BCC Research Expects the Global Bioinformatics Market to Reach $7.5 Billion by 2017

Wellesley, MA (PRWEB) May 07, 2013
The global bioinformatics market was valued at nearly $ 3.2 billion in 2012 and is forecast to grow to nearly $ 7.5 billion by 2017. It attracts considerable funding from central governments and is driven by applications across a variety of sectors, including biotechnology, pharmaceutical research and development, agriculture, food safety, chemicals, manufacturing, and more recently, clinical genomics.
Growth in the market has been driven by the industries need to adopt more cost-effective and productive methods for commercializing proprietary information. Companies are looking for suppliers that can offer total integration of data infrastructure, which includes data sharing, data security, customization, data searching, and analysis.
The United States holds the largest segment of the bioinformatics market, accounting for 52.8% of global sales, followed by Europe and the Asia-Pacific region. The majority of revenues are generated from analysis software and analytical services, which account for nearly 47.6% of revenues, although data-analysis software and analytical services comprise the strongest growing segment with a 2012-2017 compound annual growth rate (CAGR) of 20.3%.
Bioinformatics tools and services have important roles to play in all aspects of drug discovery and development, helping to design drugs, predict drug metabolism and toxicity, and model drug-gene or drug-protein interactions. The adoption of high-throughput technologies (e.g., next-generation sequencing [NGS], RNA-Seq, microarrays, nanopore sequencing) alongside data-mining software and in silico computational, mathematic modeling, and biosimulation tools are all being applied to increase speed and accuracy, as well as to reduce the time and costs associated with data analysis and interpretation. In addition, researchers are applying a more holistic systems biology approach and integrating data from other scientific disciplines, including pharmacogenomics, toxicogenomics, epigenomics, and cheminformatics, to study complex interactions within biological systems and to improve the diagnosis and treatment of diseases.
In the post-genomic era, gathering biological information is no longer a bottleneck for scientific researchers. The major hurdle remains in the efficient organization, analysis, and interpretation of the data. There are currently more than 3,000 archival and commercial databases, including large central data repositories such as GenBank (NCI), EMBl-EBI, and DDBJ. The establishment, maintenance and open access of large datasets has been important in driving this field forward, as they have allowed researchers throughout the world to find new ways to analyze and interpret information into new knowledge. The bioinformatic tools and database services segment of the market generated more than $ 1.5 billion in 2012, and is forecast to grow to $ 3.4 billion by 2017, with a 2012-2017 CAGR of 17.9%.
Raw data is meaningless without context. The ultimate goal of bioinformatics is to extract knowledge from large-scale data. There are currently hundreds of software tools available online, many of which were developed by leading academic institutions and are freely available, enabling researchers to undertake sequencing, alignment, structure, and function analysis for a range of biological data.
Commercial software platforms are available that can deal with that analysis of petabytes of NGS data such as Astrids GenoMiner, Biobase BDs Genome Trax, GeneCodes Corp.s SeQuencher, and SoftGenetics NextGENe. More comprehensive software solutions are available from some of the larger players that enable analysis, visualization, and formulation of diverse datasets to improve dissemination of results to researchers. These include Accelrys, Pipeline Pilot, DNAStars Lasergene Suite, and Genomatixs Software Suite, among others. The data analysis and software market generated more than $ 1.1 billion in 2012, and it's forecast to grow to nearly $ 2.9 billion by 2017, with a 2012-2017 CAGR of 20.3%.
More data is being collected than can be physically stored; the storage gap is widening, and selecting which data to archive has become a major issue. During the last 30 years, IT infrastructure has become more integrated, and it has rapidly evolved from a PC cluster model to a cloud computing platform that allows computational capacity to be purchased as a service from a cloud computing provider. Researchers can tap into a network of virtual machines (VMs) without the need to own or maintain their own hardware. The IT hardware and infrastructure market generated nearly $ 532 million in 2012, and is forecast to grow to nearly $ 1.2 billion by 2017, with a 2012-2017 CAGR of 17.2%.
BCC Researchs goal for Bioinformatics: Technologies and Global Markets (BIO051B) was to provide a comprehensive analysis of the bioinformatics market by reviewing the recent advances in high-throughput -omic technologies and PC-enabled technologies that have driven the field forward. It examines the market trends and analysis regarding industry service providers, software solution developers, and IT and bioinformatics service providers that support the pharmaceuticals industry.
The reports main focus is on identifying the challenges and opportunities that exist in the bioinformatics market following the adoption of high-throughput technologies and the generation of big data. It s designed to identify innovative companies and institutes that are extending the boundaries of science and technology to develop innovative solutions and enable knowledge to be extracted from burgeoning data so that it may be put to use for the greater good.
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