(EMAILWIRE.COM, December 16, 2018 ) According to the new market research report “Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2023", published by MarketsandMarkets™, The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 7.73 billion in 2018, at CAGR of 14.5%. Growing demand for nucleic acid and protein sequencing, initiatives from government and private organizations, growing applications of bioinformatics, and the increasing number of collaborations between companies and research institutes are the major factors driving the growth of the market.

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The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 7.73 billion in 2018, at CAGR of 14.5%. The growing demand for nucleic acid and protein sequencing due to a reduction in sequencing costs, increasing research initiatives from government and private organizations, and the growing applications of bioinformatics are the major factors driving the growth of the market.

In this report, the bioinformatics market has been segmented by product & service, applications, sectors, and regions.

Based on applications, the global bioinformatics market is categorized into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. The metabolomics segment is expected to grow at the highest CAGR during the forecast period due to the rising usage of metabolomics in various disease-related projects.

Browse and in-depth TOC on “Bioinformatics Market”
189 - Tables

27 - Figures

195 - Pages

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North America is expected to account for the largest share of the bioinformatics market in 2018, followed by Europe. The APAC market, however, is projected to register the highest growth rate during the forecast period. Rising foreign investments and the growing penetration of cutting-edge research and clinical laboratory technologies are factors contributing to the growth of the APAC market. China is a major market in the Asia Pacific, whereas the markets in India and Japan are still in the growth phase.

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Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2023

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