Global Bioinformatics Market Forecast 2017-2025
- September 2017
- Report ID: 4976566
The Global Bioinformatics market is anticipated to grow at a CAGR of 19.01% over the forecast period of 2016 – 2025. The market revenue is also expected to rise from $6475 million in 2016 to $32540 million by 2025. The fact that bioinformatics has emerged as a key tool for drug discovery processes due to its high throughput screening, aided by recent advancements in proteomics and genomics, is majorly responsible for driving the global market. The various initiatives undertaken by the government coupled with the developments in IT sector are propelling the market growth.
The market is mainly segmented into service, market by products and market by application.The Genomics application which involves analysis of a complex set of genes, their expressions, and their subsequent role played in biology is anticipated to dominate the Global Bioinformatics market by growing at a CAGR of 25.70% during the forecast period. The transcriptomic and metabolomics markets are also predicted to grow at a CAGR of 15.74% and 19.53% respectively. The Bioinformatics platforms market that comprises of sequence analysis, sequence alignment, structural analysis, sequence manipulation and other platforms is expected to lead the Global Bioinformatics Market in terms of Product and Services with a CAGR of 22.31%. The molecular medicine held the highest market share of 30.36% in terms of products in 2016. But, it is the preventive medicine product sector that is expected to grow at a faster CAGR of 19.74% during the forecasted period
The Asian bioinformatics market is estimated grow at CAGR of 18.43% owing to the emerging markets like China and India in this region and is anticipated to generate a net worth of $4400 million by 2025. The European countries like Germany and U.K. have a huge bioinformatics market which is stimulated by the continuous R&D activities in the region initiated by the European government. The market is expected to generate $10543 million by the end of the forecast period. However, it is the North American market that is anticipated to hold the largest share by the year 2025 by exhibiting the fastest CAGR growth of 20.92%. The rest of the world bioinformatics market consists of regions like North Africa and South Africa, the Middle East and Latin America. The bioinformatics market is expected to show a steady growth in these regions because of the growing bioinformatics platforms stimulated by proteomics and genomic growth.
The Qiagen Company provides over 500 consumable products as well as a number of instrument solutions to fully automate the processing of almost all Qiagen biological materials used for sample preparation and their subsequent analysis in the field of molecular biology. Affymetrix Inc is another such company that offers life science products for the applications of genotyping and gene expression. Some of the other prominent players include Illumina Inc, Waters Corporation, Agilent Technologies, Inc, Thermo Fisher Scientific Inc., Sencel bioinformatics, S.A.F.A.N. Bioinformatics SAS, Biovia, Regeneron Pharmaceuticals, Biomax Informatics AG, Qiagen n.v., Inc, Geneva Bioinformatics SA, and Noray bioinformatics SLU.