At 16.2% CAGR, the APAC Bioinformatics Market is projected to be worth US$ 7,121.68 million by 2028, says Business Market Insights            

According to Business Market Insights’ research, the APAC bioinformatics market was valued at US$ 2,887.82 million in 2022 and is expected to reach US$ 7,121.68 million by 2028, registering an annual growth rate of 16.2% from 2022 to 2028.  Rising demand for personalized medicine and integration of artificial intelligence (AI) and machine learning in bioinformatics are the critical factors attributed to the market expansion.                       

Personalized medicine is an emerging practice of medicine in which the genetic profile of an individual is used to lead decisions regarding prevention, diagnosis, and treatment of disease. The genetic profile of a patient assists doctors in precisely calculating a patient's susceptibility to specific diseases and allows them to prescribe the patient a proper medication with reduced side effects. In personalized medicine, bioinformatics can be used to explore any possible mutations or gene variants affecting a patient's response to a particular drug/treatment by analyzing the patient's genome sequencing or microarray gene expression. The patient-specific medication is developed through bioinformatics tools. Bioinformatics devices may furnish better conclusions at the genomic level with prior identification of infection and better focus on treatment through improved personalized medicine. Therefore, the rising demand for personalized medicine, especially for rare diseases and cancer, is expected to provide growth opportunities for the bioinformatics market.

On the contrary, lack of interoperability and multiplatform capabilities hurdles the growth of APAC bioinformatics market.    

• Based on product, the APAC bioinformatics market is segmented into knowledge management tools, bioinformatics platforms, and bio informative services. The bioinformatics platforms segment held 46.6% market share in 2022, amassing US$ 1,345.24 million. It is projected to garner US$ 3,364.01 million by 2028 to expand at 16.5% CAGR during 2022–2028.  
• Based on application, the APAC bioinformatics market is segmented into genomics, chemo informatics and drug design, proteomics, transcriptomics, metabolomics, and others.  The genomics segment held 27.7% market share in 2022, amassing US$ 798.64 million. It is projected to garner US$ 1,992.39 million by 2028 to expand at 16.5% CAGR during 2022–2028.    
• Based on sector, the APAC bioinformatics market is segmented into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology, and others. The medical biotechnology segment held 26.4% market share in 2022, amassing US$ 762.18 million. It is projected to garner US$ 1,960.42 million by 2028 to expand at 17.1% CAGR during 2022–2028.  
• Based on country, the APAC bioinformatics market has been categorized into China, India, Japan, South Korea, Australia, and rest of APAC.  Our regional analysis states that China captured 27.4% market share in 2022. It was assessed at US$ 791.15 million in 2022 and is likely to hit US$ 1,987.13 million by 2028, exhibiting a CAGR of 16.6% during the forecast period.           

Key players dominating the APAC bioinformatics market are Agilent Technologies, Inc.; Bruker Corporation; Dassault Systèmes; Eurofins Scientific; Illumina, Inc.; PerkinElmer Inc.; QIAGEN; and Thermo Fisher Scientific Inc. among others. 

In May 2022, Bruker Corporation and TOFWERK AG today announced a strategic partnership for high-speed, ultra-sensitive applied and industrial analytical solutions, in conjunction with a Bruker minority investment in TOFWERK. The partnership provides a basis for technology collaborations to advance instrument capabilities and for the development of novel analytical applications where high speed and ultra-sensitivity matter.

• In Feb 2021, Thermo Fisher Scientific Inc. announced it has acquired cell sorting technology assets from Propel Labs, a wholly owned subsidiary of SIDIS Corp. Under the terms of the agreement, the recently introduced Bigfoot Spectral Cell Sorter and approximately 40 employees will become part of Thermo Fisher's Biosciences business. Propel Labs will continue to operate as a separate entity and serve its existing customers.

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