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Bioinformatics is one of the healthcare industry’s most spotlighted and trending topics today. The Bioinformatics market is evolving rapidly and reaching new heights with each passing day, leading to new insights and information into molecular sequence and genomics. Moreover, it makes handling and analyzing genomics data, genome annotation, and expression profiling easier. Several companies, research organizations, and institutes are actively working in the Bioinformatics segment to get a competitive edge and grab market share with new and fruitful products and service delivery.
Bioinformatics makes it more straightforward to analyze complex biological data, particularly large and complicated data sets. Similarly, the advent of new technologies like big data also impacts Bioinformatics growth and development. Big data makes it easier for the technology side to store, retrieve, and analyze relevant data. Owing to growing applications and its rising volume, bioinformatics is one of the core elements of several biomedical research programs. It utilizes mathematical and statistical techniques in silico to analyze massive amounts of data. Similarly, it relies on various news and innovative methodologies to interpret the data and extract new knowledge and valuable insights. The increase in the usage of bioinformatics tools and the growing advancements in the segment are making modern biomedical research easier, faster, and much better.
Bioinformatics – Evolving Dynamics
In simpler terms, Bioinformatics is an interdisciplinary field that deals with developing and deploying methods and software tools to understand biological data, particularly when the data sets are large and complex. The initial use of Bioinformatics is dated back to the 1960s, and over the past 5-6 decades, immense growth has been registered in the segment. However, the analysis and interpretation of genome sequence data, more particularly the human genome project, is still one of the main achievements of bioinformatics to date. It is an interdisciplinary field that harnesses biology, chemistry, physics, computer science, information engineering, mathematics, and statistics. It relies on various computational techniques and is developed to store, organize, and aid in analyzing and interpreting large-scale data obtained from biological systems.
Bioinformatics research and development continuously improved over the years, and today It is being segmented into several areas, such as DNA and protein sequence analysis, macromolecular structure and function analysis, gene expression analysis, proteomics, metabolomics, metagenomics, systems biology, and others. Bioinformatics has a very high potential to understand the functions of the human genome and enhance the capabilities to discover key insights into drug targets and individualized therapy.
Key Applications and Benefits of Bioinformatics in the Healthcare and Medicine Field
Bioinformatics has a vital role in the management of data in modern biology and medicine. Bioinformatics has evolved significantly; apart from the computation of genome sequence data, its role is becoming increasingly diverse in various other domains. Currently, several parallel research and development activities are going on that utilize Bioinformatics to study cell organizations and function, gene variation and expression, 3D structure modeling of proteins and their function, and detection of gene regulation networks. Similarly, several research institutions and healthcare organizations have also undertaken simulation studies that can assist in drug designing, whole-cell modeling, complex gene regulatory dynamics, image analysis, and in-depth investigation into the molecular pathways to study the gene-disease interactions. Knowledge management tools and bioinformatics platforms are the two major products for carrying out vital bioinformatics-related tasks. Similarly, bioinformatics is further segmented into sector types such as medical, animal, and agriculture.
Making a conclusion about gene and protein functions, specifying revolutionary relationships, and predicting the three-dimensional shapes of the proteins is one of the most important applications of Bioinformatics. In protein sequencing, a clear and more specific determination of the amino acid sequence of all or parts of a protein or peptide is carried out. Protein sequencing assists in designating the protein type and its characteristics after post-translational modifications. Similarly, in DNA sequencing, nucleic acid sequence (i.e., the order of nucleotides in the DNA) is determined to obtain a base-by-base view of a gene, exome, or genome. DNA sequencing helps to get genetic information that is carried in a particular DNA segment and can assist in assessing the drug efficacy or adverse effects of drug use.
In medication development, very high-throughput molecular data and its analysis are required. Over the years, Bioinformatics has grown from its simple origins of single-gene sequencing to tremendous biological networks, making it one of the most noteworthy scientific applications in medication design and development. With the help of bioinformatics, it becomes easy to interpret and speed up drug target identification and candidate screening and their further refining. Moreover, it can also help characterize adverse effects and predict drug resistance. The ongoing advancement in Bioinformatics makes it one of the most important tools for drug discovery.
