Increase in need for integrated data, applications in drug discovery & development, and supportive government initiatives drive the growth of the global bioinformatics market
PORTLAND, Oregon, Sept. 18, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Bioinformatics Market by Technology and Services (Sequence analysis, Sequence alignment, Sequence manipulation, Structural analysis, Sequencing services, Database and management, Data Analysis) and Application (Metabolomics, Molecular Phylogenetics, Transcriptomics, Proteomics, Chemoinformatics, Genomics) - Global Opportunity Analysis and Industry Forecast, 2017–2025." The report provides a detailed analysis of top investment pockets, changing market trends, major segments, market size & estimations, value chain, and competitive landscape. According to the report, the global bioinformatics market garnered $6.38 billion in 2017 and is expected to reach $18.23 billion by 2025, growing at a CAGR of 13.8% from 2018 to 2025.
Increase in need for integrated data, applications in drug discovery & development, and supportive government initiatives drive the growth of the market. However, scarcity of skilled personnel, saturation in pharmaceutical sector, and availability of common data formats restrain the market growth. On the other hand, data overload, standardization, and requirement for integrated solutions & systems create new pathways in the industry.
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Bioinformatics platforms segment to continue its leadership status by 2025
Based on technology & services, the bioinformatics platforms segment held the major market share in 2017, contributing for nearly half of the total share and is expected to continue its leadership status during the forecast period. This is due to rise in platform applications, growing requirement for better tools in drug development, and need for the identification and modification of structures. However, the bioinformatics services segment would grow at the largest CAGR of 25.1% from 2018 to 2025, owing to rise in demand for sequencing and analysis of the data in the field.
Genomics application to maintain its lead throughout the forecast period
The genomics application accounted for nearly one-fourth of the total market share in 2017 and will maintain its lead throughout the forecast period. This is due to increase in applications and usage in the biomolecule sequencing. On the other hand, the transcriptomics application is expected to register the highest growth rate with a CAGR of 19.4% during the forecast period, 2018–2025. This is attributed to preference for personalized medicines and companion diagnostics. In addition, discovery of biomarkers, novel gene sequencing, and worldwide acceptance of transcriptomics technology supplement the growth.
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North America to maintain its dominating position by 2025
North America accounted for more than two-fifths of the total market share in 2017 and is expected to maintain its dominating position by 2025. This is due to increase in adoption of advanced technology solutions and surge in demand for better bioinformatics tools for drug discovery and development processes. However, LAMEA is expected to register the highest growth rate, with a CAGR of 15.7% from 2018 to 2025, owing to advancements in the field of genomics and proteomics that generates huge amount of data, which needs to be managed and interpreted.
Key Market Players
Leading market players analyzed in the research include Accelrys, Inc., Agilent technologies, Inc., Affymetrix, Inc., Non Linear Dynamics, Genevabioinformatics, Life Technologies Corp., Quest Diagnostics, Inc., Bruker Daltonics, Inc., Illumina, and Biomax informatics AG.
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