Bioinformatics Market by Sector (Molecular Medicine, Agriculture, Forensic, Animal, Research & Gene Therapy), Product (Sequencing Platforms, Knowledge Management & Data Analysis) & Application (Genomics, Proteomics & Metabolomics) – Global Forecast to 2021

The global  bioinformatics market  is projected to reach $ 16.18 Billion by 2021 from USD 6.21 Billion in 2016, growing at a CAGR of 21.1% during the forecast period.

Growth of the bioinformatics market is driven by the growing demand for nucleic acid and protein sequencing, increasing initiative from government and private organizations, growing application of bioinformatics, and improved collaborative ties between companies and research institutes. Nanopore sequencing and cloud computing. It is expected that the market will offer opportunities for manufacturers of bioinformatics solutions with the introduction and adoption of upcoming technologies. However, the factors of bioinformatics platforms are retraining the growth of the market.

The  bioinformatics market  is segmented on the basis of sector, products and services, application, and region. Homeland security and defense, law enforcement groups, bioweapon creation, and evolutionary biotechnology). Based on products and services, the bioinformatics market is divided into knowledge management tools, bioinformatics platforms, and bioinformatics services.

Based on application, the bioinformatics market is segmented into genomics, chemoinformatics and drug design, proteomics, transcriptomics, metabolomics, molecular phylogenetics, and other applications (glycomics, cytomics, physiomics, and interactomics). The genomics segment is expected to account for the largest market share in 2016. The large share of this segment can be attributed to the increasing use of pharmacogenomics.

The increasing demand for bioinformatics across genomics and proteomics research, technological advancements, increasing research funding, and the presence of a large number of market players and research institutes are driving the Growth of the bioinformatics market in this region. However, the Asia-Pacific region is estimated to witness the highest growth during the forecast period.

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Factors as well as the common format for the integration of data and user-friendly tools are restraining the growth of the bioinformatics market. Major players operating in the bioinformatics market include Illumina Inc. (US), Agilent Technologies (US), Thermo Fisher Scientific Inc. (US), and QIAGEN NV (Netherlands).

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