Bioinformatics Market Share, Trend Analysis & Forecast, 2019–2028
Bioinformatics is an interdisciplinary research area seen between biology and computational sciences. Being combination of different branches of life sciences the major objective of bioinformatics is to develop methodologies and tools to study biological data in order to organize, store, systematize, visualize, annotate, query, understand and interpret those data. The bioinformatics is majorly based on algorithmic and computational base to develop tools and methods for tackling bioinformatics problems. The large amount of data produced in the field of molecular biology deals with structural and functional aspects of genes and proteins where bioinformatics has crucial role for analysis. This bioinformatics software has an important role in discoveries as well as help companies save time and money in the long run. Moreover, reasons for bioinformatics being emerging field is the old supply and demand adage to manage large amounts of data. Therefore increasing use of bioinformatics in discovery and development processes is fueling the growth of global bioinformatics market
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BIOINFORMATICS MARKET REPORT OUTLOOK
The global bioinformatics market is anticipated to grow significantly during the forecast period owing to growing use of bioinformatics in drug discovery and bio markers development processes as developing countries has most number of deaths from infectious diseases which can be encountered by developing cheap and efficient drugs for a disease and can be solved by rational drug design using Bioinformatics. Besides increasing government initiatives and funding is further driving the growth of global bioinformatics market
COVID 19 IMPACT ON BIOINFORMATICS MARKET REPORT
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the bioinformatics market. In addition, complete analysis of changes on the bioinformatics market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the bioinformatics market was moderate as research and development was majorly focused on understanding how the virus triggers such different results. Thereby COVID-19 has created opportunity for bioinformatics market
BIOINFORMATICS MARKET SEGMENTAL OVERVIEW
The bioinformatics market is segmented based on by product type, by service, by sector, by application and geography
BIOINFORMATICS MARKET BY PRODUCT TYPE
The bioinformatics are available in different product types including sequencing platforms, bioinformatics software and knowledge management tools
Knowledge management tools is expected to have highest growth and holds significant share in the global bioinformatics market. Besides, bioinformatics software is anticipated to witness fastest growth during the forecast period owing to increasing use of software in the drug discovery & development process. Also, growing application of genomic and availability of bioinformatics tools is helping in potential benefits of human genome project by identifying and the developing new treatments which is further propelling the demand for bioinformatics market.
BIOINFORMATICS MARKET BY SERVICE
Depending on service the bioinformatics market includes data analysis, sequencing and database integration.
Database integration has become a significant service in developing a variety of biomedical ontologies to deal in specific manner with the technicality. Moreover the service identifies the information that has to be shared and integrated across various resources. Whereas sequencing has led rapid advancements in next generation sequencing technologies and the consequently fast growing volume of biological data by a diversity of data sources which have been created to facilitate data management, accessibility, and analysis.
BIOINFORMATICS MARKET BY SECTOR
The bioinformatics are available for various sector including medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, forensic biotechnology
Medical biotechnology has major use according to sector due to innovating personalized medicine to analyse data from genome sequencing or microarray gene expression analysis in search of mutations or gene variants which could affect response to a particular drug or modify the disease prognosis. Moreover, bioinformatics has major role to identify the gene target site for each individual by taking their genetic profile into consideration.
BIOINFORMATICS MARKET BY APPLICATION
Bioinformatics has its major application in genomics, metabolomics, proteomics, transcriptomics, chemo-informatics & drug designing
Genomics leads in application attributing to nature and significance of differences between genomes also provides a powerful tool for determining the relationship between genotype and phenotype through comparative genomics and morphological and physiological studies. Moreover, genomics enables the application of information gained from simple model systems to agricultural and medical problems. Also, there is a growing demand for pharmacogenomics in drug development and sequence screening and the introduction of technological advancements. Whereas chemo-informatics is expected to holds significant share in global bioinformatics market owing to growing demand for biomarker discovery and development.
BIOINFORMATICS MARKET BY GEOGRAPHY
Geographically the global bioinformatics market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
North America is anticipated to lead in the global bioinformatics market owing to presence of countries like US and Canada play an important role for the growth of market. Whereas Europe is expected to have significant growth during forecast period. On the other hand, Asia Pacific is expected to be the fastets growing region attributed to increasing development IT sector and presence of skilled and trained bioinformaticians. In addition, supportive government policies is expected to drive the growth of this region during the forecast period.
BIOINFORMATICS MARKET KEY PLAYER
The key players in bioinformatics market are Thermo Fisher Scientific, Eurofins Scientific, Illumina, Perkinelmer, Inc., Qiagen Bioinformatics, Agilent Technologies, Dnastar, Waters Corporation, Sophia Genetics, Partek, Biomax Informatics AG, Wuxi Nextcode and Beijing Genomics Institute (BGI) among others.
BIOINFORMATICS MARKET RECENT DEVELOPMENT
January 2021: Illumina announced the launch of a new integrated bioinformatics solution called Illumina Connected Analytics (ICA). The comprehensive cloud-based data platform allows customers to manage, analyse, and explore large volumes of multi omic data in a secure, scalable and flexible environment
November 2020: Champions oncology had announced the launch of lumin bioinformatics, its new oncology data-driven saas program.
October 2018: BioExcel had launched the new ELIXIR Community in Structural Bioinformatics 3D BioInfo.
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