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Bioinformatics Market Worth $13.50 Billion in 2023PUNE, India, September 11, 2018 /PRNewswire/ -- According to a 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 market is projected to reach USD 13.50 billion in 2023 from USD 7.73 billion in 2018, at CAGR of 14.5%. (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg ) For more Insights on this report, Speak to Our Analyst: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=39 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. Browse in-depth TOC on "Bioinformatics Market" 189 - Tables 27 - Figures 195 - Pages https://www.marketsandmarkets.com/Market-Reports/bioinformatics-39.html 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 bioinformatis platforms in drug discovery and development, which also contributes to the growth of the market. Based on applications, the genomics segment is estimated to account for the largest share of the market in 2018 On the basis of applications, the global Bioinformatics Market is divided into genomics, chemoinformatics and drug design, proteomics, transcriptomics, and metabolomics. In 2018, 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. Based on sector, the medical biotechnology segment is estimated to account for the largest share of the market in 2018 On the basis of sector, the global Bioinformatics Market is divided into medical biotechnology, academics, animal biotechnology, agricultural biotechnology, environmental biotechnology, and forensic biotechnology. The medical biotechnology is again subdivided into drug discovery & development, clinical diagnostics & precision medicine, reproductive health. In 2018, the medical biotechnology segment is estimated to account for the largest share of the Bioinformatics Market. The rising adoption of bioinformatics tools in pharmaceutical and clinical applications is driving market growth. North America is expected to dominate the market in 2018 Among the four geographic regions, North America is expected to account for the largest share of the Bioinformatics Market in 2018, followed by Europe, APAC, and the RoW. The large share of North America is attributed to the steady funding from the government and private sector for life sciences research and bioinformatics. Market Players The Bioinformatics Market is highly competitive due to the presence of a large number of players. Few of the major companies in Bioinformatics Market 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). Request for PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=39 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Research Insight: https://www.marketsandmarkets.com/ResearchInsight/bioinformatics-market.asp 
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