Bioinformatics Market to Develop at Robust CAGR of 15.5% Till 2020

he global bioinformatics market segmentation can be broken down into services, platforms, and tools. On the basis of platforms, the bioinformatics market is segregated into sequence analysis platforms, sequence manipulation platforms, sequence alignment platforms, and structural analysis platforms. Among these segments, the sequence alignment platform contributed the largest share of over 30% in 2013. This segment had a sizeable share in the market owing to reduced time for processing data, identification of sequence similarity, motif finding, and phylogenetic analysis.On the basis of applications, the global bioinformatics market is divided into gene therapy, molecular medicine, drug development, preventive medicine, and others. The molecular medicine application segment is foremost due to major companies financing research related to pharmacoprotemics, pharmacogenomics, and metabolomics. Additionally, the heightened investments in drug development and discovery have propelled the drug development application segment, and this application is expected to increase in demand over the forecast period. 

 

The report describes in detail the bioinformatics market segmentation based on geographical regions. These regions are categorized into North America, Europe, Asia Pacific, and Rest of World (RoW). North America had the largest share of 35% in bioinformatics in 2013 due to the availability of skilled personnel, advanced technology, and high implementation of bioinformatics in the region. According to the report, the Asia Pacific bioinformatics market is foreseen to expand at a strong CAGR due to the fast expansion of the bioinformatics industry in the region and government investments. The key market players contributing to the bioinformatics industry include GenoLogics Life Sciences Software, Accelrys, Inc., Affymetrix, Inc., and Agilent Technologies Inc.