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Bioinformatics Market Size to Hit Around US$ 45.6 Bn by 2030

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Ottawa, May 16, 2022 (GLOBE NEWSWIRE) — The global bioinformatics market size was valued at US$ 13.2 billion in 2021. Bioinformatics is a field that combines biology and information technology. Bioinformatics employs a variety of tools and technologies, including data management, data production, data warehousing, and data mining. The pharmaceutical industry’s expansion is fueling the growth of the bioinformatics market. According to the European Federation of Pharmaceutical Industries and Associations’ 2019 data, the pharmaceutical sector in Europe was worth $139,287 million in 2000 and $284,028 million in 2018.

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Furthermore, the industry is growing due to the numerous benefits provided by bioinformatics. Growing investments in the biology and information technology industries are another element driving the global bioinformatics industry forward. Furthermore, governments all around the world are working hard to develop the global bioinformatics business.

Report Highlights

  • On the basis of product, bioinformatics services segment holds the largest market share in the global bioinformatics market. The factors such as increased research and development activities as well as an increase in demand for new pharmaceuticals are helping the bioinformatics services segment expansion. In addition, technical improvements are resulting in an increase in global demand for bioinformatics services.
  • On the basis of application, genomic segment holds the largest market share in the global bioinformatics market. Due to the use of new and creative technologies, the demand for bioinformatics is increasing in genomics. In pharmacogenomics, bioinformatics is utilized to handle and manage enormous amounts of information and data in databases. In the medication development process, sequencing technology is routinely used. This has a direct effect on the segment growth.

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Regional Snapshot

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North America is the largest segment for bioinformatics market in terms of region. The U.S. is dominating the bioinformatics market in the North America region. Due to favorable government rules in favor of market players, the bioinformatics market in North America is developing. The existence of large industry participants is also credited with the rise of the North American bioinformatics market. The US government is investing in the development of the bioinformatics business. In addition, increasing research and development efforts are paving the way for the region’s bioinformatics industry to grow.

Europe region is the fastest growing region in the bioinformatics market. The UK and Germany hold the highest market share in the Europe bioinformatics market. The bioinformatics market in Europe is rising due to increased investments in the healthcare sector. Furthermore, the introduction of cutting-edge technologies like artificial intelligence and the internet of things is boosting the bioinformatics business in Europe. Partnerships and acquisitions are common strategies used by industry players in the European bioinformatics business.

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 13.2 Billion
Revenue Forecast By 2030 USD 45.6 Billion
CAGR 16.3% from 2022 to 2030
Base Year 2021
Forecast Data 2022 to 2030
Companies Covered Thermo Fisher Scientific Inc., Eurofins Scientific, QIAGEN N.V., Agilent Technologies Inc., Illumina Inc., Waters Corporation, NeoGenomics Laboratories, Perkin Elmer Inc., Fios Genomics, and Source BioScience

Market Dynamics

Drivers

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Growing research and development activities

The government bodies and major market players of developing and developed nations are highly investing in information technology projects. In addition, market players are also conducting research and development activities for launch of new products in the market. Thus, growing research and development activities are driving the expansion of global bioinformatics market over the forecast period.

Restraints

Growing concerns regarding data privacy and security

The technological developments and adoption of latest and advanced technologies is paving way for the expansion of global bioinformatics market. The market players are largely adopting next generation sequencing technology in bioinformatics market. This technology helps to generate and maintain large amount of patients’ data in the database. Here, data plays crucial role for the growth of bioinformatics market. As a result, growing concerns regarding data privacy and security is restricting the growth of global bioinformatics market.

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Opportunities

Growing funding from public and private sector

Several organizations and government agencies are collaborating with each other for the development of global bioinformatics market. These firms are also heavily investing in advanced and latest technologies. The British Heart Foundation, the Biotechnology and Biological Sciences Research Council, the European Commission, and Cancer Research UK all contributed to the European Molecular Biology Laboratory, an international body and trendsetter in bioinformatics research in 2016. Thus, growing funding from public and private sector are contributing towards the growth of global bioinformatics market over the projected period.

