Bioinformatics Market Overview
Global bioinformatics market is expected to exhibit a CAGR of 19.8% over the forecast period from 2016 to 2022, according to a new research report from Market Research Future (MRFR). The global bioinformatics market is mainly driven by the growing demand in developing countries in enhancing their healthcare sector and making advanced healthcare modalities available to patients.
The growing demand for electronic healthcare data storage is likely to be a major driver for the global bioinformatics market. The reliance on manual and paper-based documentation of healthcare procedures has resulted in unmanageable volumes of healthcare information, which can make it difficult to locate individual patients and their medical history. Electronic healthcare records, which are but the first step of the bioinformatics market, have already become widely popular in developed countries due to the benefits they present in terms of consistent data storage over the long term and ease in acquiring specific details at any given time. The growing demand for e-prescriptions and online pharmacies is likely to further the cause of the bioinformatics market over the forecast period, as strong bioinformatics networks are needed to operate and manage e-prescriptions and the related documentation.
The growing demand for strong data storage facilities in medical research is also likely to be a major driver for the global bioinformatics market. Bioinformatics plays a key role in genetic studies, in which it helps track details regarding multiple genes and their multifarious associations with the indicators being studied in the respective trial. The growing dependence on genetic studies in cancer research is likely to be a major driver for the global bioinformatics market over the forecast period, as cancer research has received strong government backing across the world. Other medical research applications are also likely to make use of bioinformatics systems on a large scale in the coming years, leading to steady growth of the global bioinformatics market over the forecast period.
Bioinformatics Market Competitive Analysis:
Leading players in the global bioinformatics market include Agilent Technologies, Qiagen N.V., Dassault Systemes, Thermo Fisher Scientific Inc., and Illumina Inc.
Bioinformatics Market Segmentation:
The global bioinformatics market is segmented on the basis of application, service, sector, and region in the MRFR report in order to provide a comprehensive coverage of all important factors related to the market’s growth prospects over the forecast period.
The bioinformatics market has been segmented on the basis of application into genomics, chemoinformatics, drug design, transcriptomics, molecular phylogenetics, proteomics, metabolomics, DNA sequences, and others. Increasing interest in genetic studies is likely to be a major driver for the global bioinformatics market over the forecast period.
On the basis of services and technology, the global bioinformatics market is segmented into data warehousing, sequence analysis, sequence manipulation, and others.
On the basis of sector, the bioinformatics market is segmented into medical bioinformatics, animal bioinformatics, agriculture bioinformatics, and others. Medical bioinformatics is likely to dominate the global bioinformatics market over the forecast period due to the increasing government support for the use of bioinformatics modalities in clinical decision making and research.
Bioinformatics Market Regional Analysis:
The global bioinformatics market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The global bioinformatics market is dominated by the Americas and Europe in terms of region due to the presence of strong telecommunications infrastructure in these regions to support advanced bioinformatics processes. The presence of a strong wireless internet and other telecommunication features is crucial for a bioinformatics system to function productively. This has actually been one of the key factors that has held back the bioinformatics market in underdeveloped regions.
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In April 2019, researchers from UCLA announced a plan to develop a system that would allow scientists in developing countries to use cloud computing and big data analytics to accelerate the development of the bioinformatics field in their own countries. Efforts such as these are the result of the growing awareness of the disparity in terms of telecommunications infrastructure between developed and developing countries.
Asia Pacific is likely to exhibit the fastest growth over the forecast period due to the increasing efforts from governments in the region to incorporate powerful bioinformatics programs into the day-to-day functioning of their country’s healthcare sector.
Bioinformatics is increasingly being used to identify genes in DNA sequences.
This assists in developing better treatments and diagnostic tests.
Recently, due to significant reductions in costs of sequencing, many scientific research institutes and biotech companies have undertaken initiatives to perform sequencing studies at their own facilities.According to the new market research report ” Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture)”, global bioinformatics market is expected to account for USD 7,063.7 billion in 2018.
With the introduction of upcoming technologies such as nanopore sequencing (third generation sequencing technique) and cloud computing, the market is expected to offer significant opportunities for manufacturers of bioinformatics solutions.Expected Revenue Growth:[195 Pages Report] The global bioinformatics market is expected to account for USD 7,063.7 billion in 2018.
It includes collection, storage, retrieval, manipulation, and modelling of data for analysis, visualization, or prediction through algorithms and software.However, factors such as a dearth of skilled personnel to ensure proper use of bioinformatics tools and lack of integration of a wide variety of data generated through various bioinformatics platforms are hindering market growth.Browse in-depth TOC on “Bioinformatics Market”189 – Tables27 – Figures195 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39By Product and Services, bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast periodKnowledge management tools commanded the largest market share in the global bioinformatics market in 2018, while the bioinformatics platforms segment is expected to be the fastest-growing segment in the forecast period.
In addition, the use of bioinformatics platforms is increasing in the drug discovery & development process, which is contributing to market growth.By Application, the metabolomics segment is expected to grow at the highest CAGR during the forecast periodFactors such as the availability of research funding and government support are fueling market growth.
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The whole globe has experienced the adverse effect of coronavirus and every industry has faced setbacks especially the real estate industry.
The report "Covid-19 Impact On Cybersecurity Market by Technology (Network Security, Application Security, Endpoint Security, Cloud Security, Database Security, Web Security, ICS Security), Vertical, Region - Global Forecast to 2021", size is expected to grow from USD 183.2 billion in 2019 to USD 230.0 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period.
The market growth can be attributed to increasing focus on cybersecurity-driven business continuity plans to provide optimized security to customer data and operations that are being handled by the companies.
Increasing focus on cybersecurity as a critical business imperative and not just as a support function is expected to further drive the market with a higher wallet share for security policies and infrastructure.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=128702677Manufacturing vertical to see less growth during the forecast period in the cybersecurity marketAs the COVID-19 crisis continues to expand, manufacturers would likely face challenges on numerous fronts.
Manufacturing companies would be looking for immediate measures to keep their workforces safe and their businesses solvent.
As the COVID-19 pandemic intensifies, manufacturers would likely face continued downward pressure on demand, production, and revenues.
They would also face cash-flow liquidity challenges and difficulties in managing debt obligations.China is the manufacturing hub for almost all raw material requirements across the globe; the COVID-19 pandemic has affected the global economy and disrupted supply chains.
What’s trending on social channels these days?
Which news is hitting the headlines of leading publications?
Which topic has become a talk of the show in every corner of the world?
Any guesses?You are right- it’s none other than COVID 19.You may have got bored with hearing about COVID 19’s impact over different geographic nations and the economy from the last two months.
But, it seems the news around the virus and its influence is here to stay.
Well, with crossed fingers, we wish the corona outbreak halt sooner.But, in the meantime, COVID 19 has plagued the retail, marketing, and advertising industry very badly.
