The Global Bioinformatics Market is anticipated to grow at a CAGR of close to 18% during the forecast period, reaching a market value of approximately $14 billion by 2024.
The factors responsible for the growth of the bioinformatics market includes rise in nucleic acid and protein sequencing and increasing initiatives from the government and private organizations. Moreover, increasing collaborations between companies and research institutes is further propelling the growth of the market. However, the lack of well-defined standards and common formats for data integration are likely to hamper the growth of the market in the forthcoming years.
The Global Bioinformatics Market can be segmented based on product & services, applications, sectors and regional analysis. Based on product & services, the market can be segmented into Knowledge Management Tools, Bioinformatic Platforms and Bioinformatic Services. Among them, Knowledge Management Tools accounted for the largest share of the market until 2018. The bioinformatics platforms segment is anticipated to grow at the highest rate during the forecast period on account of its use in drug discovery and development.
Based on region, the market is segregated into North America, Europe, South America, Asia-pacific and Middle East and Africa. Among them, North America dominated the market until 2018 and is expected to maintain its dominance in the next 5 years as well which is attributed to upsurge in adoption of advanced technology and increase in the demand for better bioinformatics tools.
The major players operating in the Global Bioinformatics Market include Illumina Inc. Life Technologies (Thermo Fischer Scientific), Qiagen NV, Agilent Technologies, PerkinElmer, Accelrys Inc., Geneva Bioinformatics SA, Ontoforce, Data4Cure and Life Map Sciences (Biotime). Major companies are developing advanced technologies in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study
To analyze and forecast the market size of the Global Bioinformatics Market.
To classify and forecast the Global Bioinformatics Market based on product & services, applications, sectors and regional distribution.
To identify drivers and challenges for the Global Bioinformatics Market.
To examine competitive developments such as expansions, mergers & acquisitions, etc., in the Global Bioinformatics Market.
To conduct the pricing analysis for the Global Bioinformatics Market.
To identify and analyze the profile of leading players operating in the Global Bioinformatics Market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Bioinformatics Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By Product & Services (Knowledge Management Tools, Bioinformatic Platforms and Bioinformatic Services) 5.2.2. By Applications (Microbial Genome, Gene Engineering, Drug Development, Personalized Medicine, Omics and Other Applications) 5.2.3. By Sectors (Forensic Biotechnology, Medical Biotechnology, Academics, Environmental Biotechnology, Animal Biotechnology and Agriculture Biotechnology) 5.2.4. By Company (2018) 5.3. Market Attractiveness Index
6. North America Bioinformatics Market Outlook
7. Europe Bioinformatics Market Outlook
8. Asia-Pacific Bioinformatics Market Outlook
9. Middle East & Africa Bioinformatics Market Outlook