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India Bioinformatics Industry Market Size Expected to Grow by Average Annual Growth of 14.4% in the Next 5 Years: Ken Research
Date:8/22/2013

New Delhi, India (PRWEB) August 22, 2013

Ken Research in their latest market research report titled India Bioinformatics Industry Outlook to 2018 - Surging Government Initiatives to Foster Future Prospects has showcased a healthy growth of bioinformatics sector in India at a CAGR of 12.3% over the period FY’2007-FY’2013. Bioinformatics has emerged as a budding sector in India with the advancement in high throughput full genome sequencing projects such as human genome sequencing. At present, the strong base in pharmaceutical research and information technology as well as well-educated low-cost and fluent in English human capital is driving the off-shoring of bioinformatics services to India.

Bioinformatics services are driving the revenue growth of the bioinformatics sector in India. Over the years FY’2007-FY’2013, bioinformatics services market in the country has grown at a CAGR of 14.2%. The application of bioinformatics is majorly in the area of genomics and transcriptomics. In India, bioinformatics has a fundamental role in the genome sequencing era as millions of DNA are being sequenced by the new generation sequencers. The field of pharmacogenomics is also evolving at a rapid pace in India because of advances in genomics which is enabling researchers to provide treatment that is tailored according to the patients' need.

“Several factors, including increase in government funding, opening up of several bioinformatics institutions, increase in educated manpower, cloud computing and genome analytics, will lead the future growth of th
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