Global Market Study on Bioinformatics Services: East Asia Features a Whirlwind of Opportunities


Bioinformatics Services  Market
  • Published On : Jul-2019 |
  • Pages : 200 Pages |
  • Format : Bioinformatics Services  Market Bioinformatics Services  Market Bioinformatics Services  Market Bioinformatics Services  Market

As the healthcare industry strives to stay abreast with the latest technology, innovation has been a routine feature. With the undercurrents of data mining arriving at the shores of the biotechnology industry, biologists find it easy to stream new healthcare trends of ‘preventive rather than curative treatment’.

‘Data is the real resource’ becomes the new adage for numerous industries and even biotechnology industry hasn’t barred out. With governments’ support and freehand at funds for research and development initiatives, bioinformatics services for computational biology have been spectating impressive ascension in their deployment rate.

A rise in the funding has incited the scramble of bioinformatics service providers towards targeting critical application areas such as gene therapy, forensic analysis, veterinary science, microbial genome applications, drug development, and molecular medicine to broaden their operational areas.

Sensing the high infiltration of bioinformatics services in numerous applications and conscious efforts put in by service providers to cater to the surging demand from numerous end users, Persistence Market Research (PMR), in its latest study, measures the growth potential of the landscape by tracking the impact of key trends.

Historical Scope and Future Perspectives of the Bioinformatics Services Market

The emergence of bioinformatics services traces their evolution to the 1960s in concordance with the development of protein sequencing methods. The development of advanced tools for the prediction of putative protein sequences and function of genes have, in turn, attributed unprecedented popularity to bioinformatics services in the world science. Following this, the deployment of bioinformatics services recorded a value of ~US$ 1.9 billion in 2018.

Emerging applications of integrated bioinformatics systems in proteomics and genomics have been widening the opportunity window for service providers to target the niche demand by developing precise and cost-effective solutions. As the high throughput biological data further accumulates in the ‘omics’ field, bioinformatics solutions will emerge viable to analyze the Big Data. The future demand for bioinformatics solutions is likely to remain bright, in light of the surging need for accurate and high-quality data analysis tools. However, service providers operate under the stress of controlling the cost of their services, which is crucial to boost the penetration of their services. 

Key Trends Streaming in the Bioinformatics Services Market

Sequencing Service to Account for ~38% of Sales

As funding from the government as well as private bodies for next-generation sequencing based projects increases, technological advancements coupled with decreasing sequencing costs create need for high-throughput analysis of a large amount of data generated through sequencing.

Among the other bioinformatics services, sequencing services are likely to remain preferable among end users – Academics and research centers, forensic laboratories, and pharmaceutical and biotechnology industries - for analyzing voluminous data generated through sequencing. As the cost of these services exerts their influence on sales, reduction on the prices of sequencing service will remain an attractive buying proposition for end users.

Growth of Bioinformatics Services Market to Scale in North America and Leap in East Asia

Streamlined regulatory norms and government initiatives in the U.S. and Canada are inciting more participants to invest in the bioinformatics services market, which is likely to generate high revenue in North America. In addition, consistent development of the next generation sequencing and chemical laboratories are the key influential factors responsible for the high infiltration of bioinformatics services.

East Asia has been emerging as an attractive market, owing to the penetration of bioinformatics services at an exponential rate. Favorable funding scenario in the healthcare sector in the region coupled with the prevalence of genetic diseases has been proliferating the deployment rate of bioinformatics services.

bioinformatics services market north america

Assessing Winning Imperatives in the Bioinformatics Services Market

  • Develop in-house Solutions

Since lack of skilled bioinformatics professionals has been hard pressing the service providers to outsource their solutions in developing countries to control hefty investments. However, traditional issues regarding the outsourcing of projects such as extended time and cost remain a challenge for bioinformatics service providers. Henceforth, service providers can rely on the development of in-house bioinformatics solutions.

