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WELLESLEY, MA --(Marketwired - February 01, 2016) - Next-generation sequencing (NGS) technology has fueled the genomics revolution, making it possible to sequence an entire human genome within days for a few thousand dollars. BCC Research reveals in its new report that high-throughput processes like NGS have spurred users to adopt cloud-computing solutions to capture, store, analyze, and manage the big datasets generated by these technologies.
Bioinformatics is the application of computers and information technology (software and hardware), mathematics and engineering in the management and interpretation of biological information. The global market comprises three categories, or segments: bioinformatics tools and database services; data analysis software and analytical services; and IT infrastructure and services.
The global bioinformatics market, estimated to reach almost $4.1 billion in 2014, should total more than $8 billion by 2019, reflecting a five-year compound annual growth rate (CAGR) of 14.2%. In 2014, the U.S. region was the largest segment, accounting for 53.7% of global sales, followed by the Europe and Asia-Pacific regions. The North America segment should demonstrate a five-year CAGR of 15%, the highest rate among all regions.
Growth in developed markets, North America and Europe, will continue to be driven by private investment from the pharma, biotech, diagnostic, food and agrochemicals industries, as well as academic and governmental investment in leading institutes and organizations such as the NIH (U.S.), EMBL (Europe) and GBI (China). Meanwhile, the Asia-Pacific region should realize a five-year CAGR of 13.8% as the market expands to maximize opportunities in outsourcing of bioinformatics services and increased utilization of NGS technologies.
Data analysis software and analytical services, the second-largest and fastest-growing segment among the three categories, generated more than $1.5 billion in 2014 and should reach $3.1 billion by 2019, reflecting a five-year CAGR of 16%. This market will be driven by the development of cloud-based end-to-end solutions that can assist in the accurate and rapid analysis of sophisticated and comprehensive datasets to allow low-frequency genomic variants, protein interaction analysis and RNA sequencing to be assessed in isolation and in combination to more effectively diagnose and treat diseases using precision medicine.
"Growth in the global market has been driven by the uptake of NGS sequencing and cloud computing solutions," says BCC Research analyst Cheryl Lee Barton. "NGS software that previously only provided basic analytical tools (e.g., alignment, variant calling) now offer more integrated platforms, improving the functionality and reducing data analysis times. Meanwhile, the ability to generate big data has far exceeded the limits of the ability to store, process, analyze and disseminate it, causing stress on IT infrastructure and potentially limiting the ability to harness its power. The availability of computing on demand with cloud technologies, however, has enabled people to access computer power and information resources globally at relatively low cost and with limited IT support."
Bioinformatics: Technologies and Global Markets (BIO051C) examines the economic, technological and potential application of bioinformatics based on geography, category and application. Analyses of global market drivers, trends, and restraints with data from 2013, estimates for 2014, and projections of CAGRs through 2019 also are provided.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world's greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email email@example.com.
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