Bioinformatics is the study of biological sciences and information technology. It is used to analyze the computational methods and to develop new algorithms by gaining knowledge from various subjects such as statistics, computer sciences, and mathematics. The factors driving the growth of the global bioinformatics market are the usage of bioinformatics analysis to understand genomic patterns in DNA, breakdown the cell structure of genes, and innovations in data analytics and cloud computing. As per a newly published research report by IndustryARC, the global bioinformatics market size is estimated between $9.2 billion to $9.6 billion, and the demand for the market is projected to grow at an impressive CAGR of 12% to 14% during the forecast period of 2019-2025.
As per the analyst of the report, the demand for the genomics application is estimated to grow at a notable CAGR of 11% to 12% among the other applications such as medicine, proteomics, agriculture, and transcriptomics. According to the Center for Disease Control and Prevention, every single year more than 7 million deaths worldwide are due to diseases caused by the consumption of tobacco. The increase in demand for genomics is attributed to the latest innovation of personalized medicine for tobacco smokers. These diseases are controlled by using two genomics medicines such as CHRNA5 and CYP2A6. These different biomarkers have their own diagnostic ability to stop the smoking habit.
Geographically, the Americas is depicted as the key region for the growth of the global bioinformatics market, with maximum share of 36% to 38% during the forecast period of 2019-2025. The wide usage of bioinformatics tools and software in this region is resulting in the growth of the market. In America, these tools are used in various research fields such as data mining, neural networks, drug discovery, drug development, molecular modeling, and artificial intelligence. The report is titled “Bioinformatics Market: by-product (bioinformatics platforms, knowledge management tools, services); by the application (medicine, agriculture, genomics, proteomics, transcriptomics, etc.); by sector (clinical diagnostics, gene therapy, others); by geography- forecast (2019 – 2025)”.
Global Bioinformatics Market: Trend
- TBI- An Emerging Field In Bioinformatics –
Translational bioinformatics (TBI) is an emerging field of biomedical data sciences and informatics technologies. It is used to translate genetic, molecular, and cellular data into health implications such as diabetes, musculoskeletal disorders, and some cancers. It is also used in the application of innovative methods which bridges the gap between real-world application and bench research to human health.
Global Bioinformatics Market Companies: Recent Developments
Some of the major players operating in the global bioinformatics market are Agilent Technologies Inc., Biomax Informatics AG, Dassault Systemes Biovia Corp, Bruker Corporation, Qiagen, Illumina Inc., Permin Elmer Inc., Applied Biologicals Materials, Waters Corporation, and Thermo Fisher Scientific Inc.
- Agilent Technologies Inc. –
Agilent is an American public research, development, and manufacturing company which delivers a wide variety of scientific solutions to customers. Agilent has completed the acquisition for $250 million with ACEA Biosciences Inc., the developer of cutting edge cell analysis tools. This acquisition is used to develop many new inventions in the life science and real-time analysis.
Agilent’s innovation GeneSpring GX technology offers accessible and powerful statistical tools for intuitive visualization and data analysis. It is used to understand various molecular biology concepts within a biological context such as genomics, proteomics, NGS data, Metabolomics, and Transcriptomics. It also provides various statistical tools to merge multi-omic data into a single biological text.
Bioinformatics technology is used to analyze the computational methods and to develop new algorithms by gaining knowledge from various disciplines. Translational bioinformatics is generating market revenue for the key players operating in the global bioinformatics market during the forecast period of 2019-2025.
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