Bioinformatics has become an essential part of life science and biomedical science. In 2017, the bioinformatics market was $9.49 billion and is expected to grow at a CAGR of 20.83%. Also, the global bioinformatics market by services is estimated to be $2.74 billion in the same year. Bioinformatics is expected to grow at a rapid rate over the years in all the fields such as medicine, agriculture, microbiology, genomics, proteomics and many others. It is playing an important role in transforming a lab-based science into an information science yielding the discovery of novel drugs.
What is Bioinformatics?
Bioinformatics is a branch of biotechnology which involves the use of IT for storing, retrieval, analyzing and curate the biological data. Bioinformatics is the combination of knowledge from various fields such as biology, mathematics, computer science as well as basics of physics and chemistry.
Application of machine learning in bioinformatics has helped in the prediction of diseases, diagnosis and survival analysis. Bioinformatics involves the use of various databases and tools for sequencing and analysis such as BLAST, FASTA, HMMER, Clustal Omega and many others. Bioinformatics tool plays a major role in comparing genetic information and understanding the evolutionary aspects. It also helps in analyzing the biological pathways and different molecular attractions. It also plays a role in text mining of biological data and development of gene ontologies and query biological data.
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What are the major applications of Bioinformatics?
Bioinformatics is widely used in genomics, proteomics, molecular medicine, personalized medicine, Preventative medicine, Gene therapy, Drug development, Microbial genome applications, Waste cleanup, Climate change Studies, Alternative energy sources, Biotechnology, Antibiotic resistance, Forensic analysis of microbes, Bio-weapon creation, Evolutionary studies, Crop improvement, Insect resistance, Improve nutritional quality, Development of Drought resistance varieties, and Veterinary Science. For instance, in drug discovery, bioinformatics is playing a vital role in advancing the process of drug discovery as it involves faster analysis of molecules through computation tools when compared to experimental approaches.
Market Research and Market Trends of Bioinformatics Market
- In 2018, Diversigen, Inc., has been selected by the Crohn's & Colitis Foundation as a preferred provider for metagenomics and microbiome analysis services. It would serve as a central lab for the generation of high quality microbiome data to be incorporated into the ‘IBD Plexus’ platform. IBD Plexus is a research information exchange platform built to centralize data and bio samples from diverse research initiatives to advance science, precision medicine and transform the care of IBD patients.
- The World Health Organization (WHO), the foundation for Innovative New Diagnostics (FIND) and the Critical Path Institute (C-Path) announced the Relational Sequencing for Tuberculosis (ReSeqTB). ReSeqTB is designed to evaluate phenotypic antimicrobial resistance from raw sequence data from Mycobacterium tuberculosis in clinical samples. This would enable large-scale, culture-free surveillance of TB drug resistance and informing development of new diagnostics and treatment regimens.
- EpigenCare Inc., announced to bring epigenetics into consumer adoption through big data accumulation, bioinformatics, and machine learning. The company has developed the skin care test which involves the use of methylation specific next generation sequencing technique. This scans for the epigenetics marker correlated with skin quality and indicates aging, firmness, elasticity. The captured skin profile can be used for choosing the best skin care products.
- Human gut on chip technology is being used to understand how radiation is affecting the cells and to test protective treatment to prevent damage caused by the exposure. This technology can be used to discover effective new drugs in future to save the lives of cancer patients, astronauts and civilians who are exposed to radiation.
- Genome British Columbia, Genome Canada, and Genome Prairie have partnered to help build an online bioinformatics resource for the DivSeek (Diversity Seek) using approximately $644,000 in funding through Genome Canada's Emerging Issues program. DivSeek was established to characterize 7 million crop accessions which are stored at gene banks around the world. DivSeek Canada will make sure that this information can be accessed by people all around the world to develop better resilient crops.
Who are the Major Players in Bioinformatics market?
The companies referred in the market research report includes Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., QIAGEN, Bruker Corporation, Biomax Informatics Ag, Waters Corporation, PerkinElmer Inc., ID Business Solutions Ltd., Dassault Systems, Biovia Corp, Applied Biological Materials (ABM),DNAnexus, Inc.
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