The Global Bioinformatics market is anticipated to grow at a CAGR of 25.45% over the forecast period of 2016–2025, with market revenue expected to rise from $12.465 billion in 2016 to $95.365 billion by 2025, according to the research firm, ReportBuyer.
The fact that bioinformatics has emerged as a key tool for drug discovery processes due to its high throughput screening, aided by recent advancements in proteomics and genomics, is largely responsible for driving the global market. In addition, the various initiatives undertaken by government coupled with developments in the IT sector are helping propel the market growth.
The market is mainly segmented into service, market by products, and market by application, according to the firm’s latest report. These three applications are further sub-segmented into other various applications.
The Genomics application which involves analysis of a complex set of genes, their expressions, and the subsequent role played in biology is anticipated to dominate the Global Bioinformatics market by growing at a faster CAGR of 32.50% during the forecast period.
The transcriptomic and metabolomics markets are also predicted to grow at a CAGR of 22% and 26%, respectively. The Bioinformatics platforms market that comprises of sequence analysis, sequence alignment, structural analysis, sequence manipulation and other platforms is expected to lead the Global Bioinformatics market in terms of product and services with a CAGR of 28.93%.
The molecular medicine held the highest market share of 30.36% in terms of products in 2016. But, it is the preventive medicine product sector that is expected to grow at a faster CAGR of 26.22% during the forecasted period.
Regional and Competitive Insights
The Asian bioinformatics market is estimated grow at CAGR of 24.84% owing to the emerging markets like China and India in this region and is anticipated to generate a net worth of $12.895 billion 2025.
The European countries like Germany and U.K. have a huge bioinformatics market which is stimulated by the continuous R&D activities in the region initiated by the European government. The market is expected to generate $30.897 billion by the end of the forecast period.
However, it is the North American market that is anticipated to hold the largest share by the year 2025 by exhibiting the fastest CAGR growth of 27.46%.
The rest of the world bioinformatics market consists of regions like North Africa and South Africa, the Middle East and Latin America. The bio informatics market is expected to show a steady growth in these regions because of the growing bioinformatics platforms stimulated by proteomics and genomic growth.
The Qiagen Company provides over 500 consumable products as well as a number of instrument solutions to fully automate the processing of almost all Qiagen biological materials used for sample preparation and their subsequent analysis in the field of molecular biology.
Affymetrix Inc is another such company that offers life science products for the applications of genotyping and gene expression.
Some of the other prominent players include Illumina Inc, Waters Corporation, Agilent Technologies, Inc, Thermo Fisher Scientific Inc., Sencel bioinformatics, S.A.F.A.N. Bioinformatics SAS, Biovia, Regeneron Pharmaceuticals, Biomax Informatics AG, Qiagen n.v., Inc, Geneva Bioinformatics SA, and Noray bioinformatics SLU.
The full report is available at: https://www.reportbuyer.com/product/4976566/
(Sources: PR Newswire; ReportBuyer)
Filed Under: Drug Discovery
