Press release
"Bioinformatics Market Projected to Surge to $27.98 Billion by 2030"
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The growth of the bioinformatics market can be attributed to various factors such as the expansion of the biotech and pharmaceutical industries, initiatives supporting genomics research, and the increasing demand for novel drugs and drug molecules. However, challenges like interoperability limitations in analytical platforms due to diverse data types remain a concern for market growth.
The report also highlights untapped markets in emerging economies, the growing clinical applications of genomic technologies, and the increasing adoption of bioinformatics in agriculture as potential growth opportunities. Despite these opportunities, issues related to data privacy, confidentiality concerns, and the shortage of skilled bioinformaticians are key challenges faced by market stakeholders.
Key Players and Market Segmentation:
Key players in the bioinformatics market include Illumina, Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Qiagen N.V., Agilent Technologies, Inc., Dassault Systèmes SE, and others.
TOP 10 COMPANIES IN BIOINFORMATICS MARKET >> https://meticulousblog.org/top-10-companies-in-bioinformatics-market/
The bioinformatics market is segmented based on solutions & services, application, and industry. The solutions & services segment includes knowledge management software, bioinformatics platforms, and services such as data storage & database management services and data analysis services. Genomics, chemoinformatics, proteomics, transcriptomics, metabolomics, and other applications constitute the application segment. Industries served include healthcare, agriculture, veterinary, and others.
Geographic Analysis:
Geographically, North America is expected to dominate the bioinformatics market in 2023, followed by Europe and Asia-Pacific. Factors contributing to North America's leadership position include favorable government initiatives, growing applications of genomic research, declining sequencing costs, increased research investments by pharmaceutical companies, and the adoption of precision medicine in cancer treatment.
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