The global bioinformatics market is expected to reach USD 13.47 billion by 2020 growing at an estimated CAGR of 21.2% from 2014 to 2020, according to a new report by Grand View Research, Inc. Growing clinical development of biopharmaceutical and increasing need for three-dimensional drug designing technology are expected to drive the market growth over the next five years.
Furthermore,
the development of bioinformatics tools and analysis platforms coupled with the
introduction of novel technologies are expected to be high impact rendering
factors for the growth of this market. Increasing demand for faster development
of novel API and biopharmaceuticals is also expected to enhance the growth of
this industry.
Growth
in the number of research and development studies in various ‘-omics’ related
segments and the need for integration of the large amounts of biological data
generated from these studies are also expected to encourage industry players to
develop faster, more efficient, and versatile bioinformatics software cum
platforms for commercialization.
Bio-content
processing accounted for over 47% of the revenue share in 2013. The presence of
increasing market demand for genetic database management, and need for related
sequence, structural and phylogenic analysis tools and software is the primary
factor accounting for this large share.
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more info visit here: https://www.grandviewresearch.com/industry-analysis/bioinformatics-industry
Moreover,
the sequence and structural analysis platform segment is expected to grow at
the fastest CAGR of over 20% over the forecast period owing to the development
of next-generation sequencing and expected reduction in the cost of whole
genome exome sequencing. These factors are expected to have a significantly
positive impact on the overall growth of this market in the next five years.
Chemo-informatics
and genomics accounted for over 50% of revenue share in 2013. Growing demand
for novel biomarkers for R&D of biosimilar drugs and biopharmaceuticals is
expected to significantly enhance the market penetration over the forecast
period.
Proteomic
applications are expected to attract a considerable amount of R&D
investment in the near future and witness lucrative growth over the forecast
period. Developments in three-dimensional drug development technologies are
further expected to boost the growth of this segment.
North
America accounted for over 40% of the global revenue in 2013. Factors
accounting for this large share include the presence of key pharmaceutical
companies in the region, which are involved in the clinical development of
novel APIs and biosimilar drugs. The presence of a technologically advanced
healthcare R&D framework also enhances this region’s investment
capabilities for the development of the aforementioned market segments.
Asia
Pacific is expected to register the fastest CAGR over the forecast period owing
to the presence of companies providing outsourcing services. Furthermore, the
presence of high unmet industry needs is expected to be a major
factor driving the growth of this region over the forecast period.
Key
players in this industry include IBM Life Sciences, BIOVIA, Life Technologies
Corporation, Agilent technologies, 3rd Millennium Inc., Celera
Corporation, Affymetrix, BioWisdom Ltd., and Rosetta Biosoftware.
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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