Wednesday, April 6, 2011
Global Market for Bioinformatics to touch $2.4 billion in 2011
"According to the new market research report from Industry Experts ‘Bioinformatics – A Global Market Overview’, global market for bioinformatics is estimated at about $2.4 billion in 2011 and further projected to reach $7.6 billion by 2017 registering a CAGR of 18.3% during the period 2007-2017.
At the beginning of the “genomic revolution”, Bioinformatics was applied in creating and maintaining a database that stored biological information, such as nucleotide and amino acid sequences. Development of this type of database involved not only design issues but also the development of complex interfaces, whereby researchers could access existing data, in addition to submitting new or revised data.
Market for Bioinformatics product categories analyzed in this study includes Bioinformatics Content, Bioinformatics Analysis Software & Services and Bioinformatics IT Infrastructure & Other Services. The report also includes the market analysis for end-use application analysis of Bioinformatics – Biopharma & Diagnostics, Genomics, Agriculture, Chemicals and Environmental & Other."