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Latin American Bioinformatics Market worth $627 Million by 2017

The “Latin American Bioinformatics Market by Sector (Agriculture, Molecular Medicine, Research & Animal), Segment (Sequencing Platforms, Knowledge Management Tools & Data Analysis Services) & Application (Genomics, Proteomics & Drug Design) - Forecasts to 2017” analyzes and studies the major market drivers, restraints, opportunities, and challenges in Brazil, Mexico, Chile, Argentina, Peru, and Rest of Latin America.

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 In Latin America, bioinformatics is now widely recognized as a crucial field for research and development in agricultural, veterinary, and human health sciences. The Latin American bioinformatics market displays a lucrative growth potential. It is estimated to grow at a CAGR of 22% from 2012 to 2017 to reach $627 million by 2017. The growth of the bioinformatics market is driven by factors such as the decreasing cost of DNA sequencing, the increasing number of training and development programs on the usage of bioinformatics tools/platforms, the high concentration of bioinformatics research institutes, ongoing partnerships of academic institutions, and the formation of regional bioinformatics networks. However, the dearth of adequate infrastructural facilities and skilled professionals, presence of obsolete bioinformatics solutions, lack of government funding and investments, and less focus of global bioinformatics players on Latin American countries are factors that are restraining the growth of the market.

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Based on the type of products and services, the bioinformatics market is classified into knowledge management tools, platforms, and services. The bioinformatics knowledge management tools market includes generalized and specialized knowledge management tools. The bioinformatics platforms market is segmented into sequence analysis platforms, sequence alignment platforms, sequence manipulation platforms, structural and functional analysis platforms, and others. The bioinformatics services market comprises sequencing services, database management, data analysis, and others.

 The Latin American bioinformatics market has several practical applications in fields that generate large data sets. In this report, the various applications of bioinformatics include genomics, proteomics, chemoinformatics, molecular phylogenies, metabolomics, transcriptomics, and others.

 The major players in the bioinformatics industry include Agilent Technologies, Inc. (U.S.), Affymetrix, Inc. (U.S.), Life Technologies Corporation (U.S.), Illumina, Inc. (U.S.), and CLC Bio (Denmark).

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