Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The "Bioinformatics Market - Segmented by Technology, Application, End user, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global bioinformatics market is expected to register a CAGR of 19.8% during 2018-2023 (the forecast period).

Growth in Proteomics & Genomics

With the completion of the Human Genome Project (in 2001) and the Human Proteome Project, a vast amount of data has generated, which has given a new dimension to the profiling of proteomic and genomic analyses. The data generated, out of these projects, has driven the growth of the global bioinformatics market, due to the growing demand for tools and platforms for data management, data retrieval, sequence alignment, structure prediction, and other bioinformatics applications.

Other factors driving the market include increasing government spending and rise in R&D initiatives.

Rising Data Complexity Concerns

A large amount of genomic and proteomic data, generated through various sequencing and structure prediction methods, are highly complex. The complexity of the generated data ranges from missing values to excess unwanted information. Data dissemination has been a major challenge for the growth of the bioinformatics market.

Reimbursement hurdles for the manufacturer and high-capital investment are also restraining the market growth.

North America to Dominate the Market

Owing to factors like the growing demand for bioinformatics across genomics and proteomics research, technological advancements, increasing research funding, and the presence of a large number of market players and research institutes in the region, North America dominates the global bioinformatics market.

Developments in the Market

  • Thermo Fisher Scientific introduced Ion GeneStudio S5 Series, a line of highly versatile next generation sequencers.
  • Biomillenia collaborated with QIAGEN for the use of QIAGEN's Microbial Genomics Pro Suite, in order to generate next-generation sequence data on microbes identified using Biomillenia's proprietary microbiome-on-a-chip technology.
  • Agilent Technologies and Eurofins Genomics collaborated to expand SureVector cloning system
  • PerkinElmer had a strategic collaboration with Attivio to launch a new solution in the PerkinElmer Signals™ data discovery platform.

Key Topics Covered

1. Introduction

2. Research Methodology

3. Executive Summary

4. Key Inferences

5. Market Overview

6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Increasing Demand for Nucleic Acid And Protein Sequencing
6.1.2 Increasing Initiatives from Governments And Private Organizations
6.1.3 Accelerating Growth of Proteomics And Genomics
6.1.4 Increasing Research on Molecular Biology And Drug Discovery
6.2 Market Restraints
6.2.1 Lack of Well-defined Standards And Common Data Formats for Integration of Data
6.2.2 Data Complexity Concerns and Lack of User-Friendly Tools
6.3 Opportunities
6.4 Key Challenges

7. Market Segmentation
7.1 By Products & Services
7.1.1 Knowledge Management Tool
7.1.2 Bioinformatics Platform Sequence Analysis Platform Sequence Alignment Platform Sequence Manipulation Platform Structural and Functional Analysis Platform Other Bioinformatics Platforms
7.1.3 Bioinformatics Services Sequencing Services Database and Management Services Data Analysis Other Bioinformatics Services
7.1.4 By Application Microbial Genome Gene Engineering Drug Development Personalized Medicine Omics Others
7.1.5 By End User Pharmaceutical Animal Study Agriculture Forensic Science Others
7.1.6 Market Segmentation, By Geography North America Europe Asia-Pacific Middle East Africa South America

8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches

9. Major Players
9.1 Illumina Inc.
9.2 Life Technologies (Thermo Fischer Scientific)
9.3 Qiagen NV
9.4 Agilent Technologies
9.5 PerkinElmer
9.6 ABM
9.7 Accelrys Inc.
9.8 Geneva Bioinformatics SA
9.9 Ontoforce
9.10 Data4Cure
9.11 Life Map Sciences (Biotime)

10. Future Market Outlook

For more information about this report visit https://www.researchandmarkets.com/research/bn9t29/bioinformatics?w=12

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Related Topics: Bioinformatics