Bioinformatics Market Stand Out as the Biggest Contributor to Global Growth by Key players: Accelrys, Affymetrix, Agilent technologies, Geneva bioinformatics, Non linear dynamics, Quest Diagnostics and More
The plunge would be due to the widespread application in preventive medicine, gene therapy and drug discovery & development using bioinformatics tools. The academics sector is forecast to be the potential segment, which is expected to grow at a CAGR of 38.5% during 2014-2020.
Bioinformatics Market was valued at $3.4 billion, and is expected to reach $12.8 billion by 2020, supported by a CAGR of 21.2%. Bioinformatics is defined as conceptualize biology in terms of molecules and then the application of information technology to organize and understand the data which is associated with these molecules on large scale bases. Bioinformatics utilizes computer to collect data, analyze, integrate and store the molecular ad biological data, which is then utilized in application such as drug development and discovery.
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The technology and services are the two important segments of this market. The technology is of two types knowledge management tools and bioinformatics platform. The Bioinformatics Content/Knowledge Management Tools is estimated to the highest revenue generating segment followed by the services segment.
The global bioinformatics market is an emerging field, used in various fields of biology. Bioinformatics is the combination of information technology, statistics, molecular biology and algorithms to analyze the data obtained from various experiments.
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.
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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.
The geography market is segmented into North America, Europe, Asia Pacificand RoW. North America is the highest revenue generating region due to the widespread adoption of advanced technologies in the region. TheAsia Pacificregion is expected to have the highest growth potential during the analysis period and this is due the funding initiatives done by the government. In addition, many private players in the bioinformatics sector are entering the untapped regions to obtain large market share.
Principal strategies adopted by the manufactures are product launch, agreements and collaborations. Most of the agreements done are for the expansion of the product portfolio, example - Agilent technologies announced an agreement with SRI international. According to the agreement, the products of Agilent - GeneSpring GX, Mass Profiler Professional GeneSpring NGS and Pathway Architect version 12.5 with SRI International's complete BioCyc Pathway Database Collection would be offered as a combined package to the users. Thus, allowing end users to access, visualize, combine and analyze biological data.
• The report provides detailed examination about the driving and limiting factors of the bioinformatics market, which would give a deeper understanding of the subject and help in analyzing the various applications of bioinformatics
• The application segment helps in analyzing the various application segments, thus helping the stakeholders understand opportunities in the various fields of bioinformatics market
• To understand the bioinformatics market segmentation and its share and to gain a deeper understanding of trends adopted
• The report analyzes the industry conditions and computational biomodeling in a comprehensive and quantitative manner and forecast industry trends and techniques used in bioinformatics
• The computational biology industry forecast are discussed in terms of revenue throughout 2013 to 2020.
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