The Europe Bioinformatics Market was worth USD 1.8 billion in 2016 and estimated to be growing at a CAGR of 14.3%, to reach USD 3.5 billion by 2021. Bioinformatics is a field of study in which biological data is interpreted through development and use of new software tools and methods. It is an interdisciplinary field comprising of engineering, mathematics, statistics and computer science in order to analyse the biological information acquired. Bioinformatics envelopes all the biological studies which are done by using computer programming as the tool. Bioinformatics is most often used for knowing candidate genes and single nucleotide polymorphisms.
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Bioinformatics is used in quite a few areas of biology. It helps in obtaining useful information from text and in gene ontology to organise and name data. In the field of genomics and genetics, it assists in sequencing genomes and noting their mutations. It is useful in understanding evolutionary aspects of molecular biology by comparing genetic and genomic data. In the field of experimental molecular biology, it proves very useful because of techniques such as image and signal processing. It also helps in analysing gene and protein expression and regulation.
The driving factors of Europe 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 Europe 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 Europe Bioinformatics market is divided based on geography into United Kingdom, Spain, France, Italy, Germany and other parts of Europe. Globally, Europe is the second largest market in the world. Factors such as increased need for protein and nucleic acid sequencing, increasing funding for research and technological advancements is expected to propel the growth of this market in the region.
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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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