Bioinformatics Global Market Report 2021: COVID-19 Growth And Change To 2030

July 20, 2021 Off By admin

The bioinformatics market is made up of companies that sell bioinformatics software and related services. Bioinformatics is the analysis of biological data for drug discovery and preclinical studies using computer programming, information engineering, mathematics, and statistics.
The bioinformatics market covered in this report is divided into knowledge management tools, data analysis platforms, and services. The bioinformatics market is also divided into applications such as metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics, and others, as well as end users such as pharmaceutics, animal research, agriculture, forensic science, and others.
The global bioinformatics market is expected to grow at a compound annual growth rate (CAGR) of 12.7 percent from $9.38 billion in 2020 to $10.57 billion in 2021. The increase is primarily due to companies resuming operations and adapting to the new normal while recovering from the COVID-19 impact, which had previously resulted in restrictive containment measures such as social distancing, remote working, and the closure of commercial activities, resulting in operational challenges. The bioinformatics market is expected to reach $18.46 billion by 2025, growing at a 15% CAGR.
The bioinformatics market is expanding due to increased demand for protein sequencing. Protein sequencing is the process of determining the sequence of amino acids in all or a portion of the proteins present in DNA, from which specific functions, activities, origin, or localization of the protein can be determined. Protein sequencing assists analysts in comprehending the distribution of amino acids along sequences as well as the structure of proteins. Protein capacity, structure, and developmental history can be effectively identified using bioinformatics methods and databases. Protein sequencing demand is expected to rise as a result of advancements in clinical mass spectrometry and analytical techniques, as well as significant adoption of target-based drug development by pharmaceutical and biotechnology companies. For example, the total number of protein sequences in UniProtKB, a free database of protein sequence and functional information, increased by more than 325 percent.

The lack of interoperability among various available data formats is stifling the bioinformatics market. Different data formats have different data structures. There are numerous protein databases available through various resources, and each database chooses a different format for representing proteins. Various data models, such as the object data model and the relational data model, are also used when collecting data. As a result, the problem of interoperability arises when a researcher attempts to integrate the results of distinct databases that exist in various data formats. Compressed Row Storage (CRS), Sparse Vector, Avro, Parquet, and ORC are some of the data formats available for bioinformatics (Optimized Row Compressed). According to a Pharmaphorum report, an estimated 80% of researchers’ time is spent on data grooming and only 20% on actual data analysis. This is primarily due to the lack of standardised file types and inconsistent data formatting, which means that with each new programme comes a new data format. Interoperability issues caused by the use of multiple data formats are limiting market growth.
Companies in the bioinformatics market are increasingly investing in nanopore sequencing technology research and development. Nanopore sequencing is a single-molecule DNA sequencing technology that does not require Polymerase Chain Reaction or chemical labelling of the sample. This technology sends ionic current through nanopores (a nanometer-sized pore), and when biological molecules pass through or near the nanopores, this technology measures the changes in current, which can be used to identify the molecule. Nanopore sequencing technology provides the analyst with high throughput, low cost, longer reads (Sequence of a section of a unique fragment) and aids in data collection, which is an important part of bioinformatics. Oxford Nanopore Technologies, for example, raised $140 million for commercial expansion and support for additional research and development in the field of nanopore technology. In addition, Amgen, a biotechnology company, invested $66 million in the company.
Various regulatory bodies oversee the quality and compliance of bioinformatics platforms in the market. In India, for example, the bioinformatics market is regulated by the Biotechnology Industry Research Assistance Council (BIRAC), which was established by the Department of Biotechnology (DBT) of the Government of India. Technology Readiness Levels (TRLs) are introduced by BIRAC as a measure of estimating the maturity of technology while in the evaluation phases until these technologies are complete enough to be offered commercially. The TRL scale has nine technology readiness levels, with TRL1 indicating that the technology is being developed and TRL9 indicating that the technology is ready for commercial use. To have their product commercially available and ready to market, manufacturers must progress past TRL9. These TRLs are made up of various levels of compliance and processes that manufacturers must follow. According to international standards, the bioinformatics platform is evaluated for quality, feasibility, data privacy, and protection.
APIS Assay Technologies Ltd, a UK-based biotechnology company, acquired BeoGenomics for an undisclosed sum in September 2020. APIS Assay Technologies Ltd can more effectively capture the exciting opportunities presented in the bioinformatics space with the addition of Beogenomics’ proven expertise in bioinformatics. BeoGenomics is a bioinformatics company based in the United States that specialises in the processing and analysis of NGS, SNP chip, and GeneChip genomic data.
Agilent Technologies, Illumina, QIAGEN, Affymetrix, and Thermo Fisher Scientific are major players in the bioinformatics market.
Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa are the regions covered in the bioinformatics market report.
Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States are among the countries covered in the bioinformatics market report.
The global bioinformatics market is divided into three categories: 1) Products and Services: Knowledge Management Tools, Data Analysis Platforms, and Services
2) Application: Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics, and Others
3) Pharmaceutics, Animal Research, Agriculture, Forensic Science, and Other End Users.