Bioinformatics Market - Size, Share, Industry Trends, and Forecasts (2024 - 2031)

By Component :

Based on component, the market is bifurcated into bioinformatics platforms, bioinformatics services, and bioinformatics tools & software.

Trends in the Component:

• Development of specialized platforms tailored for specific applications such as drug discovery, clinical diagnostics, and precision medicine.
• The shift towards cloud-based tools is the trend supporting the segment expansion.

The bioinformatics platforms segment accounted for the largest market share of 39.74% in 2023.

Bioinformatics platforms serve as comprehensive ecosystems that integrate various tools, databases, and analytics capabilities into unified solutions for biological data analysis and interpretation.

• Modern platforms are distinguished by their ability to handle multi-omics data integration, offering seamless evaluation across genomics, proteomics, transcriptomics, and metabolomics data sets.
• Advanced platforms incorporate large analytics capabilities powered by artificial intelligence and machine learning. This enables sophisticated pattern recognition, predictive modeling, and automated hypothesis generation.
• These platforms are increasingly adopting cloud-native architectures offering scalability, flexibility, and collaboration capabilities that are essential for large-scale research projects.
• For instance, in March 2022, ARUP Laboratories announced the launch of Rio, a new world-class bioinformatics pipeline and analytics platform. Rio amplifies ARUP's existing cloud computing capabilities to move data more efficiently and with greater accuracy to speed targeted test results to clinicians for evaluation and improved medical decision-making for patients.
• Thus, bioinformatics platforms have become indispensable tools in modern biological research.

Bioinformatics tools & software is expected to grow at the fastest CAGR over the forecast period.

The bioinformatics tools & software represent a critical component that encompasses a diverse range of solutions designed to analyze, interpret, and manage biological data in genomics, proteomics, and metabolomics research.

• Sequence analysis tools possess widespread adoption in genome sequencing in both research and clinical settings. These tools facilitate crucial functions such as genome assembly, annotation, alignment, and variant calling. Notably, tools like BLAST, Bowtie, and BWA are some of the prominent tools utilized for sequence alignment.
• Increasing research on protein structure prediction, protein-protein interaction, and metabolic pathway analysis is creating a demand for tools and software like Swiss-Prot, ExPASy, and PDB among others.
• The segment contribution is further accelerated by the integration of artificial intelligence and machine learning capabilities which enhance the accuracy and speed of evaluation while reducing computational requirements. Additionally, the shift towards cloud-based and web-based tools is significantly contributing to the segment trend.

By Application:

Based on application, the market is categorized into genomics, proteomics, metabolomics, pharmacology, and others.

Trends in the Application:

• The increasing adoption of next-generation sequencing technologies is driving the need for advanced genomic analysis tools.
• The growing need for understanding metabolic pathways and biomarkers fuels metabolomics research.
• Adoption of AI and ML to analyze complex biological data, predict protein structures, and identify drug targets.

The genomics segment accounted for the largest market share in the year 2023.

• Genomics is the study of the complete set of genes of organisms, of the way genes work, and interact with each other and with the environment.
• Bioinformatics tools and software such as BLAST (Basic Local Alignment Search Tool), Clustal Omega, and GATK (Genome Analysis Toolkit) are used for sequence alignment and variant calling in next-generation sequencing data.
• Additionally, BWA (Burrows-Wheeler Alignment) is employed for mapping reads to a reference genome, whereas SAMtools is used for manipulating alignment data. Collectively these tools & software are widely utilized to store, retrieve, and analyze vast amounts of genetic data.
• Key applications of these tools & software and platforms in genomics include genome sequencing and assembly, gene prediction and annotation, comparative genomics, population genetics, transcriptomics, epigenetics, and metagenomics.
• Additionally, advancements in tools, software, and platforms for the application of genomics fuel the segment rise in the bioinformatics market size.
• For instance, in November 2022, Arima Genomics partnered with Basepair to accelerate bioinformatics analysis of 3D genomics data. This collaboration simplifies data evaluation by providing a user-friendly interface, reducing computational requirements, and generating easy-to-interpret reports. The partnership aims to streamline the process of identifying structural variants from 3D genomic data, supporting researchers to gain deeper insights into genome structure and function.
• Thus, bioinformatics is significantly boosting genomics research, enabling scientists to understand genetic diseases and evolution.

The drug discovery and development segment is expected to grow at the fastest CAGR over the forecast period.

• Adoption of bioinformatics provides an understanding of the underlying biology of diseases, identifies promising drug targets, designs effective drugs, and optimizes clinical trials in the overall drug discovery and development.
• By leveraging genome-wide association studies, proteomics, and transcriptomics, it enables the identification of genetic variations and molecular targets associated with diseases, facilitating the development of targeted therapies.
• Additionally, structure-based drug design, virtual screening, and pharmacokinetic & pharmacodynamic evaluation enable the identification and optimization of potential drug candidates. By integrating computational tools and biological data, it accelerates drug discovery, enhances drug efficacy, and minimizes side effects.
• Overall, bioinformatics supports drug discovery and development by accelerating the identification and development of effective therapies.

By End-User:

Based on end user, the market is categorized into research institutions, pharmaceutical & biotechnology companies, healthcare organizations, and others.

Trends in the End Use :

• Rising government funding for scientific research and the need for data-driven insights.
• Growing requirement for personalized medicine and the need for efficient drug development.

The pharmaceutical & biotechnology companies segment accounted for the largest market share in the year 2023 and is also expected to grow at the fastest CAGR over the forecast period.

• Bioinformatics has become an indispensable tool for pharmaceutical and biotechnology companies. It is employed at various stages of drug discovery and development, from identifying potential drug targets to optimizing clinical trials.
• By analyzing vast datasets, these tools & software, and platforms help identify specific genes, proteins, or pathways involved in diseases. Additionally, computational methods such as molecular docking, virtual screening, and QSAR modeling (quantitative structure-activity relationship) enable the design and optimization of drug molecules. This supports pharmaceutical and biotechnology companies in identifying drug targets associated with several diseases.
• Moreover, it aids in predicting drug pharmacokinetics and pharmacodynamics, optimizing drug dosing, and minimizing adverse effects further supporting pharmaceutical and biotechnology companies in drug development. In clinical trials, these tools & software, and platforms enable patient stratification, and biomarker discovery, leading to more targeted therapies and improved patient outcomes.
• Rising R&D costs, continuous research requirements, complex computational needs, and complex drug development are driving the adoption of bioinformatics in the pharmaceutical and biotechnology industries.
• For instance, in April 2023, Agilent Technologies Inc. announced the signing of a Memorandum of Understanding (MOU) with Theragen Bio in South Korea to boost precision oncology through advancing bioinformatics solutions. As part of the partnership agreement, Agilent and Theragen Bio will combine their respective strengths in cancer genomic profiling design, engineering knowledge, and software expertise to drive localized evaluation capabilities and accelerate treatment decisions.
• Thus, bioinformatics has become an indispensable tool for pharmaceutical and biotechnology companies, enhancing drug discovery and development.