Bioinformatics Services Market Size, Share & Trends Analysis Report By Type (NGS, Chemoinformatic, Microarray Data Analysis, Biological Data Curation), By Application, By Sector (Medical, Animal, Agricultural, Academics), By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global bioinformatics services market size was valued at USD 2.85 billion in 2023 and is expected at a compound annual growth rate (CAGR) of 15.6 % from 2024 to 2030. The pharmaceutical and biotechnology industries increasingly rely on bioinformatics services to accelerate drug discovery and development. Bioinformatics tools aid in understanding disease mechanisms, identifying potential drug targets, and predicting drug interaction outcomes. Integrating bioinformatics in drug discovery has become essential for companies aiming to reduce the time and cost of bringing new drugs to market. As these industries continue to expand, with the rise of biologics and biosimilars, the demand for bioinformatics services is expected to grow in the coming years.

Cloud computing offers scalable, flexible, and cost-effective platforms for storing and analyzing large datasets, making it easier for organizations of all sizes to access advanced bioinformatics tools. The shift towards cloud-based services benefits smaller companies and research institutions that need more resources to invest in expensive hardware and software infrastructure. Collaborating globally and sharing data in real time further enhances the utilization of cloud-based bioinformatics services, driving their adoption across various sectors.

The bioinformatics services market is witnessing a surge in strategic partnerships and collaborations among companies, driven by the need to enhance their service offerings and expand their market reach. Leading bioinformatics firms are increasingly partnering with pharmaceutical companies, research institutions, and technology providers to leverage complementary strengths and address the growing demand for comprehensive data analysis solutions. These partnerships and collaborations focus on integrating advanced bioinformatics tools with cloud-based platforms, developing new algorithms for data interpretation, and co-developing personalized medicine applications. For instance, in April 2024, SOPHiA GENETICS and Strand Life Sciences announced a strategic partnership to enhance the use of precision medicine globally. This collaboration leverages companies' strengths to provide access to advanced genomics technologies, innovative diagnostics solutions, and cutting-edge bioinformatics services. 

Type Insights

The NGS segment accounted for the largest market revenue share of 29.9% in 2023. Personalized medicine relies on the detailed analysis of an individual's genetics to customize medical treatments to their specific needs. NGS provides the high-resolution genetic data required for such personalized approaches, but this data must be processed and interpreted using advanced bioinformatics tools. The increasing focus on developing targeted therapies, especially in oncology, further drives the demand for NGS-based bioinformatics services, as these services are essential for identifying genetic mutations and biomarkers that guide treatment decisions.

The scientific software testing segment is expected to register the fastest CAGR during the forecast period. As bioinformatics tools are adopted by broader users, including researchers with varying levels of computational expertise, their usability becomes a critical factor. Software testing aids ensure that bioinformatics applications are functionally robust, intuitive, and accessible to end users. This involves testing for user interface design, workflow integration, and overall user experience. As bioinformatics continues to expand into new fields and user bases, the emphasis on software quality and usability is driving the growth of scientific software testing services.

Application Insights

The genomics application segment accounted for the largest market revenue share in 2023. Pharmaceutical and biotechnology companies increasingly use genomic data to identify novel drug targets, understand disease mechanisms, and predict patient responses to therapies. Bioinformatics services are crucial in analyzing genomic data to identify genetic variants associated with diseases, discover biomarkers, and support the development of targeted therapies. As the industry moves towards more personalized and precision-based drug development, bioinformatics services are expected to continue to rise.

The proteomics segment is expected to witness the fastest CAGR over the forecast period. Biomarkers are essential for early disease detection, diagnosis, and personalized treatment strategies. Proteomics plays a crucial role in identifying and validating these biomarkers by analyzing protein expression patterns and modifications. The complexity of proteomics data necessitates using advanced bioinformatics tools to identify potential biomarkers and understand their biological significance. As the necessity for research focused on biomarkers escalates, the requirement for bioinformatics services capable of supporting this essential component of precision medicine also increases.

Sector Insights

The academic segment accounted for the largest market revenue share in 2023. As bioinformatics becomes an integral part of modern biological and medical research, there is a rising demand for educational programs that equip students and researchers with the necessary skills. Universities increasingly offer specialized bioinformatics courses, degrees, and certifications to meet this demand. To support these educational initiatives, academic institutions require access to bioinformatics services that provide the tools and resources needed for teaching and hands-on training. This includes access to databases, software, and computational infrastructure, driving the academic demand for bioinformatics services.

The animal sector is expected to witness significant growth over the forecast period. Conservation efforts and wildlife genomics are emerging areas where bioinformatics services are becoming increasingly important. Researchers use genomics to study endangered species, understand population genetics, and develop conservation strategies. Bioinformatics plays a key role in analyzing genetic diversity, identifying at-risk populations, and assessing the impact of environmental changes on species. As conservation genomics evolves more data-intensively, the need for bioinformatics services to manage and interpret large-scale genomic data is growing.

