Bioinformatics Market Overview
The global bioinformatics market is expected to exhibit a CAGR of 19.8% over the forecast period from 2016 to 2022, according to a new research report from Market Research Future (MRFR). The global bioinformatics market is mainly driven by the growing demand in developing countries in enhancing their healthcare sector and making advanced healthcare modalities available to patients.
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The growing demand for electronic healthcare data storage is likely to be a major driver for the global bioinformatics market. The reliance on manual and paper-based documentation of healthcare procedures has resulted in unmanageable volumes of healthcare information, which can make it difficult to locate individual patients and their medical history. Electronic healthcare records, which are but the first step of the bioinformatics market, have already become widely popular in developed countries due to the benefits they present in terms of consistent data storage over the long term and ease in acquiring specific details at any given time. The growing demand for e-prescriptions and online pharmacies is likely to further the cause of the bioinformatics market over the forecast period, as strong bioinformatics networks are needed to operate and manage e-prescriptions and the related documentation.
The growing demand for strong data storage facilities in medical research is also likely to be a major driver for the global Bioinformatics Market. Bioinformatics plays a key role in genetic studies, in which it helps track details regarding multiple genes and their multifarious associations with the indicators being studied in the respective trial. The growing dependence on genetic studies in cancer research is likely to be a major driver for the global bioinformatics market over the forecast period, as cancer research has received strong government backing across the world. Other medical research applications are also likely to make use of bioinformatics systems on a large scale in the coming years, leading to steady growth of the global bioinformatics market over the forecast period.
Bioinformatics Market Competitive Analysis:
Leading players in the global bioinformatics market include
- Agilent Technologies
- Qiagen N.V.
- Dassault Systemes
- Thermo Fisher Scientific Inc
- Illumina Inc.
Bioinformatics Market Segmentation
The Market Research Future report provides a wide segmental analysis of the bioinformatics market based on sector, services and technology, and application.
By application, the bioinformatics market is segmented into DNA sequences, molecular phylogenetics, metabolomics, proteomics, transcriptomics, drug design, genomics, chemoinformatics, and others. Of this, the genomics segment will have the largest share in the market over the forecast period. This is owing to its rising application in preventive and personalized medicine.
By services and technology, the bioinformatics market is segmented into sequence manipulation, data warehousing, sequence analysis, among others.
By sector, the bioinformatics market is segmented into agriculture bioinformatics, medical bioinformatics, animal informatics, and others. Of these, the medical bioinformatics segment will dominate the market over the forecast period. This is on account of the increasing adoption of bioinformatics in clinical and pharma applications.
Bioinformatics Market Regional Analysis:
The global bioinformatics market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The global bioinformatics market is dominated by the Americas and Europe in terms of region due to the presence of strong telecommunications infrastructure in these regions to support advanced bioinformatics processes. The presence of a strong wireless internet and other telecommunication features is crucial for a bioinformatics system to function productively. This has actually been one of the key factors that has held back the bioinformatics market in underdeveloped regions.
In April 2019, researchers from UCLA announced a plan to develop a system that would allow scientists in developing countries to use cloud computing and big data analytics to accelerate the development of the bioinformatics field in their own countries. Efforts such as these are the result of the growing awareness of the disparity in terms of telecommunications infrastructure between developed and developing countries.
Asia Pacific is likely to exhibit the fastest growth over the forecast period due to the increasing efforts from governments in the region to incorporate powerful bioinformatics programs into the day-to-day functioning of their country’s healthcare sector.
List Of Tables
TABLE 1 GLOBAL BIOINFORMATICS MARKET, BY APPLICATION, 2013-2022 (USD MILLION)
TABLE 2 GLOBAL BIOINFORMATICS MARKET, BY TECHNOLOGY AND SERVICES, 2013-2022 (USD MILLION)
TABLE 3 GLOBAL BIOINFORMATICS MARKET, BY SECTOR, 2013-2022 (USD MILLION)
TABLE 4 GLOBAL BIOINFORMATICS MARKET, BY REGION, 2013-2022 (USD MILLION)
List Of Figures
FIGURE 1 RESEARCH PROCESS
FIGURE 2 PORTERS FIVE FORCES MODEL
FIGURE 3 GLOBAL BIOINFORMATICS MARKET, BY APPLICATION
FIGURE 4 GLOBAL BIOINFORMATICS MARKET, BY TECHNOLOGY AND SERVICES
FIGURE 5 GLOBAL BIOINFORMATICS MARKET, BY SECTOR
FIGURE 6 GLOBAL BIOINFORMATICS MARKET, BY REGION
FIGURE 7 GLOBAL BIOINFORMATICS MARKET: COMPANY SHARE ANALYSIS, 2015 (%)
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