The Global Market for Bioinformatics is Projected to Reach US$12.5 Billion by 2022

Widening Research Activity in the Omics Space Continues to Drive Demand for Bioinformatics, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Bioinformatics markets. The global market for Bioinformatics is projected to reach US$12.5 billion by 2022, driven by improving investments in drug discovery and research, advancements in technologies in the omics space comprising genomics, proteomics and metabolomics, growing use of high throughput screening technologies including nucleic acid sequencing and rapidly expanding application markets.

Bioinformatics is a concept involving the application of computer or information technology for acquiring, storing, organizing, analyzing, manipulating, archiving large scale data sets generated during "omics" experiments. Growing research activity in the areas of medicine, metabolomics, genomics transcriptomics and proteomics will continue to expand application possibilities of bioinformatics. The significant increase in Omics data volume is driving demand for bioinformatics computational tools and concepts that aid in modeling and prediction. The market also stands to gain from the expansion of bioinformatics beyond traditional application of plant breeding and drug discovery to consumer products such as food and beverages and cosmetics.

The pharmaceutical industry represents the most important end-use market, led by the complexity of data generated by molecular research studies, which make bioinformatics important for clinical laboratories for analyzing and interpreting data. Bioinformatics is also used in the identification and analysis of several biological drug targets and is therefore of immense value for pharmaceutical companies focused on drug pipeline expansion. The market for Next Generation Sequencing (NGS) bioinformatics is expanding at an encouraging pace, given the ability of NGS technologies to comprehensively analyze interactomes, transcriptomes and genomes. Large volumes of data generated from the use of NGS technology drives the need for advanced computational algorithms to analyze and provide actionable insights to accelerate translational medicine. Biocontent represents the dominant market segment, while software ranks as the fastest growing market. Cloud based bioinformatics is gaining demand as a potential solution to address various challenges associated with storage, management and analysis of big data.

As stated by the new market research report on Bioinformatics, the United States represents the largest and the fastest growing market worldwide supported by the widespread adoption of advanced technologies in the area of drug discovery. Asia-Pacific ranks as the second fastest growing market with a CAGR of 12.5% over the analysis period led by factors such as expansion of biotechnology and pharmaceutical industries; growing government investments, grants and funds in research; and emergence of countries such as China and India as outsourcing destinations for bioinformatics.

      

Major players covered in the report include Agilent Technologies, Dassault Systèmes, ID Business Solutions Ltd., Instem plc, Life Technologies, Illumina Inc., Kinexus Bioinformatics Corporation, Nonlinear Dynamics Ltd., Ocimum Biosolutions Ltd., PerkinElmer Inc., QIAGEN N.V., Strand Life Sciences, and Thermo Fisher Scientific, Inc. among others.

The research report titled "Bioinformatics: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, and strategic industry activities of major companies worldwide The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analysed in the report include Software (Bioinformatics), Biocontent (Bioinformatics) and Hardware (Bioinformatics).

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