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.
Access Research Report of Bioinformatics Market@ 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.
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.
Access
Press Release of Bioinformatics Market@ www.grandviewresearch.com/press-release/global-bioinformatics-market
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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