  • Collaborate with Academic Research Institutes

As compared to the other end-use segments, academic research centers have been spectating voluminous adoption of bioinformatics solutions, which surfaces business development opportunity for service providers. They can enter into contracts with the academic research institutes and foster customization, as per the need, to maintain a streamlined inflow of funds.

  • Invest in Skill Development Projects

Given the convergence of technology and healthcare industry, bioinformatics services require professionals with a knowledge of both the worlds. Since installation and training of bioinformatics services installation require high competency, scarcity of professionals has been causing reluctance among end users towards the adoption of bioinformatics services. Service providers can cash in on the opportunity and expend their efforts towards enhancing the skill set of labors and help them build better business relationship with end users. 

Bioinformatics Services Market – Competitive Matrix 

The bioinformatics services market evinces a high degree of consolidation. The leading players accounting for a hold on the global bioinformatics services market with a share of ~68% are:

  • Thermo Fisher Scientific
  • Illumina, Inc.
  • DNANexus, Inc.
  • QIAGEN N.V.
  • PerkinElmer Inc. 

Considering the evolutionary landscape that the bioinformatics services market is, establishments of new service centers remain an influential strategy for the leading players, which is made possible with their high investment capabilities. 

Assessing the lucrativeness of regions and marking a presence in multiple regions offers the leading bioinformatics service providers a high-competitive edge over their regional and local equivalents. For instance, in November 2017, Thermo Fisher Scientific Inc. announced the inauguration of its bioprocess Design Center in the Asia Pacific market, in China. The facility will enable scientists of the company to collaborate with regional developers to deliver competent bioprocessing solutions. 

The regional players account for a market share of ~11%:

  • Biomatters Geneious
  • CD Genomics
  • Strand Life Sciences
  • Premier Biosoft

These players emphasize on product innovation and investment in the East Asia region. For instance, in October 2018, Strand Life Sciences, Inc. averred that it has acquired India Diagnostics Business from Quest Diagnostics to penetrate into the new market.

bioinformatics services market segmentation

Analysts’ Inference of the Bioinformatics Services Market

The author(s) of the report maintains a bullish perspective of the bioinformatics services market and anticipates a CAGR of ~19% during the forecast period. As medical professionals’ quest for effective preventive and curative treatment methodologies grow, penetration of bioinformatics services is likely to ascend in numerous healthcare applications. North America will maintain its lead in the bioinformatics services market, in light of its intelligence in technology and healthcare, however, East Asia will remain an attractive region for gaining high returns on investment.

With a high initial investment in the bioinformatics services market, the existing players have a safe position, since the threats from the new market entrants are low. Investments made in skill development initiatives are likely to enhance brand positioning as end users seek the ease of installation of bioinformatics solutions in their establishments.

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Increasing prevalence of diabetes and other chronic diseases to boost the bioinformatics services market

The rapidly increasing prevalence of chronic diseases and the growth of the aging population across the world are among factors that are expected to boost the bioinformatics services market.

For example, according to World Health Organization (WHO), the prevalence of diabetes has surged from 108.0 million in 1980 to 422.0 million in 2014, and the number is rising rapidly. The WHO further states that the prevalence of chronic diseases is expected to increase by 57.0% by 2020, which indicates that a significant percentage of population is suffering from chronic diseases.

Increasing aging population is expected to increase the demand of therapeutic drugs, which is expected to contribute to the growth of the bioinformatics services market.

Increasing collaborative activities between IT and pharmaceutical companies to boost the bioinformatics services market

The rapidly increasing collaborative activities, which include collaborations and agreements undertaken by information Technology (IT) companies with pharmaceutical companies, along with Clinical Research Organizations (CROs), is expected to enhance the revenue growth of the bioinformatics services market throughout the forecast period.

Companies are undergoing various partnerships and collaborations to develop and upgrade the key healthcare technologies associated with cloud computing. For instance, in June 2018, Amazon announced the acquisition of online pharmacy business PillPack, with an intention to enter the lucrative healthcare market.

