North America Takes Lead in Global Bioinformatics Market, according to New Report by MarketsandMarkets Recently Uploaded at MarketPublishers.com22 Nov 2016 • by Natalie Aster
LONDON – In the current year, the total value of the world’s bioinformatics market is estimated at slightly over USD 6.2 billion. It is forecast to register a 21.1% CAGR between 2016 and 2021, and by the year 2021 will likely exceed USD 16.1 billion. Double-digit market growth is expected to be spurred by rising favourable initiatives from both private and government organizations, enhancing demand for protein and nucleic acid sequencing, expanding application of bioinformatics and also increasing number of collaborations between research institutes and companies.
In the current year, the medical biotechnology sector accounts for the biggest share of the overall bioinformatics market, majorly owing to the rising usage of bioinformatics in drug discovery and development.
Presently, North America is the leading regional market for bioinformatics due to constantly increasing demand for bioinformatics from proteomics and genomics research, rising research funding, ongoing technological advancements and also presence of a great number of market participants and research institutes. However, the highest growth rates (a 22.3% CAGR) will likely be seen in the APAC bioinformatics market through 2021. Growth in the APAC market is forecast to be propelled by enhancing research outsourcing to emerging countries amid pharma giants in order to save costs as well as by increasing application of genomics in pharmaceutical and biotechnology research.
Cutting-edge research report “Bioinformatics Market by Sector, Product & Application - Global Forecast to 2021” prepared by MarketsandMarkets offers trustworthy info on the performance of the global bioinformatics market with in-depth insights into the current scenario, historical background and future roadmap.
The report contains an insightful overview of the key market growth influencing factors, points out the major growth challenges and opportunities, covers the competitive landscape, profiles top players, touches upon the prevailing and emerging trends and also reviews the main regulative initiatives. Moreover, a comprehensive future outlook for the world’s bioinformatics market through 2021 is at hand in the report along with other important relevant info.
Other reports by the publisher are provided in the MarketsandMarkets’ catalogue.