Bioinformatics Market | Number of Collaborations Between Companies and Research Instituteby Sasha Sharma Industry Analyst | Blogger
- The global bioinformatics market is expected to account for USD 7,063.7 billion in 2018. It is expected to reach USD 13,901.5 billion by 2023, at a CAGR of 14.5% during the forecast period.
1. Growing Demand for Nucleic Acid and Protein Sequencing Due to Reduction in Sequencing Cost and Technological Advancement
2. Initiatives From Government and Private Organizations
3. Growing Applications of Bioinformatics
4. Number of Collaborations Between Companies and Research Institutes
By the Applications, the market is primarily split into : Genomics, Proteomics & Metabolomics
By the Sectors, the market is primarily split into : Medical, Academics, Agriculture
Growth of the bioinformatics market is driven by the growing demand for nucleic acid and protein sequencing, increasing government initiatives and funding, and increasing use of bioinformatics in drug discovery and biomarker development processes. With the introduction of upcoming technologies such as nanopore sequencing (third generation sequencing technique) and cloud computing, the market is expected to offer significant opportunities for manufacturers of bioinformatics solutions.
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Knowledge management tools commanded the largest market share in the global bioinformatics market in 2018, while the bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast period. The major factor driving growth of bioinformatics platforms is their growing use in various genomic applications.
Factors such as the availability of research funding and government support are fueling market growth. However, metabolomes cannot be easily identified or figured from reconstructed biochemical pathways due to enzymatic diversity, substrate ambiguity, and difference in regulatory mechanisms. Hence, the annotation of unknown metabolic signals is the main hindrance to growth of the metabolomics segment.
The report claims to split the Regional Scope of the Bioinformatics Market into
- Asia-Pacific (Japan, China, India, RoAPAC)
- North America (US and Canada)
- Europe (Germany, France, UK and RoE)
- Rest of World
The bioinformatics market is well established due to dominance of prominent market players such as Thermo Fisher Scientific, Eurofins Scientific, Illumina, Perkinelmer, Inc., Qiagen Bioinformatics, Agilent Technologies, Dnastar, Waters Corporation, Sophia Genetics, Partek, Biomax Informatics AG, Wuxi Nextcode, Beijing Genomics Institute (BGI)
Key Questions Addressed by the Report:
- Who are the major market players in the bioinformatics market?
- What are the growth trends and the largest revenue-generating region for bioinformatics?
- How are bioinformatics products and services sold to customers?
- What are the major segments in bioinformatics market?
- What are the driving, restraining, opportunistic, and challenging factors for this market?
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Created on Jul 15th 2020 07:00. Viewed 164 times.