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Global Bioinformatics Market - Industry Size, Market Share, Trends, Analysis And Forecast 2013 - 2019
Date:11/21/2013

ket. These companies in efforts to reduce time and cost on R&D activities involved in the development of novel drugs and new applications for existing drugs, are looking for outsourcing services for bioinformatics knowledge and management tools, platforms, and services.

Global market for bioinformatics is expected to reach $8.3 billion over the year 2014 at the CAGR of 24.8% during the forecasted period. With the increasing demands from US and Europe, among all major segments bioinformatics platforms market is expected to have the maximum share. Developing economies like US and Europe are biggest consumers of this market and this trend is supported by increasing demand for sequencing platforms with growing research in the field of life sciences using the techniques like gene expression analysis, protein expression analysis, and sequence analysis.

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Bioinformatics have gained high importance in recent years due to its ability to generate rapid clinical research and its variety of applications like molecular science and gene therapy. It makes use of information technology, algorithms, and statistics for integrating biological data. Most pharmaceutical companies are now adopting automated technologies for manufacturing effective drugs and therapies due to rising concerns towards drug safety and strict regulations governing clinical trials for drug discovery. Pharmaceutical companies are focusing on improving the manufacturing process and quality to withstand the current competitive scenario for price escalation and product differentiation.

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