BIOINFORMATICS MARKET ANALYSIS

Bioinformatics MarketSize and Trends

The global bioinformatics market is estimated to be valued at US$ 22.1 Bn in 2023 and is expected to exhibit a CAGR of 21.0% during the forecast period (2023-2030).  

Figure 1. Global Bioinformatics Market Share (%), By Product Type, 2023

Figure 2. Global Bioinformatics Market Share (%), By Region, 2023

Market- Trends:

Among region, North America is estimated to hold a dominant position in the global bioinformatics market over the forecast period. North America is estimated to hold 35.9% of the market share in 2023. Its establishes a database from the information to develop and deliver high-value digital biology content for biotechnology, which are the primary factors driving the growth of the bioinformatics market. For instance, in April 2022, ATCC (American Type Culture Collection) a nonprofit, global biological resource center and standards organization and the leading developer and supplier of bioinformatics announced an agreement with QIAGEN is a provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research. to provide them with sequencing data from its collection of animal and human cell lines and biological materials. Qiagen is expected to establish a database from the information to develop and deliver high-value digital biology content for the biotechnology and pharmaceutical industries, enabling the use of authenticated biological data sets to uncover new disease pathways and discover novel therapeutic targets. Such developments in the North America are adding to the growth of the studied market.