Bioinformatics in IVD Testing Market Latest Trends and Forecast Analysis up to 2019
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Traditionally in-vitro diagnostic tests earlier were generally performed and interpreted by clinical and lab technicians but with the growing prevalence of rare and life threatening diseases such as HIV, cancer among others have created a huge market for DNA sequencing, mass spectroscopy, genomics and proteomics based technology and devices. Many IT giants such as IBM and others are collaborating with laboratory testing vendors and manufacturers for developing specialized algorithms and software pertaining to specific disease or conditions which in near future would complement the skills of human based test interpretations and diagnosis.
One of the novel technological innovation in this field comprises IBM’s Watson supercomputer which uses specific algorithms and previously stored patient databases in analyzing and recommending the best suitable treatment and therapy on a case to case basis. Such technological up gradations have not only let researchers and scientists in disease analysis but also divulged insight to questions as to why a person gets affected by certain diseases such as cancers or tumors and difference in therapeutic responses from one person to other.
In June 2013, EMBL and EMBL-EBI have joined Global Alliance, an organization that partners with different healthcare providers and research institutes which will share their findings, databases and product description among other Global Alliance partners for further comments and refinement. Such collaboration and alliances enable various research organizations and institutes for developing interoperable information-technology platforms for biomedicine for novel and low cost drug developments and detecting the root cause for some of the incurable diseases such as Alzheimer’s disease and other similar diseases. Major drivers that are compelling the growth for this market include collaboration of bioinformatics and in-vitro diagnostic companies with information technology companies for designing and developing specific software and algorithms which can be practically implemented in detecting and diagnosing specific un-curable or inherited diseases.
The reduced cost of genome sequencing in past few years is fueling the flow of information with respect to genetic basis of health and diseases. Lack of norms and government interventions for sharing and protecting data of patients are one of the prominent reasons for slow uptake of genomic medicines in clinical setting. Lack of awareness about biobanks and other similar depositories which stores and protect patient history and records also a major restraint for bioinformatics based IVD testing market. The global market for bioinformatics in IVD testing can be segmented on the basis of test types such as blood based tests and tissue based tests. Apart from this they can also be further segmented on the basis of disease type and recent trends with respect to bioinformatics based test such as mass spectroscopy based test, genome sequencing tests as well as prominent software types.
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Some of the prominent IT and IVD players in the market encompasses Aperio Technologies, Inc., Chronix Biomedical Inc., Medtronic Inc., Everist Genomics, Inc., Signal Genetics, Silicon Valley Biosystems, Biodiscovery, Inc., IBM Corporation and others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Rest of the World
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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