Sep 20, 2018   SOURCE: PR NewsWire

Bioinformatics Market, 2023 - Blockchain Technology and Cloud Computing / Integration of Machine Learning and AI in Healthcare

DUBLIN, Sept. 20, 2018 /PRNewswire/ --

The "Bioinformatics Market by Product & Service, Applications, & Sectors - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 7.73 billion in 2018, at CAGR of 14.5%

Growing demand for nucleic acid and protein sequencing and the rising applications of bioinformatics in drug discovery, clinical diagnostics, and personalized medicine are key factors supporting the growth of this market. On the other hand, a lack of well-defined standards and common formats for data integration may limit market growth to a certain extent.

In this report, the market has been classified based on product & service, applications, sectors, and region. Based on product and service, the bioinformatics market is segmented into knowledge management tools, bioinformatics platforms, and bioinformatics services. In 2018, the knowledge management tools segment is expected to account for the largest share of the market. The bioinformatics platforms segment is projected to grow at the highest rate during the forecast period. This high growth is attributed to an increase in the use of bioinformatics platforms in drug discovery and development.

On the basis of applications, the global bioinformatics market is divided into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. In 2018, the genomics segment is expected to account for the largest share of the global bioinformatics market due to the increasing applications of genomics in personalized and preventive medicine.

On the basis of sector, the global bioinformatics market is divided into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, and forensic biotechnology. In 2018, the medical biotechnology segment is expected to account for the largest share of the global bioinformatics market. The rising adoption of bioinformatics tools in pharma and clinical applications is driving market growth.

In 2018, North America is expected to account for the largest share of the bioinformatics market. The large share of North America is attributed to the continued funding from the government and private sectors for life sciences research.

One of the major factors restraining market growth is the lack of well-defined standards and common formats for data integration. Most of the research institutes have their own exclusive identifiers, indexing schemes, and data formats. As data models change frequently, the data integration process becomes difficult. This may limit the growth of the market to a certain extent

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Bioinformatics: Market Overview
4.2 Asia Pacific Bioinformatics Market, By Products and Services and Bioinformatics Platforms (2018)
4.3 Bioinformatics Market, By Application
4.4 Bioinformatics Market, By Sector
4.5 Geographical Snapshot of the Bioinformatics Market

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Nucleic Acid and Protein Sequencing Due to Reduction in Sequencing Cost and Technological Advancement
5.2.1.2 Initiatives From Government and Private Organizations
5.2.1.3 Growing Applications of Bioinformatics
5.2.1.3.1 Proteomics and Drug Discovery
5.2.1.3.2 Clinical Diagnostics and Personalized Medicine
5.2.1.4 Number of Collaborations Between Companies and Research Institutes
5.2.2 Restraints
5.2.2.1 Lack of Well-Defined Standards and Common Data Formats for Integration of Data
5.2.2.2 Lack of User-Friendly Tools at Cheaper Prices
5.2.3 Opportunities
5.2.3.1 Blockchain Technology and Cloud Computing
5.2.3.2 Integration of Machine Learning and AI in Healthcare
5.2.3.3 It Giants Investing in the Development of Bioinformatics Solutions
5.2.4 Challenges
5.2.4.1 Management of Large Volumes of Data
5.2.4.2 Lack of Interoperability and Multiplatform Capabilities
5.2.4.3 Growing Competition From In-House Development and Publicly Available Tools
5.2.4.4 Shortage of Skilled Bioinformatics Professionals

6 Bioinformatics Market, By Products and Services

6.1 Introduction
6.2 Knowledge Management Tools
6.2.1 Generalized Knowledge Management Tools
6.2.2 Specialized Knowledge Management Tools
6.3 Bioinformatics Platforms
6.3.1 Data Analysis Platforms
6.3.2 Structural & Functional Analysis Platforms
6.3.3 Other Bioinformatics Platforms
6.4 Bioinformatics Services
6.4.1 Data Analysis Services
6.4.2 Database Management Services
6.4.3 Other Bioinformatics Services

7 Bioinformatics Market, By Application

7.1 Introduction
7.2 Genomics
7.3 Chemoinformatics & Drug Design
7.4 Proteomics
7.5 Transcriptomics
7.6 Metabolomics
7.7 Other Bioinformatics Applications

8 Bioinformatics Market, By Sector

8.1 Introduction
8.2 Medical Biotechnology
8.2.1 Drug Discovery & Development
8.2.2 Clinical Diagnostics and Personalized Medicine
8.2.3 Reproductive Health
8.3 Academics
8.4 Animal Biotechnology
8.5 Agricultural Biotechnology
8.6 Environmental Biotechnology
8.7 Forensic Biotechnology
8.8 Others

9 Bioinformatics Market, By Region

9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 RoE
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Rest of Asia Pacific (RoAPAC)
9.5 Rest of the World

10 Competitive Landscape

10.1 Market Overview
10.2 Market Ranking Analysis, 2017
10.3 Competitive Situation and Trends
10.3.1 Product Launches
10.3.2 Expansions
10.3.3 Partnership, Collaboration, and Agreement
10.3.4 Acquisition
10.3.5 Other Developments

11 Company Profiles

    --  Thermo Fisher Scientific
    --  Illumina Inc
    --  Agilent Technologies
    --  QIAGEN
    --  Beijing Genomics Institute (BGI)
    --  Wuxi NextCODE
    --  Eurofins Scientific
    --  Waters Corporation
    --  Sophia Genetics
    --  Partek
    --  DNASTAR
    --  Wuxi Nextcode
    --  Biomax Informatics AG
    --  Perkinelmer, Inc.

For more information about this report visit

https://www.researchandmarkets.com/research/nbxwpk/bioinformatics?w=5

Media Contact:

Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/bioinformatics-market-2023---blockchain-technology-and-cloud-computing--integration-of-machine-learning-and-ai-in-healthcare-300716010.html

SOURCE Research and Markets