Global bioinformatics market to triple in value by 2020

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  • Published: Jan 30, 2015
  • Author: Jon Evans
  • Channels: Sample Preparation / Electrophoresis / Ion Chromatography / Detectors / Proteomics & Genomics / Laboratory Informatics / Gas Chromatography / HPLC / X-ray Spectrometry / Infrared Spectroscopy / Chemometrics & Informatics / Base Peak / Raman / Atomic / UV/Vis Spectroscopy / NMR Knowledge Base / Proteomics / MRI Spectroscopy

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The global bioinformatics market will triple in value over the next five years, growing from $4.11 billion in 2014 to $12.54 billion by the end of 2020, predicts a new report from Persistence Market Research.

This growth will be driven by range of different factors, including rising research and development expenditure, increasing development of personalized medicines and clinical diagnostics, growing IT applications in bioinformatics, the growing need for integrated bioinformatics systems in genomics and proteomics, and increasing applications of bioinformatics in drug discovery and development. However, growth will also be constrained by the lack of interoperability among different data formats and by a lack of skilled and trained bioinformatics professionals.

North America is currently the largest regional market for bioinformatics, due to its advanced IT infrastructure and a rising number of R&D centers, but the Asian market will experience the fast growth over the next five years.

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