Regional Insights

North America dominated the bioinformatics services market in 2023. Companies in the North America region is at the forefront of innovations in genomics, proteomics, and other technologies, driving the demand for bioinformatics services. The region’s well-established infrastructure for biotechnology and life sciences research supports a robust ecosystem for bioinformatics, with continuous investments in advanced research and development. The presence of major players in the industry, coupled with collaborations between academic institutions and private companies, is driving demand for the bioinformatics services market in the North America region.

U.S. Bioinformatics Services Market Trends

The U.S. bioinformatics services accounted for the largest revenue share in 2023. Precision medicine aims to customize treatments for individual patients based on their genetic, environmental, and lifestyle factors. This approach heavily analyzes large datasets, including genomic and clinical data, to identify personalized treatment strategies. Bioinformatics services are crucial for processing and interpreting this data, making them indispensable to precision medicine initiatives gaining momentum nationwide, driving demand for bioinformatics solutions.

Asia Pacific Bioinformatics Services Market Trends

The Asia Pacific bioinformatics services market is expected to witness the fastest CAGR over the forecast period. Research in cancer genomics involves analyzing tumor-specific genetic mutations and identifying biomarkers that guide treatment decisions. Bioinformatics services are essential for managing and interpreting the large datasets generated in cancer genomics studies, including data from next-generation sequencing (NGS) and other high-throughput technologies. The increasing emphasis on personalized oncology and the development of precision cancer treatments are key factors contributing to expanding the bioinformatics services market in the Asia Pacific region.

The China bioinformatics services market is expected to witness significant growth over the forecast period. The rising prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, in China, is fueling the need for bioinformatics services. In 2022, the prevalence of any chronic diseases was 81.1%, representing 179.9 million Chinese older adults. The prevalence increased with aging and peaked at 80 to 84 years old[SH1] . As healthcare providers and researchers pursue understanding these diseases' genetic and molecular basis, bioinformatics tools are increasingly used to analyze patient data and identify biomarkers for early detection, diagnosis, and treatment. The growing number of chronic diseases drives investment in research and development efforts to find personalized and effective treatments, increasing the demand for bioinformatics services.

Europe Bioinformatics Services Market Trends

Europe bioinformatics services market is expected to witness significant growth over the forecast period. The bioinformatics services market in Europe is growing as the countries in the region are applying bioinformatics in agriculture, particularly in crop improvement, pest resistance, and livestock breeding. As the agriculture sector increasingly adopts genomics and other technologies to enhance productivity and sustainability, bioinformatics plays a crucial role in analyzing and interpreting the large datasets generated. This includes identifying genetic markers for desirable traits, optimizing breeding programs, and developing disease-resistant crops. The increase in precision agriculture, where bioinformatics enables customized farming practices based on genetic data, further accelerates the demand for bioinformatics services in Europe agricultural sector.

The UK bioinformatics services market is expected to witness significant growth over the forecast period. As consumers become more interested in health and wellness, a growing demand for personalized dietary and lifestyle recommendations based on genetic and metabolic profiles is growing. Companies in the nutrition and wellness industry are leveraging bioinformatics to analyze genomic and metabolomic data to create customized nutrition plans, supplements, and health interventions. This trend is driving the need for bioinformatics services that analyze and interpret individual genetic data, supporting the development of personalized wellness solutions.

Key Company & Market Share Insights

Some key companies in the bioinformatics services market include CD Genomics, Agilent Technologies, Inc., Fios Genomics, Labvantage - Biomax GmbH, and others.

• CD Genomics is a biotechnology company specializing in comprehensive genomic and bioinformatics solutions. The company offers a wide range of services including Next-Generation Sequencing (NGS), genotyping, microarray analysis, and transcriptomics. Its product offerings encompass Genomic Data Analysis, Transcriptomic Data Analysis, Single-cell RNA Sequencing Data Analysis Service, and others.

Recent Developments

• In July 2023, FOXO Technologies launched its Bioinformatics Services, aiming to transform the analysis of epigenetic data. This platform accelerates breakthroughs in biology, biotechnology, and healthcare and redefines the growing field of epigenetic research. This initiative addresses the longstanding challenges in processing, analyzing, and interpreting epigenetic data.

Bioinformatics Services Market Report Scope

Global Bioinformatics Services Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global bioinformatics services market report based on type, application, sector, and region.

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • NGS

    • Targeted Sequencing Analysis

    • Transcriptome Analysis

    • Whole Genome

    • Chip Seq Analysis

    • De novo Assembly

    • Methyl Seq Analysis

  • Chemoinformatics

    • Sequence Analysis Platforms

    • Molecular Modeling

    • Docking

    • Clinical trial data management

    • Others

  • Microarray data analysis

  • Biological data curation

  • Scientific software testing

  • Other services

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Genomics

  • Transcriptomics

  • Proteomics

  • Metabolomics

  • Drug Discovery

  • Others

• Sector Outlook (Revenue, USD Million, 2018 - 2030)

  • Medical

  • Animal

  • Agricultural

  • Academics

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait