Global Bioinformatics Market By Product & Services, By Applications, By Sectors, By Region, Competition, Forecast & Opportunities, 2024
NEW YORK, July 1, 2020 /PRNewswire/ --
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Global Bioinformatics Market By Product & Services (Knowledge Management Tools, Bioinformatic Platforms & Bioinformatic Services), By Applications (Microbial Genome, Gene Engineering, Drug Development, Personalized Medicine, Omics & Others), By Sectors (Forensic Biotechnology, Medical Biotechnology, Academics, Environmental Biotechnology, Animal Biotechnology & Agriculture Biotechnology), By Region, Competition, Forecast & Opportunities, 2024
Global bioinformatics market is anticipated to grow at a CAGR of close to 18% during the forecast period.The global bioinformatics market is expected to witness progressive growth and reach the market value of around $ 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 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.
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 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 global bioinformatics market.
• To classify and forecast global bioinformatics market based on product & services, applications, sectors and regional distribution.
• To identify drivers and challenges for global bioinformatics market.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., in global bioinformatics market.
• To conduct the pricing analysis for global bioinformatics market
• To identify and analyze the profile of leading players operating in the global bioinformatics market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, distribution channels and presence of all major service providers across the globe.
The analyst calculated the market size of global bioinformatics market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product and services types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Bioinformatic service providers
• Research organizations and consulting companies
• Trade Associations, organizations, forums and alliances related to bioinformatics
• Government bodies such as regulating authorities and policy makers
• Industry associations
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global bioinformatics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Product & Services:
o Knowledge Management Tools
o Bioinformatic Platforms
o Bioinformatic Services
• Market, by Applications:
o Microbial Genome
o Gene Engineering
o Drug Development
o Personalized Medicine
o Omics
o Other Applications
• Market, by Sectors:
o Forensic Biotechnology
o Medical Biotechnology
o Academics
o Environmental Biotechnology
o Animal Biotechnology
o Agriculture Biotechnology
• Market, by Region:
o North America
- United States
- Mexico
- Canada
o Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
o Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
o Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
o South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global bioinformatics market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
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