The global bioinformatics market is expected
to reach USD 13.47 billion by 2020 growing at an estimated CAGR of 21.2% from
2014 to 2020, according to a new report by Grand View Research, Inc. Growing
clinical development of biopharmaceutical and increasing need for three
dimensional drug designing technology are expected to drive the market growth
over the next five years.
Further development of
bioinformatics tools, platforms and analysis platforms coupled with the
introduction of novel technologies are expected to be high impact rendering
factors for the growth of this market. Increasing demand for faster development
of novel API and biopharmaceuticals is also expected to enhance the growth of
this industry.
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Bioinformatics Market: http://www.grandviewresearch.com/industry-analysis/bioinformatics-industry
Growth in the number of research
and development studies in various ‘-omics’ related segments and need for
integration of the large amounts of biological data generated from these
studies is also expected to encourage industry players to develop faster, more
efficient and versatile bioinformatics software cum platforms for
commercialization.
Bio-content processing accounted
for over 47% of the revenue share in 2013. The presence of increasing market
demand for genetic databases management, and need for related sequence,
structural and phylogenic analysis tools and software is the primary factor
accounting for this large share.
Moreover, the sequence and
structural analysis platform segment is expected to grow at the fastest CAGR of
over 20% over the forecast period owing to the development of next generation
sequencing and expected reduction in cost of whole genome exome sequencing.
These factors are expected to have a significantly positive impact on the
overall growth of this market in the next five years.
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Research: http://www.grandviewresearch.com/industry/healthcare-it
Chemo-informatics and genomics
accounted for over 50% of revenue share in 2013. Growing demand for novel
biomarkers for R&D of biosimilar drugs and biopharmaceuticals is expected
to significantly enhance the market penetration over the forecast period.
Proteomic applications are
expected to attract a considerable amount of R&D investment in the near
future and witness a lucrative growth over the forecast period. Developments in
three dimensional drug development technologies are further expected to boost
the growth of this segment.
North America was observed to
account for over 40% of the global revenue in 2013. Factors accounting for this
large share include the presence of large pharmaceutical companies in the
region, which are involved in the clinical development of novel APIs and
biosimilar drugs. The presence of a technologically advanced healthcare R&D
framework also enhances this region’s investment capabilities for the
development of the aforementioned market segments.
Asia Pacific is expected to grow
at the fastest CAGR over the forecast period owing to the presence of companies
providing outsourcing services to the industry for larger eastern industry
players. Furthermore, the presence of high unmet industry need is also expected
to be significant reason to impact the growth of this region positively over
the forecast period.
Key players in this industry
include IBM Life Sciences, BIOVIA, Life Technologies Corporation, Agilent
technologies, 3rdMillennium Inc., Celera Corporation, Affymetrix,
BioWisdom Ltd., and Rosetta Biosoftware.
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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