Global Bioinformatics Market: Snapshot
According to the recent business intelligence report released by IndustryARC, the global bioinformatics market size was $9.2 billion to $9.6 billion in 2018, and the demand will be growing an outstanding CAGR of 12% to 14% during the forecast period of 2019 to 2025. The report is titled “Bioinformatics Market: By Product (Bioinformatics Platforms, Knowledge Management Tools, Services); By Application (Medicine, Agriculture, Genomics, Proteomics, Transcriptomics); By Sector (Clinical Diagnostics, Gene Therapy, Others); By Geography - Forecast (2019-2025).”
Bioinformatics is used to develop methods and tools to better understand the biological data. It uses computer programming with different fields including computer science, biology, information engineering, statistics, and mathematics to interpret the biological samples and data. Previously, bioinformatics was used for identification of genes and single nucleotide polymorphisms (SNPs). Improvement in the field with an aim to enhance the medical graph of bioinformatics is creating opportunities in the market.
As per the report released by the European Bioinformatics Institute for the year 2017 in NCBI, bioinformatics storage data in Europe is increasing gradually, and it had reached around 120 petabytes in recent years. The biosamples database of over 5 million has been used in many different experiments. The existing data stored can be used for generating other related sample data and products is the major factor for the growing prospects in the bioinformatics market.
Browse 64 Market Tables, 177 Figures spread through 227 slides and an in-depth TOC “Bioinformatics Market (2019 - 2025)”
Global Bioinformatics Market: Leading Segments
IndustryARC analyst assesses that Americas was the leading region with a demand share of 36% to 38% in 2018. Furthermore, genomics is the leading application segment of the bioinformatics market, growing with a CAGR of 11% to 12% through to end period 2025. Enormous clinical usage of genomic technologies offers ample amount of opportunities to enhance the healthcare across the scale of medical domains, and it helps to accelerate decision-making in the healthcare sector for better diagnosis management.
Genomics can be used to identify the genetic factor responsible for diseases spreading from one generation to another. Genomics is widely used to diagnose and cure the genetic diseases that are stimulating the demand for bioinformatics market. Rising mergers between research organizations, growing support of the government in producing medicines using bioinformatics are some factors responsible for driving the growth of bioinformatics market in America.
Global Bioinformatics Market: Trends
- Bioinformatics is achieving significance, and the amount of data generated requires management and elucidation for later research purposes. Demand for differentially articulated genes, computational epigenetics, and meta-analysis of the gene network. Microarray data system biology requirements has also had a major impact on the growth of the bioinformatics market.
- The advent of massively parallel sequencing technology known as next-generation sequencing (NGS) is a major contributor for the growth of bioinformatics tools as they are used for analyzing huge database which has influenced the development of the global bioinformatics market.
- Bioinformatics helps to identify the medical model of people related to different groups for medical interventions. As per the study, on the risk of disease and expected response medicines are tailored using bioinformatics. Stratified medicines and precision medicines have grown, owing to the growth of new informatics approaches and diagnostics. This approach is collectively influencing the bioinformatics market.
- There is a discernible continuous need to produce improved variety of crop plants. Bioinformatics play big role to analyze the data for crop improvements. The plant related genetics data and resources are analyzed properly to produce solutions such as healthier and insect-resistant crops with improved quality of livestock. This technique works as a catalyst for development of the agricultural sector, agro-based industries, agricultural by-products utilization, and better management of the environment. Researchers associated with farming are highly recommending the usage of bioinformatics, and that is significantly boosting the bioinformatics market.
- Whole genome sequencing (WGS) is used to determine the complete sequence of DNA at a single time. WGS is widely used research tool for clinical interventions and now used for personalized medicine. Due to recent cost reductions, WGS has become a representative application in DNA diagnostics.
Global Bioinformatics Market: Competitive Landscape
Some of the major players in the bioinformatics market are Agilent Technologies Inc., Biomax Informatics AG, Dassault Sytemes Biovia Corp, Bruker Corporation, Qiagen, Illumina Inc., Permin Elmer Inc., Applied Biologicals Materials, Waters Corporation, and Thermo Fisher Scientific Inc.
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Bioinformatics Services Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2024
Genomics Market: By Product Types (Microarray chip, Sequencers, Others); By Services (Bioinformatics, Laboratory, Others); By Technique (PCR, Electrophoresis, others); By Application (Genotyping, SNP analysis, others); (By End-User (Anthropology, Diagnostics, Others); By Geography - Forecast(2019-2025)
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