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Bioinformatics
Market 2007 |
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Report Predicts Growth
of Bioinformatics Market
Other Topics: Telemedicine
Terminals, Pharmacogenomics -
Genetic Drug Response
HPCwire
July 13, 2006
The global bioinformatics industry is powering up technological
advancements in the areas of life sciences like drug discovery
and development, which in turn will have spiraling impact on the
multi-billion pharmaceutical industry. |
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Bioinformatics,
is one of the largest segments within supercomputing and has a
wide range of applications. Though bioinformatics is a
relatively new field, it has been the center of widespread
interest since its inception. It has given a new direction to
various processes involved in molecular information like
recording, annotation, storage, analysis, and search &
retrieval. Molecular information comprises of gene sequences,
protein sequences and structures, genetic variations and cell
activity.
Bioinformatics is crucial for breakthrough in several areas of
life sciences, such as drug discovery, molecular medicine and
agriculture. The application of bioinformatics to research
fields such as genomics and proteomics is resulting in microbial
genome applications in the form of new drug designs and
development process. Such pathbreaking research will reduce the
annual cost of discovering and developing a new drug by 35
percent and the time consumption by 33 per cent.
The market research report on bioinformatics industry,
"Bioinformatics Market Update (2006)" by RNCOS finds that in
2005 the bioinformatics industry worldwide reached $1,435
million with a growth of 17 percent from $1,235 million.
RNCOS' analysts predict that the bioinformatics market size is
expected to grow at an average annual growth rate of 16 percent
to hit $3 billion by 2010 with phenomenal growth in its
offshoots like cheminformatics and pharmacogenomics.
This Bioinformatics Market Research report helps in finding out
answers for questions such as:
- What is the current global
outlook of bioinformatics market?
- What are the recent
developments in the global bioinformatics industry?
- What are the driving forces
of bioinformatics market?
- What are the opportunities
for growth, and threats for the bioinformatics industry?
- How do different companies
compare their position in bioinformatics market?
This report is targeted for
pharmaceutical companies, IT firms, biotechnology firms,
prospective investors and academics who want to explore and
understand the trends and developments of the field. |
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