Bioinformatics in IVD Testing Market : Global Forecast Over 2024
Bioinformatics, a multidisciplinary research field, is a combination of biology, computer science, mathematics, and statistics for managing the proliferating biological information. The software and applications in bioinformatics is leveraged to accumulate, examine, store, and integrate biological and genetic information. Those can be used later on for gene based drug development. The computer diagnostics creates opportunities for pathologists and clinicians for culturing viruses and pathogenic bacteria. This enables them to understand the epidemiology and disease. Bioinformatics based testing is already having an impact on cancer diagnostics and therapeutic management.
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A report on the global bioinformatics in IVD testing market by Transparency Market Research studies it from various angles. To that end it factors in the different market-specific and macro-fundamentals that are providing tailwinds and headwinds to the market. The report also segments the global bioinformatics in IVD testing market based on different parameters. It then studies the potential of each segment. Further, the report tries to unravel the competitive landscape by banking upon analytical tools such as SWOT Analysis and Porters Five Forces.
Global Bioinformatics in IVD Testing Market: Regional Analysis
The global bioinformatics in IVD testing market is rising with the growing prevalence of diseases such as cancer and HIV. Earlier, in-vitro diagnostics tests were carried out and interpreted by lab and clinical technicians. But with the rising instances of cancer and HIV, a massive market has been created for mass spectroscopy, DNA sequencing, proteomics and genomic based devices and technologies.
Already, several IT behemoths of the likes of IBM are partnering with laboratory testing vendors and manufacturers for building customized algorithms and software with respect to particular diseases or conditions. Those would help fortify results of tests and diagnosis by skilled personnel.
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Other factors promoting the bioinformatics in IVD testing market are lower price of genome sequencing which has resulted in proliferation of genetic information on diseases and health. However, dearth of regulations and government interventions for protecting and sharing data of patients are serving to hamper the market. Insufficient knowledge about biobanks and similar other depositories which not just store but also protect patient history, is also posing a challenge to the bioinformatics based IVD testing market.
In order to further analyze the global bioinformatics in IVD testing market, the report segments it based on types of tests, namely tissue based tests and blood based tests. The different bioinformatics based test in the market are mass spectroscopy based test and genome sequencing tests.
Global Bioinformatics in IVD Testing Market:
The report on the global bioinformatics in IVD testing market segments it geographically into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. It finds that the market in North America and Europe are most advanced because of a state-of-the-art healthcare infrastructure in the region and the early adoption of latest technologies. Europe market has come to hold a prominent position for the very same reasons. Meanwhile bioinformatics in IVD testing markets in Asia Pacific and Latin America are developing fast because of the strengthening healthcare infrastructure in the regions.
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Global Bioinformatics in IVD Testing Market: Competitive Landscape
Key IT and IVD companies in the global bioinformatics in IVD testing market include Aperio Technologies, Inc., Medtronic Inc., Chronix Biomedical Inc., Everist Genomics, Inc., IBM Corporation, Signal Genetics, Biodiscovery, Inc., and Silicon Valley Biosystems. The report studies their product offerings and sales and revenues.
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