Bioinformatics Market

Increasing investment in bioinformatics from both the public and private sectors has stimulated the industry's expansion.

PUNE, MAHARASHTRA, INDIA, January 19, 2023 /EINPresswire.com/ -- Bioinformatics Market Definition

The global bioinformatics market is projected to reach USD ~14.5 billion, at a CAGR of 15.5% during the forecast period.
Biomedical research is aided by bioinformatics, a branch of biology that incorporates IT to connect biological data with tools for storing, sharing, and analyzing data. Database development, management, warehousing, mining, and related software tools are utilized. Insights gained through data mining are applied to the study of genes and genomes. Today, researchers have access to a wide variety of bioinformatics resources.

Bioinformatics Market’s Top Driver

Increasing public-private sector funding for bioinformatics

Rising needs in both private and public sector initiatives, rapid expansion in the fields of proteomics and genomics, and expanding interest in molecular biology and drug discovery all bode well for the bioinformatics market. The global bioinformatics market has strong potential for expansion due to the aforementioned factors.

Market Drivers
• Rising Interest in Personalized Health Care
• Rising Investment in Pharmaceutical and Biotechnology Research
• Lowered Genome Sequencing Rates

Bioinformatics Market Top Players: Agilent Technologies, Inc., Astalake Biosystems, Beijing Genomics Institute (BGI), Biomax Informatics AG, Biosystems Immunolab PLC., Dnastar, Eurofins Scientific, Fios Genomics, Genewiz (A Brooks Life Sciences Company), Genuity Science (Formerly Wuxi Nextcode), Illumina, Inc., Jadbio

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Competitive Landscape.
• Compared to other areas of IT, the care management solution business is highly resilient to economic downturns. Hospitals, doctors, patients, and healthcare payers all rely on these solutions on a regular basis to keep their respective companies afloat. Care management technologies also reduce the systemic complexity and financial burden of healthcare delivery. Those methods of cutting expenses remain in high demand even when the economy is in a downturn. Consequently, businesses providing Bioinformatics continue to attract the attention of private equity (PE) firms and other types of strategic acquirers.

Market Segmentation:

The market for bioinformatics services is expected to expand at a rapid rate over the predicted time frame.

The bioinformatics market can be broken down into three distinct categories: knowledge management tools, bioinformatics platforms, and bioinformatics services. In 2021, knowledge management tools accounted for 36.3% of the bioinformatics market's total value. Much of this market's meteoric rise can be attributed to the growing demand for knowledge management tools to handle the avalanche of data generated by life science research and drug discovery. Bioinformatics services, however, are expected to grow at a particularly fast rate in the coming years. The market is being propelled forward by rising government funding for genomics research, as well as the imperative to reduce sequencing costs and keep up with rising data volumes.

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Bioinformatics Market, by Product
• Knowledge Management Tools
• Bioinformatics Platforms
• Bioinformatics Services

Bioinformatics Market, by Application
• Genomics
• Chemoinformatics & Drug Design
• Proteomics
• Transcriptomics
• Metabolomics
• Other Applications

Bioinformatics Market, by Sector
• Medical Biotechnology
• Animal Biotechnology
• Plant Biotechnology
• Environmental Biotechnology
• Forensic Biotechnology
• Other Sectors

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