Global Bioinformatics Market to Reach 9.1 Billion By 2018 - Transparency Market Research

The global bioinformatics market is estimated to reach market size worth USD 9.1 Billion in 2018. 

 

The recent developments in the field of genetics have brought a phenomenal rise in the production of biological and genetic data. This is evident from the fact that the GenBank repository of nucleic acids and sequences had 8,214,000 entries while the SWISS-PROT database contained 88,166 entries of protein sequences as of August 2000. On an average, the number of these entries has since doubled every 15 months, which if counted, would give a number so huge that no manual entry sheet would be able suffice for the entire data. Add to this the biological and genetic data resulting from the innumerous genetics related projects undertaken around the globe and one can begin to imagine the enormous amount of biological data that is already available and that is being increasingly developed every other day.  

 

This huge surge in data has made the use of computers indispensible for biological research. Use of computers is ideal for biological research because of the ease with which computers and related technologies can handle such complex data. Bioinformatics, the subject of our interest here, is an application of computer science that utilizes computer and computer related technologies to manage biological data. It is, in a way, the conceptualization of biology in terms of molecules (RNAs, DNAs) to understand and organize the information associated with these molecules by applying various laws of computers, applied math and statistics.   

 

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The new report on the global Bioinformatics market by Transparency Market Research estimates that this double digit market growth will be driven by factors such as rising demand for digital storage of biological data from research and development activities in fields such as biotechnology, pharmacy, agriculture and other industries related with life-science. 

 

The report adds that the rising demands for outsourcing biological data in the pharmaceutical field is also a significant driver of this the bioinformatics market.  Outsourcing the data required for development of new drugs and discovering new applications for existing drugs is allowing many pharmaceutical giants in saving huge effort and time for R&D of various projects. 

 

The report adds that the market will substantially benefit from rising demands from the US and European countries. Even currently, the US and Europe are the biggest consumers of this market as there has always been a surge of research activities in these regions. 

 

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