The bioinformatics market is estimated to reach USD 19.79 billion by 2026, according to the latest study by Aftrex Market Research. Large investments from key players towards the development of bioinformatics solutions is expected to propel the market growth.
Drug Discovery & Chemoinformaticsapplication segment to register highestCAGR
The use of machine learning in drug design is expected to drive the market growth over the forecast period. Machine learning enables drug designers to easily procure chemical information from large compound database and perform various analysis required for drug manufacturing process. Moreover, it also helps researchers to understand correlation between chemical composition and their biological activities.
Asia Pacific region is expected to witness highest growth over the forecast period
A large number of healthcare investments in the Asia Pacific region is expected to drive the bioinformatics market. Furthermore, the high adoption of IoT technologies in this sector is also expected to positively impact market growth in the region. Key countries including China and India are expected to largely propel the bioinformatics market in this region.
Key players operating in the market comprise Thermo Fisher Scientific, Eurofins Scientific, Illumina, Perkinelmer, Inc., Qiagen Bioinformatics, Agilent Technologies, Dnastar, Waters Corporation, Sophia Genetics, Partek, Biomax Informatics AG, Wuxi Nextcode, and Beijing Genomics Institute (BGI) among others.
For the purpose of this study, Aftrex Market Research has segmented the bioinformatics market based on products/tools & services, application, end-use, and region:
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