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Global Bioinformatics Platform Market ||Sophia Genetics, Qiagen, Dassault Systems, ID Business Solutions

07-07-2021 09:12 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Prophecy Market Insights

Global Bioinformatics Platform Market ||Sophia Genetics,

Bioinformatics is one of the branches of information technology. It deals with the development of software solutions in order to process biological data. Some of the applications included in the bioinformatics research are molecular folding, genome annotation, modeling, expression profiling, and gene/protein prediction. The advancements and emergence in bioinformatics are related to computerized programming which is specially manufactured to handle large volumes of DNAs, RNAs, proteins, and metabolites. The global bioinformatics platform market accounted for US$ 3.6 billion in 2019 and is estimated to be US$ 14.0 billion by 2029 and is anticipated to register a CAGR of 14.7%.

Impact of Covid-19 pandemic on market

Due to the outbreak of COVID-19, biopharmaceutical innovators are at the forefront of the human response. A huge number of foremost biotech companies are in the midst of a race to explore the Sars-Cov-2 genome and prepare a viable vaccine for the same. With multiple aspirants in the trial, the public and private sectors are expected to work in unison in the coming years, until a vaccine is developed for Covid-19. The report will estimate for Covid19 as a significant market contributor.

Drivers and Restraints:
A growing number of advanced systems and rising demand for advanced technologies to understand the characteristics of molecular biology are likely to propel the bioinformatics platforms market over the forecast period. Additionally, the introduction of readily and user-friendly bioinformatics software such as RasMol, BALL, AUTODOCK, Bioclipse is also driving growth of the target market. Further, rising market usage of these tools for effective and accurate analysis of biomarkers discovery programs that aid in toxicity detection throughout the initial stage of the drug development process are projected to surge the industry growth in the coming period.

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However, the lack of user-friendly tools at cheaper prices, skilled personnel, and common data formats are expected to limit the market growth over the forecast period. Nevertheless, growth in the integration of machine learning & AI in healthcare, increase in need for integrated solutions & systems, and software companies investing in the development of bioinformatics solutions are anticipated to offer remunerative bioinformatics market opportunity to bioinformatics solution developers.

Segmentation
The global bioinformatics platform market is segmented based on platform type, application, end-user, and region.

On the basis of platform type, the global bioinformatics platform market is segmented into a sequence analysis platform, sequence alignment platform, structural & functional analysis platforms, and others. On the basis of application, the target market is segmented into drug development, molecular genomics, gene therapy, personalized medicines, and others. Based on end-user, the target market is segmented into academic & research institutes, contract research organizations, and biotechnology organizations.

In the region, the global bioinformatics platform market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the worldwide leader in the bioinformatics platform market, due to the growing application of bioinformatics in both pharmaceutical and biotechnological research, followed by Europe and Asia. The market is increasing steadily mainly in the U.S. and Europe. The major driver for the bioinformatics platform market in the last few years is the decreasing costs of DNA analysis. Growth in the number of complete genomes is further speeding up the growth. However, lack of standardization is a limitation to the market.

Key Players:
The key players operating in the global bioinformatics platform market include Illumina Inc., Sophia Genetics, Qiagen, Dassault Systems, ID Business Solutions, Agilent Technologies, Genologics Life Sciences Software Inc., DNASTAR, Wuxi NextCODE, and BGI. Major players in the bioinformatics platform market are highly fragmented and have various strategies such as new product launches, agreements, expansions, joint ventures, partnerships, acquisitions, and others to expand their footprints in this market. For instance, in April 2019, The HANS-GINS Indxx Healthcare Innovation Ucits ETF will focus on developments in sectors including bioengineering, bioinformatics, genome sequencing, healthcare trackers, neuroscience, nanotechnology, robotics, and medical devices.

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marked represents similar segmentation in other categories in the respective section

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