Press release
In the Crowded Bioinformatics Market, There's Room for Innovation
The global bioinformatics market garnered $8.61 billion in 2019, and is estimated to reach $24.73 billion by 2027, registering a CAGR of 13.4% from 2020 to 2027". The study provides an extensive analysis of changing market trends, top winning strategies, key segments, value chain, Porter's Five Forces, and competitive landscape.Read More https://www.alliedmarketresearch.com/bioinformatics-market
Increase in requirement of integrated data, rise in proteomics & genomics research activities, and surge in drug discovery and development activities drive the growth of the global bioinformatics market. However, common data formats and lack of skilled personnel hinder the market growth. On the other hand, rise in need for integrated solutions present new opportunities in the coming years.
Covid-19 Scenario:
The demand for bioinformatics tools increased during the Covid-19 pandemic as they have an ability to handle huge volumes of biological data.
Scientists and researchers across the world have been utilizing bioinformatics technology and tools to develop a vaccine for the coronavirus.
The report offers detailed segmentation of the global bioinformatics market based on technology & services, application, sector, and region.
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Based on technology & services, the bioinformatics platforms segment accounted for the highest share in 2019, contributing to more than two-fifths of the total market share, and will maintain its lead position during the forecast period. However, the bioinformatics services segment is estimated to witness the highest CAGR of 22.9% from 2020 to 2027.
Based on end user, the genomics segment held for the highest share in 2019, accounting for nearly one-fourth of the global bioinformatics market, and is expected to maintain its dominant share during the forecast period. However, the transcriptomics segment is projected to manifest the fastest CAGR of 18.5% from 2020 to 2027.
Based on region, North America contributed to the highest market share in 2019, accounting for nearly two-fifths of the total share, and will maintain its leadership status by 2027. However, LAMEA is expected to witness the highest CAGR of 16.8% during the forecast period.
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Leading players of the global bioinformatics market analyzed in the research include Agilent Technologies, Inc., DNAnexus, Inc., Biomax Informatics AG, Intrexon Bioinformatics Germany GmbH, Genedata AG, Perkinelmer Inc., Illumina Inc., Seven Bridges Genomics Inc., Qiagen N.V., and Thermo Fisher Scientific, Inc.
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About Allied Market Research
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