Press release
Demand for Bioinformatics Market Scope Emerging Trends, Analysis and Forecast 2021-2028
According to Transparency Market Research's latest report on the global bioinformatics market for the historical period 2017-2019 and forecast period 2021-2028, rise in demand for nucleic acid & protein sequencing, increase in initiatives by private & government organizations, growth of proteomics & genomics, and surge in research on molecular biology & drug discoveryResearch Report: https://www.transparencymarketresearch.com/bioinformatics-market.html
Increase in Usage of Bioinformatics in Drug Discovery: Key Driver
Bioinformatics is an important tool for managing the large data generated during the drug discovery process, starting from pre-clinical trials to target identification and screening. Bioinformatics data management stores the data at one place, thereby enabling effective analysis of information whenever required. This helps in increasing R&D productivity of a company by recognizing drug targets.
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Bioinformatics technologies can save time and money, as it combines data into different interactive models to highlight disease pathway and aid drug discovery. Drug development can take years to complete and the cost associated could exceed millions of dollars. Use of bioinformatics can cut down the cost by 33% to 38%. It can also help the companies to overcome the challenges of storing the valuable and extensive processing data.
Need of Integrated Solutions to Drive Market
Significant investments by pharmaceutical companies in chemical and drug research is expected to drive the global market in the next few years. Bioinformatics platforms were initially considered IT tools; however, presently, these are used as integrated solutions that provide algorithms and statistical tools for data analysis. Bioinformatics solutions help in integrating data management and analysis for applications such as gene sequencing.
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Lack of Common Data Format: Key Restraint
Diverse solutions of currently available bioinformatics platforms hamper the growth of the bioinformatics industry. The need of combining the available software to build a composite application for current single task tools is increasing. The tools should be compatible with each other to use the data. Current bioinformatics platforms do not offer a well-defined data format, which in turn restrains the bioinformatics market.
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Bioinformatics Market: Competitive Landscape
This report profiles major players in the global bioinformatics market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global bioinformatics market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global bioinformatics market are
Accelrys, Inc.
ID Business Solutions, Ltd.
Affymetrix, Inc.
CLC bio A/S
Agilent Technologies, Inc.
GenoLogics Life Sciences Software, Inc.
Life Technologies Corporation
Illumina, Inc.
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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