The bioinformatics market is expected to grow to $12.86 billion by 2020 with a CAGR of 21.2% during 2014-2020. Bioinformatics is an interdisciplinary field that is used in the development and storage of data, thus helping in the analysis, organization and retrieval of the biological data. Bioinformatics has various applications and thus forms part of almost all the fields in biology. Bioinformatics form a part of agriculture, animal breeding, molecular medicine, preventive medicine, etc.
The major factors driving the bioinformatics market is the need for integrated data, rising demand for drug development and discovery, the increasing focus in genomics & proteomics and the favorable government initiatives. The factor limiting this market is the need for skilled personnel due to the complexity of the bioinformatics tools used. The other limiting factors are the saturation of the pharmaceutical sectors and lack of common data formats. The factors that would provide opportunity for the growth of this market are standardization of databases, need for integration systems and solutions and need to control data overload due to the piling-up of data due to the numerous experiments conducted. The reason to study this market is to understand the current trends and applications in the bioinformatics field along with in depth analysis of the segments.
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The bioinformatics sector market is segmented based on medical bioinformatics, animal bioinformatics, agriculture bioinformatics, academics and others. The medical bioinformatics was and is projected to remain as the leading revenue generating market segment through 2020. The plunge would be due to the widespread application in preventive medicine, gene therapy and drug discovery & development using bioinformatics tools. The academics sector is forecast to be the potential segment, which is expected to grow at a CAGR of 38.5% during 2014-2020.
The geography market is segmented into North America, Europe, Asia Pacific and RoW. North America is the highest revenue generating region due to the widespread adoption of advanced technologies in the region. The Asia Pacific region is expected to have the highest growth potential during the analysis period and this is due the funding initiatives done by the government. In addition, many private players in the bioinformatics sector are entering the untapped regions to obtain large market share.
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Table Of Content
Chapter 1 Introduction
Chapter 2 EXECUTIVE summary
Chapter 3 Bioinformatics market overview
Chapter 4 GLOBAL bioinformatics MARKET BY technology and services
Chapter 5 GLOBAL bioinformatics MARKET BY Application
Chapter 6 GLOBAL bioinformatics MARKET by sector
Chapter 7 GLOBAL Bioinformatics MARKET BY geography
Chapter 8 Company profiles
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