Over the course of the projection period, the worldwide bioinformatics market is anticipated to grow at a rate significantly higher than that of the pharmaceutical industry. For instance, the pharmaceutical industry in Europe was estimated to be worth US$ 139, 287 million in 2000 and US$ 284, 028 million (approx.) in 2018, according to The European Federation of Pharmaceutical Industries and Associations' Key Data 2019. Additionally, a number of benefits of bioinformatics are anticipated to support market expansion. Bioinformatics has many benefits, including easy and precise biological data verification, large-scale data storage, and easy access. Over the course of the projected period, rising investment in the pharmaceutical industry is anticipated to fuel market expansion for bioinformatics. The worldwide bioinformatics market is anticipated to grow faster than average due to the high frequency of chronic diseases. For instance, according to the American Cancer Society, the US will have 1,762,450 new cases of cancer and 606,880 cancer deaths in 2019.. Additionally, it is anticipated that rising medication development will support the expansion of the worldwide bioinformatics market.
According to Coherent Market Insights, The market for Bioinformatics was valued at US$ 10,391.4 Mn in 2019 and is anticipated to grow at a CAGR of 20.5% from 2020 to 2027 to reach US$ 46,261.2 Mn.
Major Players in the Bioinformatics Industry:
1. Active Motif, Inc.
The company was started in 1999 and has its main office in Tegernheim, Bayern, Germany. The biotechnology company Active Motif, Inc. serves the global medical industry by creating cell and molecular biology-based research tools that aid in understanding the roles, connections, and control of proteins.
2. Agilent Technologies Inc.
The business was founded in 1999 and is located in Santa Clara, California, United States. Agilent Technologies, Inc. offers fundamental electronic measurement and bio-analytical solutions to the chemical analysis, communications, electronics, and life sciences industries. Agilent unveiled a new ICP-MS device in December 2020. Agilent announced a partnership with Société Générale de Surveillance (SGS) in November 2020, and as a result, a new GC/TQ method.
3. Bio-Rad Laboratories Inc.
The firm was founded in 1952 and is based in California, United States. The business produces and sells analytical instruments, clinical diagnostics, and equipment for use in life science research. Products and systems from Bio-Rad Laboratories are used to separate complicated chemical and biological materials as well as to recognise, examine, and purify their constituent parts. In March 2021, Bio-Rad and Roche announced a partnership.
4. Illumina, Inc.
The company was started in 1998 and is based in San Diego, California, United States. Illumina, Inc. creates, produces, and sells integrated systems for analysing genetic variation and biological function on a massive scale. Illumina introduced NovaSeq X and NovaSeq X Plus in September 2022, lowering the price of a whole human genome sequencing to $200, according to the firm.
5. Life Technologies
The company was founded in 2008 and is based in Carlsbad, California, United States. Equipment for biological sciences is provided by biological Technologies Corporation. Life Technologies Company is a multinational biotechnology business that strives to offer the most cutting-edge goods and services.
6. Affymetrix, Inc.
The company was started in 1992 and is based in Santa Clara, California, United States. For basic research, industrial application, and plant and animal genomics and transcriptomics, the company provides goods, equipment, and resources. Affymetrix now develops and provides state-of-the-art technologies that enable multiplex and parallel investigation of biological systems at the cell level.
7. Intomics
The company was founded in 2008 and is located in Denmark. A biotech business is Intomics A/S. By enabling extensive analysis of biomedical data, the company expedites and optimises the creation of pharmaceutical drugs. Both Denmark and the US have industries related to economics.
Definition: The combination of biology and information technology is referred to as bioinformatics. Bioinformatics use computer software tools for database building, maintenance, and creation. Additionally, it is utilised in data mining, communication networking, and data warehousing.
