Bioinformatics Market Overview:
Bioinformatics Market was valued at $3.4 billion, and is expected to reach $12.8 billion by 2020, supported by a CAGR of 21.2%. Bioinformatics is defined as conceptualize biology in terms of molecules and then the application of information technology to organize and understand the data which is associated with these molecules on large scale bases. Bioinformatics utilizes computer to collect data, analyze, integrate and store the molecular ad biological data, which is then utilized in application such as drug development and discovery. The technology and services are the two important segments of this market. The technology is of two types knowledge management tools and bioinformatics platform. The Bioinformatics Content/Knowledge Management Tools is estimated to the highest revenue generating segment followed by the services segment.
The global bioinformatics market is an emerging field, used in various fields of biology. Bioinformatics is the combination of information technology, statistics, molecular biology and algorithms to analyze the data obtained from various experiments.
The bioinformatics market analyzed in this report includes sectors, technology & services, applications as major segments. The services and technology segment is further classified in to knowledge management tools, platforms, and services. The report analyzes the major sector markets into medical bioinformatics, agriculture, animal, academics and others. The application segment includes the proteomics, genomics, metabolomics, transcriptomics, molecular phylogenetics and chemoinformatics. This report excludes in depth analysis of next generation sequencing and cloud based services of the bioinformatics service providers.
The scope of the bioinformatics market report is to study the need of integration of data in the field of bioinformatics and the role played by the bioinformatics tools in the discovery and development of drugs and the adoption level of the bioinformatics tools in the developed and developing regions.
The study of bioinformatics is the combination of information and biology. The study broadly involves the methods of usage, computational tools, manipulation & analysis volumes and biological data volumes. Bioinformatics is part of computational biology. Computational biology is concerned with the quantitative analytical techniques applications in solving problems and modeling of the biological systems. Bioinformatics, which is an interdisciplinary approach, requires the advanced knowledge in computer science, statistical methods and mathematics for the better understanding of the biological phenomenon. The field covers many advanced and specialized areas of life science they are as follows:
- Structural Genomics
- Functional genomics
- DNA microarrays
- Comparative genomics
- Medical information
Trends and Challenges faced by the Industry
Government compliance ‐ there is constant usage of new technologies in the R & D activity of drug development and discovery process. Thus, the technologies are enhancing the R& D activities. However, the regulatory bodies require authenticity of the data, thus hampering this advancement. Currently, various suppliers are adding various features that help the clients in achieving the required standards, which is required by the regulatory bodies to ensure data security.
Industry turmoil ‐ the consolidation of the bioinformatics sector will benefit the key players of the market. With the merger and acquisition of the companies, has resulted in conglomeration, which improves various product offerings and acquire large market share.
Focus shift - there has been a shift of focus from genomics to proteomics; this is due to the increasing interest in the field of proteomics. The interest is due to the identification of various targets in therapeutics and discovery of biomarkers for various diseases. With The demand from the pharmaceutical companies, proteomics tools are experiencing an increase in demand.
Lack of multiplatform and interoperability - There is a demand for flexible and easy to use products from the end users. However, there is lack interoperability in many products currently commercialized. Thus, hampering sales as the end users prefer tools with multi-platform compatibility.
Lack of standard formats ‐ the end users require data access from different sources, which are generated from various other experimental methods present in various different formats. However, there is always a requirement of manual intervention, which contributes to various errors, thus creating a bottleneck.
Difficulties faced in integrating the applications ‐ there is always a need for analysis of different problems such as in evaluating gene expression. There is always a need for manual intervention that slows down the process of analysis.
Management of data ‐ due to the large amount of the data generated, with the various technologies available, there is now a need for analysis, annotation, retrieval and storage. Slow data management creates inefficiency and burdens the systems data managers and administrators.
Growing competition from in-house development -
Many pharma companies are minimizing drug discovery budgets, as they are shifting their focus from outsourcing of the software to developing in-house tools. Thus, allowing them to customize their required applications to meet their needs and increasing the workflow efficiency.
- The report provides detailed examination about the driving and limiting factors of the bioinformatics market, which would give a deeper understanding of the subject and help in analyzing the various applications of bioinformatics
- The application segment helps in analyzing the various application segments, thus helping the stakeholders understand opportunities in the various fields of bioinformatics market
- To understand the bioinformatics market segmentation and its share and to gain a deeper understanding of trends adopted
- The report analyzes the industry conditions and computational biomodeling in a comprehensive and quantitative manner and forecast industry trends and techniques used in bioinformatics
- The computational biology industry forecast are discussed in terms of revenue throughout 2013 to 2020.
The global Bioinformatics market is segmented based on technology & services, application, sector and geography.
BY TECHNOLOGY AND SERVICES
- Knowledge Management Tools
- Generalized knowledge management tools
- Specialized knowledge management tools
- Bioinformatics Platforms
- Sequence analysis platforms
- Sequence alignment platforms
- Sequence manipulation platforms
- Structural analysis platforms
- Bioinformatics Services
- Sequencing services
- Database and management
- Data Analysis
- Molecular Phylogenetics
- Medical Bioinformatics
- Animal Bioinformatics
- Agriculture Bioinformatics
- North America
- Asia Pacific