Bioinformatics Software Market Benefits, Technology Advancement and Future Scope Till 2025
Bioinformatics is a branch of science that uses technology to collect vital information pertaining to the bioengineering, biology, and biotechnology domain to present a logical analysis. To perform the analysis, it uses various software tools, which are specifically designed to generate a biology analysis termed as bioinformatics software. Today, these tools are being used for creating predictive modeling and expression analysis of various genes and phenotypes. Adoption of bioinformatics software tools has significantly reduced the technical burden, introduced accuracy, and enabled efficiency in the way scientific research is conducted.
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Increase in need for integrated data across the bioengineering, biology, and biotechnology domain, is anticipated to drive the bioinformatics software market in the near future. Moreover, significant demand for proteomics and genomics is also expected to boost the market globally. Furthermore, adoption of bioinformatics software solutions for drug discovery and development across industries, and government initiatives for bioinformatics standardization are anticipated to drive the global bioinformatics software market during the forecast period. However, the need for skilled personnel for the successful operation of bioinformatics software and solutions is expected to obstruct the market growth in the coming years. Further, pharmaceutical sector saturation is also anticipated to hinder the market growth in international and domestic markets. Need for integrated bioinformatics’ solutions, , and bioinformatics system standardization is anticipated to create lucrative market for bioinformatics software solution providers.
The market is also thriving due to the emerging trend of outsourcing bioinformatics services and the outstanding technological advancements in the corresponding field. The entry of several new players who are taking up contracts to deliver bioinformatics services along with offering value added services has tremendously boosted the global market. The growth of the pharmaceutical industry and the evolution of the healthcare industry have been the turning points for the global bioinformatics software market for predictive modeling and expression analysis.
The bioinformatics software market can be segmented based on technology and service, application, deployment, end use, and region. In terms of technology and service, the market can be segregated into bioinformatics platform, and bioinformatics content management tools, among others. Based on applications, the market is cross segmented as genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. Furthermore, based on end-use, the market is sub divided into medical bioinformatics, animal bioinformatics, agriculture bioinformatics, academics, and microbial genome among others. Additionally, on the basis of deployment mode, the market is categorized as on-premise deployment and cloud deployment.
Based on region, the bioinformatics software market can be divided into Europe, North America, Middle East & Africa (MEA), Asia Pacific, and South America. Further, the macro and micro analysis of the market is provided at country level across each geographic region. Currently, North America holds a leading share in the bioinformatics software market. The region is expected to assert its dominance in the coming years due to the well-established healthcare infrastructure, higher acceptance of technological advancements, and increasing investments in the development of software tools. Furthermore, increasing awareness amongst healthcare professionals about advantages of deploying bioinformatics software is also expected to fuel the rise of the regional market in the near future. Europe trails this lead quite closely for similar reasons and is expected to remain a steady contributor to the rising revenue of the global market in the coming years.
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On the other hand, the fast-paced growth of the medical sector in Asia Pacific is also expected to offer several lucrative opportunities to the Asia Pacific bioinformatics software market. The emergence of medical tourism in developing countries such as China, India, and Japan are likely to utilize these methods in areas of gene expression, drug discovery, and determination of phenotypic information. Furthermore, increasing investments by the governments to improve the healthcare sector is also expected to fuel the Asia Pacific bioinformatics software market.
Prominent players operating in the global bioinformatics software market are SmartGene Services SARL, Accelrys, Inc., Affymetrix, Inc., Agilent Technologies Inc., Biobase GmbH, Cartagenia N.V., CLC bio A/S, DNASTAR, Inc., PerkinElmer, Inc., GenoLogics Life Sciences Software Inc., Illumina, Inc., Genedata AG, Genomatix Software GmbH, and Molecular Networks GmbH.
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