Bioinformatics Market Improving the Diagnosis of Genetic Diseases
Posted by Lohitha on July 12th, 2019
Global Bioinformatics Market: Snapshot
According to the recent business intelligence report released by IndustryARC, the global bioinformatics market size was .2 billion to .6 billion in 2018, and the demand will be growing an outstanding CAGR of 12% to 14% during the forecast period of 2019 to 2025. The report is titled “Bioinformatics Market: By Product (Bioinformatics Platforms, Knowledge Management Tools, Services); By Application (Medicine, Agriculture, Genomics, Proteomics, Transcriptomics); By Sector (Clinical Diagnostics, Gene Therapy, Others); By Geography - Forecast (2019-2025).”
Bioinformatics is used to develop methods and tools to better understand the biological data. It uses computer programming with different fields including computer science, biology, information engineering, statistics, and mathematics to interpret the biological samples and data. Previously, bioinformatics was used for identification of genes and single nucleotide polymorphisms (SNPs). Improvement in the field with an aim to enhance the medical graph of bioinformatics is creating opportunities in the market.
As per the report released by the European Bioinformatics Institute for the year 2017 in NCBI, bioinformatics storage data in Europe is increasing gradually, and it had reached around 120 petabytes in recent years. The biosamples database of over 5 million has been used in many different experiments. The existing data stored can be used for generating other related sample data and products is the major factor for the growing prospects in the bioinformatics market.
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Global Bioinformatics Market: Leading Segments
IndustryARC analyst assesses that Americas was the leading region with a demand share of 36% to 38% in 2018. Furthermore, genomics is the leading application segment of the bioinformatics market, growing with a CAGR of 11% to 12% through to end period 2025. Enormous clinical usage of genomic technologies offers ample amount of opportunities to enhance the healthcare across the scale of medical domains, and it helps to accelerate decision-making in the healthcare sector for better diagnosis management.
Genomics can be used to identify the genetic factor responsible for diseases spreading from one generation to another. Genomics is widely used to diagnose and cure the genetic diseases that are stimulating the demand for bioinformatics market. Rising mergers between research organizations, growing support of the government in producing medicines using bioinformatics are some factors responsible for driving the growth of bioinformatics market in America.
Global Bioinformatics Market: Trends
Bioinformatics is achieving significance, and the amount of data generated requires management and elucidation for later research purposes. Demand for differentially articulated genes, computational epigenetics, and meta-analysis of the gene network. Microarray data system biology requirements has also had a major impact on the growth of the bioinformatics market.
Global Bioinformatics Market: Competitive Landscape
Some of the major players in the bioinformatics market are Agilent Technologies Inc., Biomax Informatics AG, Dassault Sytemes Biovia Corp, Bruker Corporation, Qiagen, Illumina Inc., Permin Elmer Inc., Applied Biologicals Materials, Waters Corporation, and Thermo Fisher Scientific Inc.
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IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
Mr. Venkateshwar Reddy
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About the AuthorLohitha
Joined: July 9th, 2019
Articles Posted: 52
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