Bioinformatics Market Growth, Trends and Investment Opportunities
The bioinformatics market, valued at $11.53 billion in 2023, is expected to grow significantly, reaching $47.48 billion by 2034. This growth, with a compound annual growth rate (CAGR) of 13.73% from 2024 to 2034, is fueled by the growing demand for genomic and proteomic research, advancements in drug discovery and development, and ongoing technological innovations in the field.
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Bioinformatics Market Genomics and Beyond
Bioinformatics is a field that combines computational technology with biology to collect, store, analyze, and share biological data. It uses various scientific and technological methods to interpret complex biological information. This discipline is vital for understanding gene and protein expression, regulation, and evolutionary biology. In structural biology, bioinformatics helps model and simulate DNA, RNA, proteins, and molecular interactions. One of its greatest achievements is analyzing genome sequences, notably the Human Genome Project.
The growing focus on drug discovery and the identification of new drug targets is driving increased demand for bioinformatics. Advances in DNA sequencing and the expansion of research into human health and biology continue to fuel the market. Additionally, supportive government policies for research in genomics, proteomics, metabolomics, and transcriptomics are further boosting market growth.
Bioinformatics Market Trends
- In September 2024, the World Health Organization (WHO) hosted a workshop to improve genomic surveillance, data sharing, and bioinformatics analysis for respiratory viruses. This initiative is aimed at enhancing the global capacity for genomic surveillance under the Global Influenza Surveillance and Response System (GISRS).
- In September 2024, Almaden Genomics launched a new Data Management and Informatics Services business to help researchers, pharmaceutical companies, and biotech organizations overcome bioinformatics and computational biology challenges.
- In August 2024, Inocras, Inc. announced the availability of whole genome sequencing services using the UG 100 sequencer from Ultima Genomics, Inc.
Leading Companies in the Bioinformatics Market
- Illumina, Inc.
- Thermo Fisher Scientific
- Agilent Technologies, Inc.
- Qiagen
- Verge Genomics
- Bio-Rad Laboratories, Inc.
- Biomax Informatics
- DNAnexus
- Geneva Bioinformatics
- Waters Corporation
- Perkin Elmer, Inc.
- Fios Genomics
- Eurofins Scientific
Recent Insights from Industry Leaders
Li Qing, Senior Vice President and General Manager for Greater China, highlighted the rapid evolution of genomics, emphasizing the crucial role DNA sequencing plays in human health and environmental sustainability. He also shared his vision for the future, where genomics will shift from focusing on “sick care” to “health care,” aiming to enhance overall human well-being.
Recent Developments in Bioinformatics
- In January 2024, researchers from Genomic England introduced a bioinformatics pipeline designed to integrate whole-genome sequencing (WGS) data from 13,880 tumors with corresponding clinical data from patients. Their study uncovered both somatic and germline DNA mutations that influence prognosis.
- Also in January 2024, researchers at the Würzburg Helmholtz Institute unveiled a machine learning approach that combines data integration and AI to predict the effectiveness of CRISPR technologies with greater accuracy than previous methods.
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/bioinformatics-market-sizing
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