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Genomics Segment is Offering Lucrative Opportunities for the Growth in the Bioinformatics Market
The global bioinformatics market is broadly categorized on the basis of sectors, products and services, applications, and geographies. On the basis of products & services the market is broadly segmented into bioinformatics knowledge management tools, bioinformatics platforms, and bioinformatics services. The bioinformatics knowledge management tools segment is further bifurcated into generalized tools and specialized tools. The bioinformatics platforms segment is further divided into sequence analysis platforms, sequence alignment platforms, sequence manipulation platforms, and structural & functional analysis platforms. The bioinformatics services segment is further sub segmented into sequencing services, database & management, and data analysis.
On the basis of sector, the bioinformatics market is broadly divided into medical biotechnology, academics, animal biotechnology, agriculture biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology segment is further divided into drug development, clinical diagnostics, molecular medicine, gene therapy, and reproductive biotechnology. Academics segment is the fastest growing segment of the bioinformatics market in the forecast period.
According to applications, the bioinformatics market is segmented into genomics, chemoinformatics & drug design, proteomics, transcriptomics, metabolomics and molecular phylogenetics. Genomics is expected to be the fastest growing segment in the bioinformatics market, by application in the next five years.
North America accounted for the largest market share of the bioinformatics market, followed by Europe, in 2014. However, 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.
Bioinformatics Market by Sector (Molecular Medicine, Agriculture, Forensic, Animal, Research & Gene Therapy), Segment (Sequencing Platforms, Knowledge Management & Data Analysis) & Application (Genomics, Proteomics & Metabolomics) - Global Forecast to 2020
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