The Global Bioinformatics Market expected to grow at the rate of about 19.8% till 2022 and this has started since 2016.
Bioinformatics is the use of information technology in the field of biotechnology for the purpose of data storage, data warehousing, and analysing the DNA sequences. The market is going to grow at a sound pace during the forecast period. The major drivers will be the growing biotechnology sector, increasing global burden of the diseases, and increasing research and development expenses. According to the International Trade Administration, the total turnover for the biotechnology sector in the Germany reached from USD 3,280 million in 2015 to USD 3,410 million in 2016. Moreover, it was estimated that in 2016, the R&D expenditure for biotech sector was about USD 1,040 million.
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Moreover, increasing initiatives from government and private organizations followed by improved collaborative ties between companies and research institutes fuels the market growth. However, lack of well-defined standards and common data formats for integration of data, shortage of skilled bioinformatics professionals along with the lack of adequate user-friendly tools may restrain the market growth during the forecast period.
Global Bioinformatics Market – Competitive Analysis
Agilent Technologies, Illumina, Inc., QIAGEN, and Thermo Fisher Scientific Inc., and Dassault Systèmes are some of the prominent players at the forefront of competition in the global bioinformatics market and are profiled in MRFR Analysis.
Characterized by the presence of several well-established and small players, the global bioinformatics market appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economies, makes it difficult for regional vendors to compete with them, especially in terms of features such as product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
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Thermo Fisher Scientific Inc. is one of the prominent players in the global bioinformatics market. It is headquartered in the U.S. and is one of the leaders in healthcare. The company is specialized in various biotechnology products such as Analytical Instruments, Laboratory Supply Chain Programs, Laboratory Equipment, Lab Services, Specialty Diagnostics and others. The company’s net sales in 2015, was estimated to be about USD 16, 965.40 million in 2015 and reached USD 18,274.10 million in 2016.
Brief TOC
- Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Bioinformatics Market, By Application
- Global Bioinformatics Market, By Services And Technology
- Global Bioinformatics Market, By Sector
- Global Bioinformatics Market, By Region
- Competitive Landscape
- Company Profile
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