NEW YORK, Feb. 23, 2022 — A study by Transparency Market Research (TMR) notes that the global bioinformatics market is estimated to register growth at a CAGR of 5.9% during the forecast period, between 2021 and 2028.
Many drug manufacturers from across the globe are undertaking research in order to discover highly efficient treatment solutions for severe health disorders such as cancer, one of the fatal diseases. For instance, companies are developing Next-Generation Sequencing (NGS)-based assay, which helps in the study of cancer-relevant genetic alterations from RNA and DNA from a patient’s tumor in one unified workflow. Such innovations are creating business prospects in the global bioinformatics market.
In recent years, there has been an increase in research on molecular biology, proteomics, and genomics. Moreover, rise in demand for nucleic acid & protein sequencing and increase in the need of drug discovery for different diseases are favoring the growth of the global bioinformatics market, states research report by TMR.
Players operating in the global bioinformatics market are using different strategies such as mergers and acquisitions in order to expand their businesses. Moreover, companies are collaborating with other market players in order to work on different researches, thereby launching innovative products. These factors are bolstering the global market.
Bioinformatics Market: Key Findings
· Bioinformatics technologies are gaining traction, owing to their ability to save money and time of an organization, as these technologies help in combining gathered data into varied interactive models in order to explain the disease pathway and support in the drug discovery process. Hence, rising adoption of this technology in drug discovery projects to store important and extensive processing data is resulting in promising business prospects for the global bioinformatics market.
· Government bodies of several nations globally are increasing initiatives to support researches focused on the development of new solutions for various health disorders. Hence, they are providing financial help for such researches. This factor is fueling the sales prospects in the global bioinformatics market. Moreover, the market is driven by rising investments in drug development activities by private organizations.
Bioinformatics Market: Growth Boosters
Rising number of research projects by pharmaceutical companies in drugs and chemicals is estimated to generate lucrative prospects in the global bioinformatics market Wide application of bioinformatics in molecular medicine, preventive medicine, drug development, and gene therapy is driving the sales growth in the market Increase in adoption of IT in the healthcare sector is prognosticated to create profitable prospects in the bioinformatics market
Bioinformatics Market: Regional Analysis
The bioinformatics market in North America and Europe is projected to expand at a significant rate during the forecast period, owing to factors such as easy access to advanced technologies, increased acceptance of latest technologies, rise in investments in R&D projects by regional organizations, and presence of structured regulatory framework in these regions The Asia Pacific bioinformatics market is expected to expand due to rise in initiatives by regulatory authorities to support biotechnology R&D in many regional nations through financial aid, rise in literacy rate, and increase in understanding on bioinformatics
North America Europe Asia Pacific Latin America Middle East & Africa
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