Bioinformatics is an interdisciplinary field of science that develops methods and software tools for understanding biological data, especially when data sets are large and complex. Bioinformatics uses biology, chemistry, physics, computer science, computer programming, information engineering, mathematics, and statistics to analyze and interpret biological data. The subsequent process of analyzing and interpreting data is referred to as computational biology. The first definition of the term bioinformatics was coined by Paulien Hogweg and Ben Hesper in 1970, to refer to the study of information processes in biotic systems. Bioinformatics and computational biology involve the analysis of biological data, particularly DNA, RNA, and protein sequences. The field of bioinformatics experienced explosive growth starting in the mid-1990s, driven largely by the Human genome project and by rapid advances in DNA sequencing technology.
Image and signal processing allow the extraction of useful results from large amounts of raw data. In the field of genetics, it aids in sequencing and annotating genomes and their observed mutations. Bioinformatics includes text mining of biological literature and the development of biological and gene ontologies to organize and query biological data. It also plays a role in the analysis of gene and protein expression and regulation. Bioinformatics tools aid in comparing, analyzing, and interpreting genetic and genomic data and more generally in the understanding of evolutionary aspects of molecular biology. Software tools for bioinformatics include simple command-line tools, more complex graphical programs, and standalone web services. They are made by bioinformatics companies or by public institutions.
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Global Bioinformatics Market – Competitive Landscape
On October 25, 2023, Two Bear Capital expands its Silicon Valley Team as VC Firm pursues new opportunities in Biotechnology, Bioinformatics, Healthcare IT, Machine Learning, and AI. On November 3, 2022, Arima Genomics announced a new partnership with Basepair to accelerate bioinformatics analysis of 3D genomics data. On May 30, 2022, MedGenome raised USD 50 million to expand its global footprint. On September 28, 2021, Federated Genomics data startup Lifebit raised a USD 60 million round led by Tiger Global. On October 8, 2020, Walther Cancer Foundation Invested USD 11 million to expand the IU-Purdue bioinformatics collaboration.
Some of the Key Players in the Global Bioinformatics Market Include –
- InSyBio
- ECOSOPH
- I-Ab
- BiomeSense
- ai
- OSbiome
- FlowIntell
- Regeneration Health
- BatchX Inc
- Biomage
Global Bioinformatics Market – Growth Drivers
The rising volume of genomic data from various research activities, including DNA sequencing and gene expression studies, is a key driver for the growth of the global bioinformatics market. According to National Human Genome Research, about 220 million genomes (40 Exabytes) are produced per year. That genomics research will generate between 2 and 40 exabytes of data within the next decade. Continuous improvement in NGS technologies contributes to the growth by enabling faster and more cost-effective sequencing, driving demand for advanced bioinformatics tools to analyze complex genomic data. The growing emphasis on personalized medicine, driven by advancements in understanding individual genetic variations, boosts the demand for bioinformatics tools to interpret and apply genomic information for tailored medical treatments. Bioinformatics plays a crucial role in accelerating drug discovery and development processes by analyzing biological data and drug interactions and optimizing therapeutic outcomes. The healthcare industry’s increasing reliance on big data analytics for insights into disease patterns, patient outcomes, and treatment effectiveness drives the demand for bioinformatics solutions capable of handling and interpreting large-scale biological datasets. Collaboration between bioinformatics companies, pharmaceutical firms, and research institutions fosters innovation and drives market growth by combining expertise in bioinformatics with domain-specific knowledge. Integrating bioinformatics tools with cloud computing facilities efficient data storage processing, and collaboration, offering scalability and accessibility that contribute to the market’s expansion.
Global Bioinformatics Market – Restraints
The increasing volume of sensitive biological and genomic data raises concerns about data security and privacy, posing a significant restraint to the widespread adoption of bioinformatics solutions. According to the National Center for Biotechnology Information (NCBI), the volume of genomic data by YouTube has currently 300 hours of video being uploaded every minute ( 1-2 exabytes of video data per year) By 2025, Twitter will generate 500 million tweets/day each about 3 kilobyte. The absence of standardized formats for genomic data and analysis methods hampers interoperability among different bioinformatics platforms, leading to challenges in data integration and collaboration. The initial investment and ongoing costs associated with implementing and maintaining bioinformatics infrastructure, including computational resources and skilled personnel, can be a barrier for smaller research institutions and companies. The complex nature of bioinformatics requires skilled professionals, and there is a shortage of trained personnel, leading to a talent gap that can impede the effective utilization of bioinformatics tools and technologies. The complexity of biological data, especially in fields like system biology, creates bottlenecks in data analysis, requiring sophisticated algorithms and computational resources that may not be readily available or accessible.
Global Bioinformatics Market – Opportunities
The increasing focus on personalized medicine creates opportunities for bioinformatics to play a pivotal role in tailoring treatments based on individual genetic profiles, driving demand for advanced analysis tools and interpretation services. Bioinformatics offers opportunities for enhanced diagnostic capabilities, such as biomarker discovery and disease prediction, contributing to the growth of bioinformatics applications in clinical settings. Integrating AI and ML technologies in bioinformatics provides opportunities for more efficient data analysis, pattern recognition, and accuracy and speed of genomic data interpretation. Bioinformatics enables the identification of potential drug targets and the repurposing of existing drugs, presenting opportunities to accelerate drug development processes and reduce costs.
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Global Bioinformatics Market – Geographical Insight
The market for global bioinformatics market is segmented into the regions such as North America, Latin America, Europe, Asia-Pacific, the Middle East, & Africa. North America is the largest market for bioinformatics due to renowned academic and research institutions actively engaged in genomics and bioinformatics, fostering innovation and technological advancements. Europe is a key player market for bioinformatics due to growing research collaborations, especially in the fields of genomics, personalized medicine, and drug discovery. Asia-Pacific is a rapidly expanding market for bioinformatics due to increasing investments in life sciences research, rising awareness of genomics, and a growing emphasis on precision medicine.
Global Bioinformatics Market – Key Development
- On November 3, 2023, Allelica Launched the Allelica precision server, an on-premises solution for clinical bioinformatics analyses.
- On October 31, 2023, Lonpath launched MIBIplus and MIBIsight, a new service offering and user-friendly bioinformatics tools, at SITC 2023.
- On July 28, 2023, FOXO Technologies Launched bioinformatics services and hopes to revolutionize epigenetic data.
- On April 14, 2023, IP University launched courses in Bioinformatics.
- On April 3, 2023, Africa CDC launched a pathogen genomics and bioinformatics fellowship program.
- On September 21, 2022, BioBam released OmicsBox 2.2, the latest bioinformatics software solution.