Report : Europe Bioinformatics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Knowledge Management Tools, Bioinformatics Platforms, and Bio Informative Services), Application (Genomics, Chemo Informatics and Drug Design, Proteomics, Transcriptomics, Metabolomics, and Others), and Sector (Medical Biotechnology, Academics, Animal Biotechnology, Agricultural Biotechnology, Environmental Biotechnology, Forensic Biotechnology, and Others)
At 15.5% CAGR, the Europe Bioinformatics Market is speculated to be worth US$ 8,615.56 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe bioinformatics market was valued at US$ 3,626.93 million in 2022 and is expected to reach US$ 8,615.56 million by 2028, registering an annual growth rate of 15.5% from 2022 to 2028. Increased number of genomic research activities with corresponding adoption of bioinformatics and increasing funding and investments in bioinformatics are the critical factors attributed to the market expansion.
In the field of genetics and genomics, the bioinformatics aids in sequencing and annotating genomes. Bioinformatics plays a role in the analysis of gene and protein expression and regulation. Bioinformatics tools aid in the comparison of genetic and genomic data and more generally in the understanding of evolutionary aspects of molecular biology. The role of human genomics research and related biotechnologies has the potential to achieve several public health goals, such as to reduce health inequalities by providing countries with efficient, cost-effective, and robust means of preventing, diagnosing, and treating major diseases that burden their populations. Currently, cancer treatment is also set to gain from genomic information to predict how an individual responds to drugs and inform prescription of the appropriate drug or dosage. The initiatives to generate and collect human genomic data is evolving rapidly and is highly diverse, with private and public initiatives across multiple countries. The increasing number of genomics activities along with rising adoption of bioinformatics is driving the market across the region.
On the contrary, lack of interoperability and multiplatform capabilities hurdles the growth of Europe bioinformatics market.
- Based on product, the Europe bioinformatics market is segmented into knowledge management tools, bioinformatics platforms, and bio informative services. The bioinformatics platforms segment held 49.2% market share in 2022, amassing US$ 1,782.64 million. It is projected to garner US$ 4,278.89 million by 2028 to expand at 15.7% CAGR during 2022–2028.
- Based on application, the Europe bioinformatics market is segmented into genomics, chemo informatics and drug design, proteomics, transcriptomics, metabolomics, and others. The genomics segment held 28.3% market share in 2022, amassing US$ 1,024.93 million. It is projected to garner US$ 2,457.48 million by 2028 to expand at 15.7% CAGR during 2022–2028.
- Based on sector, the Europe bioinformatics market is segmented into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology, and others. The medical biotechnology segment held 27.3% market share in 2022, amassing US$ 989.93 million. It is projected to garner US$ 2,448.38 million by 2028 to expand at 16.3% CAGR during 2022–2028.
- Based on country, the Europe bioinformatics market has been categorized into the UK, Germany, France, Italy, Spain, and rest of Europe. Our regional analysis states that Germany captured 26.6% market share in 2022. It was assessed at US$ 963.10 million in 2022 and is likely to hit US$ 2,311.82 million by 2028, exhibiting a CAGR of 15.7% during the forecast period.
Key players dominating the Europe bioinformatics market are Agilent Technologies, Inc.; Biomax Informatics AG; Bruker Corporation; Dassault Systèmes; Eurofins Scientific; Genebio; Illumina, Inc.; PerkinElmer Inc.; QIAGEN; and Thermo Fisher Scientific Inc. among others.
- In April 2021, Agilent Technologies, Inc. announced that it has completed the acquisition of Resolution Bioscience, a leader in the development and commercialization of next-generation sequencing (NGS)-based precision oncology solutions.
- In May 2022, QIAGEN N.V. announced that it has signed agreements to acquire a 96% majority ownership stake in BLIRT S.A., a manufacturer of recombinant enzymes for the life science industry based in Gdansk, Poland. BLIRT develops, manufactures, and commercializes standardized and customized solutions for proteins and enzymes as well as molecular biology reagents.
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