(MoneyNewsWire.Net, January 05, 2018 ) The Asia Pacific Bioinformatics Market was worth USD 1.4 billion in 2016 and estimated to be growing at a CAGR of 21.4%, to reach USD 3.7 billion by 2021. In the field of Bioinformatics, biological data is interpreted through use and development of new software methods and tools. It is an interdisciplinary field comprising of subjects like computer science, mathematics, engineering and statistics so as to analyse the biological information acquired. Bioinformatics comprises of all the biological studies which are done by using computer programming as the tool. Bioinformatics is primarily used for knowing candidate genes and single nucleotide polymorphisms.
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Bioinformatics finds its application in many areas of biology. It assists in obtaining useful information from text and in gene ontology to name and organise data. In the field of genomics and genetics, it helps in sequencing genomes and noting their mutations. In the field of experimental molecular biology it finds its applications in the forms of techniques such as image and signal processing. It is helpful in interpreting evolutionary aspects of molecular biology by comparing the obtained genetic and genomic data. It also helps in analysing gene and protein expression and regulation.
The driving factors of Asia-Pacific Bioinformatics market are 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 need for integrated bioinformatics systems in proteomics and genomics, increasing number of partnerships between research organisations 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.
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The Asia-Pacific Bioinformatics market is segmented on the basis of sector into animal biotechnology, environmental biotechnology, agricultural biotechnology, forensic biotechnology, medical biotechnology, academics and others. Medical biotechnology accounted for the largest share in this segment owing to the growing need for developing new drugs at cheap prices. Based on products & services, the market is segmented into bioinformatics platforms, knowledge management tools and bioinformatics services. Knowledge management tools has the largest share in this segment and bioinformatics platforms is the fastest growing sub-segment. In the applications segment, the market is further divided into proteomics, transcriptomics, molecular phylogenetics, chemoinformatics and drug design and genomics. Genomics accounts for the largest market share in the applications segment.
The Asia-Pacific Bioinformatics market is divided based on geography into India, China, Australia, South Korea and other parts of Asia-Pacific. Asia-Pacific is the fastest growing region globally. Factors such as rising demand for protein and nucleic acid sequencing, increased funding for research and increasing demand for research in proteomics and genomics are expected to drive the growth of this market.
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Some of the major players in the market include 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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