Bioinformatics is described as conceptualize biology in terms of molecules and then the application of information technology to put in order and understand the data which is related to these molecules on large scale basis. Bioinformatics refers to gathering data with the help of computer, analyzing it, and integrating and storing the molecular data in addition to biological data, which is then used in applications such as drug discovery and development. The technology and services are the two most important classifications of this market. The technology segment is further classified into knowledge management tools and bioinformatics platform. The bioinformatics platform is further divided into content/knowledge management tools. This segment is anticipated to be the highest revenue generating division followed by the services division.
The global bioinformatics market is a budding field, used in different aspects of biology. Bioinformatics is the grouping of information technology, molecular biology, statistics, and algorithms to examine the data obtained from a variety of experiments. The report studies the foremost sector markets into agriculture, medical bioinformatics, animal, academics and others. The application section includes the metabolomics, proteomics, chemo-informatics, genomics, transcriptomics and molecular phylogenetic.
Some of the major factors which help in growing demand for bioinformatics are increasing applications of bioinformatics in drug discovery and development and rising bioinformatics support in the expansion of modified medicines and clinical diagnostics. There are several trends and challenges faced by bioinformatics market which are government compliance, industry turmoil, lack of multiplatform and interoperability, focused shift, difficulties faced in integrating applications, growing competition from in-house development, management of data and many others. However, recently there has been increased focus on proteomics from genomics owing to the rising interest of researchers in this field. This is mainly due to discovery of numerous targets in therapeutics and biomarkers for a number of diseases. With the rising demand from pharmaceutical companies, proteomics tools are also undergoing an increase in demand.
The bioinformatics market is categorized based on technology & services, sector, application, and geography. The global bioinformatics market is segmented by technology and services into bioinformatics platforms, and knowledge management tools, and bioinformatics services. Knowledge management tools are divided into generalized knowledge management tools and specialized knowledge management tools. Bioinformatics platform are further divided into sequence manipulation platforms, sequence analysis platforms, sequence alignment platforms, structural analysis platforms and others. Bioinformatics services are divided into database and management, data analysis, sequencing services and others.
By application, the bioinformatics market divided into proteomics, metabolomics, transcriptomics, genomics, molecular phylogenetic, chemo-informatics and others. By sector, bioinformatics market is segmented into agriculture bioinformatics, medical bioinformatics, academics, animal bioinformatics and others. Bioinformatics market is divided into Asia-Pacific, Europe, North America, Latin America, Middle East, and Africa. North America is anticipated to account for the largest share in the global bioinformatics market. The growing demand for bioinformatics in proteomics and genomics research, increasing research funding, technological advancements and existence of a large number of market players and research foundations are driving the growth of bioinformatics market in this region. Some of the major players operating in the field of bioinformatics include Illumina, Inc., Agilent Technologies, Thermo Fisher Scientific Inc., QIAGEN N. V. and many others. The merger and acquisition of several companies has given rise to conglomeration, which helps companies to improve their product offerings and obtain large market share.