Bioinformatics Market: Market research and Market share by 2023
Bioinformatics Market by Product & Service, Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2023
(firmenpresse) - According to the new market research report & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2023", published by MarketsandMarketsing number of collaborations between companies and research institutes are the major factors driving the growth of the market.
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[195 Pages Report] The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 6.17 billion in 2017, at CAGR of 14.5%. The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023.
On the basis of applications, the global bioinformatics market is divided into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. In 2018, the genomics segment is expected to account for the largest share of the global bioinformatics market due to the increasing applications of genomics in personalized and preventive medicine.
On the basis of sector, the global bioinformatics market is divided into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, and forensic biotechnology. In 2018, the medical biotechnology segment is expected to account for the largest share of the global bioinformatics market. The rising adoption of bioinformatics tools in pharma and clinical applications is driving market growth.
One of the major factors restraining market growth is the lack of well-defined standards and common formats for data integration. Most of the research institutes have their own exclusive identifiers, indexing schemes, and data formats. As data models change frequently, the data integration process becomes difficult. This may limit the growth of the market to a certain extent.
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27 - Figures
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Key players that provide bioinformatics products and services are Thermo Fisher Scientific (US), Illumina Inc (US), Agilent Technologies (US), QIAGEN (Netherlands), BGI (China), Wuxi NextCODE (China), Eurofins Scientific (Luxembourg), Waters Corporation (US), Sophia Genetics (Switzerland), Partek (US) and DNASTAR (US). These players focus on both organic and inorganic growth strategies such as product launches, partnerships, and agreements to maintain and enhance their market share in the bioinformatics market.
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Datum: 25.10.2018 - 16:19 Uhr
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