According to the new market research report " Bioinformatics Market by Product & Service (Knowledge Management Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2023", published by MarketsandMarkets™, The global bioinformatics market is projected to reach USD 13.50 billion in 2023 from USD 6.17 billion in 2017, at CAGR of 14.5%. The base year considered for the study is 2017, and the forecast for the market size is provided for the period between 2018 and 2023.

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Growing demand for nucleic acid and protein sequencing, initiatives from government and private organizations, growing applications of bioinformatics, and the increasing number of collaborations between companies and research institutes are the major factors driving the growth of the market.
Based on product and service, the bioinformatics platforms segment is projected to grow at the highest CAGR in the market during the forecast period.

On the basis of product & service, the market is broadly segmented into knowledge management tools, bioinformatics platforms, and services. The bioinformatics platform segment is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increasing usage of different bioinformatics platforms in various genomic and proteomics applications. Additionally, there is an increase in the use of bioinformatics platforms in drug discovery and development, which also contributes to the growth of the market.

Browse and in-depth TOC on "Bioinformatics Market"
189 - Tables
27 - Figures
195 - Pages

Key players that provide bioinformatics products and services are Thermo Fisher Scientific (US), Illumina Inc (US), Agilent Technologies (US), QIAGEN (Netherlands), BGI (China), Wuxi NextCODE (China), Eurofins Scientific (Luxembourg), Waters Corporation (US), Sophia Genetics (Switzerland), Partek (US) and DNASTAR (US). These players focus on both organic and inorganic growth strategies
such as product launches, partnerships, and agreements to maintain and enhance their market share in the market.

Target Audience:
• Government and academic institutes
• Bioinformatics product providers
• Bioinformatics service providers
• R&D departments and contract research organizations
• Pharmaceutical & biopharmaceutical, diagnostic companies
• Consulting firms

Based on applications, the genomics segment is estimated to account for the largest share of the market.
On the basis of applications, the global bioinformatics market is divided into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. The genomics segment is expected to account for the largest share of the bioinformatics market. The rising application of genomics in personalized and preventive medicine is positively affecting market growth.

Browse 189 market data Tables and 27 Figures spread through 195 Pages and in-depth TOC on "Bioinformatics Market by Product & Service (Knowledge Mangement Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2027"

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