Bioinformatics platforms are specialized software solutions that are used extensively in healthcare for varied purposes including sequencing and analysis of genetic codes, drug discovery and development processes, biomarker exploration, and personalized medicine. With the emergence of next-generation sequencing technologies that can sequence genomes at a much faster pace and lower costs, the use of bioinformatics platforms has also increased significantly. Such platforms are capable of storing large volumes of sequencing data, support data retrieval and analysis, integrate various tools for mining biological information, and offer visualization solutions.
The global bioinformatics platforms market is estimated to be valued at US$ 13.15 billion in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
AI-powered bioinformatics platforms can analyze large and complex genomic and proteomic datasets faster, discover hidden patterns, and predict outcomes more accurately, thus helping researchers.
Market Dynamics:
Increasing adoption of artificial intelligence: The integration of artificial intelligence in bioinformatics platforms is emerging as a major trend in the market. AI capabilities can help bioinformatics platforms to analyze large volumes of complex genomic and proteomic data faster. It can discover insights and connections, assist researchers in drug target identification, and precision diagnostics. AI also helps predictive analytics for conditions like cancers. These advantages are resulting in the increasing adoption of AI-based bioinformatics solutions.
Segment Analysis
Bioinformatics Platforms Market is dominated by the genomics sub-segment, which held around 33% market share in 2024. Advancements in genomics and next-generation sequencing technologies have increased the flow of genomic data that needs to be stored, processed and analyzed. Bioinformatics platforms help genomic researchers efficiently store and analyze this huge amount of data to gain meaningful biological insights. This growing demand from genomics research is the key factor driving the dominance of this sub-segment.
PEST Analysis
Political: Government investments in developing genomic capabilities and funding for genomic research projects positively impact the market growth. However, strict regulations around data privacy and security pose challenges.
Economic: Rising R&D investments of pharmaceutical and biotech companies and increasing collaborations between industry and academia spur market opportunities. The high setup and operating costs of these platforms also affect purchasing decisions.
Social: Growing public-private initiatives to decode genetic variations fueling diseases and their treatments increase social emphasis on genomic and precision medicine research.
Technological: Advancing fields of cloud computing, artificial intelligence and machine learning are integrating with bioinformatics platforms. This enhances their analytical power and expands applications in drug target identification and vaccine development.
Key Takeaways
The Global Bioinformatics Platforms Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global bioinformatics platforms market is estimated to be valued at US$ 13.15 billion in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024-2031.
Regional analysis comprises:
North America is dominating with the US being the major revenue generating country. This is attributed to availability of advanced research infrastructure, growing genomic research initiatives and increasing funding for precision medicine projects. Asia Pacific is the fastest growing region supported by rising R&D expenditure of emerging economies and expanding biopharma industry.
Key players analysis comprises:
Key players operating in the bioinformatics platforms market are Canon Inc., Zebra Technologies Corporation, Hewlett-Packard (HP) Inc., Epson America, Inc., and BIXOLON. These players dominate the market due to their intense focus on advancing analytical tools, deep learning solutions and suite of bioinformatics software offerings.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it