The size of the Bioinformatics Market in the Asia Pacific was worth USD 2.42 billion in 2022 and estimated to be growing at a CAGR of 21.4%, to reach USD 6.37 billion by 2027.
In Bioinformatics, biological data is interpreted through the use and development of new software methods and tools. It is an interdisciplinary field comprising computer science, mathematics, engineering, and statistics to analyze the biological information acquired. Bioinformatics involves all the biological studies which are done by using computer programming as the tool. Bioinformatics is used mainly for knowing candidate genes and single nucleotide polymorphisms.
Bioinformatics finds its application in many areas of biology. It assists in obtaining useful information from the text and in gene ontology to name and organize data. The field of genomics and genetics helps in sequencing genomes and noting their mutations. In experimental molecular biology, it finds its applications in the forms of techniques such as image and signal processing. It helps interpret evolutionary aspects of molecular biology by comparing the obtained genetic and genomic data. It also helps in analyzing gene and protein expression and regulation.
The driving factors of the Asia-Pacific Bioinformatics market are the growing need for sequencing protein and nucleic acids, rising assistance of this field in manufacturing new medicines and clinical diagnostics, increasing initiatives from the government, rising demand for integrated bioinformatics systems in proteomics and genomics, an increasing number of partnerships between research organizations and companies among others.
The constraints of this market are high costs, lack of skilled workers, lack of user-friendly tools, and lack of interoperability among various data formats.
This research report on the APAC Bioinformatics Market has been segmented & sub-segmented into the following categories:
By-Products and Services:
Regionally, Asia-Pacific is the fastest-growing region globally. Factors such as rising demand for protein and nucleic acid sequencing increased funding for research, and growing demand for research in proteomics and genomics are expected to drive the growth of this market.
The Chinese bioinformatics market is expected to account for the largest share in this region during the forecast period. Factors such as modern healthcare infrastructure, growing perforation of cutting-edge research, and clinical laboratory techniques are driving the bioinformatics market of this APAC region.
Bioinformatics market in Japan and India countries are projected to grow healthy CAGR over the analysis period. Factors responsible for the growth are advanced technologies, increasing the speed of decoding genetic sequences are accelerating the market growth. However, the shortage of skilled bioinformatics professionals, high cost, and lack of interaction hamper the growth.
KEY MARKET PLAYERS:
A few of the notable companies operating in the APAC bioinformatics market profiled in this report are Agilent Technologies, Affymetrix Inc., Applied Biological Materials (ABM), 3rd Millenium Inc., Illumina Inc., Thermo Fisher Scientific Inc., Qiagen N.V., Biomax Informatics Ag, DNAnexus, Inc., and Waters Corporation among others.
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