Artificial Intelligence
Bioinformatics Market Size Worth USD 26.8 Billion by 2030 at 14.50% CAGR – Report by Market Research Future (MRFR)
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New York, USA, March 09, 2023 (GLOBE NEWSWIRE) — Bioinformatics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Bioinformatics Market Information by Technology And Services, Application and Region – Forecast till 2030“, the Market Size was valued at USD 10.4 billion in 2022 and is projected to grow from USD 11.9 Billion in 2023 to USD 26.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.50% during the forecast period (2023 – 2030).
Bioinformatics Market Dynamics
The bioinformatics market is expanding as a result of rising demand for protein sequencing. The process of identifying the amino acid sequence in all or a portion of the proteins included in DNA, from which specific functions, activities, origin, or localization of the protein are identified, is known as protein sequencing. A subfield of computer science called bioinformatics investigates the functions of genes and proteins, identifies evolutionary relationships, and forecasts the three-dimensional structures of proteins. An extraordinary amount of biological data has been produced by the human genome project and other sequencing endeavors. The growing need for data analysis and interpretation must be met, and bioinformatics, a dynamic field of study, is in charge of doing so. The use of computing and analysis tools to collect and understand biological data is known as bioinformatics. This field of study combines biology, mathematics, and computer science. Data management is a function of bioinformatics in contemporary biology and medicine. A computational discipline called bioinformatics examines biological molecule sequences.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 26.8 Billion |
| CAGR | 14.50% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application, Technology and Services |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising demand for integrated data, nucleic acid and protein sequencing |
| The increasing use of target-based medication development by pharmaceutical and biotechnology companies, improvements in clinical mass spectrometry and analytical methods |
The demand for integrated data, increased demand for nucleic acid and protein sequencing due to declining sequencing costs, and increased demand for proteomics and genomics applications are all contributing to the anticipated significant growth of the global bioinformatics market in the years to come. Moreover, market expansion is anticipated to be fueled by government and private sector initiatives, medicinal research and development, and other factors. Nevertheless, a lower-rate scarcity of skilled workers, common data formats, and user-friendly technologies is anticipated to hinder the market over the forecast period.
Due to less onerous regulations and data requirements, regulatory policies in the Asia Pacific region are also more flexible and business friendly. Manufacturers will be obliged to increase their attention to emerging markets as competition in existing areas heats up. On the other hand, it is anticipated that growing market opportunities for bioinformatics solution developers will result from increased demand for integrated solutions and systems, integration of artificial intelligence and machine learning in healthcare, and increased investment by software companies in the development of bioinformatics solutions.
The capacity to store biological data is quite high for the next-generation sequencing methods. It has the capacity to produce a lot of data. A major hurdle for bioinformatics technology is the adoption of NGS and other alternatives. The use of bioinformatics raises serious privacy problems.
On the other side, NGS technologies offer data analysis and medication security. The technique of bioinformatics is seriously threatened. Poor data management is a difficult issue that might slow the market’s rate of expansion.
Covid 19 Impact
The use of bioinformatics technology greatly aids scientific study. The bioinformatics market is being put to the test by the Covid 19 epidemic. The study of the virus is extensive during COVID 19. The virus is the subject of extensive study to inhibit its spread. Bioinformatics technology makes it possible to create the future generation. The medical sector can get information on the virus and its spread thanks to technology.
The knowledge of SARS-CoV and bioinformatics has allowed for the comprehensive knowledge of the virus. Throughout the projection period, bioinformatics outsourcing is progressing quickly. The use of bioinformatics technologies by scientists to gather knowledge about covid is extraordinary. As a result, bioinformatics use is increasing at this time.
A number of academic institutions use bioinformatics technology. A rising market trend is evident from the market’s overall covid 19 analysis.
Browse In-depth Market Research Report (80 Pages) on Bioinformatics: https://www.marketresearchfuture.com/reports/bioinformatics-market-2265
Market Trends
The projection period sees no change in the market trends for bioinformatics. There are just a few things that keep the market growing. The bioinformatics market is seeing remarkable demand due to rising investments. The market is supported by the government, which creates chances for rapid expansion throughout the projection period.
More innovation will be brought to the market as a result of market research and development. The market is constrained by scientists’ lack of technical expertise. Another obstacle in the market is the growing demand for NGS technology. The market’s overall growth may be impacted by several elements.
Competitive Analysis
Throughout the anticipated term, there will be more rivalry in the bioinformatics industry. The three main competing tactics are market growth, acquisition, and collaboration. Many new market expansion prospects will result from the application of AI and bioinformatics. The major market participants are paying closer attention to AI technology. It will increase the effectiveness of bioinformatics technologies.
Key Players:
- QIAGEN N. V.
- Agilent Technologies
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Dassault Systèmes
- QIAGEN
Segmentation
By Application, the market has been divided into Genomics, Chemoinformatics, Drug Design, Transcriptomics, Molecular Phylogenetics, Proteomics and Metabolomics.
By Technology And Services the market is segmented into Data Warehousing, Sequence Analysis and Sequence Manipulation
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Regional Analysis
North America, Europe, and Asia Pacific make up the bioinformatics market. The bioinformatics market is still dominated by North America relative to other regional competitors. The market will see extraordinary demand with increased awareness and easy implementation.
Government assistance will improve the bioinformatics market as a whole. Furthermore, North America has many highly qualified people that can manage this technology. Another area with the fastest pace of development for the bioinformatics industry is Asia Pacific.
The expansion of pharmaceutical firms is giving bioinformatics a successful foundation. In this area, there is a critical requirement to store and analyze large amounts of biotechnological data. It is an area that will have the fastest pace of expansion. Bioinformatics is highly necessary.
Increased technological knowledge may lead to positive market shifts. Also, Europe will be making significant expenditures in the healthcare sector during the projection period. In Europe, IoT adoption is quite high. In the predicted term, it will result in a more modest demand for bioinformatics.
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Pharmacogenomics Market Information By Technology (Microarray, Sequencing, and Polymerase Chain Reaction), By Application (Oncology, Cardiology, and Neurological Disorders), By End User (Hospitals, Research Organizations and Academic Institutes), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
Download a detailed overview:
https://www.skyquestt.com/report/robotics-market
Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
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Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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