Bioinformatics Market Analysis
Global bioinformatics market is predicted to grow at a 19.8% CAGR over the forecast period (2013-2022), as per the latest Market Research Future (MRFR) report. Bioinformatics includes the integration of databases, software tools, and computers for addressing biological questions. Two vital large-scale activities which use bioinformatics include proteomics and genomics. Bioinformatics has several other applications in biology and medicine, including forensic analysis of microbes, biotechnology, drug developments, gene therapy, preventive medicines, and molecular medicines.
Bioinformatics has proven in having extreme potential in identifying diseases beforehand, determining treatment, and helping in making human lives better. Through the knowledge and inspiration of computer science, various fields including healthcare, medicine, and gene technology can evolve by curing patients to healing the entire population.
Various factors are propelling the bioinformatics market growth. These factors, as per the MRFR report, include increasing demand for protein sequencing and nucleic acid, initiatives from private organizations and government, and rising applications of bioinformatics. Additional factors boosting market growth include increasing need for integrated data, drug discovery, and the rising number of collaborations amongst research institutes and companies.
On the contrary, lack of user-friendly tools at affordable prices, common data formats, and lack of skilled personnel are factors that may impede the bioinformatics market growth over the forecast period.
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
Based on the region, the bioinformatics market report covers the latest trends and growth opportunities across the Asia Pacific (APAC), Europe, the Americas, and the Middle East and Africa (MEA). Of these, the Americas will remain at the forefront in the market over the forecast period. This is owing to technological advancements, rising research funding, presence of several research institutes and market players in the region, and its burgeoning demand across proteomics and genomics research. The United States and Canada are the key contributors in this region.
The bioinformatics market in Europe is predicted to have the second-largest share over the forecast period owing to its growing demand in various end use industries.
The bioinformatics market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to its rising assistance in the development of new medicines and clinical diagnostics, and increasing government initiatives to develop integrated bioinformatics systems in the region’s emerging economies.
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Bioinformatics Market Key Players
Leading players profiled in the bioinformatics market report include QIAGEN, Dassault Systèmes, Thermo Fisher Scientific Inc., QIAGEN N. V, Illumina, Inc., and Agilent Technologies, among others. Key players have used various strategies to create a niche in the market such as expansions, mergers and acquisitions, partnerships, product launch and innovation, and more.
Bioinformatics Market is comprehensive and accurately presented in the report with the help of detailed market information and data, critical findings, error-free statistics, and reliable forecasts.
The report digs deep into important aspects of the global Bioinformatics market, including competition, segmentation, regional expansion, and market dynamics.
Each leading trend of the global Bioinformatics market is carefully studied and elaborately presented in the report.
Readers are also provided with detailed information on key drivers and restraints of the global Bioinformatics market.
Players can become informed about unknown future challenges in the global Bioinformatics market and prepare effective strategies to better deal with them.Bioinformatics market is expected to gain market growth in the forecast period of 2021 to 2028.
Data Bridge Market Research analyses the market to grow at a CAGR of 16.45% in the above-mentioned forecast period.
