Global Bioinformatics Market: Overview
Bioinformatics is employed for the purpose of managing the data gathered from the research and development projects in biopharmaceutical, life science, and biotechnology industries. The growth of the bioinformatics is being augmented by the rising application of IT in the healthcare sector along with robust technological advancements. The employment of information technology or IT has enabled easy storage, processing, access, retrieval of data. Additionally, the demand advanced treatment of several diseases and effective preventive solutions are continuously rising. With the rising demand for advancement in the technology used for treatment of several diseases, many healthcare professionals are perpetually focusing on research and development projects. Furthermore, the growth in R & D activities has led to a rise in data generation, thus increasing demand for an efficient technology for data management in the healthcare sector.
The adoption of bioinformatics is extensively increasing in the field of biosciences owing to advancement in IT and demand for enhanced and better prevention options and treatment. The growing application of bioinformatics across the healthcare sector is expected to aid the growth of the global bioinformatics market in the near future. Furthermore, bioinformatics has application in fields such as molecular medicine, preventive medicine, gene therapy, and drug development among others. Some of the other application areas comprise forensic analysis of genetic research for antibiotic resistance, veterinary science, and microbes.
The global bioinformatics market is projected to grow at a significant CAGR during the forecast period and is likely to touch a valuation of US$9.1 bn by 2018.
Bioinformatics Platforms to Lead Market
The global bioinformatics market has been segmented into services, content management tools, and platforms. These are commercially available for the purpose of processing the data gained from various research and development projects effectively employing bioinformatics. In terms of consumption, the bioinformatics platform emerged dominant in 2013 accounting for the leading share in the global market for bioinformatics. The growth can be attributed to the rising employment in bioinformatics in the process of drug discovery and rising research and development activities. However, the bioinformatics services sector is likely to dominate the market in terms of growth until 2020. In terms of application, the market is expected to be led by the segment for molecular medicine.
Developed Regions to Retain Dominance
At present, the global bioinformatics market is dominated by North America closely trailed by Europe. The factors driving the growth of the market in these regions is the heavy research and development investment, high adoption of new and advanced technology, well-structured regulatory outline, and prevalence of developed technology. Nevertheless, Asia Pacific is expected to emerge as a lucrative region for the growth of the bioinformatics market. The market is likely to grow in the region owing to factors such as growing literacy rate, increasing awareness regarding bioinformatics among consumers, increase in funding, and rising government funding and initiative for R&D. As compared to the African countries, Latin America is likely to exhibit strong growth rate between 2014 and 2020.
Some of the leading companies in the global bioinformatics market are Accelrys Inc., ID Business Solutions, Ltd., Affymetrix Inc., CLC bio A/S, Agilent Technologies Inc., GenoLogics Life Sciences Software, Inc., Life Technologies Corporation, and Illumina, Inc.
Perpetually advancing information technology (IT) and thereby expansion of application area of information technology into biotechnology and life science industry is escalating the growth of the bioinformatics market globally. Bioinformatics is widely used in recording, processing, and converting the data obtained from research and development activities related to life sciences namely, biotechnology, biopharmaceutical, pharmaceutical and agricultural fields; into computerized digital data that can be later used to expedite further research. This report covers the market analysis for various platforms, tools, and services commercially available in bioinformatics technology that helps deliver advanced information technology to ever growing life science fields such as molecular biology, genetics, biotechnology, biopharmaceuticals, and other life sciences.
This research report provides a detailed analysis of the global bioinformatics market and helps in understanding the various driving factors for the growth of the market. The market overview section of bioinformatics market report includes market dynamics and trends, which are further divided into factors such as drivers, restraints, and opportunities that influence the current nature and future status of bioinformatics market globally. These factors together give a thorough analysis of the overall competitive scenario in the global bioinformatics market. Impact factors such as market attractiveness analysis (by geography), market share analysis by key players and Porter’s five forces (bargaining power of suppliers, bargaining power of buyers, threat of substitutes, threat of new entrants and competitive rivalry) analysis have also been explained in the market overview section of the report. Further, this report includes average selling price analysis (in terms of USD) and value chain analysis of bioinformatics market.
The global bioinformatics market is classified based on platforms, tools and services. The platforms segment includes market analysis of sequence manipulation platforms, sequence alignment platforms, sequence analysis platforms and structural analysis platforms. Tools market includes analysis for general knowledge management tools and specialized knowledge management tools. The services segment includes market analysis of sequencing services, database and management services, data analysis services and other services. A thorough market analysis and forecast for these segments has been provided in this study, in terms of market revenue (USD million) for the period 2012 to 2020. The report also provides compounded annual growth rate (CAGR %) for each segment type for the forecast period of 2014 to 2020, while market size estimations have been made considering 2013 as the base year.
Further, the global bioinformatics market is classified into applications namely, preventive medicine, molecular medicine, gene therapy, drug development and others. The present and future market sizes (in terms of USD million) of the above mentioned application segments have been given in the report for the period of 2012- 2020 along with their compound annual growth rate (CAGR %) for the period 2014 to 2020. The study further provides recommendations that would be useful for the current and future market players to sustain and grow in the global bioinformatics market.
The report further includes market analysis of regional markets namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). A thorough market analysis and forecast for these regional markets has been provided in this study, in terms of market revenue (USD million) for the period 2012 to 2020. The report also provides the compounded annual growth rate (CAGR %) for each regional market for the forecast period of 2014 to 2020, while market size estimations have been made considering 2013 as the base year.
This report concludes with the company profiles section, which includes key information about the major players in this market. Some of the key players profiled in this report include Accelrys, Inc., Affymetrix, Inc., Agilent Technologies Inc., CLC bio A/S, GenoLogics Life Sciences Software, Inc., ID Business Solutions Ltd. and Illumina, Inc.