In the last few years, the pace of advancement in genomics, molecular research, and Information technology improvements have led to the generation of a tremendous amount of information in molecular biology. The primary objective of bioinformatics is to improve the knowledge of biological processes by using computer science, computer programming, software engineering, mathematics, and statistics. In bioinformatics, the important function is to examine biological information and devise new diagnostic and drug methodologies for the effective treatment of the patients. Some of the main bioinformatics research areas include gene sequence analysis, genome annotation and gene & protein expression analysis, cancer mutation analysis, prediction of the protein structure and comparative genomics. Genomics is the main technological section in bioinformatics, where genes and single nucleotide polymorphisms are established to generate a biological database.
Bioinformatics was one of the first successful publication of the human genome project developed by the government of the U.S. in 1990. The human genome project gave rise to a new field of genomics, which provides researchers ample opportunities to apply new knowledge, technologies, and approaches in healthcare. It was the first computational model in the field of molecular biology, which resulted in the development of computational biology and bioinformatics. For the record, bioinformatics is a study on how the normal cellular activities are altered in different disease states at a molecular level, which is further boosting the need for the development of a comprehensive molecular database. Following are some of the recent trends in bioinformatics market,
Currently, researchers in the field of bioinformatics are shifting their focus from genomics to proteomics owning to the recent advancements in protein database-related activities, which shows that in the majority of disease cases—such as tuberculosis, cancer, malaria, and immune rejection after transplantation—protein molecules are responsible for triggering abnormal molecular signals. Proteomics has identified several proteins that offer diagnostic and prognostic markers that are responsible for the pathophysiology of the disease. To attend to the situation, the market players are engaging in mergers and collaboration to develop optimum solutions. For instance, in March 2019, Ambrx Inc. signed a R&D collaboration with BeiGene, Ltd., a commercial pharmaceutical company involved in the development of immuno-oncology drugs.
The perspective of molecular medicine emphasizes cellular and molecular phenomena and interventions of medicinal drugs to treat a number of diseases. Similarly, network medicine is a new paradigm, which provides a better understanding of the pathogenic actions of complex molecular interconnections that traditional methods fail to recognize. It uses biological networks, such as protein-protein interactions and metabolic pathways. The metabolic network comprises the metabolic pathways of biochemical reactions. Other networks include cell signaling, gene-regulating networks, and networks for RNA.
Immense biological data has been generated with the advancing discoveries, which need to be processed. Bioinformatics uses different computational tools to study and analyze biological system information, starting at the molecular level. The new trend of database designing involves the organization of data according to a database model in order to retrieve it effectively as and when required. Data designing has advantages of retrieving all relevant information in a single query document. In the case of healthcare database models, the medical records include all patient information in a central repository, records of laboratory results, records of medication, hospital procedures, insurance reconciliation, and billing records.
Biomedical Informatics (BMI) is the emerging discipline intended to create a common conceptual knowledge programmer for further discovery of new diagnostic and therapeutic methods in the rapidly evolving genomic medicine landscape. In recognition of the dynamic nature of BMI, organizations like the European Commission have initiated many projects to promote a research agenda, such as the BIOINFOMED project. Similarly, the American Medical Informatics Association has organized various sessions to increase awareness about biomedical informatics. Its distinctive nature enlarges some of the classic gaps between clinical and molecular knowledge. Moreover, the medical informatics are applying cognitive reasoning and empirically justified decision support systems for the development of healthcare BMI applications, such as e-MERGE (Electronic Medical Records and Genomics) to develop, disseminate, and implement research approaches that combine DNA biobank along with electronic medical record (EMR) systems for large-scale and high-throughput genetic research.
Bioinformatics is increasingly used for identifying genes in DNA sequences. The information collected is then used to understand the molecular mechanisms of diseases, which assist in developing better treatments and diagnostic tests. Several scientific research institutes and biotech companies have initiated projects to conduct sequencing studies at their own facilities because of significant cost reductions in sequencing.
Globally, over 90% of the drugs fail to enter in the market due to clinical trial failure. To bring a new drug in the market is expensive, which is further boosting the demand for bioinformatics.
Rising demand for integrated data solutions to handle huge amounts of data produced from high-performance sequencing and related technologies is subsequently driving the market growth.
The bioinformatics market is gradually becoming a service-driven approach and it is positioned to achieve its maximum potential in the years to come. The outsourced bioinformatics offers various services, including protein sequence analysis, pathway analysis, biomarker analysis, proteomics service, and others, which is further boosting the market growth.
