Belgium Bioinformatics Market Analysis

Belgium Bioinformatics Market Analysis


$ 3999

The Belgium Bioinformatics market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The main factors driving the growth would be the strong presence of pharmaceutical and biotech firms as well as government funding for R&D. The market is segmented by technology and by application. Some of the major players include BioLizard (BEL), BISC Global (BEL), InSilico Genomics, Agilent Technologies, and IBM Life Sciences.

ID: IN10BEHS001 CATEGORY: Healthcare Services GEOGRAPHY: Belgium AUTHOR: Neha Davda

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Belgium Bioinformatics Market Executive Summary

The Belgium Bioinformatics market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. In 2019, the healthcare expenditure in Belgium as a percentage of GDP was 10.66% or $4,960.39 per capita. It spent higher than the current EU average of 9.9 %. Public spending made up 77% of total health spending, which is significantly less than the average for the EU at 80%.

The field of bioinformatics combines the study of biology with information technology. Bioinformatics uses a variety of approaches, including data production, data warehousing, data mining, data management, and more. In order to provide statistical methods and data processing algorithms for applications like next-generation sequencing, modeling of genomic and proteomic structure, and three-dimensional drug discovery, bioinformatics software and tools are employed as integrated solutions. Europe has the second-largest market share in the world's bioinformatics market.

Market Dynamics

Market Growth Drivers

The Belgium bioinformatics market is expected to be driven by factors such as the strong presence of pharmaceutical and biotech firms as well as government funding for R&D. Furthermore, the nation's central location in Europe may make it a desirable destination for foreign businesses looking for expansion to increase their bioinformatics skills.

Market Restraints

The limited availability of skilled personnel along with relatively high labor costs in Belgium compared to other countries in Europe makes the bioinformatics market less attractive for companies to set up operations there.

Competitive Landscape

Key Players

  • BioLizard (BEL)
  • BISC Global (BEL)
  • InSilico Genomics
  • Agilent Technologies
  • IBM Life Sciences

Notable Recent Deals

February 2022: BISC Global entered into a partnership with CropSeq Bioinformatics. With this partnership, customers in the plant breeding research and industry have access to the full range of cutting-edge AgriGenomics services, including pipeline development, software engineering, cloud solutions, and many more. This combination of skills ensures that solutions are tailored to each individual customer's needs and project, delivering the outcomes in the most time- and money-efficient manner.

January 2022: BioLizard announced its strategic partnership with flanders.bio, the main life sciences cluster organization. A strong presence within the flanders.bio network will enable BioLizard to collaborate even more closely with a broad spectrum of life science stakeholders, from start-ups to major multinational organizations, both in and outside of Belgium. Through this agreement, BioLizard will further solidify its position as the industry leader in complex bioinformatics, artificial intelligence (AI), data science, and data management solutions.

Healthcare Policies and Regulatory Landscape

The healthcare system in Belgium is divided into three distinct regions: Flanders, Wallonia, and Brussels, and is primarily supported by taxes and social security contributions. The healthcare system is generally characterized by a high level of accessibility and a strong emphasis on preventive treatment, while each region has its own unique healthcare policies and regulations.

The Federal Public Service of Public Health, which is in charge of establishing national health policies and regulations and supervising their implementation by the regional governments, is responsible for monitoring the administration of the healthcare system in Belgium. The National Institute for Health and Disability Insurance (RIZIV/INAMI), which is in charge of evaluating novel therapies and technologies as well as reimbursing medical expenses, is also in charge of overseeing the system.

Reimbursement Scenario

The National Institute for Health and Disability Insurance (RIZIV/INAMI) is in charge of most aspects of healthcare service reimbursement in Belgium. Belgium's reimbursement regulations aim to ensure that patients have access to the required care and treatments while simultaneously limiting costs and fostering efficiency.

RIZIV/INAMI determines the reimbursement rates for healthcare services and treatments that are covered by the national health insurance program and maintains a list of reimbursable medications, which includes drugs that are covered by the program. These rates are determined by a number of variables, such as the price of the service or treatment, the anticipated therapeutic result, and the accessibility of alternative therapies.

In addition to public health insurance, some Belgians have private health insurance plans. These policies may offer lower cost-sharing for specific treatments as well as coverage for procedures and services that are not covered by the national health insurance program.

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

Belgium 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

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

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: 29 January 2023
Updated by: Ritu Baliya

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