Bioinformatics Market is Expected to Grow at a CAGR of 16.4% From 2018 - 2022 a Report by TheBusinessResearchCompany

LONDON, Aug. 8, 2019 /PRNewswire/ -- Companies in the bioinformatics market are increasingly investing in the research and development of nanopore sequencing technology. Nanopore sequencing is a single molecule DNA sequencing technology which eliminates the need for Polymerase Chain Reaction or chemical labelling of the sample. This technology passes ionic current through nanopores (a pore of nanometer size), and when the biological molecules pass through the nanopores or near the nanopores, this technology measures the changes in current which can be used to identify the molecule. Nanopore sequencing technology offers high throughput, low cost, longer reads (Sequence of a section of a unique fragment) to the analyst and helps in the collection of data which is an essential part of bioinformatics. For instance, in March 2018, Oxford Nanopore Technologies raised $140 million for commercial expansion and support for further research and development in the area of nanopore technology. Also, in October 2018, biotechnology company Amgen invested $66 million in the company.

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Protein Sequencing Will Drive The Global Bioinformatics Market

The global bioinformatics market was valued at about $7.58 billion in 2018 and is expected to grow to $14 billion at an annual growth rate of about 16% through 2022. Increasing demand for protein sequencing is driving growth in the bioinformatics market. Protein sequencing refers to the process of determining the sequence of amino acids in all or part of the proteins present in DNA, based on which specific functions, activities, origin or localization of the protein is determined. Protein sequencing helps analysts to understand the distribution of amino acids along the sequences and the structure of proteins. With bioinformatics methods and databases, the capacity, structure and developmental history of proteins can be effectively identified. The demand for protein sequencing is expected to grow on account of factors such as advancemes in clinical mass spectrometry and analytical techniques, and significant adoption of target-based drug development by pharmaceutical and biotechnology companies. For instance, in 2015, the total number of protein sequences in UniProtKB, which is a freely accessible database of protein sequence and functional information, increased by over 325% from 2012.

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Regulatory Bodies Governing The Indian Bioinformatics Market

The bioinformatics market is governed by various regulatory bodies for quality and compliance of bioinformatics platforms. For instance, in India, the Biotechnology Industry Research Assistance Council (BIRAC), set up by Department of Biotechnology (DBT), Government of India, regulates the bioinformatics market. BIRAC introduces Technology Readiness Levels (TRLs) as a measure of estimating the maturity of technology while in the evaluation phases until these technologies are complete to be offered commercially. The TRL scale provides 9 technology readiness levels with TRL1 being the stage when the technology is ideated, and TRL9 being the stage when the technology is ready for commercial use. The manufacturers have to get past TRL9 to have their product available commercially and ready to be marketed. These TRL's consist of various levels of compliance and processes that the manufacturers must adhere to. The bioinformatics platform is evaluated for quality, feasibility, data privacy and protection as per international standards.

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