Challenges

High costs of bioinformatics tools and equipment

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The cost of bioinformatics devices and tools are quite expensive due to growing adoption of innovative and latest technologies such as next generation sequencing. The genomics tools used in bioinformatics are also costly due to their advanced features. It costs around $10 to $20 million. Thus, manufacturing of bioinformatics tools requires high capital investment. As a result, high costs of bioinformatics tools and equipment are a challenge for the bioinformatics market growth.

Related Reports

Recent Developments

  • Agilent Technology Inc. announced SureSelect for human exome analysis in March 2021.
  • Charles River Laboratories Inc. formed collaboration with Fios Genomics in January 2020 to obtain access to Fios Genomics’ expertise in bioinformatics and biology.
  • Illumina announced the Pan-Cancer IVD Test, cloud-based bioinformatics platform in January 2021.
  • Eurofins Genomics increased its range of sequencing and synthetic genes in August 2019 when it purchased Blue Heron Biotech, a firm specializing in sophisticated gene synthesis.

Market Segmentation

By Product

  • Bioinformatics Platforms
    • Sequence Analysis Platform
    • Sequence Alignment Platform
    • Sequence Manipulation Platform
    • Structural and Functional Analysis Platform
    • Other
  • Bioinformatics Services
    • Sequencing Services
    • Database and Management Services
    • Data Analysis
    • Other
  • Knowledge Management Tools
    • Generalized Knowledge Management Tools
    • Specialized Knowledge Management Tools
  • Biocontent

By Application

  • Genomics
  • Molecular Phylogenetics
  • Metabolomics
  • Proteomics
  • Transcriptions
  • Chemoinformatics and Drug Designing
  • Others

By Sector

  • Medical Biotechnology
  • Animal Biotechnology
  • Plant Biotechnology
  • Environmental Biotechnology
  • Forensic Biotechnology
  • Other Sectors

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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Artificial Intelligence

Xinhua Silk Road: E China’s Changzhou City unveils investment opportunities in sectors of new productive forces for global investors

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Changzhou City, an leading international smart manufacturing base located in east China’s Jiangsu Province, has released a bunch of investment investment opportunities to global investors in various sectors of new productive forces at the the 2024 New Energy Industry Development Conference & Invest in Changzhou Conference held in the city on September 19.

The investment opportunities covers nine areas including synthetic biology, low-altitude economy, intelligent connected new energy vehicles, solid-state batteries, hydrogen energy, third-generation semiconductors, and artificial intelligence, manifesting the confidence of Changzhou in further opening development. 
Changzhou, seated in the axis of the Yangtze River Delta, has become an important base for advanced manufacturing in China.
In recent years, thanks to intensified efforts in developing new energy industry and fostering new quality productive forces, Changzhou has expanded the added value of its industrial sector to more than two trillion yuan, with manufacturing added value accounting for about 43 percent, both ranking among the top three in Jiangsu Province.
In the Hurun China New Energy Cities 2024, a list released by the Hurun Research Institute at the conference, Changzhou ranked first among other cities in the country for three consecutive years in terms of investment attractiveness and concentration.
Changzhou has accumulated a total of 10.59 billion US dollars (nearly 74.25 billion yuan) in terms of actually utilized foreign capital since 2020. Major projects such as soft magnetism of ArcelorMittal and medical device of BIOS, a Hong Kong-based company, have been launched during the conference. 
In addition, Changzhou has released a multilingual guide for foreign nationals in Changzhou at the conference, which includes practical service items in stay and residence, work, convenient payment options, among others, turning the city into a more open and international place.
Original link: https://en.imsilkroad.com/p/342380.html
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Artificial Intelligence

CGTN: China honors individuals with highest awards in celebration of 75th National Day

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BEIJING, Sept. 29, 2024 /PRNewswire/ — Huang Zongde enlisted in the Chinese People’s Liberation Army at the age of 17, beginning a nearly four-decade-long military career where his bravery, valor and devotion earned him countless awards and honors.

