North America to Witness Highest CAGR in Bioinformatics Market During Forecast Period
Increasing applications of
bioinformatics and rise in nucleic acid and protein sequencing to drive global
bioinformatics market through 2025
According
to TechSci Research report, “Global Bioinformatics Market By Product &
Services, By Applications, By Sectors, By Region, Competition, Forecast &
Opportunities, 2025”, global bioinformatics market is projected to grow at
a CAGR of around 16% during forecast period on account of expansion of
blockchain technology and cloud technology and integration of machine learning
and artificial intelligence in healthcare. Moreover, increasing investment in
development of bioinformatics solution by IT giants would further spur growth
in the market. Accelerating proteomics and genomics growth coupled with rising
research on molecular biology and drug discovery is anticipated to boost the
market in the forthcoming years. Additionally, rising demand for differentially
expressed genes, computational epigenetics, meta-analysis of microarray data,
gene network, systems biology requirements, and gene-associating studies, among
others, is positively influencing the growth of global bioinformatics market. However,
lack of common formats for data integration is expected to restrain the growth
of the market during forecast period as most of the research institutes have
their own data formats. Furthermore, due to the frequent change in data models,
the data integration process becomes difficult, which might hamper the growth
of global bioinformatics market.
Browse market data Tables
and Figures spread through 110 Pages and an in-depth TOC on "Global
Bioinformatics Market"
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Global
bioinformatics market can be segmented based on product & services, applications,
sectors, distribution channel and region. Considering the applications, the
market can be segmented into Microbial Genome, Gene Engineering, Drug
Development, Personalized Medicine, Omics and Other Applications. The Microbial
Genome and Gene Engineering segments accounted for the majority share of the
global market until 2019 and are expected to maintain their position through
the forecast period as well due to the increasing applications of genomics in
personalized and preventive medicine. Based on sector, the global market is
divided into Forensic Biotechnology, Medical Biotechnology, Academics,
Environmental Biotechnology, Animal Biotechnology and Agriculture
Biotechnology. Until 2019, the medical biotechnology segment held the largest market
share owing to the rising adoption of bioinformatics tools in pharma and
clinical applications.
Illumina Inc. Life Technologies (Thermo
Fischer Scientific), Qiagen NV, Agilent Technologies, PerkinElmer, Accelrys
Inc., Geneva Bioinformatics SA, Ontoforce, Data4Cure and Life Map Sciences
(Biotime), among others are the leading players operating in global
bioinformatics market.
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“Global bioinformatics market is poised to grow at a brisk rate during
the forecast period on account of its applicability in the study of genetics
and genomes, growing demand for nucleic acid & protein sequencing due to
reduction in sequencing cost and increasing need for integrated solutions &
systems. Moreover, initiatives from government & private organizations is
further anticipated to drive the growth of the market until 2025.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Bioinformatics Market By Product &
Services, By Applications, By Sectors, By Region, Competition, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of global bioinformatics market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global bioinformatics market.
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