Artificial Intelligence
Bioinformatics Services Global Market Report 2023
New York, June 14, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Bioinformatics Services Global Market Report 2023” – https://www.reportlinker.com/p06466604/?utm_source=GNW
, CD Genomics, MedGenome Labs, Fios Genomics, Geneva Bioinformatics (GeneBio) SA, GVK Biosciences and Accelerys Inc.
The global bioinformatics services market is expected to grow from $3.19 billion in 2022 to $3.68 billion in 2023 at a compound annual growth rate (CAGR) of 15.19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bioinformatics services market is expected to reach $6.67 billion in 2027 at a CAGR of 16.05%.
The bioinformatics services market includes revenues earned by entities through single-cell analysis, proteomics analysis, metabolomics analysis, and epigenetics analysis.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Bioinformatics services involve a wide range of computational tools, resources, and analyses utilized in bioinformatics. Bioinformatics services include the identification of connections between technical and biological variables in the study through the assessment of sample metadata, data quality control, and data normalization across samples.
North America was the largest region in the bioinformatics services market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of bioinformatics services are sequencing services, data analysis, drug discovery services, differential gene expression analysis, database and management services and other bioinformatics services.Sequencing services refer to the process of finding the precise order of nucleotides in a particular sample.
The different bioinformatics services specialties include medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology and forensic biotechnology. The applications of bioinformatics services include genomics, chemoinformatics and drug design, proteomics, transcriptomics, metabolomics and other applications used by end-users including academic institute and research centers, hospital and clinics, pharmaceutical and biotechnology companies, CROs and other end users.
The increasing use of information technology in healthcare is expected to propel the growth of the bioinformatics services market going forward.The increased use of information technology in healthcare has assisted healthcare practitioners in improving the quality of treatment they provide to patients, improving patient safety, increasing efficiency, lowering costs, and improving communication among healthcare professionals.
Bioinformatics services, which involve the use of computer science and statistics for analyzing biological data, depend heavily on information technology (IT).For instance, in August 2021, according to the Accenture Health and Life Sciences Experience Survey, a Europe-based company specializing in information technology consulting and services, only 7% of consumers had a virtual consultation with a provider in early 2020, compared to 32% this in 2021.
There was also an increase in the use of electronic health records, with 31% of patient group using EHR in 2021.Remote patient monitoring also increased since the previous pre-pandemic assessment.
Therefore, the increasing use of information technology in healthcare is driving the growth of the bioinformatics services market going forward.
Technological advancements are a key trend gaining popularity in the bioinformatics services market.Companies operating in the bioinformatics services market are adopting new technologies to sustain their position in the market.
For instance, in July 2022, bitBiome Inc., a Japan-based microbiome analysis company, launched the Enzyme Discovery service. Enzyme Discovery Service is based on the globe’s largest microbial genome database (MMGDB) and unique bioinformatics technologies. To create the MMGDB, bitBiome employs its fundamental technology, bit-MAP, a microbial single-cell genome analysis technique, to analyze the human microbiome as well as the environmental bacteria living in soil, the ocean, and hot springs. With its unique bioinformatics and 3D structural modeling technologies, BitBiome provides enzyme discovery services such as searching for optimal sequences from the MMGDB.
In May 2022, ZS, a US-based management consulting company, acquired Intomics A/S for an undisclosed sum.This acquisition broadens, diversifies, and enriches ZS’s portfolio by combining deep data, academic and scientific experience, technology, and artificial intelligence, which can ultimately accelerate drug discovery and raise the likelihood of success for novel drugs.
Intomics A/S is a Europe-based company specializing in bioinformatics and systems biology that operates in the bioinformatics services market.
The countries covered in the bioinformatics services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the chain or as part of other products.
The bioinformatics services market research report is one of a series of new reports that provides bioinformatics services market statistics, including bioinformatics services industry global market size, regional shares, competitors with a bioinformatics services market share, detailed bioinformatics services market segments, market trends and opportunities, and any further data you may need to thrive in the bioinformatics services industry. This bioinformatics services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466604/?utm_source=GNW
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