Bioinformatics is the combination of information technology, statistics, molecular biology, and algorithms to analyze the data obtained from various experiments. It includes collecting biological data, preparation of a computational model, solving computational modeling problems, and evaluation of computational algorithm. Bioinformatics uses computation to extract knowledge from biological data, which can be used in drug discovery and developments.
The global bioinformatics market is expected to register substantial growth in the near future, owing to rise in need for integrated data and increase in applications of proteomics & genomics. In addition, drug discovery & development is expected to boost the market growth during the forecast period. However, lack of skilled personnel and common data formats is projected to hamper the market growth during the forecast period. Conversely, increase in need for integrated solutions & systems is expected to offer lucrative opportunities for market players.
The global bioinformatics market generated $6,389.00 million in