The global Bioinformatics Services Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global Bioinformatics Services Market size is expected to value at USD 4.1 billion by 2024, due to increasing demand from healthcare sector to carry out various studies such as cell signaling, pathway metabolism, gene-receptor interactions, and target differentiation. Favorable government policies and initiatives coupled with increasing funding for genomics oriented research & development, rising demand for drug discovery as well as biomarker development processes are expected to stimulate the growth of bioinformatics services industry over the forecast period.
Key Players:
- Nxt-Dx
- GVK Biosciences
- Biovia (Accelrys Inc)
- Illumina Inc.
- IBM Life sciences
- Qiagen
- Non Linear Dynamics.
- Biomax Informatics AG.
- DNAnexus Inc.
- Geneva bioinformatics
- Affymretrix
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Growth Drivers:
In addition, swift decline in cost of DNA sequencing is expected to play major role in future market growth of bioinformatics services market. Globally, the bioinformatics services industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Massive investment for research & development by both government authorities & private bodies in the areas of metabolomics, proteomics, and transcriptomic is anticipated to foster market requirement of advanced IT solutions for large data storage and enhanced analysis .Studies involving proteomics and genomics require large arrays of structural information, which has to be stored and processed accordingly to extract information. The bioinformatics services helps to analyze and monitor large chunks of data with higher processing rate.
Incorporation of information and communication technology (ICT) infrastructure along with various operating entities or through relocation of data services with the help of cloud computing technology, which is maintained by a third parties, thus driving emerging demand, are predicted to fuel market growth over the next seven years. However, lack of skilled labor force and higher initial cost are some of the key challenges for sustained market growth. Other factor restraining industry growth include high volume statistics management and industry consolidation, particularly applicable for end-user manufactures.
Application Outlook:
- Genomics
- Transcriptomics
- Proteomics
- Metabolomics
- Drug Discovery
Sector Outlook:
- Medical
- Animal
- Agricultural
- Academics
Regional Insights:
North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in healthcare sector, increase in the research & development activities in the region, and existence of well-established medical infrastructure. Asia-Pacific region is predicted to hold major market share in the bioinformatics services with massive growth in forecast period.
Countries such as India, China and Japan are leading the Asia-Pacific market with substantial advancements in the healthcare infrastructure in the region, favorable government policies & initiatives, and significant investment by leading industry players considering potential growth opportunities in the region.
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