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Bioinformatics Market 2028: Growth Opportunities, Segmentation, Competitive Landscape and Regional Analysis

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In a recent research report by Market Research Community, the Bioinformatics Market is expected to surpass USD 26.84 Billion by the year 2028, from USD 11.90 Billion in 2021.

Bioinformatics Market overview:

In a recent research report by Market Research Community, the Bioinformatics Market is expected to surpass USD 26.84 Billion by the year 2028, from USD 11.90 Billion in 2021.

The report includes a regional analysis and country Bioinformatics Market analysis with the latest trends, along with the major key players including Thermo Fisher Scientific, Inc., Source BioScience, Eurofins Scientific, QIAGEN N.V., Agilent Technologies, Inc, Illumina, Inc., Waters Corporation, SOPHiA Genetics, DNASTAR, NeoGenomics Laboratories, Perkin Elmer, Inc., DNASTAR, NeoGenomics Laboratories, GENEWIZ  and BGI Group, Fios Genomics, Partek Incorporated, and Biomax Informatics AG among others.

The use of computer technology to understand and utilize biological and biomedical data effectively is known as bioinformatics. It is the field responsible for storing, analyzing, and interpreting the Big Data gathered during clinical settings or as a result of life science investigations. Experts from a range of disciplines, including biologists, computer scientists, mathematicians, statisticians, and physicists, are driving this multidisciplinary field.

The Bioinformatics market is projected to grow at a significant pace reaching a CAGR of approximately 10.7%, over the forecast period of 2022–2028, despite a considerable fall in Service Operator sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.

The North American Bioinformatics market is driven by increased government initiatives for the reimbursement of genomic testing and favorable funding scenario for research activities involving the use of bioinformatics technologies. Further, advanced medical facilities and high investment in Research and Development are estimated to boost the growth of the market.

The area fragment is partitioned into clinical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, forensic biotechnology, and other sectors. The clinical biotechnology portion is assessed to lead the bioinformatics market. Medical biotechnology is an important pillar in the global pharmaceutical industry to bring innovative treatments to the market. A surge in the development of effective vaccines, drugs, and diagnostic tools for the treatment of various diseases is estimated to boost the growth of the market.

 

The study is consolidated into major segments and further into sub-segments, such as by Product Service (Knowledge Management Tools, Bioinformatics Platforms, Bioinformatics Services), Applications (Genomics, Chemoinformatics Drug Design, Proteomics, Transcriptomics, Metabolomics, Other Applications), Sector (Medical Biotechnology, Animal Biotechnology, Plant Biotechnology, Environmental Biotechnology, Forensic Biotechnology, Other Sectors) to Market forecast the size by value; also includes the analysis of past dynamics from 2016 – 2021, considering 2021 as the base year.     

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