Bioinformatics Market size was valued at $8.3 billion in 2020 – IndustryARC
Bioinformatics Market size was valued at $8.3 billion in 2020, growing at a CAGR of 12.4% during the forecast period 2021-2026.
HYDERABAD, TELANGANA, INDIA, September 2, 2022 /EINPresswire.com/ — Bioinformatics Market is used to develop methods and tools to better understand the biological data. It uses computer programming with different fields including computer science, biology, information engineering, statistics, and mathematics to interpret the biological samples and data. Previously, bioinformatics was used for identification of genes and single nucleotide polymorphisms (SNPs). Improvement in the field with an aim to enhance the medical graph of bioinformatics is creating opportunities in the market.
Key Takeaways:
1. A single nucleotide polymorphism, or SNP (pronounced “snip”), is a difference in the DNA sequence at a single place between individuals. DNA is made up of a chain of four nucleotide bases: A, C, G, and T.
2. The rise in bioinformatics platform application can be ascribed to an increase in demand from life science companies for structural identification and customization. This, in turn, would aid in the development of drugs and the assessment of their therapeutic effects. Furthermore, as drug research and discovery become more efficient and safe, the demand for new tools in drug development grows. As a result, the bioinformatics market is likely to grow in the future.
3. A detailed analysis of the main players functioning in the Bioinformatics Market’s Strengths, Weaknesses, and Opportunities will be provided in the report.
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Segmental Analysis:
1. Genomics can be used to identify the genetic factor responsible for diseases spreading from one generation to another. Genomics is widely used to diagnose and cure the genetic diseases that are stimulating the demand for bioinformatics market.
2. Bioinformatics is achieving significance, and the amount of data generated requires management and elucidation for later research purposes. Demand for differentially articulated genes, computational epigenetics, and meta-analysis of the gene network. Microarray data system biology requirements has also had a major impact on the growth of the bioinformatics market.
3. Bioinformatics helps to identify the medical model of people related to different groups for medical interventions. As per the study, on the risk of disease and expected response medicines are tailored using bioinformatics. Stratified medicines and precision medicines have grown, owing to the growth of new informatics approaches and diagnostics.
Competitive landscape:
The top 5 players in the Bioinformatics industry are:
1. Agilent Technologies Inc
2. Biomax Informatics AG
3. Dassault Sytemes Biovia Corp
4. Bruker Corporation
5. Qiagen
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