Global Bioinformatics Market Valued at Over $1.3 Billion in 2013 and is Expected to Grow at CAGR of 20.3% From 2014 to 2020: Hexa Research

Browse full research report with TOC on "Bioinformatics Market Analysis (By Sectors, Products & Services and Application), Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts 2014 to 2020" at :http://www.hexaresearch.com/research-report/bioinformatics-industry/

Browse full research report with TOC on "Bioinformatics Market Analysis (By Sectors, Products & Services and Application), Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts 2014 to 2020" at :http://www.hexaresearch.com/research-report/bioinformatics-industry/

Continuous up-gradation in technology like cloud computing and nanopore technology has created a huge platform for storing, retrieving, analyzing, manipulating and organizing biological information. Adoption of computer technology for managing biological information also helps in developing drug and manage huge database associated which its discovery.

On the basis of sector, market is further classified into medical biotechnology, animal biotechnology, academics, agriculture biotechnology, forensic biotechnology, environment biotechnology and others. Medical biotechnology is further divided into drug development, molecular medicines, clinical diagnostics, gene therapy and reproductive biotechnology. Forensic biotechnology is the fastest growing segment owing to increasing demand for DNA as evidence in our legal system. Medical biotechnology is contributing highest share in the entire bioinformatics sector market due to involvement of huge sunk cost.

On the basis of products and services, bioinformatics market is divided into bioinformatics knowledge management tools, bioinformatics platform and bioinformatics services. Bioinformatics tool is bifurcated into specialized knowledge management tools and generalized knowledge management tools. Bioinformatics platforms is further classified into sequence analysis platforms, sequence manipulation platforms, sequence alignment platforms, structural & functional analysis platform, whereas bioinformatics services is classified into sequencing service, data analysis, database management and other services. Among all the mentioned sub segments, database management and data analysis is the critical and expensive part owing to involvement of technology for organizing data and humans for interpretation.

Geographically, North America was the most dominant region in entire bioinformatics market, in 2014. Due to increasing adoption of latest technology, and continuous discovery & development of drugs, this market is expected to maintain its lead by 2020. Asia Pacific region is anticipated to show highest growth during the forecast period owing to the rapid increase in CRO activities, huge investment for introduction of IT in healthcare, growing medical tourism and growing academic and industry partnership. Countries like India, China and Brazil is expected to provide significant growth opportunities owing to increasing research outsourcing by pharmaceutical giants of developed nations.

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