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

Global Fiber Reinforced Concrete Market Opportunity Analysis and Industry Forecast 2028

Image
  Fiber Reinforced Concrete Market A rise in commercial construction activity is anticipated to fuel the market as a result of the economy's improved state. The need for more office and storage space has been driven by the expansion of industries like food and consumer goods, which has had a large positive impact on the construction sector and the demand for paving slabs as long-lasting and attractive flooring. With the majority of the actors involved in the production and manufacture of the raw materials used in the production of paving slabs, product makers have a highly integrated supply chain. The majority of market participants also benefit from a robust direct distribution network that facilitates a seamless flow of products and enables them to build a broader customer base. Having a wide range of customizable products is important while making purchases. The global Fiber Reinforced Concrete Market was valued at US$ 2,330.40 Mn in 2020 and is forecast to reach a value of US$
Read more

Augmented Reality Is Fastest Growing Segment Fueling The Growth Of Air Defense Systems Market

Image
Air Defense Systems Market Market Overview: Air defense systems provides protection against cruise, tactical and strategic ballistic missiles, unmanned aerial vehicles, and aircraft. They consist of radar systems, interceptor missiles, command and control systems and fire control systems. Air defense systems help detect incoming enemy planes, and intercept missiles and other threats before they reach their targets using air-to-air, surface-to-air, and man-portable missiles. Market key trends: One of the major trends in the air defense systems market is the increasing adoption of augmented reality and artificial intelligence. Augmented reality offers 3D digital interfaces to air defense operators and commanders and overlays geographical data and combat intelligence information onto real-world combat scenarios. This enhances situation awareness, minimizes fatigue and improves decision-making. It is increasingly being incorporated into command and control systems, fire control radars and
Read more

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