The global Bioinformatics Market is likely to grow at a whopping 19.8 CAGR between 2016- 2022, according to the new report by Market Research Future (MRFR). Bioinformatics, simply put, is a combination of biology & information technology that links biological data with the different techniques for distribution, information storage, and analysis for supporting various areas of scientific research, which also includes biomedicine. Bioinformatics utilizes software tools for data mining, data warehousing, data management, database creation, and others. Agriculture bioinformatics, animal bioinformatics, medical bioinformatics, and others are some of its major end users.
Various factors are propelling the global bioinformatics market growth. According to the new MRFR report, such factors include improved collaborations between research institutes and companies, increasing initiatives made by private and government organizations, burgeoning demand for protein sequencing and nucleic acid, increasing funds from the government, and growing use of bioinformatics in biomarker development process & drug discovery. Besides, the introduction of the latest technologies, such as cloud computing and nanopore sequencing, is also adding market growth. Besides, the biopharmaceutical innovators are preparing a viable vaccine for the novel coronavirus and are also investing a good amount of funds into the research and development to tackle the COVID-19 pandemic, which is likely to add to the market growth.
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Key Players
Key players profiled in the global bioinformatics market report include Dassault Systèmes, Thermo Fisher Scientific Inc., QIAGEN, Illumina, Inc., and Agilent Technologies. Industry players have incorporated several strategies to create a niche in the market, such as mergers, acquisitions, new product launches, joint ventures, and more.
Segmentation:
The MRFR report gives an inclusive segmental analysis of the global bioinformatics market report based on application, technology and services, and sector.
By application, the global bioinformatics market is segmented into metabolomics, proteomics, molecular phylogenetics, transcriptomics, drug design, chemoinformatics, genomics, and others. Of these, the metabolomics segment will lead the market over the forecast period.
By technology and services, the global bioinformatics market is segmented into sequence manipulation, sequence analysis, data warehousing, and others.
By sector, the global bioinformatics market is segmented into agriculture bioinformatics, animal bioinformatics, medical bioinformatics, and others. Of these, the medical bioinformatics segment will have a major share in the market over the forecast period.
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Regional Analysis:
The bioinformatics market’s regional appraisal includes regions such as Africa, Europe, the Middle East, North America, and the Asia Pacific. The Americas’ bioinformatics market advances as the global market leader due to expanding healthcare expenses, mounting the biotechnology sector, and incidence of the advanced technologies within the region. The European bioinformatics market is following the Americas region in the market. The Asia Pacific regional bioinformatics market is the fastest developing region due to emerging markets like India and China, which amplify their healthcare expenses in the biotechnology sector. The Middle Eastern region and Africa have the minimum market share, particularly due to underprivileged economies in the African region. The Middle Eastern region commands the regional bioinformatics market due to the occurrence of established economies like Qatar, Kuwait, and others within the region.
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