Global Digital Bioinformatics Market Research Report Segmented By Product and Services Type (Products, Services); Application (Preventive Medicine, Molecular Medicine, Genomics, Drug Development, Transcriptomics, Others); End-User (Medical Biotechnology, Academics, Animal Biotechnology, Agricultural Biotechnology, Environmental Biotechnology, Forensic Biotechnology); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Global Digital Bioinformatics Market Size (2024 – 2030)

The Global Digital Bioinformatics Market, valued at USD 7.762 billion in 2023, is anticipated to attain a market size of USD 20.65 billion by 2030, with a projected Compound Annual Growth Rate (CAGR) of 15% during the forecast period of 2024-2030.

Industry Overview

Bioinformatics, merging biology with information technology, integrates biological data with tools for storage, dissemination, and analysis, serving various scientific fields, including biomedicine. It offers software and tools encompassing algorithms and statistical methodologies for data analysis, aiding in data management and analysis for applications such as next-generation sequencing, genomic and proteomic structuring, and three-dimensional drug design. The market offers various bioinformatics tools including homology and similarity tools, protein functional and analytical tools, sequence analysis tools, and miscellaneous tools. Increased R&D activities in proteomics, genomics, and related '–omics' domains are anticipated to fuel market growth to meet rising demands.

Market Drivers

A surge in private and public sector funding for bioinformatics innovations is poised to propel market growth.

Governments and corporate entities globally are increasingly investing in bioinformatics, leading to advancements in data and technology, thereby enhancing the quality of bioinformatics services. For instance, notable funding was received by the European Molecular Biology Laboratory (EMBL), facilitating advancements in bioinformatics services.

Emerging markets such as India, China, Brazil, Russia, Taiwan, and South Korea offer lucrative prospects, driving consumer demand for the digital bioinformatics market.

These markets exhibit significant growth potential for major bioinformatics companies, particularly in genomics, metabolomics, precision medicine, drug discovery, and other related industries. Additionally, regulatory policies in the Asia Pacific region are more adaptable and business-friendly, prompting manufacturers to focus on emerging markets.

Market Restraints

High equipment costs pose a challenge for the digital bioinformatics market. The introduction of powerful Next-Generation Sequencing (NGS) technologies has increased the demand for user-friendly bioinformatics tools, yet many applications still require extensive computer skills. Moreover, genomics instruments are expensive, ranging from USD 10–20 million, making it financially challenging for small and medium-sized pharmaceutical businesses and research facilities to afford them.

Concerns regarding patient data privacy hamper the digital bioinformatics market. The rapid advancements in NGS technology have generated vast biological data, requiring effective data analysis. However, existing methods inadequately address bioinformatics data management issues, raising concerns about the privacy and security of patients' data.

Global Digital Bioinformatics Market Segmentation

Global Digital Bioinformatics Market - By Product and Services Type

By Products

Sequencing Platforms

Knowledge Management Tools

Bioinformatics Software

Services

Data Analysis

Sequencing

Database Integration

Others

The digital bioinformatics market categorizes its products into sequencing platforms, knowledge management tools, and bioinformatics software. Under knowledge management tools, there are two types: generalized and specialized. In terms of services, the market includes data analysis, sequencing, database integration, and other services.

Global Digital Bioinformatics Market - By Application

Preventive Medicine

Molecular Medicine

Genomics

Drug Development

Transcriptomics

Others

Applications of bioinformatics encompass preventive medicine, molecular medicine, genomics, drug development, transcriptomics, and other fields. Transcriptomics is anticipated to witness the fastest growth due to increased demand for companion diagnostics and tailored therapeutics. In 2023, the molecular medicine sector held the largest market share, with the drug development segment projected to grow most rapidly from 2024 to 2030.

Global Digital Bioinformatics Market - By End-User

Medical Biotechnology

Academics

Animal Biotechnology

Agricultural Biotechnology

Environmental Biotechnology

Forensic Biotechnology

End-users in the bioinformatics sector include medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, and forensic biotechnology. Medical biotechnology is expected to be the largest end-user for the digital bioinformatics industry.

Global Digital Bioinformatics Market - By Geography & Region

North America

Europe

Asia-Pacific

Latin America

The Middle East and Africa

The global digital bioinformatics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe dominated the market in 2023, driven by sophisticated technology availability, well-structured regulatory environments, high rates of new technology adoption, and significant investment in research and development. The Asia Pacific region shows promise, with government initiatives to enhance biotechnology research, increased funding, rising bioinformatics knowledge, and improved literacy rates expected to drive market growth.

Global Digital Bioinformatics Market- By Companies

• Thermo Fisher Scientific
• Illumina
• Agilent Technologies
• QIAGEN
• BGI
• Wuxi Next code
• Eurofins Scientific
• Waters Corporation
• Sophia Genetics
• Partek