Ireland Bioinformatics Market Analysis

Ireland Bioinformatics Market Analysis


$ 3999

The Ireland Bioinformatics market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of yy% during the forecast period of 2022 - 2030. The main factors driving the growth would be a strong biotech and pharmaceutical industry, a growing healthcare industry, and government support. The market is segmented by technology and by application. Some of the major players include Zifo (IRL), Nuritas (IRL), Genuity Science, Agilent Technologies, and IBM Life. Sciences.

ID: IN10IEHS001 CATEGORY: Healthcare Services GEOGRAPHY: Ireland AUTHOR: Neha Davda

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Ireland Bioinformatics Market Executive Summary

The Ireland Bioinformatics market is projected to grow from $xx Mn in 2022 to $xx Mn by 2030, registering a CAGR of yy% during the forecast period of 2022 - 2030. In 2019, national healthcare spending in Ireland as a percentage of GDP reached 6.68% or $5,429 per capita. Ireland spends nearly as much on healthcare per person as the EU average.

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 European region holds the second-largest market share for bioinformatics globally.

Market Dynamics

Market Growth Drivers

The Ireland bioinformatics market is expected to be driven by factors such as the strong biotech and pharmaceutical industry, the growing healthcare industry, and government support. Also, Ireland holds strong international partnerships and collaborations which may help to draw foreign capital into the bioinformatics business.

Market Restraints

The factors that are limiting the growth of the bioinformatics market in Ireland are the shortage of skilled professionals in this field, the high cost of research and development of bioinformatics software and tools, and limited funding for start-ups. Also, Ireland's market is relatively small compared to other European nations, which can reduce the market's potential for expansion.

Competitive Landscape

Key Players

  • Zifo (IRL)
  • Nuritas (IRL)
  • Genuity Science
  • Agilent Technologies
  • IBM Life Sciences

Notable Recent Deals

December 2022: Zifo collaborated with Gilead Digital, a well-known digital marketing company. Gilead Digital will assist the business in expanding further and enhancing its presence and reach among its targeted audience on the web using its integrated marketing tactics.

Healthcare Policies and Regulatory Landscape

Ireland features a dual healthcare system with access to both public and private healthcare. The Health Service Executive, a single government agency, oversees Ireland's public healthcare system (HSE). The Health Information and Quality Authority (HIQA) is in charge of making sure that healthcare practitioners adhere to predetermined standards of treatment, while the Department of Health is in charge of formulating overall healthcare policies and regulations in Ireland. Additionally, the Health Items Regulatory Authority (HPRA) is in charge of policing the efficacy, efficacy, and quality of healthcare products, such as medications, medical equipment, and other health products.

Reimbursement Scenario

The Health Service Executive (HSE), which oversees the country's public healthcare system, sets the policies for reimbursement of medical bills. Although the HSE covers a variety of treatments and procedures, there might be some restrictions or limitations on particular types of care. For instance, there can be restrictions on the number of times a particular doctor can be seen, or some prescriptions might not be covered.

The State-funded public healthcare system and private health insurance are used in conjunction to pay for healthcare services. The majority of medical costs, including doctor visits, hospital stays, and prescription medications, are covered by the public healthcare system. However, the amount of compensation may differ depending on the exact surgery or treatment, and some services might not even be covered. Additionally, those who have private health insurance may be able to obtain surgeries or treatments that are not covered by the public healthcare system, as well as a greater selection of reimbursement possibilities.

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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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

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

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: Dhruv Joshi

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