The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 6.17 billion in 2017, at CAGR of 14.5%. The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023.
* 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.
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Some of The Major Players In Synthetic Biology Market:
1. Thermo Fisher Scientific
2. Illumina Inc
3. Agilent Technologies
4. QIAGEN
5. BGI
6. Wuxi NextCODE
7. Eurofins Scientific
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Objectives of the Study :
– To define, describe, and forecast the bioinformatics market on the basis of product & service, applications, sector, and region
– To provide detailed information about factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
– To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
– To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
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Bioinformatics Market
Research Methodology
Top-down and bottom-up approaches were used to validate the size of the global bioinformatics market and estimate the size of various other dependent submarkets. Major players in the market were identified through secondary research and their market presence was studied through primary and secondary research. Secondary research included the study of annual and financial reports of top market players, SEC Filings, press releases, investor presentations, Oxford Journals, National Human Genome Research Institute (NHGRI), EMBL-European Bioinformatics Institute (EMBL-EBI), National Center for Biotechnology Information (NCBI), Genome Canada, expert interviews, and MarketsandMarkets Analysis. Primary research included extensive interviews with key opinion leaders such as CEOs, directors, and marketing executives. Percentage splits, shares, and breakdowns of the segments were determined using secondary sources and verified through primary sources. This data was consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report.