Thus, increase in the number of partnerships and collaborations between IT and pharmaceutical companies is expected to boost the bioinformatics services market as it offers a significant platform for healthcare e-solutions.

Increasing adoption of IT solutions in the academic sector to fuel the growth of the bioinformatics services market

Increasing adoption of IT solutions in the academic sector is expected to contribute to the growth of the bioinformatics services market owing to the overall benefits associated with the usage of IT solutions for generating laboratory protocol along with data management and data analysis.

Academic and research institutes, being one of the major revenue-generating end-use segments, is anticipated to witness rapid growth in the bioinformatics services market due to an increase in the adoption of information technologies in distinct research areas, such as genomics, metabolomics, proteomics, and drug discovery programs, which are carried out by various research institutes and universities.

Competitive Landscape

The competition section of the report features profiles of the key players operating in the bioinformatics services market based on their market shares, development strategies, product line, marketing strategy, and company dashboard. Examples of some of the key players featured in this report include

  • Illumina Inc.,
  • Thermo Fisher Scientific
  • Strand Life Sciences
  • Biomax Informatics AG
  • DNANEXUS, INC.
  • Agilent Technologies, Inc.
  • QIAGEN N.V.
  • Gene Codes Corporation
  • BGI Group
  • PerkinElmer Inc.
  • Premier Biosoft and other companies.

Perkin Elmer, Thermo Fisher, and Qiagen are among the top key players operating in the bioinformatics services market, and are expected to generate a large revenue share in the bioinformatics services market.

Request information on the bioinformatics services market competitive landscape.

Definition

Bioinformatics refers to the science of retrieving, storing, and analyzing a large amount of biological information. It is referred to as a highly interdisciplinary field that includes different types of specialists, which include computer scientists, biologists, molecular life scientists, and mathematicians.

About the Report

PMR has conducted a research study on the bioinformatics services market for the forecast period 2019 to 2029. The bioinformatics services market report offers a comprehensive evaluation of the business opportunities prevailing in the bioinformatics services market, along with insights on the current trends pertaining to bioinformatics, and their multiple applications. The report elaborates the macroeconomic factors that influence the dynamics of the bioinformatics services market and its futuristic potential.

Segmentation

The report offers a comprehensive taxonomy of the bioinformatics services market based on the service type, application, end user, and region. Based on the service type, the bioinformatics service market has been segmented into sequencing, data storage & management, data analysis, drug discovery, and other types of services. Based on the application, the bioinformatics services market has been segmented into drug development, molecular development, microbial genome application, gene therapy, veterinary science, forensic analysis, and other applications associated with the bioinformatics services market. Based on the end user, the bioinformatics services market has been segmented into academic & research center, pharmaceutical & biotechnology industries, forensic laboratories, and other end users. The bioinformatics services market has been analyzed across various regions, namely North America, Latin America, Europe, East Asia, South Asia Oceania, and the Middle East & Africa.

Additional Questions Answered

Some of the additional questions addressed in this report on the bioinformatics services market:

  • What is the revenue potential of the bioinformatics services market across North America and Europe?
  • Who are the key competitors and what are their portfolios in the bioinformatics services market?
  • What are major challenges influencing the growth of the bioinformatics services market?
  • How intervention from regulatory authority is shaping the growth of the bioinformatics services market?

Research Methodology

The bioinformatics services market has been estimated based on primary research and secondary research. Primary research includes the study of major drivers and restraints of the bioinformatics services market. Other factors, such as the key winning strategies followed by the key players operating in bioinformatics services market, opportunities for the growth of market, etc., are based on primary research. Primary research can be done through calls, telephonic interviews, surveys, etc. Secondary research consists of extracting data from company websites, various databases, different data sources, and the annual reports of various key players in the bioinformatics services market.

