The Global Bioinformatics Market Growth Accelerated By Integration Of Big Data And IT

https://www.coherentmarketinsights.com/market-insight/bioinformatics-market-4158
Bioinformatics Market

Bioinformatics involves the collection, storage, retrieval, manipulation, and modelling of biological and genetic data to gain a better understanding of living systems. It utilizes various computational techniques such as data mining, machine learning and artificial intelligence to analyze large biological datasets and discover new biological knowledge. Bioinformatics tools and platforms allow researchers to manage, analyze and interpret complex biological and biomedical data into useful information and knowledge. They have applications in diverse domains such as drug discovery, genomics, transcriptomics, proteomics, and epigenomics.

The global bioinformatics market is estimated to be valued at US$ 22.1 Bn  in 2023 and is expected to exhibit a CAGR of 10%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The integration of big data analytics and information technology with bioinformatics is driving the market growth significantly. Bioinformatics produces massive amounts of high-dimensional and heterogeneous biological data that requires sophisticated computational techniques and infrastructure for effective analysis. The emergence of cutting-edge technologies like cloud computing, machine learning and artificial intelligence are empowering researchers and industry players to store, manage, analyze and interpret large and complex biological datasets. This is helping them gain deeper insights into biological processes and make groundbreaking discoveries related to disease pathogenesis, targeted therapies and personalized medicine. Such innovations are supporting drug discovery and development, precision and regenerative medicine and boosting the growth of the overall bioinformatics market.

Segment Analysis

The global bioinformatics market is segmented on the basis of applications into genomic applications, drug discovery and development, molecular medicine, diagnostics, agricultural biotechnology and others. The diagnostics applications segment dominates the market and is expected to witness high growth over the forecast period. Growing applications of bioinformatics in molecular diagnostics of diseases like cancer is driving the growth of this segment.

Key Takeaways

The global Bioinformatics Market Size is expected to witness high growth over the forecast period of 2023 to 2030 driven by increasing applications of bioinformatics in drug discovery, personalized medicine and molecular diagnostics. The global bioinformatics market is estimated to be valued at US$ 22.1 Bn  in 2023 and is expected to exhibit a CAGR of 10%  over the forecast period 2023 to 2030.

Regional analysis shows that North America currently dominates the global bioinformatics market however Asia Pacific is expected to witness fastest growth. The North America region currently has the largest share in the global bioinformatics market driven by the presence of key market players and growing research in the fields of omics along with precision medicine. However, Asia Pacific region is expected to witness highest growth over the forecast period owing to increasing government funding for genomic research and increasing adoption of bioinformatics tools in countries like China and India.
.

Key players operating in the market are The Apache Software Foundation , NCBI, European Molecular Biology Laboratory (EMBL), Thermo Fisher Scientific Inc., Illumina Inc, QIAGEN, Intrexon, Agilent Technologies, Genevia, Dassault Systemes.

Key players operating in the bioinformatics market are focusing on partnerships and collaborations with research organizations as well as acquisition activities to expand their product portfolio. For instance in 2022, Thermo Fisher Scientific acquired GENEWIZ, a leading provider of genomics services and software to expand its capabilities in next-generation sequencing, NGS bioinformatics and gene synthesis. Such strategic initiatives by key players are expected to boost the growth of the global bioinformatics market over the forecast period.

Explore more related article on this topic: https://www.ukwebwire.com/bioinformatics-market-growth-is-driven-by-growing-demand/

Comments

Post a Comment

Popular posts from this blog

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is...
Read more

Dairy Alternative Market Expected To Reach USD 26.01 Billion By 2023

Image
Dairy Alternative Market Market Overview: Dairy alternative products are gaining significant popularity due to their numerous advantages. These products are plant-based, making them suitable for individuals with lactose intolerance or those following a vegan diet. They offer similar nutritional benefits as traditional dairy products such as milk, cheese, and yogurt, while also addressing concerns related to animal welfare and environmental sustainability. The growing demand for dairy alternative products among health-conscious consumers is driving market growth. Market Key Trends: One key trend observed in the dairy alternative market is the increasing preference for plant-based milk substitutes. Plant-based milk alternatives such as almond milk, soy milk, and oat milk, among others, are gaining traction among consumers as a healthier and more sustainable option compared to traditional dairy milk. These plant-based milk alternatives offer various benefits such as being lactose-free, c...
Read more

Antimicrobial Additives Market Growth Accelerated By Rising Demand From End-Use Industries

Image
Antimicrobial Additives Market Antimicrobial additives are extensively used in a wide range of end-use industries such as healthcare, packaging, food and beverage, construction, and automotive. These additives help protect various materials from microorganisms such as bacteria, viruses, etc. Some key applications of antimicrobial additives include packaging of food, medical devices, fabrics, flooring, coatings, etc. The ongoing COVID-19 pandemic has further increased the importance of hygiene and sanitation, driving demand for antimicrobial materials from various sectors. The global Antimicrobial Additives Market is estimated to be valued at US$ 3.47 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key drivers of the market's growth is the rising demand for antimicrobial additives from the packaging industry. Packaging manufacturers ...
Read more