San Francisco, 24 October 2018 , The global bioinformatics market is expected to
reach USD 13.47 billion by 2020 growing at an estimated CAGR of 21.2% from 2014
to 2020, according to a new report by Grand View Research, Inc. Growing
clinical development of biopharmaceutical and increasing need for three
dimensional drug designing technology are expected to drive the market growth
over the next five years.
Further
development of bioinformatics tools, platforms and analysis platforms coupled
with the introduction of novel technologies are expected to be high impact
rendering factors for the growth of this market. Increasing demand for faster
development of novel API and biopharmaceuticals is also expected to enhance the
growth of this industry.
Full Research Report On Bioinformatics Market Analysis:www.grandviewresearch.com/industry-analysis/bioinformatics-industry
Growth in
the number of research and development studies in various ‘-omics’ related
segments and need for integration of the large amounts of biological data
generated from these studies is also expected to encourage industry players to
develop faster, more efficient and versatile bioinformatics software cum
platforms for commercialization.
Bio-content
processing accounted for over 47% of the revenue share in 2013. The presence of
increasing market demand for genetic databases management, and need for related
sequence, structural and phylogenic analysis tools and software is the primary
factor accounting for this large share.
Moreover,
the sequence and structural analysis platform segment is expected to grow at
the fastest CAGR of over 20% over the forecast period owing to the development
of next generation sequencing and expected reduction in cost of whole genome
exome sequencing. These factors are expected to have a significantly positive
impact on the overall growth of this market in the next five years.
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Research At: www.grandviewresearch.com/industry/healthcare-it
Chemo-informatics and genomics accounted
for over 50% of revenue share in 2013. Growing demand for novel biomarkers for
R&D of biosimilar drugs and biopharmaceuticals is expected to significantly
enhance the market penetration over the forecast period.
Proteomic
applications are expected to attract a considerable amount of R&D
investment in the near future and witness a lucrative growth over the forecast
period. Developments in three dimensional drug development technologies are
further expected to boost the growth of this segment.
North
America was observed to account for over 40% of the global revenue in 2013. Factors
accounting for this large share include the presence of large pharmaceutical
companies in the region, which are involved in the clinical development of
novel APIs and biosimilar drugs. The presence of a technologically advanced
healthcare R&D framework also enhances this region’s investment
capabilities for the development of the aforementioned market segments.
Asia Pacific
is expected to grow at the fastest CAGR over the forecast period owing to the
presence of companies providing outsourcing services to the industry for larger
eastern industry players. Furthermore, the presence of high unmet industry need
is also expected to be significant reason to impact the growth of this region
positively over the forecast period.
Key players in this industry include IBM Life Sciences,
BIOVIA, Life Technologies Corporation, Agilent technologies, 3rdMillennium Inc., Celera Corporation,
Affymetrix, BioWisdom Ltd., and Rosetta Biosoftware.
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About Grand View
Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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