Europe Bioinformatics Market Analysis

Europe Bioinformatics Market Analysis


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The Europe Bioinformatics market is projected to grow from $2.92 Bn in 2022 to $8.95 Bn by 2030, registering a CAGR of 15.04% during the forecast period of 2022 - 2030. The main factors driving the growth would be technological advancement, growing research in the field of bioinformatics, increasing need for bioinformatics for personalized medicine, and the treatment of various chronic diseases. The market is segmented by technology and by application. Some of the major players include BioWisdom, Biomax Informatics, Qiagen, Thermo Fisher Scientific, and Agilent Technologies.

ID: IN10EUHS001 CATEGORY: Healthcare Services GEOGRAPHY: Europe AUTHOR: Neha Davda

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Europe Bioinformatics Market Executive Summary

The Europe Bioinformatics market is projected to grow from $2.92 Bn in 2022 to $8.95 Bn by 2030, registering a CAGR of 15.04% during the forecast period of 2022 – 2030. In recent years, the Europe region's healthcare spending has increased as a result of the aging of the population, the rising prevalence of chronic diseases, and the rising demand for high-quality healthcare services. According to data from the World Health Organization (WHO), healthcare spending as a percentage of GDP varies significantly across European countries. In several countries, including the UK, Germany, France, Italy, and Spain, healthcare spending is quite high as a percentage of GDP.

Bioinformatics is the study of biology with information technology. In bioinformatics, various approaches are used, such as data management, data mining, data warehousing, and data generation. Statistical techniques and data processing algorithms are provided by bioinformatics software and tools as integrated solutions for applications including next-generation sequencing, modeling of genomic and proteomic structure, and three-dimensional drug discovery. In the global bioinformatics market, Europe holds the second largest share.

europe bioinformatics market analysis

Market Dynamics

Market Growth Drivers

The Europe bioinformatics market is expected to be driven by factors such as technological advancement, growing research in the field of bioinformatics, and an increasing need for bioinformatics for personalized medicine and the treatment of various chronic diseases. By using genome-focused pharmacology to treat chronic diseases, bioinformatics has the potential to revolutionize oncology and advance the idea of precision medicine.

Market Restraints

High cost of R&D and challenges in clinical bioinformatics analysis such as effective evaluation of analytical software tools, acceleration of the overall process using hybrid parallel computing (HPC) parallelization and acceleration technology, advancement of automation techniques, alternatives for data storage, etc. restricts the growth of bioinformatics in Europe.

Competitive Landscape

Key Players

  • BioWisdom
  • Biomax Informatics
  • Qiagen
  • Thermo Fisher Scientific
  • Agilent Technologies

Notable Recent Deals

September 2022: Thermo Fisher Scientific joins the Pennsylvania Biotechnology Center (PABC) as a founding sponsor of both the PABC location in Pennsylvania and the B+Labs incubator in Philadelphia, where up-and-coming life sciences companies can accelerate their path to commercialization.

Healthcare Policies and Regulatory Landscape

Several government organizations, including the European Medicines Agency (EMA), the European Commission (EC), and national competent authorities like the UK's Medicines and Healthcare products Regulatory Agency (MHRA) and the French National Agency for Medicines and Health Products Safety (ANSM), shape the healthcare policies and regulatory landscape for the Europe bioinformatics market. These organizations are in charge of policing the creation, endorsement, and promotion of bioinformatics goods and services in Europe. A comprehensive data privacy rule called the General Data Protection Regulation (GDPR) has an impact on how sensitive personal health data is used and stored in the European bioinformatics market.

The European bioinformatics industry is also shaped by intellectual property rules, such as patents, trademarks, and copyrights, which defend businesses' rights to use and market their bioinformatics goods and services.

Reimbursement Scenario

The European bioinformatics market's reimbursement scenario is complicated and varies widely by nation. Government funding for particular bioinformatics goods and services may exist in some nations, although private insurance and/or out-of-pocket expenses may be the primary means of payment in other nations. The type of good or service, along with the unique healthcare system in each nation, might have an impact on the amount of compensation offered. The technology's cost-effectiveness and ability to improve patient outcomes will both be taken into consideration when deciding whether to provide payment.

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

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.

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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: 23 April 2024
Updated by: Anish Swaminathan

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