US Bioinformatics Market Share Projected to Reach USD 21.2 Billion by 2030, Driven by Precision Medicine and Genomic Advancements

The US Bioinformatics Market Share, worth USD 8.4 billion in 2023, is set to expand at a CAGR of 14.13%, resulting in approximately USD 21.2 billion by 2030. The driving force behind this strong growth is the ever-increasing precision medicine adoption and improvements in genomic technologies.



Market Growth Drivers & Opportunities

The availability of technology to personalize healthcare and better meet the needs of patients has led to increasing demand for tools from bioinformatics since researchers seek increasingly to analyze individual genetic make-up to lead to similar tailored medical interventions. Genomic technologies, including next-generation sequencing (NGS) and others, have become quite well accessible to research and clinical applications by reducing the cost and time required for genetic analysis. Use of AI and machine learning algorithms integration in bioinformatics, improve the capability to analyse complex data, quickly recognise new biomarkers, and streamline drug development processes. The biological data are increasing at a much faster rate which requires more and more bioinformatics solutions to manage, store, and analyze the biological data efficiently fuelling the market growth.

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Segmentation Analysis

Market segmentation of the US bioinformatics market has been done with the below mentioned parameters:

On the basis of Product & Services, it covers Bioinformatics platforms, Knowledge Management Tools, Bioinformatics services. Bioinformatics platforms enable the analysis and interpretation of the data, knowledge management tools help in the storage and retrieval of data, while services encompass consulting and tailored data analysis.

Based on the application: Application of bioinformatics include genomics, chemoinformatics and drug design, proteomics, transcriptomics, metabolomics, etc. This explains the larger portion of genomic segment on the account of rising inclination towards genomic research as well as personalized medicine.

Having Segmentation by End Use: This includes sectors such as medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology, among others. Over the years, the market has bloomed with various applications; however, the medical biotechnology segmentx has led the market owing to the adoption of bioinformatics in drug discovery and development processes.

Country Level-Scholes: United States Of America

North America, being home to a comprehensive healthcare infrastructure, large research funding, and a few major market players, retains the top share in the global bioinformatics market. The increasing focus on large-scale genomic and precision medicine initiatives in the country is fuelling demand for bioinformatics tools. And partnerships between academic institutions and biotechnology companies strengthen both the research activities and the potential for success in the market.

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Competitor Analysis

The following companies are prominent in the US bioinformatics market:

Illumina, Inc. is one of the leading companies in sequencing and array-based solutions, which provides integrated systems for the analysis of genetic variation and function. Its flagship platforms like NovaSeq and NextSeq, are heavily used in genomic research.

Thermo Fisher scientific offers an extensive portfolio of bioinformatics tools and services to support genomics, proteomics and other applications. Notably, the company also has Ion Torrent sequencing tech in the game.

PerkinElmer: Focused on analytical instruments and diagnostics, PerkinElmer provides bioinformatics capabilities that help with automated data analysis in genomics and other life science areas.

Agilent Technologies supplies software and services for bioinformatics, to accelerate data interpretation and management in genomics, proteomics and metabolomics research.

QIAGEN: A bioinformatics platform with applications in research and clinical diagnostics that helps analyze and interpret complex biological data.

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Conclusion

The US bioinformatics market can reach at least USD 11 billion in 2023-based on the growing usage of precision medicine and developments in genomic technologies, as well as the increasing adoption of AI for data analysis. The unprecedented increase in biological data will drive innovation and development of more complex bioinformatics solutions. Industry analysts are currently upgrading their offerings with the help of collaborations and technological advancements in order to prudently cater to the requirements of the healthcare and research sectors.

Explore More: Visit our website for Additional reports:

Bioinformatics Market https://www.maximizemarketresearch.com/market-report/bioinformatics-market/207971/ 

Bioinformatics Services Market https://www.maximizemarketresearch.com/market-report/global-bioinformatics-services-market/6608/ 

Bioengineering Technology Market https://www.maximizemarketresearch.com/market-report/bioengineering-technology-market/210041/ 

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