Bioinformatics Services Market To Reach USD 5.12 Billion By 2026 | CAGR of 11.7%
: New York, United States, 28-July-2020, (Via WiredRelease), (Reports and Data) – The Global Bioinformatics Services Market is forecast to reach USD 5.12 Billion by 2026, according to a new report by Reports and Data. Increase in demand for integrated data solutions in order to deal with a large amount of data generated by associated technologies and high throughput sequencing are increasing the demand for bioinformatics services. Increase in research and development in fields such as proteomics, transcriptomics, and metabolomics are anticipated to boost the data storage and analysis and IT applications capabilities.
Increase in collaborations between research institutes and companies and rise in popularity of personalized medicines will provide new opportunities for the growth of the market. Lack of skilled professionals, high cost of research and development and lack of awareness is hindering the growth of the market.
North America dominates the market for Bioinformatics. The major contribution is from the US owing to the well-defined framework and the development of state of the art technologies. The rise in the implementation of personalized medicine, early adoption of latest technologies, development of next-generation sequencing and chemical laboratories are boosting the market
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Qiagen Inc., IBM Life Sciences, Illumina Inc., GVK Biosciences, Nxt-Dx, Biovia (Accelrys Inc), Non Linear Dynamics, Biomax Informatics AG., DNAnexus Inc., Affymretrix Inc., Geneva bioinformatics, Bruker Daltonics, and Life Technologies Corporation, among others.
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For the purpose of this report, Reports and Data have segmented into the global Bioinformatics Services market on the basis of type, propellants, application, and region:
Service Type Outlook (Revenue, USD Billion; 2016-2026)
Sequencing ServicesData Analysis ServicesDrug Discovery ServicesDifferential Gene Expression AnalysisDatabase Management ServicesOthers
Application Outlook (Revenue, USD Billion; 2016-2026)
End User Outlook (Revenue, USD Billion; 2016-2026)
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key insights of the report:
The report delivers key statistics on the current market status of the Bioinformatics Services manufacturers and is a reliable source of guidance and direction for the companies and individuals interested in the industry. The report delivers an overview of the industry, including the basic definition, applications, the latest manufacturing technology, and others. The report comprises of the company profile, product specifications, production capacity, production value, and market shares for the key competitors. The market is further divided by company, by country, and by application/type for the competitive landscape analysis.
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