Europe Bioinformatics Market - Leading Countries, Growth, Drivers, Risks, Opportunities, Forecast & Top Vendors Analysis 2024Bioinformatics, a hybrid science that links biological data with techniques for information storage, distribution, and analysis to support multiple areas of scientific research, including biomedicine. Bioinformatics is fed by high-throughput data-generating. The Europe bioinformatics market is expected to experience a surging growth in the near future. The driving factors for this market are increasing government initiatives and funding, and growing use of bioinformatics in drug discovery and biomarkers development processes. However, shortage of trained research personnel required for proper use of bioinformatics tools, and non-availability of platforms to integrate large datasets produced by bioinformatics is expected to offset the growth of this market.
The European bioinformatics market has accounted for USD 1.56 billion in 2016 and is expected to reach USD 3.61 billion by 2024, growing at a CAGR of 11.1% in the forecast period 2016 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Frequently Asked Questions?
• What will the market size be in 2024?
• What are the key factors driving the European market?
• What are the challenges to market growth?
• Who are the key players in the market?
• What are the market opportunities and threats faced by the key players?
• What will be the growth rate in 2024?
• Which strategies are used by top players in the Europe bioinformatics market?
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Major Market Competitors
Some of the major players of the Europe bioinformatics market
• Illumina, Inc.,
• NAnexus, Inc.,
• Thermo Fisher Scientific, Inc.,
• Agilent Technologies,
• Dassault Systèmes,
• Geneva Bioinformatics (Genebio) SA,
• Integromics S.L
The Europe bioinformatics market is segmented based on industry, product type, application and services. Sequencing platforms are broadly used, and is expected to grow at the highest CAGR among its peer segments. The growth of this product is owing to the increasing usage of gene sequencing in diagnosis of cancerous mutation. Scientists searching for the genetic mutation that affects plant or animal characteristics requires sorting of massive amounts of data, previously scientists used to look at one gene at a time but now thousands of genes can be analyzed at once using sequencing platforms.
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Based on applications the Europe bioinformatics market is segmented into preventive medicine, molecular medicine, genomics, drug development, transcriptomics and, other biotechnological applications. Genomics and drug development in proteomics is expected to drive the bioinformatics market in the forecasted period. Large investments in the field of genomics and proteomics is surging the growth of bioinformatics market and its usage in this applications.
Based on geography the market is segmented into 11 countries,
• Switzerland and rest of Europe
Germany is expected to dominate the market, while U.K. and France are expected to be the growing with highest CAGR in the forecast period.
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