Bioinformatics Market Report provide a unique information by our industry experts included with market size, share and growth rate by region wise. Also provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- Americas, Europe, Asia-Pacific, and Middle East & Africa.
Bioinformatics Market – Overview
The global bioinformatics market is growing with the sound pace. According to a recent study report published by the Market Research Future, the global bioinformatics market is booming and expected to gain prominence over the forecast period growing rapidly .The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a sound 19.8% CAGR during the anticipated period (2017 – 2022).
Bioinformatics is the use of information technology in the field of biotechnology for the purpose of data storage, data warehousing, and analysing the DNA sequences. The market is going to grow at a sound pace during the forecast period. The major drivers will be the growing biotechnology sector, increasing global burden of the diseases, and increasing research and development expenses. According to the International Trade Administration, the total turnover for the biotechnology sector in the Germany reached from USD 3,280 million in 2015 to USD 3,410 million in 2016. Moreover, it was estimated that in 2016, the R&D expenditure for biotech sector was about USD 1,040 million. Moreover, increasing initiatives from government and private organizations followed by improved collaborative ties between companies and research institutes fuels the market growth.
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Key Players for Global Bioinformatics Market
Agilent Technologies, Illumina, Inc., QIAGEN, and Thermo Fisher Scientific Inc., and Dassault Systèmes are some of the prominent players at the forefront of competition in the global bioinformatics market and are profiled in MRFR Analysis.
Global Bioinformatics Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global bioinformatics market appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economies, makes it difficult for regional vendors to compete with them, especially in terms of features such as product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Thermo Fisher Scientific Inc. is one of the prominent players in the global bioinformatics market. It is headquartered in the U.S. and is one of the leaders in healthcare. The company is specialized in various biotechnology products such as Analytical Instruments, Laboratory Supply Chain Programs, Laboratory Equipment, Lab Services, Specialty Diagnostics and others. The company’s net sales in 2015, was estimated to be about USD 16, 965.40 million in 2015 and reached USD 18,274.10 million in 2016.
In May 2017, Thermo Fisher Scientific Inc., signed an agreement with Agios Pharmaceuticals to develop and commercialize a next-generation sequencing-based companion diagnostic for the latter’s investigational cancer drug ivosidenib.
In December 2016, Agilent Technologies and Multiplicom N.V. signed a definitive agreement under which Agilent will acquired Multiplicom, a leading European diagnostics company with state-of-the-art genetic testing technology and products.
In August 2017, Illumina, Inc. announced plans with Telegraph Hill Partners to establish Verogen, Inc. The independent new company has certain exclusive rights to provide Illumina’s forensic sequencing technology to forensic customers, including for criminal casework and other human and nonhuman forensic applications. The creation of Verogen enabled an unprecedented focus on accelerating growth of Illumina’s leading next-generation sequencing technology in the forensic genomics market.
Regional Analysis for Global Bioinformatics Market
On the regional backgrounds the Americas leads the global market for bioinformatics owing to growing biotechnology sector, increasing healthcare expenditures and presence of the developed technologies within the region. Following, the same trends Europe is second in the market. The Asia Pacific region is the fastest growing region due to the developing economies like India and China which are increasing their healthcare expenditures in the biotechnology sector. According to the Indian Brand Equity Foundation, in 2017, the Indian biotech industry held about 2% share of the global biotech industry and is expected to be valued USD 11.6 billion in 2017. Moreover, the government invested USD 5 billion to develop human capital, infrastructure and research initiatives. Middle East and Africa have the least market share, especially due to the presence of poor economies within the African region. On the hand, Middle East leads the regional market due to the presence of developed economies like Kuwait, Qatar, and others within the region.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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