ALBANY, New York, November 28, 2012 -- /PRNewswire/ --
According to a new market report "Bioinformatics Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018," published by Transparency Market Research (http://www.transparencymarketresearch.com), the global bioinformatics market is estimated to reach market size worth USD 9.1 Billion in 2018. The market is forecasted to record double digit growth, with highest revenue contribution from the bioinformatics platforms segment.
Browse the full report at http://www.transparencymarketresearch.com/bioinformatics-market.html
The global bioinformatics market, estimated at USD 2.3 billion in 2012 is forecasted to reach a market size of USD 9.1 billion in 2018, at a CAGR of 25.4% from 2012 - 2018. The market growth is driven by rise in applications across various industries. The key contribution to the market demand is from fields such as agriculture biotechnology, pharmaceutical research and development, medical and clinical diagnostics, and other life-sciences related industries.
The bioinformatics platform holds the largest market share and is estimated to account for nearly 50% of the market revenue. The services market currently holds a relatively smaller market share, however is expected to increase considerably over the forecast period. The bioinformatics platform segment is the fastest growing market and is expected to contribute 54% of the total market growth during the same period.