Advancements in OMIC Technologies Drive the Global Bioinformatics Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) August 11, 2014 -- Follow us on LinkedIn – The need to create and maintain a database to store, analyze and interpret various types of biological data, including nucleic acid (DNA/RNA), amino acid sequences, protein genomic, protein structures and protein domains, is resulting in significant growth in bioinformatics. The concept of bioinformatics combines life sciences with informatics involving the use of computer or information technology in storing, retrieving and analysis of large scale data sets generated during "omics" experiments. Bioinformatics finds applications in drug discovery, genomics, molecular science, proteomics, transcriptomics, molecular phylogenetics, metabolomics and pharmacogenomics. In particular, bioinformatics enables the development of sequence databases and related tools for the analysis of large data sets generated during biomedical or life science research using ultra-high-throughput technologies and assays, such as gene expression microarrays, high-throughput sequencing technologies, imaging devices and proteomics platforms.
The technology is gaining importance owing to its ability to accelerate clinical research by expediting the application of research findings to enable scientists to understand pathophysiology of diseases while identifying molecular targets for drug discovery and potential biomarkers. Data management tools based on bioinformatics, for instance, help simplify the task of analysing the biological diversity of a disease, thereby enhancing productivity by way of identifying new biomarkers for testing toxicity and drug efficacy. Backed by significant developments in the area of genomics and proteomics, there is increase in the volume of biological data pertaining to protein and gene sequences.
Disruption in protein activity is the primary cause of several diseases. Understanding the protein function for combating diseases is therefore vital. Proteomics research, undertaken by research laboratories in the field of pharmaceutical, life sciences research, will contribute significantly to the growing demand for bioinformatics. Proteomics is capable of boosting the number of potential drug targets, around which the lead compounds are screened as well as designed, by characterizing and identifying proteins of significant interest and by clarifying the proteins' functions in biochemical pathways. However, a large portion of proteomic and genomic data is poorly annotated, disorganized and incomplete, thus encouraging demand for potent tools capable of transforming this data into useful information.
Technological progress in OMICS, defined as a new era of systems biology coupled with enhancements in data processing and analysis software, will play a significant role in the development of the bioinformatics market in the coming years. The emergence of omics technologies, for instance, has enabled biomarkers to move beyond its application as a disease diagnostic tool into playing a major role in personalized medicine and diagnosis. Growth is also sustained by continued technology advancements such as software upgrades and high speed analysis.
As stated by the new market research report on Bioinformatics, the United States represents the largest market worldwide supported by widespread adoption of advanced technology in the area of drug discovery and strong financial support from the government. Emerging markets of Asia-Pacific and Latin America are poised to fuel future growth in the market. Countries such as China, India, Singapore and Brazil will present significant growth opportunities led by increased outsourcing of bioinformatics and proteomics services. Asia Pacific is forecast to emerge as the fastest growing market with a compounded annual rate of 21.1% over the analysis period. Biocontent which includes large data sets of nucleotide and protein databases represents the largest segment of the bioinformatics market globally.
Key players covered in the report include 3rd Millennium Inc., Affymetrix Inc., Agilent Technologies, Dassault Systèmes, Geneva Bioinformatics S.A., ID Business Solutions Ltd., Instem plc, Life Technologies, Illumina Inc., Kinexus Bioinformatics Corporation, Nonlinear Dynamics Ltd., Ocimum Biosolutions Ltd., PerkinElmer Inc., QIAGEN N.V., and Strand Life Sciences.
The research report titled “Bioinformatics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analysed in the report include Software (Bioinformatics), Biocontent (Bioinformatics) and Hardware (Bioinformatics).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Bioinformatics_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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