Bioinformatics Market

Bioinformatics Market is Expected to Represent $12,542.4 million in 2020
According to a new market report published by Persistence Market Research “Global
Market Study on Bioinformatics - Asia to Witness Fastest Growth by 2020,” the global
bioinformatics market was valued at USD 4,110.6 million in 2014 and is expected to grow at
a CAGR of 20.4% from 2014 to 2020, to reach an estimated value of USD 12,542.4 million
in 2020.
Globally, rising R&D expenditures and rising number of research activities has increased the
demand for bioinformatics in the market. As a result, the market is expected to grow at a
CAGR of about 20.4% from 2014 - 2020.
Some of the major drivers which help in increasing demand for bioinformatics are growing
applications of bioinformatics in drug discovery and development, growing information
technology applications in bioinformatics and rising need for integrated bioinformatics
systems in proteomics and genomics. Increasing bioinformatics support in the development
of personalized medicines and clinical diagnostics also supports the growth of the
bioinformatics market. However, lack of skilled and trained professionals and lack of
interoperability among data formats are restraining the growth of the bioinformatics market.
Rising number of merger and acquisition and new product innovation are some of the latest
trends in the bioinformatics market.
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North America is the largest market for the global bioinformatics due to rising number of
R&D centers and advanced IT infrastructure. Some of the fastest growing markets for
bioinformatics in North America are the U.S. Medical biotechnology is the largest sectorbased market and is expected to grow at a CAGR of about 21.6% from 2014 to 2020.
Genomics is the largest application based market and is expected to grow at a CAGR of
22.5% from 2014 to 2020.
The bioinformatics market in Europe is expected to witness moderate growth attributed to
rising government initiatives, advanced IT infrastructure, and rising number of research
bases activities. However, Asia is the fastest growing bioinformatics market. Rising R&D
investments and improvement in IT infrastructure are some factors driving the growth of the
bioinformatics in the Asia market.
Life Technologies is one of the leading players in the bioinformatics market. Other major
players in the bioinformatics market include Affymetrix, Inc., Illumina, Inc and Agilent
Technologies, QIAGEN and Bio-Rad Laboratories.
View Full Report TOC, Figures and Tables @
https://www.persistencemarketresearch.com/market-research/bioinformatics-market/toc

According to a new market report published by Persistence Market Research “Global Market Study on Bioinformatics - Asia to Witness Fastest Growth by 2020,” the global bioinformatics market was valued at USD 4,110.6 million in 2014 and is expected to grow at a CAGR of 20.4% from 2014 to 2020, to reach an estimated value of USD 12,542.4 million in 2020.

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