Global Bioinformatics Market is segmented on the basis of industry, product type, applications, and services offered
By industry, the bioinformatics market is segmented into drug development, molecular medicine, gene therapy, clinical diagnostics, agriculture, forensic, academics & research, environmental, and others. The academic sector is expected to register the fastest growth due to its increasing demand by the universities for a number of ongoing research projects associated with bioinformatics applications.
By product type, the market is segmented into sequencing platforms, knowledge management tools, bioinformatics software, and others.
By application, the bioinformatics market is further classified into preventive medicine, molecular medicine, genomics, drug development, proteomics, and others. The genomics segment is grabbing the highest shares in the bioinformatics market and will continue the same during the forecast period. This can be attributed to the increasing use of bimolecular in sequencing applications. The proteomics segment is expected to grow at a relatively faster rate due to increasing number of research projects and surging use of bioinformatics techniques for the implementation of technological advances for the study of protein characterization.
By services offered, the market is segmented into data analysis, sequencing, database integration, and others. The database integration segment is grabbing the highest share in the market due to the rising demand for integrated data solutions for handling enormous amounts of data produced from high-performance sequencing.
North America is dominating the bioinformatics market and will continue the same during the forecast period. The U.S. is one of the leading contributors in terms of revenue. This can be attributed to the favorable environment created by the government organizations for the development of bioinformatics and computational biology and the ongoing R&D activities performed by the major pharmaceutical market players. The U.S. federal government is also providing funds for performing extensive R&D activities in the field of bioinformatics, which is further boosting the market growth.
In Europe, the growth of the bioinformatics market is primarily driven by the rising technological developments in the field of genomics. Additionally, the government institutions in the region are arduously working to accelerate the growth in the field of bioinformatics and are developing various projects for the same. Some of the major biopharmaceutical industries have also entered in the field and are heavily investing in drug discoveries (based on bioinformatics modeling) and in clinical diagnostic research. For instance, in August 2018, the Department of Biotechnology of the Indian government and the European Union proposed around USD 18 million for computational biology and bioinformatics research.
Asia Pacific is the fastest growing bioinformatics market owning to improved health care infrastructure coupled with development initiatives taken by the healthcare industries operating in the region. The region is housing the largest pool of patients suffering from infectious diseases, which is further boosting the market growth. Apart from this, the bioinformatics outsourcing services, such as data analytics and database designing, are gaining momentum, particularly in South Asian countries, which can be attributed to the presence of a large and trained talent pool of researchers and engineers coupled with robust computational infrastructure in the region. Other factors driving the market growth include favorable government initiatives and growing partnerships between foreign biologists, bioinformatics, and local scientists.
South American bioinformatics market displays lucrative growth potential, which is driven by the rising number of training and development programs on the use of bioinformatics and the increasing use of bioinformatics in the field of bioinformatics in life sciences by industrial and academic researchers. For instance, the Brazilian Association of Bioinformatics and Computational Biology are working to communicate with different territories and various specialists in the field of bioinformatics and application of software engineering in life sciences, pharmaceutical, agronomy. The ongoing academic collaborations to facilitate the adoption of bioinformatics in life sciences research is boosting the market growth.
The Middle East and Africa Bioinformatics market is majorly driven by the growing need for integrated bioinformatics systems in proteomics and genomics, increasing demand for the customized medicine rising affordability, adoption of new technology, increasing use of bioinformatics in drug discovery and clinical diagnostics, shifting preference towards precision medicine, growing number of partnerships between research organizations and companies, and rising government support. However, lack of skilled workers, high costs, lack of user-friendly tools, and lack of interoperability are impeding the market to some extent. In Africa, the rising prevalence of HIV, malaria, and tuberculosis is subsequently increasing the demand for bioinformatics.
The key players striving for the bioinformatics market share are Biomax Informatics AG, Qiagen, Dassault Sytemes, Illumina, Applied Biologicals Materials, Agilent Technologies Inc, Active Motif, PerkinElmer Inc, Biovia Corporations, Quest diagnostics, Bruker Corporation, Life technology, and Geneva bioinformatics.
The market for global bioinformatics is highly fragmented, with different market players operating in local regions. Some of the key players are engaging in acquisitions, collaborations, and partnerships to gain a competitive edge.