Single Cell Bioinformatics Software and Services Market

Market Overview

The global single cell bioinformatics software and services market size was valued at USD 228.00 million in 2021. It is projected to reach USD 583.32 million by 2030, growing at a CAGR of 11% during the forecast period (2022–2030).

 Bioinformatics is a hybrid science or multidisciplinary study that creates software and methods for analyzing biological data. It connects biological data to systems for information storage, distribution, and analysis to facilitate scientific study, particularly biomedicine. The market for single-cell bioinformatics software and services is still in its infancy.

Significant increases in research and development activities relevant to single-cell analysis are underway to build single-cell bioinformatics software and services-based products. The data is utilized to obtain information applicable to gene-based drug discovery and development, protein structural investigations, and determining the therapeutic efficacy of medications. Bioinformatics services include data integration, manipulation, lead finding, data management, in silico analysis, and businesses utilizing enhanced knowledge discovery in several industries.

Market Dynamics

Market Driving Factors

Increasing Demand for Nucleic Acid and Protein Sequencing to Favor Market Growth

The rapidly expanding fields of proteomics and genomics are the primary contributors to expanding the global bioinformatics market. This development results from the rising demand for comprehensive research into proteins, protein sequencing, and nucleic acid. The field of bioinformatics is becoming increasingly significant because the massive amounts of data sequencing require interpretation and administration for the sake of current and future medical research. As a result, the bioinformatics market is anticipated to be driven by the growing demand during the estimated period covered.

Launch of Highly Sophisticated Bioinformatics Software to Foster Market Growth

The market is expected to be driven by the introduction of technologically advanced bioinformatics software such as BALL, Bioclipse, RasMol, and AUTODOCK. The increasing market adoption of these tools for effective and accurate analysis of biomarker discovery programs that aid toxicity detection during the early stages of drug development is expected to drive industry growth during the forecast period. Furthermore, the demand for computational epigenetics, microarray data meta-analysis, differentially expressed genes, gene networks, systems biology requirements, and gene-associating research, among other things, has significantly impacted the growth of the bioinformatics market.

Market Restraining Factors

Analytical Difficulties in Metabolic Analysis to Hinder Market Growth

Root exudation is a complex process that involves the release of a diverse variety of chemical substances. Analytical problems can be found at any process stage, including sampling, analysis, and data treatment. These problems can be solved if new methods and future developments in analytical chemistry and computational tools are used. However, there are not enough user-friendly tools available with well-defined standards of common data formats for integrating data and concerns about the data's complexity. These factors are projected to slow the growth of the industry.

Key Market Opportunities

Growing Investments by Biopharmaceutical Firms to Spur Market Opportunities

Several industries, such as food, bioremediation, agriculture, forensics, and consumer goods, utilize bioinformatics services to enhance the quality of their products and supply chain processes. Bioinformatics services include data integration, manipulation, lead finding, data management, in silico analysis, and businesses utilizing enhanced knowledge discovery in several industries. This expansion of bioinformatics services' application areas is anticipated to generate new revenue streams for market participants, leading to a rise in the use of these services. Pharmaceutical companies can save money by outsourcing data administration and analytics. This factor will hasten the growth of the bioinformatics market. In addition, expanding bioinformatics usage in research centers and laboratories, higher research funding, pharmaceutical companies' growing reliance on bioinformatics, and high capital expenditures all contribute to the expansion of the bioinformatics services industry.

Regional Analysis

The global single cell bioinformatics software and services market is divided into North America, Europe, Asia-Pacific, and LAMEA.

North America will maintain its leading position in the global bioinformatics market during the forecast period. The growing demand for bioinformatics in genomics and proteomics research, market players, and research institutes in this region all contribute to the growth of this market. The growth of the bioinformatics market in North America is fueled by government support for genomic research, the presence of top bioinformatics providers, decreased sequencing costs and increased awareness of bioinformatics services. Government reimbursement programs for genomic testing are becoming more prevalent in this region, and funding opportunities for bioinformatics-related research projects are favorable. Additionally, this market is characterized by a favorable funding scenario for research activities using bioinformatics technologies.

Segmental Analysis

The global single cell bioinformatics software and services market is segmented into products, applications, and end-user.

On the Basis of Products

Based on products, the market is segmented into bioinformatics services and software.

The bioinformatics services sector is anticipated to dominate the global single-cell bioinformatics software and services market during the forecast period. Creative Proteomics provides a comprehensive range of bioinformatics services for analyzing and interpreting data generated by advanced proteomics and metabolomics technologies.

On the Basis of Applications

Based on applications, the market is segmented into oncology, immunology, neurology, noninvasive prenatal diagnosis (NIPD), and microbiology.

The oncology segment dominates the global single-cell bioinformatics software and services market due to the growing number of cancer patients. Due to a more robust regulatory environment, highly reproducible, and robust operations, appropriate bioinformatics approaches for managing, integrating, and analyzing data sets are required. According to the World Health Organization figures, cancer is the top cause of death, accounting for approximately 10 million documented cases.

On the Basis of End-User

Based on end-user, the market is segmented into research, academic institutes, and biopharmaceutical companies.

The research and academic institutes segment currently hold the largest share of the global single-cell bioinformatics software and services market. This is because of the growing number of research and development activities in academic institutes and researchers' attention to single-cell analysis.

Recent Developments

• June 2022- Illumina to showcase the transformational impact of comprehensive genomic profiling in unlocking precision medicine for cancer patients at ASCO.
• May 2022- QIAGEN launches Thera screen EGFR Plus RGQ PCR Kit featuring C797S detection to help guide non-small cell lung cancer (NSCLC) treatment.
• June 2022- CerTest Biotic and BD Announce Collaboration on Molecular Diagnostic Test for Monkeypox.
• April 2022- PacBio release capability for access to epigenome workflows.