DUBLIN--(BUSINESS WIRE)--The "Bioinformatics Services Market by Type (Microbiome, Transcriptome, Virtual Screening, Database Management), Specialty (Medical, Forensics), Application (Proteomics, Metabolomics), End User (Academia, Pharma) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global bioinformatics services market is projected to reach USD 3.53 billion by 2023 from USD 1.70 million in 2018, at a CAGR of 15.7%.
Factors such as increasing applications of bioinformatics in various industries, the shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects, and rising public-private sector funding for bioinformatics services are expected to propel the growth of this market. However, the in-house development of bioinformatics solutions and publically available bioinformatics tools are expected to restrain the growth of the bioinformatics services market in the forecast period.
The bioinformatics services market, by specialty, is segmented into medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology segment is expected to command the largest share of the bioinformatics services market in 2018. The largest share of this segment can be attributed to the development of new databases for drug discovery, the use of bioinformatics for clinical diagnostics, and increasing funding for the development of bioinformatics solutions for clinical diagnostics.
On the basis of end user, the bioinformatics services market is segmented into academic institutes and research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and other end users. The academic institutes and research centers segment is estimated to witness the highest growth during 2018-2023. Increasing scale of genomics research, rising number of collaborations between academic research institutes and players in the bioinformatics market, growing number of government funding programs for genomics research, and the increasing focus of market players on providing efficient bioinformatics services that suit the requirements of researchers are some of the major factors driving the growth of this segment.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Bioinformatics Services Market, By Type
7 Bioinformatics Services Market, By Specialty
8 Bioinformatics Services Market, By Application
9 Bioinformatics Services Market, By End User
10 Bioinformatics Services Market, By Region
11 Competitive Landscape
12 Company Profiles
- CD Genomics
- Eurofins Scientific
- FIOS Genomics
- Medgenome Labs
- Qiagen Bioinformatics
- Source Bioscience
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/research/v9nc3c/3_5_billion?w=4