Bioinformatics Market Trends, Analysis, Growth and Forecasts to 2024: Hexa ResearchA Chapter by Markets InsightsThe 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 global Bioinformatics Market is
projected to expand at a CAGR over 21% during
the forecast period (2014 to 2020). In revenue terms, the industry could reach
nearly USD 14 billion by 2020. It is
propelled by growing demand for advanced drugs and prevalence of chronic
diseases. Application of information technology for the effective management of
biological information is known as bioinformatics.
Affordable costs of DNA sequencing and strong support from private
sector organizations & governments are factors that positively impact the
global industry. Furthermore, steady developments in IT support for
bioinformatics systems may fuel market demand in the forthcoming years. A
number of research institutes focus greatly on discovering & developing
novel drugs in the area of life sciences. Widespread adoption of bioinformatics
in clinical diagnostics is a vital industry driver.
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The global bioinformatics market is segmented on the basis of sectors,
products & services, applications, and regions. Based on sectors, the
industry is divided into environment biotechnology, animal biotechnology,
forensic biotechnology, agriculture biotechnology, academics, forensic
biotechnology, and medical biotechnology. The forensic biotechnology segment is
a rapidly growing one because of high demand for DNA evidence in legal systems.
The sub-segments of medical biotechnology are reproductive
biotechnology, clinical diagnostics, drug development, gene therapy, and
molecular medicines. Owing to high sunk costs, medical biotechnology holds the
highest share in the overall market in terms of revenue. According to products
& services, the worldwide industry is categorized into bioinformatics
services, bioinformatics platform, and bioinformatics knowledge management
tools. Bioinformatics tools are further segmented into generalized knowledge
management tools and specialized knowledge management tools. Bioinformatics platforms
include sequence alignment platforms, sequence analysis platforms, functional
& structural analysis platforms, and sequence manipulation platforms.
Bioinformatics services are classified into database management,
sequencing service, data analysis, and others. Data analysis and database
management are by far the most expensive because of these need human
intervention for interpretation and technology for data organization. On the
basis of applications, the global Bioinformatics Market is divided into
molecular phylogenetics, proteomics, metabolomics, chemo informatics & drug
design, transcriptomics, and others. Genomics is anticipated to be the largest
market by 2020. And metabolomics may register the highest growth rate during
the forecast period.
The regional segments of the global Bioinformatics Market are Asia
Pacific, North America, Europe, and Rest of the World. North America dominated
the overall industry in 2014 owing to technological developments and continuous
efforts towards drug discovery & development. The region may retain its
leading position throughout the forecast period. Asia Pacific may expand at a
remarkable rate because of medical tourism, high investments in healthcare IT,
and greater CRO activities. Brazil, China, and India could create significant
growth prospects in the forthcoming years.
Prominent companies operating in the global industry are Life Technology
Corporation, Biomax Informatics AG, CLC Bio, Id Business Solutions, and
Nonlinear Dynamics Ltd. In order to understand & block the progression of
cancer, researchers have identified certain proteins that get altered in
different types of cancers. When these are targeted with drugs that block their
activities, the progression of cancer can be halted to an extent. Researchers
& scientists from the University of Cambridge and from Hungary utilized
databases of genes that are involved in cancer.
It was observed that cancer related proteins are strongly connected to
the main protein networks. Some of the key proteins in the networks have the
capacity to facilitate changes that convert healthy cells into cancer cells.
The cancer proteins do not interact directly with another but through their
surrounding first neighbors. The concerned researchers have successfully utilized
computational methods to identify the exact proteins that need to be targeted
by drugs.
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Added on February 17, 2017 Last Updated on February 17, 2017 Tags: bioinformatics market, bioinformatics market share, bioinformatics market size, bioinformatics market analysis, bioinformatics market trends, bioinformatics market growth AuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research 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 c.. more..Writing
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