genetic mutations, variations, and their implications in disease, health, agriculture, and several other fields. In addition, the price of sequencing is predicted to decrease, therefore ensuring its accessibility to clinicians, researchers, and industries. The pocket-friendly nature of sequencing technologies is projected to lead to their increased adoption and installation.

Constant innovations taking place in sequencing technologies, such as single-cell sequencing and next-generation sequencing, are forecasted to lead to improved accuracy and speed of sequencing. These advancements are projected to make them more effective for genomic studies conducted on a larger scale.

Why Need for Bioinformatics Services Increasing for Drug Development?

“Adoption of Bioinformatics Services Facilitating Development of More Effective and Safer Drugs”

Attribute Drug Development
Segment Value (2024E) US$ 953.5 Million
Growth Rate (2024 to 2034) 14.6% CAGR
Projected Value (2034F) US$ 3.73 Billion

The drug development segment is predicted to hold 22% share of the global market by 2034. Advancements taking place in biotechnology are predicted to lead to the explosion of biological data, which is generated from several sources, such as proteomics, genomics, metabolomics, and others. Bioinformatics contributes significantly to the management, analysis, and interpretation of these massive datasets, thus aiding in drug discovery.

Bioinformatics tools assist in the identification of potential drug targets while analyzing protein structures, genomic data, and biological pathways. This is projected to accelerate the procedure of selecting and validating respective drug targets, thereby enhancing the process of drug discovery.

Competitive Landscape

The market for bioinformatics services is highly competitive because of the presence of some prominent players. Key players in the market are minimizing drug development expenses while shifting their focus from software outsourcing to offering in-house solutions. Furthermore, ensuring quality control of products and new developments are predicted to help players get a competitive edge.

Leading players in the bioinformatics service market are Illumine, Inc., Strand Life Sciences, Inc., Thermo Fisher Scientific, CD Genomics, DNANEXUA, INC., Biomax Informatics AG, Agilent Technologies, Inc., Gener Codes Corporation, BGI Group, QIAGEN N.V., PerkinElmer Inc., Biomatters Geneious, Premier Biosoft, Creative-Biolabds, GSL Biotech LLC, DNASTAR, and FIOS Genomics

Segmentation of Bioinformatics Service Market Research

  • By Service Type :

    • Sequencing
    • Data Storage & Management
    • Data Analysis
    • Drug Discovery
    • Others
  • By Application :

    • Drug Development
    • Molecular Medicine
    • Microbial Genome Applications
    • Gene Therapy
    • Veterinary Science
    • Forensic Analysis
    • Others
  • By End Use :

    • Academic & Research Centers
    • Pharmaceuticals & Biotechnology
    • Forensic Laboratories
    • Others
  • By Region :

    • North America
    • Europe
    • East Asia
    • Latin America
    • Middle East & Africa
    • South Asia & Oceania

- FAQs -

How big is the bioinformatics service market in 2024?

The global bioinformatics service market is pegged at US$ 4.28 billion in 2024.

What is the sales projection for bioinformatics services for 2034?

Sales of bioinformatics solutions are projected to reach US$ 16.94 billion by the end of 2034.

At what rate is the demand for bioinformatics services forecasted to rise?

Demand for bioinformatics services is forecasted to accelerate at a CAGR of 14.7% from 2024 to 2034.

What portion of the market is expected to be held by North America?

North America is projected to account for 29.4% share of the global market by 2034.

What is the demand projection for bioinformatics services in Canada?

Demand for bioinformatics services in Canada is forecasted to increase at 12.3% CAGR from 2024 to 2034.

At what rate are the sales of bioinformatics services projected to advance in Japan?

Sales of bioinformatics services in Japan are projected to rise at a CAGR of 14.9% from 2024 to 2034.

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Bioinformatics Service Market

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