Bioinformatics Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Data Analysis, Sequencing Services, Drug Discovery Services, Gene Expression Analysis, Database and Management Services, Others); Specialty (Medical Biotechnology, Plant Biotechnology, Animal Biotechnology, Forensic Biotechnology, Environmental Biotechnology); Application (Clinical Diagnostics, Drug Development, Research Application, Others); End User (Hospitals , Pharmaceutical and Biotechnology Companies, Academic Institutes and Research Centers, Diagnostics Laboratories) and Geography
Bioinformatics is the analysis of biological data and the development of methods and software tools to better understand it. Bioinformatics is utilised in biological applications such as genomics, drug development, structural biology research, and biomedical imaging, among others. Bioinformatics is also utilised to organise and retrieve data, as well as advanced analytical tools to analyze different experimental parameters. The way scientists and investigators in the biological sciences conduct research and solve problems is changing owing to these tools and services. Today bioinformatics have numerous applications in healthacare industry.
The "Global Bioinformatics Services Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the bioinformatics services market with detailed market segmentation by type, specialty, application and end user. The report provides key statistics on the market status of the leading bioinformatics services market players and offers key trends and opportunities in the market.
Based on type the market is segmented as, data analysis, sequencing services, drug discovery services, gene expression analysis, database and management services, and others.
Based on specialty the market is segmented as, medical biotechnology, plant biotechnology, animal biotechnology, forensic biotechnology, and environmental biotechnology.
Based on application the market is segmented as, clinical diagnostics, drug development, research application, and others.
Based on end user the market is segmented as, hospitals and clinics, pharmaceutical and biotechnology companies, academic institutes and research centers, and diagnostics laboratories.
MARKET DYNAMICS Drivers:
Rising public-private sector funding for bioinformatics services is the key driving factor for the market growth.
Increasing applications and adoption of bioinformatics in various verticals is expected to spur the market growth.
Dearth of skilled bioinformatics professionals result to increased outsourcing of bioinformatics services is expected to provide growth opportunities for the market.
Increasing R&D expenditures by biopharmaceutical and pharmaceutical industries.
However, requirement of high budget for the bioinformatics services are likely to restrain market growth during the forecast period.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The bioinformatics services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the bioinformatics services market in these regions.
IMPACT OF COVID-19 ON BIOINFORMATICS SERVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report covers key developments in the bioinformatics services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from bioinformatics services market are anticipated to lucrative growth opportunities in the future with the rising demand for bioinformatics services in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bioinformatics services market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Thermo Fisher Scientific Inc.
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