Major players in the bioinformatics market are Agilent Technologies, Illumina, QIAGEN, Affymetrix and Thermo Fisher Scientific. The global bioinformatics market is expected to grow from $9.
New York, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioinformatics Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151563/?utm_source=GNW
38 billion in 2020 to $10.57 billion in 2021 at a compound annual growth rate (CAGR) of 12.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.46 billion in 2025 at a CAGR of 15%.
The bioinformatics market consists of sales of bioinformatics and related services. Bioinformatics combines computer programming, information engineering, mathematics, and statistics to analyze biological data for drug discovery and for preclinical studies.
The bioinformatics market covered in this report is segmented by products and serivces into knowledge management tools, data analysis platforms, services. It is also segmented by application into metabolomics, molecular phylogenetics, transcriptomics, proteomics, chemoinformatics, genomics, others and by end users into pharmaceutics, animal study, agriculture, forensic science, other end users.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Lack of interoperability among various available data formats is acting as a restraint on the bioinformatics market.Various data formats come with differences in structures of data.
There are numerous protein databases available through various resources, and each database chooses to represent proteins in a different format.Also, different data models such as object data model or relational data model are used while collecting data.
Therefore, the problem of interoperability arises when a researcher tries to integrate the results of unique databases present in different data formats.Various data formats available for bioinformatics include Compressed Row Storage (CRS), Sparse Vector, Avro, Parquet and ORC (Optimized Row Compressed).
According to a report by Pharmaphorum, an estimated 80% of the researchers’ time is spent on data grooming and only 20% on actual data analysis. This is essentially due to the lack of standardized file types and inconsistent data formatting, which means that every new program results in a new data format. The interoperability issues arising from the use of multiple data formats is affecting market growth.
The bioinformatics market is governed by various regulatory bodies for quality and compliance of bioinformatics platforms.For instance, in India, the Biotechnology Industry Research Assistance Council (BIRAC), set up by Department of Biotechnology (DBT), Government of India, regulates the bioinformatics market.
BIRAC introduces Technology Readiness Levels (TRLs) as a measure of estimating the maturity of technology while in the evaluation phases until these technologies are complete to be offered commercially.The TRL scale provides 9 technology readiness levels with TRL1 being the stage when the technology is ideated, and TRL9 being the stage when the technology is ready for commercial use.
The manufacturers have to get past TRL9 to have their product available commercially and ready to be marketed.These TRL’s consist of various levels of compliance and processes that the manufacturers must adhere to.
The bioinformatics platform is evaluated for quality, feasibility, data privacy and protection as per international standards.
In September 2020, APIS Assay Technologies Ltd, a UK based Biotechnology company acquired BeoGenomics for an undisclosed amount.With the addition of Beogenomics’ proven expertise in bioinformatics APIS Assay Technologies Ltd can more effectively capture the exciting opportunities presented in the bioinformatics space.
BeoGenomics, a USA based bioinformatics company that focuses on NGS, SNP chip and GeneChip genomic data processing and analysis.
Increasing demand for protein sequencing is driving growth in the bioinformatics market.Protein sequencing refers to the process of determining the sequence of amino acids in all or part of the proteins present in DNA, based on which specific functions, activities, origin or localization of the protein is determined.
Protein sequencing helps analysts to understand the distribution of amino acids along the sequences and the structure of proteins.With bioinformatics methods and databases, capacity, structure and developmental history of proteins can be effectively identified.
The demand for protein sequencing is expected to grow on account of factors such as advancements in clinical mass spectrometry and analytical techniques, and significant adoption of target-based drug development by pharmaceutical and biotechnology companies. For instance, the total number of protein sequences in UniProtKB, which is a freely accessible database of protein sequence and functional information, increased by over 325%.
Companies in the bioinformatics market are increasingly investing in the research and development of nanopore sequncing technology.Nanopore sequencing is a single molecule DNA sequencing technology which eliminates the need for Polymerase Chain Reaction or chemical labelling of the sample.
This technology passes ionic current through nanopores (a pore of nanometer size) and when the biological molecules pass through the nanopores or near to it then this technology measures the changes in current which can be used to identify the molecule.Nanopore sequencing technology offers high throughput, low cost, longer reads (Sequence of a section of a unique fragment) to the analyst and helps in the collection of data which is an essential part of bioinformatics.
For instance, Oxford Nanopore Technologies raised $140 million for commercial expansion and support for further research and development in the area of nanopore technology. Also, biotechnology company Amgen invested $66 million in the company.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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