September 14, 2010 08:08 ET
Bioinformatics Market to Grow 26% Annually Through 2013
ROCKVILLE, MD--(Marketwire - September 14, 2010) - MarketResearch.com has announced the addition of RNCOS's new report "Global Bioinformatics Market Outlook" to their collection of Biotechnology market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2795729
Although the effects of recession loomed large on different industries over the past year, the development and implementation of computational tools and frameworks for the management, analysis and interpretation of biological information remained the focal point of leading industrial players. Initial efforts in bioinformatics were focused on the analysis of DNA sequence data. Presently, the scope and objectives of bioinformatics research and development have broadened owing to the high generation of data from various sources and for different cellular processes, continuously evolving analytical technologies and the increasing computational capability.
As per "Global Bioinformatics Market Outlook," the market for bioinformatics will surge at a CAGR of nearly 26% during 2011-2013 to a value of around US$6.2 Billion. Bioinformatics offers an indispensable technology for function assignment and it is widely used for gene annotation. With the increasing R&D investment by companies on bioinformatics and the regulatory support in various countries, we anticipate that the bioinformatics market will post high growth rate in majority of the countries.
At the country level, the study has found that the sales of bioinformatics in South Korea will grow at a CAGR of over 16% to US$270 Million by 2013. Other countries like India and the UK will also witness high growth rates in bioinformatics markets at a CAGR of approximately 9.5% and 16% respectively. Japan has demonstrated its capabilities as a global player in bioinformatics databases. Besides, the analysis software and services market for bioinformatics has registered a CAGR of more than 21% between 2007 and 2010.
RNCOS found that the technology has its uses in a variety of areas, including Genomics, Proteomics, Pharmacogenomics and Cheminformatics. The report provides the market size of these application areas for the past few years. Other research areas of bioinformatics like oncology are also highlighted in the report.
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2795729