China Bioinformatics Market Analysis Report [2022-30] I Insights10

China Bioinformatics Market Analysis

$ 3999

The China Bioinformatics market is projected to grow from $1.23 Bn in 2022 to $4.58 Bn by 2030, registering a CAGR of 17.80% during the forecast period of 2022 - 2030. The main factors driving the growth are technological advancements and government support. The market is segmented by technology and by application. Some of the major players include BGI Group (CHN), Novogene (CHN), Wuxi NextCODE (CHN), Illumina Inc., Agilent Technologies.

ID: IN10CNHS001 CATEGORY: Healthcare Services GEOGRAPHY: China

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China Bioinformatics Market Executive Summary

The China Bioinformatics market is projected to grow from $1.23 Bn in 2022 to $4.58 Bn by 2030, registering a CAGR of 17.80% during the forecast period of 2022 - 2030. In 2019, health expenditure in China was 5.35% of the GDP, up from 5.17% in the previous year. However, it's still lower compared to developed countries, where healthcare expenditure as a percentage of GDP is around 10-15%.

Bioinformatics software and tools are used as integrated solutions that give algorithms and statistical methodologies for data analysis in applications including next-generation sequencing, proteomic and genomic structure and modeling, and three-dimensional drug development. The key areas of bioinformatics, such as genomics, proteomics, transcriptomics, metabolomics, and drug discovery, are primarily the focus of the Chinese bioinformatics market. The market is also growing in new sectors including bio-agriculture, bio-manufacturing, and precision medicine.

china bioinformatics market analysis

Market Dynamics

Market Growth Drivers

The China bioinformatics market is expected to be driven by recent advancements like big data analytics and high-throughput sequencing which have led to the development of new bioinformatics tools and services and the industry’s expansion. China has a robust technology industry, and businesses there are investing in R&D to enhance their bioinformatics products and services. Further, the Chinese government has made significant investments in the growth of the bioinformatics sector because it recognizes the industry's potential to spur economic development and enhance patient outcomes. As a result, a number of research facilities like the Beijing Genomics Institute and the National Center for Bioinformatics, have been established. The government also offers grants and tax breaks to businesses in the bioinformatics sector, which has aided in luring investment and fostering market expansion.

Market Restraints

The bioinformatics market in China is facing challenges related to a complex regulatory environment, data privacy and security concerns, limited healthcare infrastructure in rural areas, limited reimbursement policies, and limited awareness of bioinformatics.

Competitive Landscape

Key Players

BGI Group (CHN)
Novogene (CHN)
Wuxi NextCODE (CHN)
Illumina Inc.
Agilent Technologies

Notable Recent Deals

January 2023: Novogene announces the deployment of PacBio REVIO and Illumina NovaSeqTM X Plus sequencing systems to its line-up of sequencing platforms. The addition of these new platforms is anticipated to improve Novogene's capabilities and the quality of its genomics research services, enabling its clients to conduct more innovative and high-throughput research.

September 2020: Illumina partnered with Roche and a software suite to speed up the uptake of genomics and announced new sequencing systems. In accordance with the terms of the agreement, Illumina will give Roche the right to create and market IVD tests on Illumina's NextSeqTM 550Dx System as well as on its upcoming NovaSeqDx diagnostic sequencing system. In exchange, Roche will work with Illumina to add new Companion Diagnostic (CDx) claims to Illumina's comprehensive pan-cancer assay, TruSight Oncology 500 (TSO 500).

Healthcare Policies and Regulatory Landscape

In China, the regulatory framework for bioinformatics is still being developed, and rules for bioinformatics products and services can differ depending on the type of product or service. For instance, the State Food and Drug Administration (SFDA) regulates pharmaceuticals, whereas the National Medical Products Administration (NMPA) regulates medical devices.

Reimbursement Scenario

There are few reimbursement policies for bioinformatics goods and services in China, which can make it challenging for businesses to market their goods and services. Each province or municipality may have a different policy, and the federal government does not have a consistent reimbursement scheme for bioinformatics products. Further, the reimbursement process for bioinformatics products and services can be complex and time-consuming.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Bioinformatics Market Segmentation

By Technology (Revenue, USD Billion):

Knowledge Management Tools
Bioinformatics Platforms
Bioinformatics Services

By Application (Revenue, USD Billion):

Metabolomics
Molecular phylogenetics
Transcriptomics
Chemoinformatic & drug design
Genomics
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.