DUBLIN--(BUSINESS WIRE)--The "Bioinformatics Market by Technology & Services, Application, and Sector: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global bioinformatics market generated $8,614.29 million in 2019, and is projected to reach $24,731.61 million by 2027, growing at a CAGR of 13.4% from 2020 to 2027.
Bioinformatics is the combination of information technology, statistics, molecular biology, and algorithms to analyze the data obtained from various experiments. It includes collecting biological data, preparation of a computational model, solving computational modeling problems, and evaluating of computational algorithm. Bioinformatics uses computation to extract knowledge from biological data, which can be used in drug discovery and developments.
The global bioinformatics market is expected to register substantial growth in the near future, owing to the rise in the need for integrated data and an increase in applications of proteomics & genomics. In addition, drug discovery & development is expected to boost market growth during the forecast period. However, the lack of skilled personnel and common data formats is projected to hamper market growth during the forecast period. Conversely, an increase in the need for integrated solutions & systems is expected to offer lucrative opportunities for market players.
The global bioinformatics market is segmented based on technology & services, application, sector, and region. By technology, the market is categorized into knowledge management tools, bioinformatics platforms, and bioinformatics services. Based on the application, it is classified into metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics, and others. Depending on the sector, it is segregated into medical bioinformatics, animal bioinformatics, agriculture bioinformatics, academics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global bioinformatics market is provided.
Market Dynamics
- Rise in Need for Integrated Data
- Increase in Growth in Proteomics & Genomics
- Drug Discovery and Development
- Lack of Skilled Personnel
- Common Data Formats
- Increase in Need for Integrated Solutions & Systems
Key Market Players
- Agilent Technologies, Inc.
- Biomax Informatics AG
- DNAnexus, Inc.
- Genedata AG
- Intrexon Bioinformatics Germany GmbH
- Illumina Inc.
- Perkinelmer Inc.
- Qiagen N.V.
- Seven Bridges Genomics Inc.
- Thermo Fisher Scientific, Inc.
Other Players
- Geneva Bioinformatics (Genebio)
- Dassault Systems
- Eurofins Scientific
- Bruker Daltonics Inc.
- Accelrys, Inc.
- Affymetrix, Inc.
- SA Nonlinear Dynamics
- Quest Diagnostics, Inc.
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