
Published On: Nov 2022
Published On: Nov 2022
At 15.5% CAGR, the Europe Bioinformatics Market is projected 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.
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.
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