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Bioinformatics Market Worth $7.5 Billion by 2017
Date:6/18/2013

kets.com/Market-Reports/bioinformatics-39.html">Bioinformatics Market comprise of Platforms, Knowledge Management Tools, and Services. The Bioinformatics Platforms Market is the fastest-growing segment, as they play a crucial role in quick and easy analysis and manipulation of large amounts of data obtained from NGS projects.

Applications of Bioinformatics in Life Sciences Research include Genomics, Proteomics, Chemoinformatics, Molecular Phylogenetics, Metabolomics, Transcriptomics, and others (Glycomics, Cytomics, Physiomics and Interactomics). Genomics commands the largest share of the bioinformatics application market.

The decreasing cost of DNA sequencing, increasing funding from government and private organizations, and technical advancements in bioinformatics tools and platforms are propelling the market. Dearth of a common data format for integration of data, lack of well-defined standards, and shortage of skilled bioinformatics professionals are major hurdles to growth of the market. It is expected that the market will offer growth opportunities for bioinformatics solutions manufacturers with the introduction and adoption of upcoming technologies such as nanopore sequencing and cloud computing.

North America accounted for the largest market share of the bioinformatics market, followed by Europe, in 2012. However, other regions such as Asian and Latin American countries represent emerging markets, owing to a rise in research outsourcing by pharmaceutical giants, increasing number of Contract Research Organizations (CROs), rise in public and private sector investment, and growing industry-academia partnerships.

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