Bioinformatics Has Become An Emerging Area In The Field Of Science, And Its Introduction To The Global Industry Has Made A Turning Point In Healthcare

According to Goldstein Market Intelligence, The pace of innovations in genomic and other molecular research technologies and developments in information technologies over the past few years have contributed to generating a tremendous amount of information related to molecular biology and the primary goal of bioinformatics is to increase the understanding of biological processes. Some of the grand research areas in bioinformatics include sequence analysis, genome annotation, analysis of gene/protein expression, analysis of the mutation in cancer, protein structure prediction, and comparative genomics.

Bioinformatics application in proteomic research plays an important role it includes Diabetes research, Tumor metastasis, Nutrition research, Fetal and maternal medicine, Renal disease diagnosis, Neurology, Urological cancer research, Antibody profiling for study and treatment disease. Proteomics held a market share of 22% in the year 2018 and is forecasted to grow with a CAGR of 13.8% by 2026. Further, bioinformatics is used in agriculture-based industries, product utilization, and better management of the environment. The agriculture segment held a market share of 21% in the year 2018.

The growing concerns pertaining to complex diseases such as heart disease, asthma, diabetes, and cancer is making genomics an indispensable part of the medical research, and the future will observe more developments in the genomics industry and it will increase the application of bioinformatics in the sector. Genomics held the largest market share in the year 2018 and is forecasted to hold a market share of 24% in the forecasted period whereas Microbial Genome held a market share of 17% in the year 2018 due to which Gene Engineering is forecasted to grow with an annual growth rate of 12.4% in the forecast period.

According to the Personalized Medicine Coalition (PMC), antidepressants are ineffective for 38% of the patients and the same is the case with asthma drugs for 40%, diabetes drugs for 43%, and cancer drugs for 75%.  This has been a major loophole in the medication procedure, and it significantly increments the treatment time. So, the field of medicine is moving towards providing personalized medicines for patients that warrant detailed disease assessment and management integrated with data analytics which is leading to prospects in the bioinformatics market.

How Could Global Bioinformatics Market Addresses The COVID-19 Concerns?

Bioinformatics is used for research on the COVID 19 and its possible treatments, analyzing the coronavirus genome and its successive mutations, and searching for drugs and immune therapies (antibodies and vaccines).

Barcelona Supercomputing Center (BSC) collaborates in the fight against the coronavirus from different areas: the application of bioinformatics for the research on the virus and its possible treatments, the use of artificial intelligence and natural language processing to analyze the data about the spread and impact of the pandemic and the use of the MareNostrum 4 supercomputer to enable the fight against the coronavirus.

From the bioinformatics side, the BSC is an example of how bioinformatics and supercomputers are nowadays an indispensable tool for research centers that have experimental laboratories to accelerate the fight against the coronavirus.

Another important aspect is the search for treatments against the diseases caused by the coronavirus, including simulations that reproduce in silico the possible routes that can be exploited to attack this virus and this process is known in research as “docking” and consists in simulating in the computer the interactions between the virus and the molecules that could be used to make vaccines, antibody treatments or drug treatments. 

To carry out this process, the researchers use the knowledge generated in the research of the virus genome, information on the structures of its virus proteins and data on drugs and other inorganic molecules, which are stored in computer libraries that contain millions of chemical compounds and the results obtained in previous experiments, collected over years by the scientific community.

Global Bioinformatics Market Landscape

Goldstein Research analyst forecast the Bioinformatics Market size is set to reach USD 23.9 billion by 2027, at a CAGR of 20.5% over the forecast years.

On the basis of product type, molecular medicine held the largest market share of 30% while preventive medicine is anticipated to grow at a faster CAGR of 25% over the forecast period due to the increasing awareness about its key specialties like aerospace medicine, occupational medicine, and public health and general preventive medicine.

North America is leading the Bioinformatics market with market size of USD 5.90 billion in 2016. Europe is the second-largest market for Bioinformatics as countries like Germany and the UK have a huge bioinformatics market stimulated by continuous R&D activities in the region.