The field of bioinformatics combines features of biology and computer science. The bioinformatics market has arisen from the flow of data being obtained through research and development activities, especially in life science, biotechnology, and biopharmaceutical industries. Rapid technological advancements and rising use of information technology in the healthcare industry supports the development of the global bioinformatics market.
The global bioinformatics market stood at US$10.0 billion in 2013 and is expected to reach US$30.8 billion by 2020. Growth of bioscience, life science research, and the pharmaceutical industry will propel the global bioinformatics market at a 15.5% CAGR. Support from the government will power research and development activities, which will further help the growth of the global bioinformatics market during the forecast period.
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Sequence Alignment Platform Leads Global Bioinformatics Market
Globalization has changed the nature of clinical trials. Considering the rapidly growing requirement for professional people to manage bioinformatics platforms and tools, key market players have started offering quality bioinformatics services. With this, the adoption rate of bioinformatics is expected to increase during the forecast period. This will help in the expansion of the market, resulting in promising growth prospects for the global bioinformatics market during the forecast period.
The global bioinformatics market is segmented on the basis of geography, tools, services, and platforms. By platforms, the global bioinformatics market is segmented into sequence manipulation platforms, sequence alignment platform, and structural analysis platforms. In 2013, the global bioinformatics market was led by the sequence alignment platform sector, which held a 30% market share. By applications, the global bioinformatics market is segregated into molecular medicine, preventive medicine, gene therapy, and drug developments.
By geography, the global bioinformatics market is segmented into Asia Pacific, Europe, North America, and Rest of the World. With a 35% share, North America led the global market in 2013. This was due to the easy availability of advanced technology and skilled personnel in this region. Some of the leading market players contributing to the growth of the global bioinformatics market are Accelrys Inc., Agilent Technologies Inc., GenoLogics Life Science Software, and Affymetrix Inc.
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Bioinformatics Services to be used by Emerging Market Players to Develop Immunotherapy
Bioinformatics services could soon be used to find the next effective drug to cure cancer. Recently, bioinformatics services were used to develop immunotherapy, which will be hailed as the future treatment for cancer. Some immunotherapies have already shown positive results in curing cancer. Engineers from the University of Houston are using bioinformatics services to identify high-performance immune cells to develop immunotherapies, which can be used to cure cancer.
The European Union is using bioinformatics to discover new immunotherapies to cure cancer. The research activities are led by the Medical University of Innsbruck in Austria, along with efforts undergoing in other countries such as the Czech Republic, Germany, Spain, France, and the Netherlands. Industry partners including AaptaIT and Definiens AG are also a part of this research activity. The European Union supported the activities by granting 3 million euros in the initial stage. Dr. Zlatko Trajanoski, the director of Innsbruck Division of Bioinformatics, is taking initiatives to develop new immunotherapies to treat cancer patients. Through the Advanced Bioinformatics Platform for Personalized Cancer Immunotherapy (APERIM), the experts are developing the conception of better immunotherapies to treat cancer.
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