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| Bioinformatics Market |
The introduction and adoption of cloud computing and nanopore technology are
expected to offer numerous opportunities in the global bioinformatics market. The nanopore
technology has been projected for getting used in the study of crop
science, deoxyribonucleic acid (DNA), ribonucleic
acid (RNA), proteins and small molecules with a range
of applications in personalized medicine, and scientific research.
Bioinformatics is a discipline that deals with the retrieval, storage,
processing, management and analysis of organic information through
computational techniques. Bioinformatics plays an important role in drug
innovation and improvement. The involvement of bioinformatics in storing,
retrieving, analyzing and forming biological information helps in efficiently
managing enormous database associated with drug innovation and development.
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Bioinformatics technologies are used in various pharmaceutical and
biotechnology sectors. They are mainly used in the medical sector, which is
driven by the increasing use of bioinformatics for the drug development and
discovery process. Falling prices of DNA sequencing and increasing government
initiatives to boost bioinformatics based life sciences research activities are
the two major growth drivers of the global bioinformatics market. Some of
the other drivers contributing to growth the of global bioinformatics market
includes, increasing demand for bioinformatics as a consulting solution by
pharmaceutical manufacturers and medical devices, in an effort to accelerate
and improve manufacturing processes, with the increasing need for
bioinformatics in data incorporation and warehousing.
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Moreover, the use of bioinformatics helps in optimizing the research and
development process by post clinical trials and thoroughly managing the large
amount of data, thereby accelerating and simplifying the process of drug target
acknowledgement.
North America dominated the global bioinformatics market in 2013, by holding
approximately 42% of the market share. The availability of encouraging
government support in terms of funding and large number of research initiatives
carried out in the region are some of the factors responsible for worldwide
dominance of the region. The Asia-Pacific bioinformatics market is projected to
be the fastest growing regional market in the forecast period. High
availability of trained labors in countries such as, China and India with low
labor costs has inspired manufacturers to stick upon contract research
outsourcing strategies for limiting costs, which has enormously contributed to
the growth of Asia-Pacific bioinformatics market.
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Some of the key competitors within the global bioinformatics market include
Tripos, LP, Affymetrix, Inc, Agilent Technologies, Illumina, Inc., Helicos
Biosciences Corporation, IBM Life Sciences, Thermo Fisher Scientific Inc,
Rosetta Inpharmatics LLC, Celera and others.
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