Market Research Report
Bioinformatics Market by Technology and Services (Knowledge Management Tools, Bioinformatics Platforms and Bioinformatics Services), Application and Sector: Global Opportunity Analysis and Industry Forecast, 2018 - 2025
|Published by||Allied Market Research||Product code||305983|
|Published||Content info||284 Pages; 126 Tables; 58 Charts
Delivery time: 2-3 business days
|Bioinformatics Market by Technology and Services (Knowledge Management Tools, Bioinformatics Platforms and Bioinformatics Services), Application and Sector: Global Opportunity Analysis and Industry Forecast, 2018 - 2025|
|Published: March 31, 2019||Content info: 284 Pages; 126 Tables; 58 Charts||
by Technology and Services (Knowledge Management Tools, Bioinformatics Platforms, and Bioinformatics Services), Application (Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics, and Others), and Sector (Medical Bioinformatics, Animal Bioinformatics, Agriculture Bioinformatics, Academics, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025.
The global bioinformatics market generated $6,389 million in 2017, and is projected to reach $18,233 million by 2025, growing at a CAGR of 13.8% from 2018 to 2025.
Bioinformatics is a combination of biology and information technology, which links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, including biomedicine. It uses software tools for database creation, data management, data warehousing, data mining, and others. Mining these data leads to scientific discoveries, which is used in the study of genetics & genomes. Several bioinformatics tools are available in the market. They are categorized as protein functional & analysis tools, homology & similarity tools, sequence analysis tools, and miscellaneous tools. The field covers many advanced and specialized areas of life such as structural genomics, functional genomics, DNA microarrays, comparative genomics, medical information, and others. Hence, these aforementioned factors helps in increasing the global bioinformatics market share.
The global bioinformatics market is expected to register substantial growth in the near future, owing to rise in need for integrated data, growing demand for nucleic acid & protein sequencing due to reduction in sequencing cost, and increase in applications of proteomics & genomics. In addition, drug discovery & development and initiatives from government & private organizations are expected to boost the market growth during the forecast period. However, lack of skilled personnel, common data formats, and lack of user-friendly tools at cheaper prices are projected to hamper the market growth during the forecast period. Conversely, increase in need for integrated solutions & systems, integration of machine learning & AI in healthcare, and software companies are investing in the development of bioinformatics solutions are expected to offer remunerative bioinformatics market opportunity to bioinformatics solution developers.
Based on technology and services, the bioinformatics market is segmented into knowledge management tools, bioinformatics platforms, and bioinformatics services. The bioinformatics platforms segment was the major revenue contributor in 2017, and is anticipated to continue this trend during the forecast period, owing to increase in platform applications and need for better tools in drug development. Increase in platform application is attributed to surge in need from the life science firm for the identification and modification of structures. This in-turn would help in the drug designing process and evaluation of their therapeutic effects. Furthermore, efficiency and safety in drug development and discovery leads to increased need for better tools in drug development. Thus, helps in increasing the bioinformatics market size in the near future.
Depending on application, the bioinformatics market is categorized into metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics, and others. The transcriptomics segment is projected to exhibit the highest growth during the forecast period, owing to increased preference in companion diagnostics and personalized medicines. Moreover, novel gene sequencing, continuous discovery of biomarkers, and worldwide acceptance of transcriptomics technology are expected to drive the bioinformatics market growth.
Region wise, the bioinformatics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2017, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to upsurge in adoption of advanced technology and increase in demand for better bioinformatics tools, which are required in the drug discovery and development process. The market in LAMEA is expected to grow at the highest CAGR during the forecast period, due to advancement in the field of genomics and proteomics, generating massive volume of data, which is to be interpreted and managed. In addition, the bioinformatics sector is still in its infancy stage in the region where research activities are developing gradually. Thus, all these factors together contribute toward the growth of the market.
The report provides a comprehensive analysis of the key players operating in the global bioinformatics industry, namely, Agilent Technologies, Inc., Geneva Bioinformatics (Genebio), Dassault Systems, Eurofins Scientific, Illumina Inc., Bruker Daltonics Inc., Biomax Informatics AG, Perkinelmer Inc., Qiagen N.V, and Thermo Fisher Scientific, Inc. The other players in the value chain include Accelrys, Inc., Affymetrix, Inc., SA Nonlinear Dynamics, Quest Diagnostics, Inc., and others.