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

US Bioinformatics Market Analysis

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The US Bioinformatics market is projected to grow from $6.447 Bn in 2022 to $18.781 Bn by 2030, registering a CAGR of 14.30% during the forecast period of 2022 - 2030. The main factors driving the growth would be the increased adoption of precision medicine, the growing use of genomics in drug discovery, technological advancements, and the rising volume of biological data created. The market is segmented by technology and by application. Some of the major players include Biovia (USA), IBM Life Sciences (USA), 3rd Millennium Inc (USA), Celera Corporation (USA), Illumina Inc. (USA), Agilent Technologies (USA), Affymetrix (USA), BioWisdom Ltd.

ID: IN10USHS001 CATEGORY: Healthcare Services GEOGRAPHY: US

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US Bioinformatics Market Executive Summary

The US Bioinformatics market is projected to grow from $6.44 Bn in 2022 to $18.78 Bn by 2030, registering a CAGR of 14.30% during the forecast period of 2022 - 2030. In 2021, national healthcare spending in the US as a percentage of GDP reached 18.3% achieving $12,914 per capita. Among all developed countries, the US spends the highest on healthcare relative to GDP both in terms of public and private healthcare expenditure.

The development, manufacture, and sale of software, hardware, and services used to analyze and interpret biological data are all included in the rapidly expanding field of bioinformatics. This field of research merges the disciplines of biology, computer science, and information technology. For applications like next-generation sequencing, genomic and proteomic structure and modeling, and three-dimensional drug design, bioinformatics software and tools are employed as integrated solutions that provide algorithms and statistical approaches for data processing. In 2020, the North American bioinformatics market accounted for a share of about 34% of the global market. The US has the largest stake in bioinformatics in North America and is the region with the quickest growth.

us bioinformatics market analysis

Market Dynamics

Market Growth Drivers

The US bioinformatics market is expected to be driven by factors such as the increasing adoption of precision medicine, the growing use of genomics in drug discovery, technological advancements, and the rising volume of biological data created. Further, the Bioinformatics Programmatic Area by National Science Foundation supports research into the creation of bioinformatics strategies in cyberinfrastructure to increase biological understanding will boost the market.

Market Restraints

The factors that are limiting the growth of the market are the lack of appropriate platforms to merge data sets generated by bioinformatics, and difficulties integrating data due to frequent model changes. Moreover, the lack of personnel qualified to handle bioinformatics research and integrating different types of integration can also be a barrier to the growth of the US bioinformatics market.

Competitive Landscape

Key Players

Biovia (USA)
IBM Life Sciences (USA)
3rd Millennium Inc (USA)
Celera Corporation (USA)
Illumina Inc. (USA)
Agilent Technologies (USA)
Affymetrix (USA)
BioWisdom Ltd

Notable Recent Deals

February 2022: Biovia collaborated with TetraScience, a R&D Data Cloud provider, to increase their partner network and extend the data acquisition of Dassault Systèmes’ “Digital twin of the lab”. With this collaboration, Biovia combines TetraScience's instrument connection capabilities, and the analytical processing and the processing of scientific data from multiple lab instruments used in research and development is engineered and directed to ONE Lab.

August 2021: Agilent entered into an agreement with Partek to deliver a complete end-to-end, robust, customized, and flexible analysis workflow to meet its customer demands. With this agreement, Partek has integrated the Agilent RNA-Seq process into Partek Flow. Additionally, as a one-stop shop, the arrangement permits Agilent to resell Partek Flow software through the Alissa Portal.

Healthcare Policies and Regulatory Landscape

The Food and Drug Administration (FDA) and the Health Insurance Portability and Accountability Act (HIPAA) are two regulatory bodies that have a significant impact on the healthcare policy and regulatory environment for the US bioinformatics market. The creation, testing, and marketing of bioinformatics products, including the software used in illness diagnosis, treatment, and prevention, are all governed by FDA regulations. HIPAA, on the other hand, establishes requirements for safeguarding the confidentiality and security of patient health information.

Reimbursement Scenario

Reimbursement policies in the US for bioinformatics products and services are determined by the Center for Medicare and Medicaid Services (CMS), which is responsible for determining coverage and reimbursement for bioinformatics products and services that are used in healthcare delivery. The policies are also influenced by private insurance companies, which have their own reimbursement policies.

Private insurance companies also cover certain bioinformatics services, but the coverage and reimbursement rates can vary depending on the specific insurance plan. Some companies may cover certain bioinformatics products and services, while others may not cover them at all.

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.