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3. Broadly Classified Into Platforms, Knowledge Management Tools and Services of Bioinformatics Market

Based on the use of bioinformatics in various industries, the market is segmented into agriculture, medical, environment, forensic, academics, and others (including homeland security and defense, law-enforcement groups, bioweapon creation, antibiotic resistance, and evolutionary biotechnology). The medical segment is the fastest-growing sector owing to the increasing R&D spending by pharmaceutical companies towards the development of new drugs.For instance, between 2005 and 2010, the pharmaceutical industry R&D spending witnessed a growth of ~112% in Latin America (Source: World Intellectual Property Organization Magazine, 2/2013).

In 2012, Brazil accounted for the largest share of the Latin American bioinformatics market, followed by Mexico.On the other hand, Chile and Peru are the fastest-growing markets in Latin America. This is primarily attributed to the initiatives taken by these nations with regards to skills development of researchers as well as the ongoing academic collaborations to facilitate the adoption of bioinformatics in life sciences research. For instance,in the past few years, various workshops and training programs have been organized in Chile to support the development of bioinformatics in the country. For instance, a course named "Advances in Bioinformatics Tools for the Analysis of High-throughput Omics Data" was organized by the Center for Mathematical Modeling and Center for Genome Regulation at Santiago in July 2012.Similarly, various training initiatives such as online training, on-site education, and formal training have been contributing to the growth of the market in Peru. For instance, in August 2012, a workshop on Immunological Bioinformatics was planned by the Center for Biological Sequence Analysis (Denmark) at Peru.

On the basis of products and services, the market is broadly classified into platforms, knowledge management tools, and services. The platforms considered are sequence alignment platforms, sequence manipulation platforms, sequence analysis platforms, structural and functional analysis platforms, and other platforms (physical mapping software and visualization platforms).The bioinformatics platforms segment is the fastest-growing segment due to the decreasing cost of DNA sequencing and the increasing volume of data generated during life science research and drug discovery.

The bioinformatics application market is categorized into genomics, proteomics, chemoinformatics and drug design, molecular phylogenetics, metabolomics, transcriptomics, and others (glycomics, cytomics, physiomics, and interactomics).Metabolomics is a promising market that is showcasing high growth opportunities for market players. This is mainly due to the developments in analytical instruments, such as Mass Spectroscopy (MS).

At present, there are several major strategic developments taking place in the market, which exhibits high-growth potential in the near future. Dominant market players such as CLC Bio (Denmark), Affymetrix, Inc. (U.S.), and Illumina, Inc. (U.S.) are focusing on geographical expansion in the Latin American region in order to keep pace with the industry trends. In addition, the increasing pharmaceutical innovations as well as increasing R&D spending are factors that unfold new opportunities for the application of bioinformatics in the drug discovery process in Latin America.           

Related Reports:

Latin American Bioinformatics Market by Sector (Agriculture, Molecular Medicine, Research & Animal), Segment (Sequencing Platforms, Knowledge Management Tools & Data Analysis Services) & Application (Genomics, Proteomics & Drug Design) - Forecasts to 2017
https://www.marketsandmarkets.com/Market-Reports/latin-american-bioinformatics-market-2908323.html

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