Bioinformatics Market Is On Explosion

In the current scenario, bioinformatics market size stands at approximately $840 million. It’s poised for a rapid growth with increase of around $1.82 billion by 2007. The Compound Annual Growth Rate – CAGR of the Bioinformatics Market is likely to be around 15 % up till 2010.In the last few years, bioinformatics has achieved acceptance among other markets particularly biotechnology, pharmaceutical, agricultural biotechnology and industrial biotechnology.

The bioinformatics industry is among one of the largest sector within super-computing and stands to benefit appreciably from acceleration of FPGA-based applications. Bioinformatics involves annotation, recording, analysis, storage, and searching/extracting of molecular information such as protein sequences, gene sequences, cell activity and variation in genetic structures.

Bioinformatics is mainly used in area of life sciences like molecular medicine, drug discovery, microbial genome applications, comparative studies, agriculture and others. The contribution of Bioinformatics to these areas of life sciences is evident by its application in the research fields e.g. proteomics, genomics.

In the near future the contribution of genomics in the field of drug discovery and development is predicted to be one of the highest. Over the long haul, increasing number of new drugs designed would be genomic-related. However, after human genome mapping the use of proteomics is likely to rise at a higher rate than that of genomics, as it is proteins, not genes, which the researchers would use in the coming years for developing new drugs.

The growth of the Bioinformatics market is stable as 20% of the use is based upon proteomics and genomics. Many Research and development centers across the world are looking for a base to transfer the data, information and knowledge to facilitate an informatics-based decision support system.

However, biotechnology and pharmaceutical companies will continue to look at the tools for understanding the association between biological data types. As bioinformatics is broadly more useful to discovery and development, the end users will adopt solutions that streamline tracking, access, sharing of data and interpretation of different data types with least impact on resources. In consequence, hundreds of suppliers are embarking upon the bioinformatics bandwagon.

For further information about bioinformatics market please read the report “Bioinformatics Market Update (2006)” published by RNCOS at http://www.rncos.com/Report/COM31.htm