(EMAILWIRE.COM, December 29, 2018 ) The global bioinformatics services market is expected to reach USD 3.53 Billion by 2023 from USD 1.70 Billion in 2018, at a CAGR of 15.7% during the forecast period. Factors such as increasing public-private sector funding for bioinformatics services, the shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects, and growing applications of bioinformatics in various industries are expected to drive the growth of the global market.
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Global bioinformatics services market through its broad product portfolio, strong geographical presence, and wide customer base across the globe. Thermo Fisher Scientific (US) held the second leadership position in the global market. Other prominent players in the global bioinformatics services market included Eurofins Scientific (Luxembourg), BGI (China), NeoGenomics (US), PerkinElmer (US), CD Genomics (US), Macrogen (South Korea), QIAGEN (Germany), GENEWIZ (US), Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios Genomics (UK), and BaseClear (Netherlands), among others.
Bioinformatics services market is divided into sequencing services, data analysis services, drug discovery services, differential gene expression analysis, database management services, & other services sequencing services segment further classified into whole genome sequencing & de novo assembly, exome analysis, transcriptome analysis, metagenomic analysis, ChIP-Seq analysis, & other sequencing analysis, whereas data analysis services segment is classified into data mining, genomic analysis, proteomic analysis, and variant annotation and discovery.
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The bioinformatics services market is segmented into academic institutes and research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and other end users. Among these, the academic institutes and research centers segment is expected to account for largest share of global market in 2018, owing it to rising number of bioinformatics-based research studies, rising number of collaborations between academic research institutes & players in bioinformatics market, & growing number of government funding programs for genomics research.
Report covers the bioinformatics services market data across four major geographies, namely, North America, Europe, Asia Pacific, & Rest of the World (RoW). North America accounted for the largest share of global market in 2017, followed by Europe. Large share of North American region is mainly attributed to the presence of leading bioinformatics service providers in region, decreasing cost of sequencing, increasing number of genomic research activities in region, high incidence of target diseases (such as cancer and genetic diseases), and favorable funding scenario for bioinformatics-based research.
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Bioinformatics services market is divided into sequencing services, data analysis services, drug discovery services, differential gene expression analysis, database management services, & other services sequencing services segment further classified into whole genome sequencing & de novo assembly, exome analysis, transcriptome analysis, metagenomic analysis, ChIP-Seq analysis.
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1 Bioinformatics Services: Market Overview
2 Bioinformatics Services Market, By Type (2018 vs 2023)
3 Global Market, By Application (2018 vs 2023)
4 Global Market, By Specialty (2018 vs 2023)
5 Global Market, By Region and End User, 2018 vs 2023 (USD Million)
The report also studies micro markets with respect to their growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
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