Africa Bioinformatics Market Analysis

Africa Bioinformatics Market Analysis


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The Africa Bioinformatics market is projected to grow from $230.25 Mn in 2022 to $853.81 Mn by 2030, registering a CAGR of 17.80% during the forecast period of 2022 - 2030. The main factors driving the growth would be an increase in investments from the public and private sectors, the growing healthcare industry, and technological advancements. The market is segmented by technology and by application. Some of the major players include IBM Life Sciences, Qiagen, NEC, Thermo Fisher Scientific, and Agilent Technologies.

ID: IN10AFHS001 CATEGORY: Healthcare Services GEOGRAPHY: Africa AUTHOR: Neha Davda

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Africa Bioinformatics Market Executive Summary

The Africa Bioinformatics market is projected to grow from $230.25 Mn in 2022 to $853.81 Mn by 2030, registering a CAGR of 17.80% during the forecast period of 2022 - 2030. Africa's healthcare spending varies greatly from country to country. Healthcare spending varies greatly between nations, with some, like South Africa, having relatively high levels while others, like many low-income nations, have very low levels. By African standards, South Africa spent a relatively high 8.5% of its GDP on healthcare.

The field of bioinformatics, which combines biology with information technology, connects biological data with methods for information storage, distribution, and analysis to serve a variety of scientific fields, including biomedicine. It makes use of software tools for data management, data warehousing, data mining, and other functions. Exploiting such data produces scientific findings that are applied to the study of genetics and genomes. The bioinformatics market in Africa is rapidly growing and the market is dominated by South Africa.

africa bioinformatics market analysis

Market Dynamics

Market Growth Drivers

Africa's bioinformatics industry is expanding significantly, and this development is being fueled by a variety of factors. First of all, governments and organizations from the private sector are boosting investment in the healthcare sector, including bioinformatics, as more people in Africa are becoming aware of its significance. Secondly, the demand for bioinformatics goods and services is being driven by the growing need for improved healthcare solutions to address public health issues including infectious diseases. Also, the use of bioinformatics tools and applications in Africa is growing due to technological improvements like the widespread use of smartphones and the internet.

Market Restraints

Limited infrastructure, high cost of research and development in this field and shortage of skilled personnel limits the growth of bioinformatics in the region. Additionally, the absence of standardization and regulations in the industry is hindering market expansion, making it challenging for businesses to run and for consumers to make wise purchasing decisions.

Competitive Landscape

Key Players

  • IBM Life Sciences
  • Qiagen
  • NEC
  • Thermo Fisher Scientific
  • Agilent Technologies

Notable Recent Deals

July 2019: NEC announced the acquisition of OncoImmunity, a bioinformatics company that develops specialized machine learning software to aid in the fight against cancer. The resources and capabilities that support the development of its pipelines for customized immunotherapy needed to be strengthened by this acquisition. NEC will continue to prioritize drug discovery while NEC OncoImmunity AS will continue to offer its neoantigen prediction services.

Healthcare Policies and Regulatory Landscape

The regulatory environment for bioinformatics in Africa can vary significantly by country and have an impact on the development and application of bioinformatics solutions. In South Africa's public and private healthcare systems, the government sponsors the vast majority of healthcare providers. The National Department of Health (NDoH) is responsible for establishing healthcare laws and regulations in South Africa.

In Egypt also, government sponsors the majority of healthcare providers. The Ministry of Health and Population is responsible for establishing healthcare rules and regulations in Egypt. According to the 2016-passed Universal Health Insurance Law, all Egyptians are meant to obtain universal health coverage (UHIL). Everybody must enroll in one of the three government-sponsored health insurance programs as required by law.

Reimbursement Scenario

In Africa, there are few reimbursement rules for healthcare services, and patients typically pay the majority of healthcare costs out of pocket. Many people, especially in rural and low-income areas, may not be able to afford healthcare services due to the restricted availability of insurance and other payment options. There are certain nations in the region where the government reimburses patients in full or in part for specific healthcare services. Rural areas have fewer access to reimbursement choices, and there are frequent inequalities in reimbursement between urban and rural locations.

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

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 03 February 2023
Updated by: Dhruv Joshi

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