Bioinformatics Market is predicted to gain huge market share with a CAGR of 19.1% during the forecast period 2018-2023 | key players are Agilent Technologies, Affymetrix Inc., Applied Biological Materials (ABM), 3rd Millenium, Thermo Fisher Scientific

Overview

Bioinformatics is termed as the computational diverse approaches to examine, manage and store biological information. Bioinformatics includes the investigation of natural information with help of computer systems and other devices, the investigation of science for making natural information and building up the estimations will improve natural research.

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Underlying Causes

Bioinformatics has risen as important player for innovation of drug processes because of the monitoring and advancement in proteomics and genomics are driving the worldwide market.

Bioinformatics market is divided into three segments based on technology & services, sectors, and applications. Medical Bioinformatics, agriculture, animals, academics and others underlay into sector market. The services and technology segment is segregated into platforms, knowledge management tools and other services. Proteomics, genomics, metabolomics, transcriptions, molecular phylogenetic and chemoinformatics are classified into application segment.

Developing interest for protein sequencing and nucleic acid, increasing activities from government and private associations, developing utilization of bioinformatics, and enhanced community oriented tie-ups amongst organizations and research foundations are the main driving factors for the development of the bioinformatics market.

Bioinformatics market was estimated to USD 9.36 billion in 2018 and projected to increase with a CAGR of 19.1% to reach USD 22.43 billion by 2023 globally.

 

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Geographic Segmentation

Global market for Bioinformatics is classified geographically into North America, Asia- Pacific, Europe, Latin America and Middle East and Africa. North America has emerged as the largest market share globally, followed by Europe. Asia-Pacific is considered as the fast growing market in the world. The demand for expansion for bioinformatics in proteomics research and genomics, technological development, raise of funds for research, and having substantial number of biological companies and research organizations are driving development of the bioinformatics in North America region.

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Leading companies in Bioinformatics Market are Illumina Inc, 3rd Millenium Inc, S.A.F.A.N. Bioinformatics SAS, Noray bioinformatics SLU, Biovia, Applied Biological Materials (ABM), Sencel bioinformatics, Biomax Informatics AG, Affymetrix Inc, DNAnexus, Inc., Thermo Fisher Scientific Inc., Geneva Bioinformatics SA, Waters Corporation, Regeneron Pharmaceuticals, Qiagen n.v., Inc and Agilent Technologies, Inc.

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