KEY FINDINGS The Global Bioinformatics market is anticipated to grow at a CAGR of 19.37% over the forecast period of 2018 – 2026. 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.
MARKET INSIGHTS The market is mainly segmented into products and services, market by products and market by application.The Genomics application which involves analysis of a complex set of genes, their expressions, and the subsequent role played in biology is anticipated to dominate the Global Bioinformatics during the forecast period.
The transcriptomic and metabolomics markets are also predicted to grow significantly.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.
The antibiotic resistance held the highest market share in terms of products for 2017. However, the products for forensic analysis of microbes are expected to grow at a faster CAGR of during the forecast period.
REGIONAL INSIGHTS The global bioinformatics market is geographically segmented into North America, Europe, Asia-Pacific and rest of the world markets.North America accounted for the highest revenue share in 2017, and it is expected to maintain this lead throughout the forecast years.
The U.S is a major contributor to this region. High research funding and growing platforms for bioinformatics are responsible for the progression of this market. Another promising market for bio-informatics is the Asia-Pacific market which is expected to evolve with the second-highest CAGR.
COMPETITIVE INSIGHTS 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 that are 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, Geneva Bioinformatics SA, and Noray bioinformatics SLU.
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