Global Bioinformatics Market 2018-2023 - Growing Demand for Nucleic Acid and Protein Sequencing Due to Reduction in Sequencing Cost and Technological Advancement

Dublin, Sept. 20, 2018 (GLOBE NEWSWIRE) -- The "Bioinformatics Market by Product & Service, Applications, & Sectors - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 7.73 billion in 2018, at CAGR of 14.5%

The bioinformatics market in this report is segmented by product & service, applications, sectors, and region. The study tracks and analyzes competitive developments such as product launches, collaborations, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the bioinformatics market.

Growing demand for nucleic acid and protein sequencing, applications of bioinformatics in proteomics and drug discovery, clinical diagnostics and personalized medicine are the major factors driving the growth of the bioinformatics market. On the other hand, lack of well-defined standards and common formats for data integration are the major factor restraining market growth.

On the basis of product and service, the global bioinformatics market is divided into knowledge management tools, bioinformatics platforms, and services. In 2018, the knowledge management tools segment is expected to account for the largest share of the global bioinformatics market due to the large amount of sequencing data that is being processed in the research and clinical space.

On the basis of applications, the global bioinformatics market is divided into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. The metabolomics segment is expected to account for the highest growth rate in the bioinformatics market during the forecast period. The rising application of metabolomics in various disease-related projects and support from the government in the form of funding is positively affecting market growth.

On the basis of sector, the global bioinformatics market is divided into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology is subsegmented into drug discovery & development, clinical diagnostics & precision medicine, reproductive health. In 2023, the medical biotechnology segment is expected to account for the highest growth of the bioinformatics market. The rising adoption of bioinformatics tools in pharma and clinical applications is driving market growth.

By region, Asia Pacific is expected to account for the highest growth of the bioinformatics market by 2023, followed by North America. The high growth of Asia Pacific market is primarily attributed to rising penetration of cutting-edge research and clinical laboratory technologies and increasing public- and private-sector investments in genomics, proteomics, and related technologies.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Bioinformatics: Market Overview
4.2 Asia Pacific Bioinformatics Market, By Products and Services and Bioinformatics Platforms (2018)
4.3 Bioinformatics Market, By Application
4.4 Bioinformatics Market, By Sector
4.5 Geographical Snapshot of the Bioinformatics Market

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Nucleic Acid and Protein Sequencing Due to Reduction in Sequencing Cost and Technological Advancement
5.2.1.2 Initiatives From Government and Private Organizations
5.2.1.3 Growing Applications of Bioinformatics
5.2.1.3.1 Proteomics and Drug Discovery
5.2.1.3.2 Clinical Diagnostics and Personalized Medicine
5.2.1.4 Number of Collaborations Between Companies and Research Institutes
5.2.2 Restraints
5.2.2.1 Lack of Well-Defined Standards and Common Data Formats for Integration of Data
5.2.2.2 Lack of User-Friendly Tools at Cheaper Prices
5.2.3 Opportunities
5.2.3.1 Blockchain Technology and Cloud Computing
5.2.3.2 Integration of Machine Learning and AI in Healthcare
5.2.3.3 It Giants Investing in the Development of Bioinformatics Solutions
5.2.4 Challenges
5.2.4.1 Management of Large Volumes of Data
5.2.4.2 Lack of Interoperability and Multiplatform Capabilities
5.2.4.3 Growing Competition From In-House Development and Publicly Available Tools
5.2.4.4 Shortage of Skilled Bioinformatics Professionals

6 Bioinformatics Market, By Products and Services

6.1 Introduction
6.2 Knowledge Management Tools
6.2.1 Generalized Knowledge Management Tools
6.2.2 Specialized Knowledge Management Tools
6.3 Bioinformatics Platforms
6.3.1 Data Analysis Platforms
6.3.2 Structural & Functional Analysis Platforms
6.3.3 Other Bioinformatics Platforms
6.4 Bioinformatics Services
6.4.1 Data Analysis Services
6.4.2 Database Management Services
6.4.3 Other Bioinformatics Services

7 Bioinformatics Market, By Application

7.1 Introduction
7.2 Genomics
7.3 Chemoinformatics & Drug Design
7.4 Proteomics
7.5 Transcriptomics
7.6 Metabolomics
7.7 Other Bioinformatics Applications

8 Bioinformatics Market, By Sector

8.1 Introduction
8.2 Medical Biotechnology
8.2.1 Drug Discovery & Development
8.2.2 Clinical Diagnostics and Personalized Medicine
8.2.3 Reproductive Health
8.3 Academics
8.4 Animal Biotechnology
8.5 Agricultural Biotechnology
8.6 Environmental Biotechnology
8.7 Forensic Biotechnology
8.8 Others

9 Bioinformatics Market, By Region

10 Competitive Landscape

10.1 Market Overview
10.2 Market Ranking Analysis, 2017
10.3 Competitive Situation and Trends
10.3.1 Product Launches
10.3.2 Expansions
10.3.3 Partnership, Collaboration, and Agreement
10.3.4 Acquisition
10.3.5 Other Developments

11 Company Profiles

• Thermo Fisher Scientific
• Illumina Inc
• Agilent Technologies
• QIAGEN
• Beijing Genomics Institute (BGI)
• Wuxi NextCODE
• Eurofins Scientific
• Waters Corporation
• Sophia Genetics
• Partek
• DNASTAR
• Wuxi Nextcode
• Biomax Informatics AG
• Perkinelmer, Inc.

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                    Related Topics: Bioinformatics