Bioinformatics Platforms Market is projected to reach USD 13,901.5 billion by 2023




Bioinformatics is the use of computer technology to manage and analyze biological data. It entails gathering, storing, retrieving, manipulating, and modeling data for analysis, visualization, or prediction using algorithms and software. In 2018, the global bioinformatics market is expected to be worth USD 7,063.7 billion. It is projected to reach USD 13,901.5 billion by 2023, growing at a CAGR of 14.5 percent over the forecast period.

The growing demand for nucleic acid and protein sequencing increased government initiatives and funding, and increased use of bioinformatics in drug discovery and biomarker development processes are driving the growth of the bioinformatics market.

The Bioinformatics Platforms Market is expected to offer significant opportunities for manufacturers of bioinformatics solutions with the introduction of upcoming technologies such as nanopore sequencing (third-generation sequencing technique) and cloud computing. However, factors such as a shortage of skilled personnel to ensure proper use of bioinformatics tools and a lack of integration of a diverse range of data generated by various bioinformatics platforms are impeding the market growth.

Increasing demand for advanced technologies to understand aspects of molecular biology, as well as an increase in the number of advanced systems, are expected to drive the bioinformatics platforms market during the forecast period. However, the lack of required infrastructure and higher installation and maintenance costs of bioinformatics are expected to stymie market growth.

The "Bioinformatics Platforms Market Analysis to 2028" report is a specialized and in-depth examination of the pharmaceutical industry, with a particular emphasis on global market trend analysis. The purpose of this report is to provide an overview of the Bioinformatics Platforms Market, as well as detailed market segmentation by platform type, application, end-user, and geography. During the forecast period, the Bioinformatics Platforms Market is expected to grow rapidly. The report offers key statistics on the market status of the leading Bioinformatics Platforms Market players, as well as key market trends and opportunities.

The global Bioinformatics Platforms Market is divided into three sections: platform type, application, and end-user.

platform type:

  • sequence analysis platform
  • sequence alignment platform
  • structural & functional analysis platforms.

Application:

  • drug development
  • molecular genomics
  • gene therapy
  •  personalized medicines
  •  others

End-User:

  • academic & research institutes
  • contract research organizations
  • biotechnology organizations.

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