Report : South America 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 15.0% CAGR, the SAM Bioinformatics Market is speculated to be worth US$ 1,982.28 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM bioinformatics market was valued at US$ 859.12 million in 2022 and is expected to reach US$ 1,982.28 million by 2028, registering an annual growth rate of 15.0% from 2022 to 2028. Integration of artificial intelligence (AI) and machine learning in bioinformatics and rising demand for personalized medicine are the critical factors attributed to the market expansion.
Bioinformatics and AI are playing critical roles in changing and advancing the healthcare industry. In the context of bioinformatics, AI can be used to promote clinical research and analysis that can result in the design of new drugs and vaccines, the diagnosis of diseases, and even the prediction of pandemics. One example of how AI can be used in conjunction with bioinformatics is wearable tech. Consumers are already familiar with many types of wearable techs, such as fitness trackers and watches, and make personal use of the data they collect. The wearable tech provides real-time data over a period and can help track trends and identify signs of potentially fatal health issues, such as heart disease, much quicker and more accurately than spot tests conducted in laboratories. Also, genome sequencing plays a pivotal role in medical diagnostics. Machine learning empowered DNA sequencing techniques such as next-generation sequencing has made it possible for researchers to sequence human genomes within a day compared to the traditional sanger sequencing technology, which took over a decade to sequence a human genome. The integration of AI and machine learning in bioinformatics is showing the current trend in bioinformatics market.
On the contrary, lack of interoperability and multiplatform capabilities hurdles the growth of SAM bioinformatics market.
- Based on product, the SAM bioinformatics market is segmented into knowledge management tools, bioinformatics platforms, and bio informative services. The bioinformatics platforms segment held 48.8% market share in 2022, amassing US$ 419.63 million. It is projected to garner US$ 978.36 million by 2028 to expand at 15.2% CAGR during 2022–2028.
- Based on application, the SAM bioinformatics market is segmented into genomics, chemo informatics and drug design, proteomics, transcriptomics, metabolomics, and others. The genomics segment held 28.0% market share in 2022, amassing US$ 240.85 million. It is projected to garner US$ 560.76 million by 2028 to expand at 15.1% CAGR during 2022–2028.
- Based on sector, the SAM bioinformatics market is segmented into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology, and others. The medical biotechnology segment held 27.4% market share in 2022, amassing US$ 235.56 million. It is projected to garner US$ 565.94 million by 2028 to expand at 15.7% CAGR during 2022–2028.
- Based on country, the SAM bioinformatics market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 58.7% market share in 2022. It was assessed at US$ 504.55 million in 2022 and is likely to hit US$ 1,173.13 million by 2028, exhibiting a CAGR of 15.1% during the forecast period.
Key players dominating the SAM 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 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.
- 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.
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