The heavily decorated 93-year-old received the highest state honor on Sunday when Chinese President Xi Jinping conferred him with the Medal of the Republic at a ceremony in the Great Hall of the People in Beijing.
China awarded national medals and national honorary titles to 15 individuals, including Huang, in recognition of their contribution and achievement as it celebrates the 75th anniversary of the founding of the People’s Republic of China, which falls on October 1.
Chinese heroes and role models
In addition to Huang, three others were awarded the Medal of the Republic. Wang Yongzhi, a missile and rocket expert and a pioneer of China’s manned space program, was honored posthumously. Wang Zhenyi, a medical scientist known for breakthroughs in leukemia treatment, and Li Zhensheng, an expert in wheat breeding, are also among the honorees.
The national honorary titles went to 10 people, including scientists, a border patrolman, an artist, a craftsman, educators, a health worker, an economist and an athlete.
Addressing Sunday’s awarding ceremony, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, called on the Chinese people to learn from heroes and role models to form a mighty force to build a strong China.
China is in a crucial period for building a great modern socialist country in all respects and achieving national rejuvenation through Chinese modernization, he said.
Encouraging the Chinese people to strive for extraordinary achievements at ordinary job posts, Xi urged them to contribute to resolving challenges to development and reform and safeguarding social harmony and stability.
China’s old friends and good friends
As its highest state honor for foreigners, China awarded the Friendship Medal to Dilma Rousseff, president of the New Development Bank and former Brazilian president, for her commitment to the friendship between China and Brazil, and development of relationship between China and the Community of Latin American and Caribbean States, and cooperation among BRICS countries, a group of major emerging economies.
Accepting the honor at the ceremony, Rousseff said the medal symbolizes the strong bonds between Brazil and China and pledged to continue her unremitting efforts to promote the friendship.
China’s achievements over the decades, including economic transformation, technological innovation and remarkable social development, have made it a beacon and a source of inspiration for the world, she said.
Xi lauded Rousseff as an outstanding representative of China’s old friends and good friends who have shared the same aspirations and stood together with the Chinese people over the past 75 years and vowed that China will never forget such international friends.
The Chinese people are ready to join hands with people from all over the world to safeguard world peace, promote common development and advance the building of a community with a shared future for mankind to create a better future for humanity, he said.
https://news.cgtn.com/news/2024-09-29/China-honors-individuals-with-highest-awards-ahead-of-National-Day-1xhS1SaZeZa/p.html
 

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Kazakhstan Government Delegation Visited SUPCON

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HANGZHOU, China, Sept. 29, 2024 /PRNewswire/ — On September 26, a delegation from the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, led by Minister Madiyev Zhaslan, visited SUPCON. SUPCON’s Chairman and President, Mr.Cui Shan, warmly welcomed the delegation.

The Kazakhstan government representatives expressed their appreciation and recognition of SUPCON’s expertise and innovation in intelligent manufacturing, digital transformation, and industrial AI.
Madiyev Zhaslan expressed a strong interest in industrial AI technologies of SUPCON, particularly their applications in intelligent and low-carbon facilities. He looks forward to exploring extensive collaboration with SUPCON across various sectors in Kazakhstan.
Cui Shan emphasized that as a leading industrial AI company with a global presence, SUPCON will leverage its technological advantages to meet Kazakhstan’s industry development requirements and trends, injecting new momentum into the country’s industrial digitalization.
In 2023, SUPCON established a subsidiary in Kazakhstan as its Central Asia regional headquarters and set up a localized operational system. SUPCON will continue to invest in the long-term development of the Central Asia region, contributing further wisdom and strength to the industrial digital transformation in Kazakhstan and beyond.
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