$13.5 bn Bioinformatics Market by Product & Service, Applications and Sectors - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 20, 2018--The “Bioinformatics Market by Product & Service, Applications, & Sectors - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 7.73 billion in 2018, at CAGR of 14.5%
Growing demand for nucleic acid and protein sequencing, applications of bioinformatics in proteomics and drug discovery, clinical diagnostics and personalized medicine are the major factors driving the growth of the bioinformatics market. On the other hand, lack of well-defined standards and common formats for data integration are the major factor restraining market growth.
On the basis of product and service, the global bioinformatics market is divided into knowledge management tools, bioinformatics platforms, and services. In 2018, the knowledge management tools segment is expected to account for the largest share of the global bioinformatics market due to the large amount of sequencing data that is being processed in the research and clinical space.
On the basis of applications, the global bioinformatics market is divided into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. The metabolomics segment is expected to account for the highest growth rate in the bioinformatics market during the forecast period. The rising application of metabolomics in various disease-related projects and support from the government in the form of funding is positively affecting market growth.
On the basis of sector, the global bioinformatics market is divided into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology is subsegmented into drug discovery & development, clinical diagnostics & precision medicine, reproductive health. In 2023, the medical biotechnology segment is expected to account for the highest growth of the bioinformatics market. The rising adoption of bioinformatics tools in pharma and clinical applications is driving market growth.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Bioinformatics: Market Overview
5 Market Overview
6 Bioinformatics Market, By Products and Services
7 Bioinformatics Market, By Application
8 Bioinformatics Market, By Sector
9 Bioinformatics Market, By Region
10 Competitive Landscape
11 Company ProfilesThermo Fisher Scientific Illumina Inc Agilent Technologies QIAGEN Beijing Genomics Institute (BGI) Wuxi NextCODE Eurofins Scientific Waters Corporation Sophia Genetics Partek DNASTAR Wuxi Nextcode Biomax Informatics AG Perkinelmer, Inc. For more information about this report visit https://www.researchandmarkets.com/research/7k7qm3/13_5_bn?w=4
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SOURCE: Research and Markets
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PUB: 09/20/2018 07:23 AM/DISC: 09/20/2018 07:22 AM