The Artificial Intelligence in Bioinformatics Market Size was valued at USD 3.97 Mn in 2023 and is predicted to reach USD 125.3 Mn by 2033 at a 42.1% CAGR during the forecast period for 2024-2033.
Artificial intelligence (AI) in bioinformatics uses AI tools and techniques for biomedical information analysis and interpretation. Substantial and complicated biological records, including protein frameworks, genome patterns, and other biology-related data, are managed and analyzed in bioinformatics. Government and business sector actions and medicine research and development should accelerate market expansion. Focus on research in drug research and development is made more accessible by bioinformatics, which searches through enormous datasets to find possible targets for therapy. It plays a crucial role in lead optimization, helping to identify the most effective medications by analyzing how they relate to targets in biology.
By refining clinical group choice and utilizing information analysis to enhance examination events, bioinformatics helps to improve clinical trial design. Bioinformatics reduces the possibility of late-stage failures by forecasting drug reactions, negativity, and efficiency. It makes data-based choices possible for pharmaceutical companies, favouring compounds with higher chances of achievement.
However, the AI-based bioinformatics industry is expected to be hindered by the elevated price of programs and offerings in this sector. The AI-based bioinformatics tool is quite complex, requiring high validation and additional growing specifications. Furthermore, genomics equipment is more expensive since they have more sophisticated capabilities and activities. Because research labs and drug companies need many of these systems, they have to invest a lot of resources in buying different genetic equipment. Compact and medium-sized medical companies and research labs cannot afford to invest so much money in several genomics' devices. Therefore, the high price of AI-based technology is anticipated to limit market expansion.
Competitive Landscape
Some of the Major Key Players in the Artificial Intelligence in Bioinformatics Market are
- JADBio
- Gnosis Data Analysis
- Fios Genomics
- SOPHiA GENETICS
- Biomax Informatics Inc.
- DNASTAR
- Ardigen (Parent Company Selvita Group)
- Source BioScience
- QIAGEN
- NeoGenomics Laboratories
- CelbridgeScience
- Eurofins Scientific
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Insilico Medicine
- Strand Life Sciences
- Dassault Systèmes
- iNDX.Ai
- Paige AI, Inc.
- SomaLogic Operating Co., Inc.
Market Segmentation:
Artificial intelligence in bioinformatics is segmented based on offering, type, products and services, application, and sector. Based on the offering, the market is segmented into software, services, and others. The market is segmented based on type into machine learning, deep learning, and others. By product and services, the market is segmented into knowledge management tools, bioinformatics platforms, and bioinformatics services. The market is segmented by application into genomics, microarrays, system biology, text mining, chemoinformatics & drug design, proteomics, transcriptomics, DNA sequencing, metabolomics, and others. By sector, the market is segmented into medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, forensic biotechnology, and others.
Based on the Offering, the Software is Accounted as a Major Contributor to the Artificial Intelligence in Bioinformatics Market
The software segment is expected to hold a significant global market share in 2023 because more businesses are opening up and providing instruments and machines. Bioinformatics software is used more frequently in research investigations due to the benefits of genomics and statistical systems. This encourages investors to devote more to research and development, fueling the segment's expansion.
Proteomics Segment to Witness Growth at a Rapid Rate
The proteomics industry uses the bulk of acrylic acid esters because of increased investments in technology development and the growth of R&D projects. These technologies support large-scale data management and analysis. Additionally, algorithms are employed in databases to manage and oversee material. The proteomics segment is growing due to these various factors, especially in countries like the US, Germany, the U.K., China, and India.
In the Region, the North American Artificial Intelligence in Bioinformatics Market Holds a Significant Revenue Share
The North American artificial intelligence in the bioinformatics market is expected to register the highest market share in revenue in the near future. It can be attributed to this sector has grown more quickly as a result of the growing demand for cutting-edge technologies and medication discovery & creation. In response to the growing demand, businesses and industry participants are implementing a range of tactics, including product introductions, partnerships for acquisitions, and advancements, among others, which are anticipated to accelerate market expansion. In addition, Asia Pacific is projected to grow rapidly in the global artificial intelligence in bioinformatics market due to advancements in the industries of proteins and genetics, which provide vast volumes of data that need to be processed and interpreted. More sophisticated algorithms for bioinformatics are also required, as these are critical to investigating and creating treatments.
Recent Developments:
- In January 2024, Eurofins Scientific is expanding its chlor-alkali electrolysis cell rental service in a European trial run with Nobian GmbH and LOGISTEED Europe B.V. The Nobian company, headquartered in North Rhine-Westphalia, Germany, is one of the most prominent European chlor-alkali1 producers.
- In June 2024, Thermo Fisher Scientific Inc. unveiled the first entirely automated mega-scale plasmid nuclear DNA extraction structure. By offering total automation for both micro and macro expand cleaning and supplying high-purity plasmid without the need for mechanical column organizing or instruction, PlasmidPro facilitates development at growth. This is the newest tool in the Thermo Scientific KingFisher gadget lineup, which provides a variety of plasmid DNA extraction solutions to promote uniformity and productivity.
Artificial Intelligence in Bioinformatics Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.97 Mn |
|
Revenue Forecast In 2033 |
USD 125.3 Mn |
|
Growth Rate CAGR |
CAGR of 42.1% from 2024 to 2033 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2033 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2033 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Application, By Offering, By Product and Services, By Sector and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
JADBio, Gnosis Data Analysis, Fios Genomics, SOPHiA GENETICS, Biomax Informatics Inc., DNASTAR, Ardigen (Parent Company Selvita Group), Source BioScience, QIAGEN, NeoGenomics Laboratories, CelbridgeScience, Eurofins Scientific, Illumina, Inc., Thermo Fisher Scientific, Inc., Insilico Medicine, Strand Life Sciences, Dassault Systèmes, iNDX.Ai, Paige AI, Inc., and SomaLogic Operating Co., Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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