Global Bioinformatics Market is valued at approximately USD 8.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.4% over the forecast period 2020-2027. Bioinformatics is a fusion of biology and information technology, which combines biological data with techniques for information storing, distribution, and assessment to support manifold areas of scientific research, involving biomedicine. Also, it is widely used in the management of biological data in the field of medical research and drug development. More often, bioinformatic utilizes computer software tools for database creation, data mining, data warehousing, data management, and communication networking. Thus, bioinformatics is gaining wide acceptance, as massive amount of data generated through this technique, which required for potential researched and medical purposes. Furthermore, the emergence of user-friendly and readily available bioinformatics software, including RasMol, AUTODOCK, BALL, etc., and surging utilization of these tools for precise and efficient evaluation of biomarkers discovery programs are likely to drive the market growth during the forecast years.
Moreover, the surging amount of funds on drug discovery and development, coupled with the rising utility for protein sequencing and nucleic acid due to decreased sequencing costs are the few factors responsible for the high CAGR of the market during the forecast period. For instance, the Indian government initiative ‘Pharma Vision 2020’ has a goal for making India a major hub for drug discovery. To accomplish this initiative, the Indian government invest a worth of USD 942.8 million funds in 2020, to build three mega drug parks to drive sustainable cost-effectiveness. Similarly, in May 2020, the U.S. government signed a USD 354 million four-year contract with Phlow Corp., a new pharma company, to expand the production of drugs or medications in the country. This, in turn, is expected to strengthen the market growth all over the world. However, the lack of well-characterized standards and ordinary data formats for incorporation of data is the major factors restraining the market growth over the forecast period of 2020-2027.
Click Here to Download Sample Report >> https://www.sdki.jp/sample-request-111649
The regional analysis of the global Bioinformatics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in initiative on drug discovery and development & genomic research, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the high adoption of IoT technologies in biopharma industry, coupled with the growing government funding on drug development in developing countries, such as China and India, would create lucrative growth prospects for the Bioinformatics market across the Asia-Pacific region.
Major market player included in this report are:
Agilent Technologies, Inc.
Biomax Informatics AG
Intrexon Bioinformatics Germany GmbH
Seven Bridges Genomics, Inc.
Thermo Fisher Scientific, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology & Services:
Knowledge Management Tools
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.