DALLAS, August 18, 2010 /PRNewswire/ -- According to the new market research report "Bioinformatics Market - Advanced Technologies, Global Forecast and Winning Imperatives (2009-2014)", published by MarketsandMarkets (http://www.marketsandmarkets.com), the global bioinformatics market is expected to reach a $8.3 billion by 2014 at a high CAGR of 24.8% from 2009-2014. While knowledge management formed the largest submarket is 2009 at $1.3 billion, the bioinformatics platforms market is expected to have greatest market share in 2014 at an estimated $3.9 billion due to rising demand from U.S. and Europe.
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Bioinformatics has gained high importance due to its ability to facilitate rapid clinical research, and also due to its various applications such as gene therapy and molecular science. Bioinformatics uses information technology, statistics, and algorithms to integrate biological data. Pharmaceutical companies are now adopting automated technologies to manufacture effective therapies and drugs due to increasing concerns about drug safety and the stringent regulations that govern clinical trials for drug discovery. Pharmaceutical companies have increased their focus on process improvement and quality, as the current competitive scenario offers little scope for price escalation and product differentiation.
The market for bioinformatics platforms is growing at a significant pace with the increasing demand from U.S. and Europe. This trend is supported by the increasing demand for sequencing platforms with increasing life science research using techniques such as gene expression analysis, sequence analysis, and protein expression analysis.
The global bioinformatics market is expected to reach $8.3 billion by 2014 at a high CAGR of 24.8% from 2009-2014. While knowledge management formed the largest submarket is 2009 at $1.3 billion, the bioinformatics platforms market is expected to have greatest market share in 2014 at an estimated $3.9 billion, due to rising demand from the U.S. and Europe.
Markets covered
This research report categorizes the global bioinformatics market into the following segments:
- Bioinformatics platforms
- Sequence alignment platforms
- Sequence manipulation platforms,
- Sequence analysis platforms
- Structural analysis platforms
- Content/Knowledge management tools
- Specialized knowledge management tools
- Generalized knowledge management tools
- Services
- Data Analysis
- Sequencing Services
- Database & Management services
- Applications
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