Persistence Market Research (PMR), in its latest study, scrutinizes significant opportunities available in the bioinformatics services market during the forecast period 2019-2029. This comprehensive report studies the relevance and impact of key trends and crucial developments observed in the bioinformatics services landscape. In addition to this, it also provides actionable intelligence into the bioinformatics services market by assessing key drivers, restraints, threats, and opportunities.

The global study assesses the macroeconomic as well as microeconomic factors that help in comprehending significant growth opportunities for the bioinformatics services market during the forecast period.

The bioinformatics services market has been evaluated in terms of value (US$ Mn). The insights covered in this comprehensive report will assist the stakeholders of the bioinformatics services market to identify key opportunities for their business advancement. This comprehensive study highlights some of the leading and prominent players functioning in the bioinformatics services market.

This detailed report offers valuable insights regarding the market players, along with their business strategies, financials, and key developments. This will assist the stakeholders in navigating their business in the direction of growth.

Bioinformatics Services Market – Segmentation

This detailed research report on the bioinformatics services market offers a comprehensive analysis of the market attractiveness with the help of key segmentations. The bioinformatics services market has been segmented on the basis of service type, application, end user, and region. This detailed report also offers a comprehensive country-wise analysis of the bioinformatics services market, in order to comprehend the demand and supply of the bioinformatics services market.

Each of the segments covered in this research report has been analyzed in detail, in order to obtain key insights into the bioinformatics services market. The research report on the bioinformatics services market offers an analysis of the historical and current trends influencing the growth of each segment. Additionally, it also includes value chain analysis, Y-o-Y growth analysis, and supply chain analysis.

Service Type

Application

End User

Region

Drug Development

Sequencing

Academics and Research Centers

North America

Molecular Medicine

Data Storage and Management

Pharmaceutical and Biotechnology Industries

Latin America

Microbial Genome Applications

Data Analysis

Forensics Laboratories

Europe

Gene Therapy

Drug Discovery

Others

South Asia

Veterinary Science

Others

East Asia

Forensic Analysis

Oceania

Others

Middle East and Africa

Bioinformatics Services Market – Key Questions Answered

This comprehensive report authored by our seasoned analysts strives to resolve the key concerns regarding the bioinformatics services market. This comprehensive guide provides salient answers to the key questions concerning the stakeholders of the bioinformatics services market. Some of the key questions answered in this exclusive guide include:

  • What is the consumption scenario of bioinformatics in terms of value during the forecast period?
  • What are the key drivers shaping the growth of the bioinformatics services market?
  • How will the bioinformatics services market evolve during the forecast period?
  • What are the key challenges and threats restraining the growth of the bioinformatics services market?
  • What are the macroeconomic and microeconomic factors influencing the growth of the bioinformatics services market?
  • Which application segment will remain the key contributor in terms of value during the forecast period?

Bioinformatics Services Market – Research Methodology

Our analysts employ a systematic approach to arrive at the market numbers and exclusive insights into the trends influencing the bioinformatics services market growth, which can aid the readers understand how the growth of the market will unfold during the forecast period. Our analysts adopt a systematic research methodology to conduct an assessment of the bioinformatics services market to acquire information regarding the market size.

The secondary resources that contribute to the development of this exclusive guide include government documents, white papers, regulations, and research papers. Primary research has been conducted by our analysts, which includes conduction of interviews with industry experts, key opinion leaders, industry players, and business heads.

Companies covered in Bioinformatics Services Market Report

Company Profiles:

  • Illumina, Inc.
  • Thermo Fisher Scientific
  • Strand Life Sciences, Inc.
  • CD Genomics
  • Biomax Informatics AG
  • DNANEXUS, INC. 
  • Agilent Technologies, Inc.
  • QIAGEN N.V.
  • Gene Codes Corporation
  • BGI Group
  • Gene Code Corporation
  • PerkinElmer Inc. 
  • Premier Biosoft
  • Biomatters Geneious 
  • Creative-Biolabs
  • DNASTAR
  • GSL Biotech LLC (SnapGene) 
  • FIOS Genomics

 

Bioinformatics Services Market

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