Rising integrated data need, demand for drug development and discovery, greater focus in genomics & proteomics, and encouraging government policies are propelling the growth of market.
Portland, Oregon (PRWEB UK) 3 June 2014
Analyze Future publishes a latest report titled "Bioinformatics Market - Global Industry Analysis, Size, Growth Trends, Share, Opportunities and Forecast."
The study suggest that the global Bioinformatics market would touch a figure of $12.8 billion by 2020, registering a CAGR of 21.2% during 2014-2020.
To view complete report, visit http://www.analyzefuture.com/bioinformatics-market.
Bioinformatics refers to a system that manages biological data. Development of bioinformatics would prove to be beneficial in numerous fields such as drug discovery and development, molecular medicine, gene therapy, personalized medicines, preventive medicines, etc.
Rising integrated data need, demand for drug development and discovery, greater focus in genomics & proteomics, and encouraging government policies are propelling the growth of market. The limitations for the growth of this market are the need for skilled personnel, saturation of the pharmaceutical sector and lack of common data formats.
The report segments the bioinformatics technology and services market into knowledge management tools, bioinformatics platforms and bioinformatics services. Due to higher use of bioinformatics tools in various genomic studies, it generated maximum revenue in the year 2013. However, the report expects the knowledge management tools to generate maximum revenue by 2020. This can be credited to the rising data integration need, increase in clinical trials and growth in the proteomic data.
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The report segments the bioinformatics market on the basis of applications, namely metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics and others. The genomic application segment was estimated to be the major revenue generating segment in 2013; however, by 2020, chemoinformatics would supersede genomic.
The report segments the bioinformatics sector market into medical bioinformatics, animal bioinformatics, agriculture bioinformatics, academics and others. The report forecasts that medical bioinformatics would continue to remain the maximum revenue generating segment till 2020. The academics sector is expected to grow at a CAGR of 38.5% during 2014-2020.
North America remains the highest revenue generating region due to widespread application of bioinformatics, whereas, Asia Pacific region would grow fastest due to governments initiatives.
Some of the key profiled firms in the field of bioinformatics are:
Agilent technologies, Inc.
Non linear dynamics
Quest Diagnostics, Inc.
Life Technologies corp
Illumina, BrukerDaltonics, inc.
Biomax informatics AG
Browse all diagnostic and biotech market report at http://www.analyzefuture.com/diagnostic-and-biotech-market-report.
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