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Global Bioinformatics Market to Reach US$5.0 Billion by 2015

Bioinformatics, one of the most vibrant industries in the current scenario, is at the forefront of the biotech revolution. The market is projected to transform into a major industry within the next few years. Driving the revolution is genomics, a set of advanced tools designed for large data acquisition and analysis. New tools are not only pushing the development of drug discovery, but also fundamentally changing the nature of biological research. The success of Human Genome Project and breakthrough technologies in drug discovery initiatives spells significant investment opportunities for the industry. As new players enter the market, and existing companies grow in size and revenue, competition in the bioinformatics industry is likely to intensify significantly.
Globally, pharmaceutical companies are increasingly seeking help from biotechnology to alleviate concerns related to increasing number of blockbuster drugs going off-patent, narrow product pipelines, and high drug development costs. Bioinformatics can be applied in every stage of the R&D processes in biotechnology as well as the pharmaceutical sectors. The emergence of genomics and its ever-growing application in the research and development processes have created soaring amount of data, creating significant opportunities for bioinformatics. Data management tools based on bioinformatics have helped companies in easing the task of R&D analysis, thereby enhancing their productivity by way of identifying new biomarkers for toxicity and drug efficacy, diagnostic biomarkers as well as new drug targets. Bioinformatics help utilization of the gene and protein data and construct interactive models that aid in identifying disease pathways and effects of compounds.
Going forwards, the penetration of genomics in drug discovery is expected to increase further, which bodes tremendous market prospects for bioinformatics. In addition, more and more spending is expected to be made in research and development from pharmaceutical companies, of which a major chunk is expected to end up in the area of bioinformatics. Bioinformatics is a multifaceted market, characterized by a host of licensing and research and development collaborations. Worldwide bioinformatics market is primarily concentrated in the United States and Europe. The industry represents one of the fastest growing fields offering economic opportunities in various areas.
The US represents the largest regional market for bioinformatics worldwide, followed by Europe, as stated by the new market research report on Bioinformatics. However, Asia-Pacific is projected to record the fastest growth over the analysis period. Japanese market is projected to post a CAGR of 13.5% during the analysis period. Segment wise, Biocontent represents the largest product segment in the global bioinformatics market. Bioinformatics Software represents the fastest growing product segment. Demand for Bioinformatics hardware is projected to rise by 9.5% during the analysis period.