- 18 March 2019 23:18
The Reason Behind Rapid Growth of Bioinformatics Market is Growing Application of Bioinformatics in Drug Discovery and Development etc.
Bioinformatics is use of information technology in biotechnology for data storage, data warehousing, and analyzing DNA sequence. Bioinformatics is an interdisciplinary field that develops and improves upon methods for storing, retrieving, organizing, and analyzing biological data.
The major factor driving growth of the global Bioinformatics Market is growing application of bioinformatics in drug discovery and development, forensics analysis, antibiotics resistance, etc. In addition, increasing data owing to development of new personalized medicines and clinical diagnostics, and rising need of integrated systems in study of proteomics and genomics are other factors expected to fuel growth of the global bioinformatics market.
The Bioinformatics Market is segmented on the Basis of services, applications and regions. On the basis of services, the global market is segmented into Knowledge Management Tools, Bioinformatics Platforms and Bioinformatics Services. The Bioinformatics Platforms segment accounts for highest revenue share and is expected to witness significant growth during the forecast period.
On the basis of applications, the global market is segmented into Transcriptomic, Proteomics, Genomics and Others. The Transcriptomic segment is expected to account for highest market share in the global market and expected to witness highest growth in terms of revenue during the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The market in Asia Pacific accounts for highest share in terms of revenue in the global market. The Asia Pacific market is expected to witness highest growth in terms of revenue over the forecast period.
Key players in the global market include Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN N.V., Agilent Technologies, Inc., Affymetrix Inc., 3rd Millennium, Inc., Biomax Informatics AG, DNAnexus, Inc., Waters Corporation.