According to the market research report “Bioinformatics Market Analysis -By Products (Bioinformatics Platforms, Knowledge Management Tools, Services) By Applications (Genomics, Proteomics, Transcriptomics, Metabolomics, Drug Design) By Sector (Clinical Diagnostics, Gene Therapy) –Forecast (2016-2021)”, published by IndustryARC, the global bioinformatics market is estimated to reach $15.91 Billion by 2021.
Browse 35 Market Tables, 61 Figures spread through 227 slides and an in-depth TOC on “Bioinformatics Market”
Bioinformatics is an interdisciplinary field that improves the exisitng methods and software tools for understanding the biological data and covers computer science, statistics, mathematics, and engineering to analyse and interpret the biological data. It is currently an emerging field which deals with the application of computers for collecting, organising, analysing, presenting and manipulating biological problem on the molecular level. Bioinformatics market can be broadly segmented into, genomics, proteomics, transcriptomics, metabolomics, molecular phylogenetics, chemoinformatics & drug design and others. The global market size is estimated to reach $15.91bn by 2021 at a CAGR of around 20.83% according to a recent report from IndustryARC.
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Bioinformatics have a wide range of products such as bioinformatics platforms, knowledge management tools and services. There are disparate sectors, which use bioinformatics in order analyse biological statistics, which include companies in the medical sector, drug development, clinical diagnostics, molecular medicine, gene therapy, reproduction biotechnology, animal bioinformatics and so on. Among all the sectors, gene therapy has the highest estimated CAGR of 26.5% for the forecast period 2016 to 2021. Clinical Diagnostics sector held the majority share in the overall market for 2015, accounting for almost 14%, which was followed by medical and drug development segments with a share of 10% respectively.
The global market size in 2015 was $4.94 billion and is dominated by America, which is poised to exhibit the fastest growth due to estimated increase in healthcare expenditure as well as in drug development by major pharmaceutical companies. The U.S. is the largest bioinformatics market with a share of 74% in 2015. The APAC region is however anticipated to grow at a CAGR of 25.3% during the forecast period 2016 to 2021.
The number of manufacturers across the world for Bioinformatics has increased manifold. These manufacturers are aggressively participating in scaling up their position in the market and are able to attract profitable deals. Some of the major players are:
- Illumina Inc.
- Qiagen NV
- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- Waters Corp.
The overall bioinformatics market is characterized by large number of companies but top three companies account for 68% market share currently due to the wide range of client agreements and brand reputation. Advancement in genetics and technological development in data analytics and cloud computing have supported the growth of Bioinformatics market.
The report provides extensive analysis on the different types of tools and services such as:
- Bioinformatics platforms
- Knowledge management tools (General, specialized)
- Services (Sequencing, Data analysis, data management)
The following sectors or end user segments have also been coveed in the report:
- Medical bioinformatics
- Drug development
- Clinical diagnostics
- Molecular medicine
- Gene therapy
- Reproductive biotechnology
- Agricultural bioinformatics
- Animal and Livestock
The market has also been analyzed for four geographic regions, which include Americas, APAC, Europe and Rest of the World.
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