The market for bioinformatics platforms is anticipated to increase as a result of key players focusing more on quickening the drug discovery and development process. Funds and resources from pharmaceutical corporations, nonprofit organisations, and healthcare institutions are increasingly being used in the process of finding and developing new drugs. The use of bioinformatics platforms by these firms to improve the efficiency of the drug discovery and development process is projected to fuel market expansion for these platforms. Grants are available to businesses and research organisations through a number of government funding programmes, including Horizon 2020 and Innovate UK. The innovation department of UK Research and Innovation is home to Innovate UK. The programme provided funding to Adorial Pharma Limited and C4X Discovery so they could create a cutting-edge mathematically based drug discovery system. Additionally, prominent market players are concentrating on implementing organic and inorganic growth methods to increase their market position. Data flood results from the steady increase in the amount of data that is available for analysis due to the advent of high-throughput bioinformatics platforms.
According to Coherent Market Insights, The estimated size of the global Bioinformatics Market is 12.73 billion in 2022 and is expected to grow at a 14.01% CAGR from 2023 to 2031 to reach 39.79 billion.
The biggest players, according to Coherent Market Insights, are mentioned below:
Market Players in the Bioinformatics Platforms Industry:
1. 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.
Prominent Companies in the Bioinformatics Platforms Industry:
2. 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.
3. Affymetrix, Inc.
The company was started in 1992 and is based in United States, California. For plant and animal genomes and transcriptomics, fundamental research, and practical application, the company provides goods, equipment, and resources. Affymetrix presently creates and offers innovative products that enable multiplex and parallel investigation of biological systems at the cell level.
4. Dassault Systemes
The firm was started in 1981 and is located in Vélizy-Villacoublay, France. The business creates software for manufacturing, simulation, and other 3D-related tasks as well as for product creation in 3D. Dassault Systèmes revealed intentions to launch Numspot in late 2022. Numspot would be a collaborative initiative to develop a European sovereign cloud service for the financial, healthcare, and public sectors that would rely on the 3DS Outscale architecture.
5. QIAGEN
The business was started in 1984 and is based in Hilden, Germany. Genetic testing, applied testing, academic, and pharmaceutical research are all areas in which QIAGEN offers sample and assay technology. The company revealed in January 2023 that it will pay $150 million to purchase Verogen. The acquisition of NeuMoDx Inc., situated in Michigan, was announced by QIAGEN in September 2020.
6. ID Business Solutions, Ltd.
The company was started in 1989 and is located in Woking, United Kingdom. Software for data analytics and management is offered by ID Business Solutions Ltd. The business focuses on enhancing research and development procedures for businesses in the manufacturing, pharmaceutical, cosmetic, food, and beverage, and aerospace sectors.
7. GenoLogics Life Sciences Software, Inc.
The firm was established in 2002 and is located in Victoria, Canada. Dedicated to developing lab information management software for genomics, next-gen sequencing, and mass spectrometry labs, GenoLogics is a life sciences software company.
*Definition: The use of computation and analysis tools to collect and understand biological data is known as bioinformatics. The handling of data in contemporary biology and medicine depends on bioinformatics.
