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The introduction and adoption of cloud computing and nanopore technology are expected to offer numerous opportunities in the global bioinformatics market. The nanopore technology has been projected for getting used in the study of crop science, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), proteins and small molecules with a range of applications in personalized medicine, and scientific research.
Bioinformatics is a discipline that deals with the retrieval, storage, processing, management and analysis of organic information through computational techniques. Bioinformatics plays an important role in drug innovation and improvement. The involvement of bioinformatics in storing, retrieving, analyzing and forming biological information helps in efficiently managing enormous database associated with drug innovation and development.
The global bioinformatics market can be broadly segmented on the basis of applications, products and services, sectors and geographies. On the basis of products & services the bioinformatics market can be broadly bifurcated into bioinformatics platforms, bioinformatics knowledge management tools and bioinformatics services. The bioinformatics knowledge management tools segment can be further divided into specialized tools and generalized tools. The bioinformatics platforms are further sub-divided into sequence alignment platforms, sequence analysis platforms, structural & functional analysis platforms and sequence manipulation platforms. The bioinformatics services segment is again segmented into database & management, sequencing services and data analysis.
On the basis of sector, the global bioinformatics market is fundamentally divided into forensic biotechnology, medical biotechnology, academics, environmental biotechnology, animal biotechnology and agriculture biotechnology. The medical biotechnology segment can be further classified into molecular medicine, drug development, gene therapy, clinical diagnostics and reproductive biotechnology. Based on applications, the market is categorized into molecular phylo genetics, chemo informatics & drug design genomics, proteomics, transcriptomics and metabo lomics.
Bioinformatics technologies are used in various pharmaceutical and biotechnology sectors. They are mainly used in the medical sector, which is driven by the increasing use of bioinformatics for the drug development and discovery process. Falling prices of DNA sequencing and increasing government initiatives to boost bioinformatics based life sciences research activities are the two major growth drivers of the global bioinformatics market. Some of the other drivers contributing to growth the of global bioinformatics market includes, increasing demand for bioinformatics as a consulting solution by pharmaceutical manufacturers and medical devices, in an effort to accelerate and improve manufacturing processes, with the increasing need for bioinformatics in data incorporation and warehousing.
Moreover, the use of bioinformatics helps in optimizing the research and development process by post clinical trials and thoroughly managing the large amount of data, thereby accelerating and simplifying the process of drug target acknowledgement.
North America dominated the global bioinformatics market in 2013, by holding approximately 42% of the market share. The availability of encouraging government support in terms of funding and large number of research initiatives carried out in the region are some of the factors responsible for worldwide dominance of the region. The Asia-Pacific bioinformatics market is projected to be the fastest growing regional market in the forecast period. High availability of trained labors in countries such as, China and India with low labor costs has inspired manufacturers to stick upon contract research outsourcing strategies for limiting costs, which has enormously contributed to the growth of Asia-Pacific bioinformatics market.
Some of the key competitors within the global bioinformatics market include Tripos, LP, Affymetrix, Inc, Agilent Technologies, Illumina, Inc., Helicos Biosciences Corporation, IBM Life Sciences, Thermo Fisher Scientific Inc, Rosetta Inpharmatics LLC, Celera and others.