The increasing generation of extensive genomic data owing to reduced sequencing costs is propelling the demand for effective data analytics tools.
The Global Bioinformatics Platforms Market Growth Is Accelerated By Genomic Data Analytics
Bioinformatics platforms are extensively utilized for data management and analysis of genomic and proteomic data. These platforms deliver advanced algorithms and statistical tools to analyze vast amounts of biological data, which aids researchers in deriving meaningful insights. The platforms integrate biological and clinical data to accelerate genomic research and expedite drug discovery processes.
The global Bioinformatics Platforms Market is estimated to be valued at US$ 13.15 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Bioinformatics platforms deploy machine learning and artificial intelligence techniques to gain deeper insights from genomic profiles. Their ability to manage massive datasets and draw correlations provides strategic advantages to academic and industrial researchers. As genomic research expands in scale and scope, these platforms are able to efficiently handle big data analytics tasks. Their roles in precision medicine have significantly grown as genomic and clinical data integration is crucial for finding biomarkers and disease targets. Advancements in analytics capabilities are expected to accelerate genomic discoveries and support clinical applications over the forecast period.
Segment Analysis
The global bioinformatics platforms market is segmented into sequence analysis platforms, sequence alignment platforms, sequence manipulation platforms and other platforms. The sequence analysis platforms segment held the largest market share in 2020, as these platforms aid in analyzing sequences of nucleotides or amino acids, which is fundamental requirement for drug discovery and various genomics applications. These platforms help in identifying similarities and differences between biological sequences, which helps researchers gain insight into molecular structure, genetic variations and evolutionary relationships.
Key Takeaways
The Global Bioinformatics Platforms Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Bioinformatics Platforms Market is estimated to be valued at US$ 13.15 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.
Regional analysis: North America dominated the global market in 2020 and is expected to maintain its dominance over the forecast period. This is attributed to presence of major players and strong infrastructure for biotechnology and life science research in the US and Canada. Moreover, rising investments by pharma and biotech companies in R&D also support market growth.
Key players related content: Key players operating in the bioinformatics platforms market are Canon Inc., Zebra Technologies Corporation, Hewlett-Packard (HP) Inc., Epson America, Inc., BIXOLON. Major players are focusing on new product launches and strategic partnerships to strengthen their business portfolio and market share. For instance, in March 2021, Agilent Technologies Inc. launched its new genetic analysis platform called Agilent Cytogenomics Module 5.1, which supports high-resolution microarrays for karyotyping and molecular analyses.
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https://www.marketwebjournal.com/bioinformatics-platforms-market-market-size-and-share-analysis/
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