(PRWEB) January 14, 2013
According to the new market research report “Bioinformatics Market – Advanced Technologies, Global Forecast and Winning Imperatives”, published by MarketsandMarkets, the global bioinformatics market is expected to reach a $8.3 billion by 2014 at a high CAGR of 24.8%. While knowledge management formed the largest sub market is 2009 at $1.3 billion, the bioinformatics platforms market is expected to have greatest market share in 2014 at an estimated $3.9 billion due to rising demand from U.S. and Europe.
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The bioinformatics platforms market is growing at a significant pace with the increasing demand from U.S. and Europe. This trend is supported by the increasing demand for sequencing platforms with increasing life science research using techniques such as gene expression analysis, sequence analysis, and protein expression analysis.
Bioinformatics uses information technology, statistics, and algorithms to integrate biological data. Pharmaceutical companies are now adopting automated technologies to manufacture effective therapies and drugs due to increasing concerns about drug safety and the stringent regulations that govern clinical trials for drug discovery. Pharmaceutical companies have increased their focus on process improvement and quality in the current competitive scenario, as there is little scope for price escalation and product differentiation.
SCOPE AND FORMAT
The report analyzes the global bioinformatics market into respective segments:
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