Global Bioinformatics Market Valued at Over $1.3 Billion in 2013 and is Expected to Grow at CAGR of 20.3% From 2014 to 2020: Hexa Research

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Hexa Research, Inc

Sep 01, 2015, 08:45 ET

FELTON, California, September 1, 2015 /PRNewswire/ --

The global Bioinformatics Market is segmented on the basis of sectors, products & services and application. And the rising incidences of chronic diseases globally coupled with the increasing demand of advanced drugs for the diagnosis of these diseases are expected to propel the growth for bioinformatics market. The implementation of information technology to manage biological information efficiently is known as bioinformatics. Decreasing cost of DNA sequencing, continuous advancement in information technology support for bioinformatics devices and increasing aids from government & private sector organizations for bioinformatics are some of the key factors which are triggering the growth of bioinformatics market over the forecast period. Apart from these, the factors like increasing initiatives by research institutions for discovery of novel drugs in life science and significant growth in usage of bioinformatics in the field of clinical diagnostics are few supporting drivers of this market. Bioinformatics include genome annotation, gene sequence analysis, cancer mutation analysis, gene expression analysis, gene regulation analysis, protein expression analysis, comparative genomics and system biology.

Browse full research report with TOC on "Bioinformatics Market Analysis (By Sectors, Products & Services and Application), Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts 2014 to 2020 " at : http://www.hexaresearch.com/research-report/bioinformatics-industry/

Continuous up-gradation in technology like cloud computing and nanopore technology has created a huge platform for storing, retrieving, analyzing, manipulating and organizing biological information. Adoption of computer technology for managing biological information also helps in developing drug and manage huge database associated which its discovery.

On the basis of sector, market is further classified into medical biotechnology, animal biotechnology, academics, agriculture biotechnology, forensic biotechnology, environment biotechnology and others. Medical biotechnology is further divided into drug development, molecular medicines, clinical diagnostics, gene therapy and reproductive biotechnology. Forensic biotechnology is the fastest growing segment owing to increasing demand for DNA as evidence in our legal system. Medical biotechnology is contributing highest share in the entire bioinformatics sector market due to involvement of huge sunk cost.

On the basis of products and services, bioinformatics market is divided into bioinformatics knowledge management tools, bioinformatics platform and bioinformatics services. Bioinformatics tool is bifurcated into specialized knowledge management tools and generalized knowledge management tools. Bioinformatics platforms is further classified into sequence analysis platforms, sequence manipulation platforms, sequence alignment platforms, structural & functional analysis platform, whereas bioinformatics services is classified into sequencing service, data analysis, database management and other services. Among all the mentioned sub segments, database management and data analysis is the critical and expensive part owing to involvement of technology for organizing data and humans for interpretation.

Geographically, North America was the most dominant region in entire bioinformatics market, in 2014. Due to increasing adoption of latest technology, and continuous discovery & development of drugs, this market is expected to maintain its lead by 2020. Asia Pacific region is anticipated to show highest growth during the forecast period owing to the rapid increase in CRO activities, huge investment for introduction of IT in healthcare, growing medical tourism and growing academic and industry partnership. Countries like India, China and Brazil is expected to provide significant growth opportunities owing to increasing research outsourcing by pharmaceutical giants of developed nations.

Browse related reports by Hexa Research: 

About Hexa Research: 

Hexa Research Inc. is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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SOURCE Hexa Research, Inc

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