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Bioinformatics Market by Product & Service, Applications, Sector and Region
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Global Bioinformatics Markets & Technologies Report 2021-2025: Antibody-Based Drug Discovery and Development, Development of Novel Bioinformatics and Drugs, New Antibody Technologies & Antibody Types
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Global Bioinformatics Markets & Technologies Report 2021-2025: Antibody-Based Drug Discovery and Development, Development of Novel Bioinformatics and Drugs, New Antibody Technologies & Antibody Types
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The global market for bioinformatics should grow from $16.1 billion in 2020 to $24.1 billion by 2025 with a compound annual growth rate (CAGR) of 8.4% for the period of 2020-2025.
The high growth rate of this segment is attributed to factors such as the demand for antibodies research, the expanding COVID-19 pandemic, epidemics of other infectious diseases, and an increase in R&D activities by key companies to develop new data regarding genetic consequences to counter the rise in different infectious diseases globally.
Moreover, the advancement of biological discoveries will result in the need for more molecular targets to be detected by their antibodies and the usage of different bioinformatic tools. For example, publicly available datasets of human BCR were selected to represent different sequencing platforms such as Illumina MiSeq, Roche 454, and Ion Torrent.
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The global metabolomics market size is projected to reach USD 4.1 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 13.4% during the forecast period.
The major factors driving the growth of this market are the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, growing demand for personalized medicine, and increasing use of metabolomics in toxicology testing are driving the growth of the global metabolomics industry. However, issues related to data examination & data processing in metabolomics and the high cost of tools and instruments are likely to restrain the market growth to a certain extent.