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| bioinformatics platforms market |
The global bioinformatics platforms market is estimated to be valued at US$10.1 billion in 2023 and is expected
to exhibit a CAGR of 13.0% over the
forecast period 2023-2027, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
Bioinformatics platforms are computer-based tools that enable scientists and
researchers to analyze and interpret complex biological data. These platforms
offer various advantages, such as efficient data storage, integration,
analysis, and visualization, thereby facilitating efficient drug discovery,
personalized medicine, and agricultural research. The need for bioinformatics
platforms has increased in recent years due to the exponential growth of
genomic data and the need for efficient analysis and interpretation.
Market Key Trends:
One of the key trends in the Bioinformatics
Platforms Market Size is the increasing adoption of cloud-based
platforms. Cloud-based bioinformatics platforms offer several advantages, such
as scalability, accessibility, cost-effectiveness, and collaboration
capabilities. These platforms allow researchers and scientists to store and
analyze large volumes of genomic data without the need for expensive
infrastructure. Moreover, cloud-based platforms enable seamless data sharing
and collaboration among different research teams and institutions. With the
increasing demand for efficient and cost-effective bioinformatics solutions,
the adoption of cloud-based platforms is expected to witness significant growth
over the forecast period.
Segment Analysis:
The bioinformatics platforms market can be segmented based on the type of
platform, application, and end-user.
Among the various types of platforms available, the dominating segment is the
sequence alignment platforms. This segment is expected to witness high growth
and dominate the market due to its crucial role in analyzing DNA or RNA
sequences and identifying patterns or similarities. Sequence alignment
platforms are widely used in genomics research, drug discovery, and
personalized medicine, leading to their higher demand in the market.
Additionally, advancements in algorithms and software tools for sequence
alignment have improved the accuracy and speed of analysis, making it a
preferred choice for researchers and scientists.
Key Takeaways:
The global bioinformatics platforms market is expected to witness high growth,
exhibiting a CAGR of 13.0% over the
forecast period (2023-2027). This growth can be attributed to increasing
research activities in genomics, proteomics, and drug discovery, along with the
rising adoption of precision medicine and personalized healthcare. The
advancements in technology, such as the integration of artificial intelligence
and machine learning in bioinformatics platforms, further drive market growth.
In terms of regional analysis, North America is expected to be the
fastest-growing and dominating region in the bioinformatics platforms market.
This can be attributed to the presence of a well-established healthcare
infrastructure, a large number of research institutions, and significant
investments in genomics research and drug discovery. The region also has a high
adoption rate of advanced healthcare technologies, which contributes to the
growth of the bioinformatics platforms market.
Key players operating in the bioinformatics platforms market include
Affymetrix, Inc., Dassault Systemes, Agilent Technologies, QIAGEN, ID Business
Solutions, Ltd., Agilent Technologies Inc., GenoLogics Life Sciences Software,
Inc., and Illumina, Inc. These key players have a strong market presence and
offer a wide range of bioinformatics platforms and solutions. They focus on
product development, strategic collaborations, and partnerships to maintain
their competitive edge in the market. Furthermore, technological advancements
and continuous innovation in software tools and algorithms by these key players
contribute to the overall growth of the bioinformatics platforms market.
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More: https://www.dailyprbulletin.com/bioinformatics-platforms-market-overview-and-share/