19.8% CAGR of growth in the Bioinformatics Market during the forecast period of 2018-2023| Major Vendors - AGILENT TECHNOLOGIES, AFFYMETRIX, ILLUMINA, QIAGEN, PERKINELMER, ACCELRYS, INC., amongst others

Market Analysis:

North America to Dominate the Market
Owing to the factors, like the growing demand for bioinformatics across genomics and proteomics research, technological advancements, increasing research funding, and the presence of a large number of market players and research institutes in the region, North America dominates the global bioinformatics market.

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Bioinformatics is the application of computational technology to gather, store, analyze, and integrate biological data. This data is used to procure information that can be applied to gene-based drug discovery and development, protein structure studies, and in order to determine the therapeutic efficacy of drugs. With the completion of the Human Genome Project (in 2001) and the Human Proteome Project, a vast amount of data has generated, which has given a new dimension to the profiling of proteomic and genomic analyses. The data generated, out of these projects, has driven the growth of the global bioinformatics market, due to the growing demand for tools and platforms for data management, data retrieval, sequence alignment, structure prediction, and other bioinformatics applications.
Other factors driving the market include increasing government spending and rise in R&D initiatives.

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Market Segments
Bioinformatics Market is segmented by:
1. Technology: By Platforms (Sequence Analysis Platforms, Sequence Alignment Platforms, Sequence Manipulation Platforms, Structural Analysis Platforms), By Tool (Bioinformatics Content Management Tools, Bioinformatics Work-Flow Management Systems, Software, Web Services), By Service (Database Management, Data Analysis, Sequence Services)
2. Application: Microbial Genome, Gene Engineering, Drug Development, Personalized Medicine, Omics, Others
3. End-Users: Pharmaceuticals, Animal Studies, Agriculture, forensic Science, Academics, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• January 2018: Thermo Fisher Scientific introduced Ion GeneStudio S5 Series, a line of highly versatile next generation sequencers.
• November 2017: Biomillenia collaborated with QIAGEN for the use of QIAGEN's Microbial Genomics Pro Suite, in order to generate next-generation sequence data on microbes identified using Biomillenia's proprietary microbiome-on-a-chip technology.
• August 2016: Agilent Technologies and Eurofins Genomics collaborated to expand SureVector cloning system

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