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Global Bioinformatics Market: by Service Type (Knowledge Management Tools, Bioinformatics Service, and Bioinformatics Platform), by Application (Metabolomics, Genomics, Proteomics, Molecular Phylogenetics, Chemoinformatic, Transcriptomics, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)
The bioinformatics market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive market analyses, capturing all the bioinformatics market aspects.
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The bioinformatics market size is USD 8.7 billion in 2020 and is expected to reach USD 17.4 billion by 2027, with a CAGR of 14.5% during the forecast period, 2021-2027. Bioinformatics combines biology and technology, which connects biological data with techniques for storing information, distributing, and analyzing to support multiple scientific research areas, including biomedicine. It applies software tools for database creation, data mining, data warehousing, and others.
Rising government initiatives and investment to support R&D for the development of a novel drug are anticipated to be the major factors driving the market over the forecast period
Major IT companies have started focuses on bioinformatics for healthcare applications. Investment is being made for advanced tests and techniques in battling diseases, including Parkinson’s and cancer. This may create a new opportunity for the development of the bioinformatics market over the forecast period
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During the review period, the lack of skilled employees and the non-availability of a platform to integrate huge data are major factors restraining the global bioinformatics market.
The outburst of the COVID-19 pandemic has considerably affected the global bioinformatics market as the industry is witnessing significant growth due to an increase in demand for bioinformatic devices in this COVID-19 pandemic where everything is operating through no-touch contacts.
The report outlines the global bioinformatics market study based on service type and application.
Based on the service type, the bioinformatics market has been segmented into –
Based on the application, the bioinformatics market has been segmented into –
The global bioinformatics market is geographically divided into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is expected to hold the largest market share in the global bioinformatics market due to the high adoption of advanced technology and the rise in demand for better bioinformatics tools, which are needed in the drug discovery and development process. Furthermore, Asia Pacific is anticipated to witness the highest CAGR growth in the global market during the review period.
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The global bioinformatics market is highly fragmented, with a large number of small players across the globe. The vital bioinformatics manufacturers operating in the global market are –
The bioinformatics market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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