The global bioinformatics market is exhibiting a 20.40% CAGR from 2014 to 2020, according to a new market study recently released by Persistence Market Research. The market was calculated to be worth US$4.1 bn in 2014 and is estimated to reach US$12.5 bn by 2020, says PMR’s report, titled ‘Global Market Study on Bioinformatics – Asia to Witness Fastest Growth by 2020’.
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According to a new market report published by Persistence Market Research “Global Market Study on Bioinformatics – Asia to Witness Fastest Growth by 2020,” the global bioinformatics market was valued at USD 4,110.6 million in 2014 and is expected to grow at a CAGR of 20.4% from 2014 to 2020, to reach an estimated value of USD 12,542.4 million in 2020.
Browse the full Global Market Study on Bioinformatics – Asia to Witness Fastest Growth by 2020 report at http://www.persistencemarketresearch.com/market-research/bioinformatics-market.asp
Globally, rising R&D expenditures and rising number of research activities has increased the demand for bioinformatics in the market. As a result, the market is expected to grow at a CAGR of about 20.4% from 2014 – 2020.
Bioinformatics is the combination of biology and information technology. It is used widely in the management of biological information in the field of medical, research and developments of drugs. It uses computer software tools for database creation, data management, data warehousing, data mining and communication networking. Bioinformatics deals with the recording, annotation, storage, analysis and retrieval of nucleic acid sequence, protein sequence and structural information. It has several applications in the fields of medicine and biology including molecular medicines, preventive medicines, gene therapy, drug developments, biotechnology and forensic analysis of microbes. It is also used in the study of genetics and genomes. Various advantages of bioinformatics include convenient and accurate verification of biological data, and storage and access to large amount of data. It also helps in fast sequence search through algorithm.
Owing to the growing applications of bioinformatics in drug discovery and development process, rising number of personalized medicines and clinical diagnostics also promotes use of bioinformatics. Moreover, growing information technology applications in bioinformatics and bioinformatics support in development of biomarker for safer drugs are some major drivers of the global bioinformatics market. Growth in information technology has resulted in various software innovations such as BLAST, Annotator, and GeneMark. These innovations are used in managing large amount of biological data in various research fields. In addition rising need for integrated bioinformatics system also boosted the growth of bioinformatics market. However, lack of skilled professionals and high costs for implementation of bioinformatics software are restraining the growth of the bioinformatics market. In addition, lack of interoperability among data formats is also restraining the growth of bioinformatics market.
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Bioinformatics is the computational analysis used in storage and development of data. It is used for processing, analyzing, managing and organizing biological information. Bioinformatics analyzes variety of data using information technology, mathematics and biology to identify the biological importance. Bioinformatics is used for interpretation and analysis of various types of biological data such as amino acid sequences, protein structure and nucleotide. Bioinformatics helps in implementation and development of tools for management of different types of information such as integrated mapping information and databases. Bioinformatics market technologies have its applications in various sectors such as chemicals, clinical genomics, biotechnology, food safety, manufacturing, chemicals and pharmaceutical research and development. Bioinformatics reinforce and support different application areas such as gene regulation analysis, protein expression analysis, gene sequence analysis, gene expression analysis, systems biology, cancer mutation analysis comparative genomics, and drug development and discovery process.
Bioinformatics is beneficial in variety of fields such as personalized medicine, gene therapy, molecular medicine, preventive medicine, drug discovery and development. Read Complete Report..