Key Companies in the Bioinformatics Market
Some of the key market players operating in the Bioinformatics market include Agilent Technologies, Biomax Informatics AG, DNANEXUS, Thermo Fisher Scientific, Eurofins Scientific, QIAGEN, Illumina, NeoGenomics Laboratories, Rosalind, Perkin Elmer, GENEWIZ, BGI Corporation, Waters Corporation, DNASTAR, Fios Genomics, Partek Incorporated, SOPHiA Genetics, Source Bioscience, Biomax Informatics, Seven Bridges Genomics, and others.
Several established and startup companies are also expected to enter the Bioinformatics Market in the coming years. Similarly, apart from developed countries, some research and higher education institutions are also working in bioinformatics research and development activities. Similarly, governments worldwide focus on harnessing the potential of Bioinformatics and providing monetary assistance. North America is one of the leading regions in the world that account for the largest share of the global Bioinformatics market. Some of the key factors, such as the growing demand for advanced technologies in Bioinformatics, the higher requirement for personalized medicine in this region, and the launch of new and innovative bioinformatics software, are stimulating the growth of the bioinformatics market growth in the North America region.
Bioinformatics Market Dynamics
As per DelveInsight, the Bioinformatics Market is expected to grow in the coming years due to the increasing demand and advancement in the nucleic acid and protein sequencing segment. Also, the launch of various new bioinformatics platforms that aid in providing better and faster next-generation sequencing test results. The bioinformatics platform can aid in precision drug discovery programs and can assist scientists and clinicians in exploring and analyzing both genomics and clinical data together in a single environment based on a robust, scalable cloud platform. The growth and development of these platforms are expected to propel the Bioinformatics market growth further. Moreover, the introduction of various tools, such as DNAnexus Apollo and DNAnexus Titan by DNANEXUS will also accelerate the process of precision drug discovery. Overall, the growing need for disease management, prevention, and treatment, coupled with developments in bioinformatics, will stimulate the Bioinformatics market growth. However, higher costs associated with the bioinformatics software and services and a dearth of skilled professionals may hamper the Bioinformatics market growth.
Recent Developments in the Bioinformatics Market
- On March 02, 2022, BISC Global, a Bioinformatics, Biostatistics, and ML/AI consulting company is partnering with cropSeq bioinformatics, a company specialized in AgriGenomics consulting, to address the most pressing challenges in data-driven agriculture and plant research.
- In February 2022, Bruker Corporation announced its TIMS DIA-NN software for the high-throughput, deep and unbiased 4D proteomics workflow.
- On March 07, 2022, Arup launched the new bioinformatics platform, Rio, a new world-class bioinformatics pipeline and analytics platform. It amplifies the ARUP’s existing cloud computing capabilities to move data more efficiently and with greater accuracy to speed targeted test results to clinicians for analysis and improved medical decision-making for patients.
Bioinformatics Market – Future Analysis and Perspective
Over the past few years, intense research and development (R&D) activities have been registered in the Bioinformatics Market. The research activities are majorly driven by the heavy investment in bioinformatics by government bodies and private organizations across the globe. Moreover, the rising use of bioinformatics for various applications and the product launch also created a favorable environment for growth. As per DelveInsight, the global Bioinformatics Market was valued at USD 20.12 Billion in 2021, growing at a CAGR of 15.14% during the forecast period from 2022 to 2027; it is anticipated to reach USD 46.88 Billion by 2027.
The ever-evolving growth in genomic technologies is helping to generate an extraordinary amount of information unprecedented in the history of biology. In the coming years, bioinformatics is expected to address several exhaustive needs regarding the data acquisition, storage, analysis, and integration that genomics research generates. Similarly, the cost of genome sequencing is also anticipated to come down, facilitating a variety of bioinformatics tools and, alternatively, will lead to an incessant rise in the speed of genome sequencing. In the long run, the rising demand for both nucleic acid and protein sequencing, the growing need for integrated data, and technological innovation in product development will stimulate the Bioinformatics market growth at an unprecedented rate.