Bioinformatics Market to Grow by USD 13.2 Billion (2024-2028), Lower Genetic Sequencing Costs Drive Revenue, Report Highlights AI’s Role in Transformation – Technavio | PR Newswire [Video]

NEW YORK, Nov. 29, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global bioinformatics market size is estimated to grow by USD 13.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 16.59% during the forecast period. Reduction in cost of genetic sequencing is driving market growth, with a trend towards development of sophisticated bioinformatics tools for NGS. However, shortage of trained laboratory professionals poses a challenge. Key market players include Agilent Technologies Inc., Azenta Inc., Bio Rad Laboratories Inc., Biomax Informatics AG, DNASTAR Inc., Eurofins Scientific SE, Fios Genomics Ltd., Genedata AG, Geneva Bioinformatics SA, Illumina Inc., Partek Inc., Perkin Elmer Inc., Precigen Inc., QIAGEN NV, Quest Diagnostics Inc., Seven Bridges Genomics Inc., Source BioScience, Thermo Fisher Scientific Inc., Waters Corp., and ZS Associates Inc..

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