Bioinformatics Market Worth $7.5 Billion by 2017
DALLAS, June 18, 2013 /PRNewswire/ --
The "Bioinformatics Market By Sector (Molecular Medicine, Agriculture, Research & Forensic), Segment (Sequencing Platforms, Knowledge Management Tools & Data Analysis Services) & Application (Genomics, Proteomics & Drug Design) - Global Forecasts to 2017", analyzes and studies the Major Market Drivers, Restraints, and Opportunities in North America, Europe, Asia-Pacific and Rest of World.
- 120 Market Data Tables
- 22 Figures
- 364 Pages and an in-depth Table of Content on "Bioinformatics Market"
Early buyers will receive 10% customization on this report.
This report studies the global Bioinformatics Market over the forecast period 2012-2017.
The Global Bioinformatics Market was valued at $2.9 billion in 2012 and is poised to reach $7.5 billion by 2017 at a CAGR of 20.9%. Bioinformatics Technologies are used in various pharmaceutical and biotechnology sectors to support their growth.
Major sectors that use bioinformatics tools and services are:
- Others (Home Land Security & Defense, Law-Enforcement Groups, Bio-Weapon Creation, and Evolutionary Biotechnology).
The Medical Sector accounted for the lion's share of the Bioinformatics Market, owing to the increasing use of bioinformatics in the drug discovery and development process.
Product and services in the Bioinformatics Market comprise of Platforms, Knowledge Management Tools, and Services. The Bioinformatics Platforms Market is the fastest-growing segment, as they play a crucial role in quick and easy analysis and manipulation of large amounts of data obtained from NGS projects.
Applications of Bioinformatics in Life Sciences Research include Genomics, Proteomics, Chemoinformatics, Molecular Phylogenetics, Metabolomics, Transcriptomics, and others (Glycomics, Cytomics, Physiomics and Interactomics). Genomics commands the largest share of the bioinformatics application market.
The decreasing cost of DNA sequencing, increasing funding from government and private organizations, and technical advancements in bioinformatics tools and platforms are propelling the market. Dearth of a common data format for integration of data, lack of well-defined standards, and shortage of skilled bioinformatics professionals are major hurdles to growth of the market. It is expected that the market will offer growth opportunities for bioinformatics solutions manufacturers with the introduction and adoption of upcoming technologies such as nanopore sequencing and cloud computing.
North America accounted for the largest market share of the bioinformatics market, followed by Europe, in 2012. However, other regions such as Asian and Latin American countries represent emerging markets, owing to a rise in research outsourcing by pharmaceutical giants, increasing number of Contract Research Organizations (CROs), rise in public and private sector investment, and growing industry-academia partnerships.
Buy a copy of this Report @http://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=39
Browse related reports to Healthcare Information Technology Market @http://www.marketsandmarkets.com/healthcare-information-technology-171.html
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals; including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, telecommunications and IT, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, healthcare information technology, aerospace & defense.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
More by this Source
Bioactive Ingredients Market Worth $33.6 Billion by 2018
Apr 17, 2014, 13:00 ET
Flow Cytometry Market worth $3.7 Billion in 2018
Apr 17, 2014, 12:00 ET
Wireless Network Security Market worth $15.55 Billion by 2019
Apr 17, 2014, 11:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.