The Global Bioinformatics Platforms Market is estimated to be valued at US$ 194.1 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Bioinformatics Platforms are Canon Inc., Zebra Technologies Corporation, Hewlett-Packard (HP) Inc., Epson America, Inc., BIXOLON. These players are focusing on developing advanced platforms and solutions to gain competitive advantage in the market. For instance, in 2023, Canon Inc. launched an artificial intelligence-based bioinformatics platform with improved data analytics and interpretation capabilities.
The growing volume of biological data generated from omics research and clinical studies has increased the demand for effective Bioinformatics Platforms Market Size in recent years. Additionally, increasing investments by pharmaceutical companies and research institutes in computational biology and bioinformatics is further propelling the market growth.
Several leading software players are focusing on geographical expansion and collaborations to capitalize on opportunities in emerging markets. North America dominated the global market in 2024, however rapid digitization of healthcare in APAC is expected to offer lucrative growth opportunities for bioinformatics platforms providers over the forecast period.
Market Drivers
The increasing adoption of digitalization and advanced technologies in healthcare sector is a key market driver. Bioinformatics platforms help healthcare providers to streamline clinical workflows, improve patient outcomes and reduce costs by enabling tasks like predictive analysis, genetic testing and clinical decision support. Additionally, growing need for analysis of massive and complex biological data generated during drug discovery and genomic research is propelling the demand for user-friendly and scalable bioinformatics solutions. Government initiatives to promote precision medicine and integration of IT in healthcare are further expected to boost the bioinformatics platforms market revenues.
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