Bioinformatics Services Market Size

Bioinformatics Services Market Size

Bioinformatics Services Market size was valued at USD 2.8 billion in 2022 and is anticipated to reach an estimated value of USD 12 billion by 2032 growing at a CAGR of 15.9%. The market is primarily driven by rapid advancements in genomic sequencing technologies. The continuous evolution of high-throughput sequencing platforms results in large genomic data generation.

For instance, recent NGS technology breakthrough, such as the iSeq 100 system by Illumina, combines a complementary metal-oxide semiconductor (CMOS) chip with one-channel SBS to deliver high-accuracy in a short period of time, generating vast amount of data. As a result, there is a growing need for sophisticated bioinformatics services to analyse and interpret this vast amount of genetic information, thereby fostering market share.

Bioinformatics services refer to a range of computational and analytical services that support research and analysis in the field of bioinformatics. Bioinformatics is an interdisciplinary field that combines biology, computer science, and statistics to analyse and interpret biological data, particularly data related to DNA, RNA, and protein sequences. The services play a crucial role in various areas of biology and biomedical research, including genomics, proteomics, structural biology, and more