Bioinformatics Market to Grow Due to Increase in R&D Activities of Drug Manufacturers, State TMR Report Says
NEW YORK, February 23, 2022 /PRNewswire/ — A study by Transparency Market Research (TMR) notes that the bioinformatics market is expected to register growth at a CAGR of 5.9% during the forecast period, between 2021 and 2028.
Many drug manufacturers around the world are undertaking research to discover highly effective treatment solutions for serious health conditions such as cancer, one of the killer diseases. For example, the companies are developing a next-generation sequencing (NGS)-based test, which helps study cancer-relevant genetic alterations in a patient’s tumor RNA and DNA in a unified workflow. These innovations are creating business opportunities in the global bioinformatics market.
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In recent years, there has been an increase in research on molecular biology, proteomics and genomics. Additionally, increasing demand for nucleic acid and protein sequencing and increasing need for drug discovery for different diseases is driving the growth of the global bioinformatics market, according to a research report by TMR.
The players operating in the global bioinformatics market are using different strategies such as mergers and acquisitions to expand their businesses. Moreover, the companies are collaborating with other market players in order to work on different researches, thus launching innovative products. These factors support the global market.
Bioinformatics market: main results
Bioinformatics technologies are gaining momentum, due to their ability to save an organization money and time, as these technologies help combine collected data into various interactive models to explain the disease pathway and to support the drug discovery process. Hence, the increasing adoption of this technology in drug discovery projects to store large and extensive treatment data results in promising business prospects for the global bioinformatics market.
· Government agencies in several nations around the world are increasing initiatives to support research aimed at developing new solutions for various health disorders. Therefore, they provide financial assistance for such research. This factor is fueling the sales prospects in the global bioinformatics market. Additionally, the market is driven by rising investment in drug development activities by private organizations.
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Bioinformatics market: growth boosters
- Growing number of drug and chemical research projects by pharmaceutical companies are estimated to generate lucrative prospects in the global bioinformatics market
- Wide Application of Bioinformatics in Molecular Medicine, Preventive Medicine, Drug Development and Gene Therapy Drives Market Sales Growth
- Rising adoption of IT in the healthcare sector is expected to create profitable prospects in the bioinformatics market
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Bioinformatics Market: Regional Analysis
- The bioinformatics market in North America and Europe is expected to grow at a significant rate during the forecast period, owing to factors such as easy access to advanced technologies, increased acceptance of latest technologies, increased investment in R&D projects by the regional organizations and the presence of a structured regulatory framework in these regions
- the Asia Pacific The bioinformatics market is expected to grow due to increase in initiatives by regulatory authorities to support biotechnology R&D in many regional countries through financial assistance, increase in literacy rate and better understanding of biotechnology. bioinformatics
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Bioinformatics Market: Key Players
Some of the key players profiled in the report are:
- ID Business Solutions, Ltd.
- Accelrys, Inc.
- CLC bio A/S
- Affymetrix, Inc.
- GenoLogics Life Sciences Software, Inc.
- Agilent Technologies, Inc.
- Illumina, Inc.
- life technology company
Segmentation of the bioinformatics market
- Sequence manipulation platforms
- Sequence alignment platforms
- Structural analysis platforms
- Sequence analysis platforms
- General knowledge management tools
- Specialized knowledge management tools
- Data analysis
- Sequencing services
- Data base management
- Other services
- Preventive medecine
- Molecular medicine
- Genetical therapy
- Drug development
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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