AI In Bioinformatics Market Forecasted with a 42.9% CAGR from 2024 to 2033
The Global AI in Bioinformatics Market is projected to experience substantial growth, increasing from USD 3.8 million in 2023 to approximately USD 136.3 million by 2033, with an impressive compound annual growth rate (CAGR) of 42.9% during the forecast period from 2024 to 2033. This growth is primarily driven by the rising demand for efficient data analysis tools in biological research, which AI technologies such as machine learning and deep learning can provide.
Key growth factors include the increased adoption of AI in genomics for personalized medicine and drug discovery. The ability of AI to handle vast amounts of genetic data generated by next-generation sequencing technologies is particularly significant. For example, the application of machine learning in bioinformatics has proven vital for interpreting complex biological data, contributing to the sector’s robust market presence.
Despite its rapid growth, the AI in bioinformatics market faces several challenges. High costs associated with AI-based bioinformatics instruments and a shortage of skilled professionals in the field can hinder market expansion. Advanced genomic instruments, which can cost between USD 11 million and USD 22 million, are often out of reach for smaller research laboratories and companies.
Recent developments in the market include significant advancements in bioinformatics platforms and services. For instance, Bionl.AI, launched in 2023, offers a no-code solution for bioinformatics research, streamlining the analysis process. Moreover, strategic acquisitions, such as Kiromic Biopharma Inc.’s acquisition of InSilico Solutions, are enhancing AI capabilities in bioinformatics.
While the AI in bioinformatics market is poised for remarkable growth due to technological advancements and increasing applications in genomics and personalized medicine, addressing cost and skill-related challenges will be crucial for sustaining this growth trajectory.
Key Takeaways
- The service segment captured a significant 57.8% market share in 2023.
- Machine learning led the global AI in bioinformatics market with a 49.3% market share in 2023.
- The bioinformatics service segment accounted for 61.5% of the market share in 2023.
- Genomic applications dominated the market, holding a 27.7% share due to scaling advantages in 2023.
- The medical biotechnology sector secured a substantial 38.4% revenue share in 2023.
- North America led the global AI in bioinformatics market, capturing a 46.5% share and USD 1.7 million in market value in 2023.
Get Sample PDF Report: https://market.us/report/ai-in-bioinformatics-market/request-sample/
AI In Bioinformatics Market Key Segments
By Offering
- Software
- Services
- Others
By Type
- Machine Learning
- Deep Learning and Others
By Products and Services
- Knowledge management tools
- Bioinformatics Platform
- Bioinformatics Services
By Applications
- Genomics
- System Biology
- Chemoinformatics and Drug design
- Transcriptomics
- Metabolomics
- Microarrays
- Text mining
- Proteomics
- DNA sequencing
- others
By Sector
- Medical Biotechnology
- Plant Biotechnology
- Forensic Biotechnology
- Animal Biotechnology
- Environmental Biotechnology
- others
Key Regions
- North America (The US, Canada, Mexico)
- Western Europe (Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, Rest of Western Europe)
- Eastern Europe (Russia, Poland, The Czech Republic, Greece, Rest of Eastern Europe)
- APAC (China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Rest of APAC)
- Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, Rest of Latin America)
- Middle East & Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, Rest of MEA)
Buy Directly: https://market.us/purchase-report/?report_id=116131
Key Players Analysis
Fios Genomics, based in the U.K., provides bioinformatics services to pharmaceutical, biotech, and academic institutions. Specializing in drug discovery and development, the company offers comprehensive data analysis solutions including gene expression, single-cell analysis, proteomics, and metabolomics. Their expertise in integrating complex datasets helps clients derive actionable insights, accelerating preclinical and clinical research. The company emphasizes biological relevance and statistical significance, ensuring high-quality, transparent bioinformatics support.
Source BioScience, headquartered in the U.K., offers a range of bioinformatics services as part of its broader life sciences portfolio. The company provides sequencing services, including next-generation sequencing (NGS), to support genomic research and diagnostics. Their bioinformatics capabilities enhance the interpretation of complex genomic data, aiding in drug development and precision medicine. Source BioScience’s integration of bioinformatics into their service offerings ensures clients can effectively utilize genomic data for clinical and research purposes.
Eurofins Scientific, based in Luxembourg, is a global leader in bioinformatics and laboratory services. They offer comprehensive bioinformatics analysis for genomics, proteomics, and metabolomics data, supporting drug discovery and development. Their advanced computational tools and expertise enable the interpretation of complex biological data, facilitating precision medicine and personalized healthcare. Eurofins’ bioinformatics services are integral to their mission of delivering high-quality scientific data to improve health outcomes and support pharmaceutical research.
Thermo Fisher Scientific, a major U.S. company, integrates bioinformatics into its extensive life sciences and diagnostics portfolio. Their bioinformatics solutions include data analysis for genomics, transcriptomics, and proteomics, leveraging artificial intelligence to enhance data interpretation. Thermo Fisher’s tools help researchers uncover new insights in drug discovery, precision medicine, and clinical diagnostics. The company’s commitment to advancing bioinformatics supports their goal of accelerating innovation in the life sciences sector.
Insilico Medicine, based in the U.S., focuses on applying artificial intelligence to bioinformatics for drug discovery and aging research. Their AI-driven platform analyzes vast amounts of biological data to identify potential drug candidates and therapeutic targets. Insilico Medicine’s approach integrates deep learning and bioinformatics to accelerate the drug development process, making it more efficient and cost-effective. Their innovative use of AI in bioinformatics positions them at the forefront of biotech research and development.
AI In Bioinformatics Market Key Players:
- Fios Genomics (U.K)
- Source BioScience (U.K)
- Eurofins Scientific (Luxembourg)
- Thermo Fisher Scientific Inc. (U.S)
- Insilico Medicine (U.S)
- Paige Al Inc. (U.S)
- SomaLogic Operating Co. Inc. (U.S)
- SOPHiA Genetics
- QIAGEN
- Strand Lifescience
AI In Bioinformatics Market Report Scope >> Market Value (2023): USD 3.8 Million || Forecast Revenue (2033): USD 136.3 Million || CAGR (2024-2033): 42.9% || Base Year Estimation: 2023 || Historic Period: 2019-2022 || Forecast Period: 2024-2033.
Inquire More about report: https://market.us/report/ai-in-bioinformatics-market/#inquiry
About Market.US
Market.US is renowned for its comprehensive market research and analysis, providing customized and syndicated reports to a global clientele. Specializing in a variety of sectors, they offer strategic insights and detailed market forecasts, assisting businesses in making informed decisions. With a focus on innovation and accuracy, Market.US supports clients in over 126 countries, and maintains a strong repeat customer rate, underscoring their commitment to quality and client satisfaction. Their team excels in delivering exceptional research services, ensuring that no detail is overlooked in any target market.
Contact Details
Market.us (Powered By Prudour Pvt. Ltd.)
Contact No: +1 718 618 4351.
Email: inquiry@market.us
Blog: https://medicalmarketreport.com/
View More Trending Reports
Blood Collection Market Predicted USD 25.9 Billion By 2033, An Approximate 7.9% CAGR Growth
Antibody Production Market Will Grow Nearly USD 62.2 Billion At A Rate Of 12.9% By 2033
Healthcare Information Systems Market Valuation Expected To Hit USD 1658.1 Billion By 2033
Editor Details
-
Company:
- Wired Release
- Website:
