The Global Bioinformatics market is poised to reach $11.5 billion by the end of 2020 growing at a CAGR of 18.6%. Bioinformatics derives information from computer analysis of biological data. These can consist of the data stored in the genetic code, but also experimental outcomes from various sources, patient statistics, and scientific literature. Study in bioinformatics includes method development for storage, retrieval, and analysis of the data.
Bioinformatics is a rapidly developing branch of biology and is highly interdisciplinary, using practices and ideas from informatics, statistics, mathematics, chemistry, biochemistry, physics, and linguistics. It has many practical uses in different areas of biology and medicine. Roughly, bioinformatics labels any use of computers to handle biological information. In practice the definition used by most people is narrower; bioinformatics to them is another word for “computational molecular biology”- the use of computers to distinguish the molecular components of living things.
Currently, North America is the largest market globally followed by Europe. APAC is the fastest growing segment. The Global Bioinformatics market can be segmented on the basis of Platform (Sequence Analysis, Sequence Alignment, Sequence Manipulation, Structural Analysis and Others), Tools (Bioinformatics Content Management Tools, Bioinformatics Workflow Management Systems, Software, Web Services and Others), Service (Database management, Data Analysis, Sequencing services and Others), Applications (Microbial Genome, Molecular Medicine, Gene Therapy, Drug Development, Personalized Medicine, Proteomics, Metabolomics, Transcriptomics, Molecular Phylogenetic and Others), Sector (Biotechnology, Animal studies, Agriculture, Environmental studies, Forensic science and Others), Geography (North America, Europe, APAC and RoW).
Rise in the Government spending in biotechnology, Increased R&D activity, increase in the growth of proteomics & genomics, rise in drug discovery & development research and upsurge of the biotechnology sector in the emerging economies are the major driving factors of the Bioinformatics market.
Lack of skilled labor, lack of common formats, saturation of pharmaceutical sector and data complexity concerns are the major challenges of the Bioinformatics market.
What the report offers
Market Definition for the specified topic along with identification of key drivers and restraints for the market.
Market analysis for the Global Bioinformatics Market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the Macro and Micro factors that affect the Global Bioinformatics market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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