Bioinformatics Market : Moving Towards Brighter Future
Bioinformatics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $12.8 billion by 2020, registering a CAGR of 21.2% during the period 2014-2020.
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Bioinformatics involves the development and storage methods that help in the organizing, analyzing, and retrieving of biological information. The development in the field of bioinformatics would help with various applications such as drug discovery and development, gene therapy, molecular medicine, preventive medicines, personalized medicines, etc. The factors driving the market are the need for integrated data, rising demand for drug development and discovery, the increasing focus in genomics & proteomics and favorable government initiatives. The limitations for the growth of this market are the need for skilled personnel, saturation of the pharmaceutical sectors and lack of common data formats. The factors that would provide opportunities for the growth of this market are standardization of databases, the need for integration systems & solutions and the need to control data overload.
The bioinformatics market analyzed in this report includes sectors, technology & services, applications as major segments. The services and technology segment is further classified in to knowledge management tools, platforms, and services. The report analyzes the major sector markets into medical bioinformatics, agriculture, animal, academics and others. The application segment includes the proteomics, genomics, metabolomics, transcriptomics, molecular phylogenetics and chemoinformatics. This report excludes in depth analysis of next generation sequencing and cloud based services of the bioinformatics service providers.
The scope of the bioinformatics market report is to study the need of integration of data in the field of bioinformatics and the role played by the bioinformatics tools in the discovery and development of drugs and the adoption level of the bioinformatics tools in the developed and developing regions.
The study of bioinformatics is the combination of information and biology. The study broadly involves the methods of usage, computational tools, manipulation & analysis volumes and biological data volumes. Bioinformatics is part of computational biology. Computational biology is concerned with the quantitative analytical techniques applications in solving problems and modeling of the biological systems. Bioinformatics, which is an interdisciplinary approach, requires the advanced knowledge in computer science, statistical methods and mathematics for the better understanding of the biological phenomenon.
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Trends and Challenges faced by the Industry
Government compliance ‐ there is constant usage of new technologies in the R & D activity of drug development and discovery process. Thus, the technologies are enhancing the R& D activities. However, the regulatory bodies require authenticity of the data, thus hampering this advancement. Currently, various suppliers are adding various features that help the clients in achieving the required standards, which is required by the regulatory bodies to ensure data security.
Industry turmoil ‐ the consolidation of the bioinformatics sector will benefit the key players of the market. With the merger and acquisition of the companies, has resulted in conglomeration, which improves various product offerings and acquire large market share.
Focus shift - there has been a shift of focus from genomics to proteomics; this is due to the increasing interest in the field of proteomics. The interest is due to the identification of various targets in therapeutics and discovery of biomarkers for various diseases. With The demand from the pharmaceutical companies, proteomics tools are experiencing an increase in demand.
Lack of multiplatform and interoperability - There is a demand for flexible and easy to use products from the end users. However, there is lack interoperability in many products currently commercialized. Thus, hampering sales as the end users prefer tools with multi-platform compatibility.
Lack of standard formats ‐ the end users require data access from different sources, which are generated from various other experimental methods present in various different formats. However, there is always a requirement of manual intervention, which contributes to various errors, thus creating a bottleneck.
Difficulties faced in integrating the applications ‐ there is always a need for analysis of different problems such as in evaluating gene expression. There is always a need for manual intervention that slows down the process of analysis.
Management of data ‐ due to the large amount of the data generated, with the various technologies available, there is now a need for analysis, annotation, retrieval and storage. Slow data management creates inefficiency and burdens the systems data managers and administrators.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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