Bioinformatics Market is projected to reach USD 26.9 billion by 2024Posted by priya gupta on July 8th, 2019 Bioinformatics Market Size, Share, Growth The global bioinformatics market generated USD 11.1 billion in 2019 and is estimated to reach USD 26.9 billion by 2024, growing at a CAGR of 19.29% from 2019 to 2024. Bioinformatics Market Overview: The global bioinformatics market generated USD 11.1 billion in 2019 and is estimated to reach USD 26.9 billion by 2024, growing at a CAGR of 19.29% from 2019 to 2024. Bioinformatics is a mixture of biology and information technology that links biological data with techniques for data storage, distribution, and analysis to support multiple areas of scientific research, involving biomedicine. It utilizes software tools for information creation, data management, data warehousing, data mining, and others. Mining this information leads to scientific discoveries, which is employed in the study of genetics & genomes. Bioinformatics Market drivers and restraints: The global bioinformatics market is estimated to register substantial growth within the coming future, due to rise in requirement for integrated data, increasing demand for nucleic acid & protein sequencing because of the reduction in sequencing price, and rise in applications of proteomics & genomics. In addition to that, drug invention & development and initiatives from government & non-public organizations are estimated to fuel the market expansion throughout the forecast period. Nevertheless, the lack of versatile personnel, standard data formats, and lack of easy operating tools at cheaper costs are expected to hamper the market growth throughout the forecast period. To know more, click on the link below: https://www.marketdataforecast.com/market-reports/bioinformatics-market Report segmented as: By Technology:
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Geographical analysis of Bioinformatics Market: Based on geography, the bioinformatics market is segregated into North America, Europe, Asia-Pacific, and LAMEA. North America led the market in 2017, accounting for the highest share, and is estimated to maintain this trend during the forecast period. The market in LAMEA is expected to rise at the highest CAGR throughout the forecast period, owing to development in the field of genomics and proteomics, generating a massive volume of data that is to be interpreted and managed. Important Key players of Bioinformatics Market: Major players operating in the global bioinformatics industry are Agilent Technologies, Inc., Geneva Bioinformatics (Genebio), Dassault Systems, Eurofins Scientific, Illumina Inc., Bruker Daltonics Inc., Biomax Informatics AG, Perkinelmer Inc., Qiagen N.V., and Thermo Fisher Scientific, Inc. The other players in the value chain include Accelrys, Inc., Affymetrix, Inc., S.A. Nonlinear Dynamics, Quest Diagnostics, Inc., and others. The Scope of the report: This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Tel: +1-888-702-9626 Like it? Share it! More by this author |