Bioinformatics Services Market : Ggrowing applications of bioinformatics in various industries are expected to drive the growth

(IT-NEWSWIRE.COM, February 10, 2021 ) The global bioinformatics services market is expected to reach USD 3.53 billion by 2023 from USD 1.70 billion in 2018, at a CAGR of 15.7% during the forecast period. Factors such as increasing public-private sector funding for bioinformatics services, the shortage of skilled bioinformatics professionals leading to increased outsourcing of biofinformatics projects, and growing applications of bioinformatics in various industries are expected to drive the growth of the bioinformatics services market.

Growth in the global bioinformatics services market is mainly driven by the growing applications of bioinformatics in various industries, increasing public-private sector funding for bioinformatics services, and the shortage of skilled bioinformatics professionals leading to increased outsourcing of bioinformatics projects. The reducing cost of sequencing and growing volume of data generated during sequencing, growing focus on outsourcing for the management of large volumes of data, and the emerging markets are also expected to present growth opportunities for players in the market.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75889439

Industry Segmentation:

On the basis of type, the bioinformatics services market is divided into sequencing services, data analysis services, drug discovery services, differential gene expression analysis, database management services, and other services. The sequencing services segment is further classified into whole genome sequencing and de novo assembly, exome analysis, transcriptome analysis, metagenomic analysis, ChIP-Seq analysis, and other sequencing analysis, whereas data analysis services segment is classified into data mining, genomic analysis, proteomic analysis, and variant annotation and discovery.

The bioinformatics services market, by specialty, is segmented into medical biotechnology, animal biotechnology, plant biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology segment is expected to command the largest share of the bioinformatics services market in 2018.

The bioinformatics services market, by application, is segmented into genomics, chemoinformatics & drug design, proteomics, transcriptomics, metabolomics, and other applications. The significant growth of the segment is attributed to the rising demand for more efficient data management facilities and the increasing number of research studies for the treatment of cancer using transcriptomics.

North America dominated the market in 2017

This report covers the bioinformatics services market data across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global bioinformatics services market in 2017, followed by Europe. The large share of the North American region is mainly attributed to the presence of leading bioinformatics service providers in the region, decreasing cost of sequencing, increasing number of genomic research activities in the region, high incidence of target diseases (such as cancer and genetic diseases), and favorable funding scenario for bioinformatics-based research.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=75889439

Key Market Players :

The major players in the bioinformatics services market profiled in this report are Illumina (US), Thermo Fisher Scientific (US), Eurofins Scientific (Luxembourg), BGI (China) dominated the market. Other players in the market are NeoGenomics (US), PerkinElmer (US), CD Genomics (US), Macrogen (South Korea), QIAGEN (Germany), GENEWIZ (US), Source BioScience (UK), Microsynth (Switzerland), MedGenome (India), Fios Genomics (UK), and BaseClear (Netherlands), among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com

Technology News & Search Engine

Bioinformatics Services Market : Ggrowing applications of bioinformatics in various industries are expected to drive the growth