According to a new market report published by Sheer Analytics and Insights (www.sheeranalyticsandinsights.com) entitled "Global Bioinformatics Market (By Products and Services: - Knowledge Management Tools, Bioinformatic Services and Bioinformatics Platform. By Application- Chemoinformatic, Genomics, Proteomics, Transcriptomics, Metabolomics, and Others, By End-user- Pharmaceuticals, Education, Forensic, Environment and Others and By Regions)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 - 2025"
The bioinformatics market was valued at USD 7.58 Billion in 2017 and is expected to reach at USD 23.14 Billion by 2025 growing at a Compound annual growth rate (CAGR) of 13.2% from 2018 to 2025. Rising demand for information technology, algorithms and statistics enabled molecular biology with a view to innovate new techniques of treatment and drug discovery by the biotechnology companies are expected to drive the global bioinformatics market. In addition, increasing adoption of bioinformatics in vaccine designing, automatic genome sequencing, prediction of gene functions, understanding protein structure and its functionality and identification of organism are further estimated to create new necessities and augment the market of growth over the forecast period of 2018-2025.
The bioinformatics market has been segmented based on products and services which is further divided into knowledge management tools, bioinformatics services, and bioinformatics platform. Based on the application the market has been segmented as Chemoinformatic, Genomics, Proteomics, Transcriptomics, Metabolomics, and Others. Furthermore, the market is segmented as end-user which is further sub-segmented as Pharmaceuticals, Education, Forensic, Environment, and Others. Highly complexed proteomic data coupled with an increase in research activities relating to protein function, protein-protein interaction, protein localization, and protein modification are expected to propel the demand for proteomics segment to adopt bioinformatics significantly during the forecast period.
The global bioinformatics market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East, and Africa region. In addition to this, North America region holds the largest market share. The reason may be attributed to the presence of established pharmaceutical companies coupled with rising demand for bioinformatics across proteomics and genomics research, increasing research funding and technological advancements in the region are further estimated to be prime factor responsible for North America region to hold the largest market share in the global bioinformatics market. The Asia-pacific market is expected to propel at the fastest CAGR owing to the increasing public spending towards healthcare segment and rapid adoption of IoT in the developing economies such as China, Japan, India, and others.
Some of the key players in the global bioinformatics market include ABM, Accelrys Inc., Agilent Technologies Inc., CLC bio A/S, Eurofins Scientific, Geneva Bioinformatics SA, Illumina Inc., Life Technologies, PerkinElmer and Waters Corporation.