Bioinformatics is fast emerging from mere software technology that is used to interpret genetic information to assume a more comprehensive role that involves integration of information technology with biological sciences. By the year 2010, world bioinformatics market is projected to cross US$3 billion.
San Jose, California (PRWEB) July 24, 2007 -- Bioinformatics is fast emerging from mere software technology that is used to interpret genetic information to assume a more comprehensive role that involves integration of information technology with biological sciences. By the year 2010, world bioinformatics market is projected to cross US$3 billion.
Bioinformatics is a key discipline operating on the forefront of the biotech revolution. Despite dynamic potential, Bioinformatics remains a challenging industry, in part due to its still evolving status. A significant challenge in bioinformatics remains incorporation of different sources into one viable platform for accessing complete data. Also a major concern for this industry is the sheer lack of competent and qualified workforce, particularly for documentation. New tools are not only pushing the development of drug discovery, but also fundamentally changing the nature of biological research. The success of HGP (Human Genome Project) and breakthrough technologies in drug discovery initiatives spells significant investment opportunities for the industry.
United States dominates the global bioinformatics market with an estimated share of 40% for 2007, as stated in a recent report published by Global Industry Analysts, Inc. Bioinformatics market in Europe is highly fragmented and competitive with a horde of local and global participants. The market is projected to reach US$742.6 million by 2010. Asia-Pacific represents the fastest growing market for Bioinformatics, registering a CAGR of 22.5% over the analysis period. World bioinformatics Software market comprising software for predictive modeling and expression analysis is estimated at US$684 million for 2007. Biocontent market in the United States is projected to reach US$592 million by 2010. In Europe, bioinformatics hardware market is projected to cross US$88 million in 2008.
The market is typically concentrated in United States and Europe with about 55% of the companies based in United States, while 30% based in Europe. Very few firms operate as specialized bioinformatics companies. Most of the companies are small and funded by venture capital companies. Major players profiled in the study include 3rd Millennium, Accelrys, Inc, Affymetrix, Agilent Technologies, Applied Biosystems, BioWisdom Ltd, Celera Genomics, CuraGen, Gene Logic, Geneva Bioinformatics S.A, InforSense Ltd, InPharmix Incorporated, Invitrogen, Nonlinear Dynamics Ltd and Rosetta Inpharmatics. As new players enter the market and existing companies grow in size and revenue, competition in the bioinformatics industry is likely to intensify significantly.
The report titled "Bioinformatics: A Global Strategic Business Report", published by Global Industry Analysts, Inc. explores the dynamics of the bioinformatics market analyzed by the following product segments -- Software, Biocontent and Hardware for the period 2000 through 2010. The report provides insight into industry structure, industry challenges, and major applications of bioinformatics as well as data and databases. The report enumerates recent developments, mergers, acquisitions and other strategic industry activities. Analysis is presented for established and emerging markets including United States, Japan, France, Germany, United Kingdom, Italy and Rest of World.
For more details of this research report please visit http://www.strategyr.com/MCP-1095.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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