Germany Bioinformatics Market to Grow at a CAGR over 29% through 2020
Increase in R&D activities coupled with favorable government initiatives to drive bioinformatics market in Germany through 2020
According to a recently released TechSci Research report, “Germany Bioinformatics Market Forecast and Opportunities, 2020”, bioinformatics market in Germany is projected to register a CAGR of over 29% during 2015-20. The market is expected to witness tremendous growth on account of rising government funding and initiatives, high-volume data management concerns, growing need for faster drug discovery processes at cheaper costs and lesser failure rates, and ongoing technological developments. During 2010-14, Germany has emerged as one of the fastest growing bioinformatics markets in Europe.
Over the past few years, biotechnology and human genome mapping have witnessed significant developments, globally. This has also led to robust growth in adoption of high-throughput sequencing technologies, DNA and RNA sequencing, gene expression, protein structuring and modelling, etc. in Germany. In 2014, medical biotechnology dominated German bioinformatics market, followed by academics and animal biotechnology segments. Affymetrix, Biovia, Biomax Informatics AG, Life Technologies and Agilent Technologies are few of the leading players operating in Germany bioinformatics market. Increasing need for management of high-volume data to make workflow efficient and accurate at lower time and cost,growing applications in biotechnology, microbial genome applications, pharmaceutical research and development (R&D), etc. is driving demand for bioinformatics solutions in the country.
“Medical biotechnology segment is expected to continue its dominance in Germany in the coming years. Advancements in genomics, proteomics, transcriptomics, etc., for drug discovery, vaccine development and production, improvements in efficiency of plant and animal breeds, climate change studies, etc. across various verticals such as medical biotechnology, animal biotechnology, agricultural biotechnology and forensic biotechnology coupled with increase in number of government funding for research & development initiatives are the major factors driving sales of bioinformatics solutions in the country.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Germany Bioinformatics Market Forecast and Opportunities, 2020” has evaluated the future growth potential of Germany bioinformatics market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in Germany Bioinformatics market.