Market Trends of Bioinformatics Industry
This section covers the major market trends shaping the Bioinformatics Market according to our research experts:
Sequence Analysis Platform Segment is Expected Hold a Significant Share Over the Forecast Period
In bioinformatics, sequence analysis is the process of subjecting a DNA, RNA, or peptide sequence to any of a wide range of analytical methods to understand its features, function, structure, or evolution. The advancements in next-generation sequencing (NGS) technologies regarding throughput, read length, and accuracy had a major impact on microbiome (genetic) research. These advancements have significantly improved 16S rRNA amplicon sequencing.
Commercially available platforms, like Illumina MiSeq, Ion Torrent PGM, and Roche 454 GS FLX Titanium, are equipped with standard and modified library preparation protocols. These sequencing and analysis platforms can reduce sequencing errors by bioinformatically removing chimeras and other sequencing artifacts from 16S rRNA amplicon sequences generated by pyrosequencing. Such advantages of sequence analysis in the bioinformatics market are expected to propel the growth of the market segment.
Furthermore, several market players have been utilizing sequence analysis platforms for various R&D studies. For instance, in December 2021, Singular Genomics Systems Inc. announced the commercial launch of the G4, the world's most powerful benchtop sequencer. The next-generation sequencing platform featured novel high-performance chemistry and advanced engineering to deliver accuracy, flexibility, speed, and power for a range of applications, including research in oncology and immunology.
Overall, the market for the sequence analysis platform segment is expected to witness significant growth over the forecast period, primarily due to an increase in the utilization of next-generation sequencing.
North America Witnessed the Healthy Growth and is Expected To Follow the Same Trend over the Forecast Period
The North American region is leading the market due to factors such as the rise in the number of research activities pertaining to nucleic acids and genetic engineering, the increase in the budget for novel drug discovery using proteomic and metagenomic approaches, and growing awareness about biological data. The increasing innovations in molecular biology procedures, the high adoption rate of new healthcare technologies, and the high prevalence of genomic and proteomic research studies are the primary drivers for the bioinformatics market in the region.
The United States contributes heavily to the research being conducted in the fields of drug discovery, genomics, and proteomics structure prediction. Various universities and research institutes have received funding from government organizations, like the National Institute of Health (NIH), and private organizations, like Gates and Melinda Foundation, for developing various bioinformatics tools and devices that can handle the bulk amount of data being generated to understand the disease prognosis and treatment options. Since the amount of genomic and proteomic data being generated is high in the United States, there are huge investments to cater to the database development and management of biological data in the country. Moreover, large-scale investments are being made in public and private research for gene therapy and drug development purposes since consumers in the United States are paying more for newer drugs. Due to consumers' shifting preferences for new drugs, research institutes are continuously engaging in novel drug discovery.
In April 2022, ATCC announced an agreement with Qiagen to provide them with sequencing data from its collection of animal and human cell lines and biological materials. Qiagen is expected to establish a database from the information to develop and deliver high-value digital biology content for the biotechnology and pharmaceutical industries, enabling the use of authenticated biological data sets to uncover new disease pathways and discover novel therapeutic targets. Such developments in the United States region are adding to the growth of the studied market.
Hence, owing to the above-mentioned factors, the market is expected to grow exponentially in the North American region.
