The bioinformatics services market is witnessing significant growth, driven by advancements in genomics, increasing demand for personalized medicine, and the integration of artificial intelligence (AI) in data analysis.
The global bioinformatics services market size was valued at USD 5.34 billion in 2024 and is expected to grow from USD 6.51 billion in 2025 to USD 18.13 billion by 2032, registering a compound annual growth rate (CAGR) of 15.8% during the forecast period.
Top Companies in the Market
- Illumina, Inc. (U.S.)
- QIAGEN (Netherlands)
- CD Genomics (U.S.)
- Excelra (U.S.)
- Creative Proteomics (U.S.)
- Fios Genomics (U.K.)
- Thermo Fisher Scientific Inc. (U.S.)
- Eurofins Scientific (Luxembourg)
- Psomagen (U.S.)
Key Industry Development
In June 2023, Psomagen expanded its service offerings by adding the Pacific Bioscience Revio system to its sequencing platform. This addition enables services such as whole genome sequencing, whole exome sequencing, single-cell and bulk RNA sequencing, microbiome analysis, and Olink proteomics.
Market Drivers & Restraints
Drivers
- Advancements in Genomic Research: The decreasing cost of sequencing technologies has made genomic research more accessible, leading to increased demand for bioinformatics services.
- Personalized Medicine: The shift towards personalized medicine requires comprehensive data analysis, which bioinformatics services provide, facilitating tailored treatment plans.
- Integration of AI and Machine Learning: The incorporation of AI and machine learning in bioinformatics enhances data analysis capabilities, leading to more accurate and efficient results.
Restraints
- Data Management Challenges: The vast amount of biological data generated poses challenges in storage, management, and analysis.
- Ethical and Legal Concerns: Handling sensitive genetic information raises ethical and legal issues related to data privacy and consent.
Market Report Coverage
The comprehensive report by Fortune Business Insights covers various aspects of the bioinformatics services market, including market size, growth trends, competitive landscape, and regional insights. It provides detailed analysis of different service types, applications, and end-users, offering valuable information for stakeholders.
Market Competitive Landscape
The market is characterized by the presence of several key players focusing on strategic initiatives such as mergers, acquisitions, partnerships, and product launches to strengthen their market position. For instance, in January 2020, Charles River Laboratories entered into a strategic partnership with Fios Genomics to gain access to expertise in bioinformatics, statistics, and biology.
Explore the full research report with detailed insights and TOC: https://www.fortunebusinessinsights.com/bioinformatics-services-market-109496
Market Segments
By Service Type
- Sequencing
- Gene Expression
- Data Analysis
- Drug Discovery
- Others
By Application
- Metabolomics
- Pharmacology
- Genomics
- Transcriptomics
- Others
By End-User
- Pharmaceutical & Biotechnology Companies
- CROs & Research Institutes
- Others
Market Regional Insights
North America: Dominated the market in 2024 with a share of 46.25%, attributed to the presence of major companies and well-established research infrastructure.
Europe: Held a notable market share, driven by clinical research funding and technological innovations in genomics and high-performance computing.
Asia Pacific: Projected to expand at the highest CAGR during the forecast period, due to increasing clinical trials and demand for sophisticated data analysis tools.
Future Market Scope
The bioinformatics services market is poised for continued growth, with opportunities arising from the integration of digital technologies, expansion into emerging markets, and the development of innovative bioinformatics solutions. Addressing data management challenges and ethical concerns will be crucial for sustained market expansion.
Frequently Asked Questions (FAQ’s)
- What is the market size of bioinformatics services market?
- What factors are driving bioinformatics services market growth in North America?
- Who are the major players in the bioinformatics services market?
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