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Bioinformatics refers to combined use of biotechnology and information technology. Bioinformatics supports the biotechnology and pharmaceutical industry both with software and hardware. These components help to calculate, analyze and store the biological and genetic information that can be used in drug development based on genetic issues. Global healthcare IT market is expected to reach $53.8 billion by 2014. Use of bioinformatics in biomarkers development and drug discovery is driving the market growth. On the other hand, increasing government support and funding are other factors assisting the growth. Global diagnostic biomarker market is expected to reach $30.6 billion by 2020.
However, authenticity of the data generated electronically is one of the major concerns for the regulatory bodies. The service providers need to assure the clients that the data provided is within the standard provided by the government. Complexity of the product is another factor decreasing its adoption among end users. Further, there is a lack of standard in the data format and this leads to manual intervention by researchers. However, continuous research assures rectification of all these issues in the near future.
Key companies profiled in this report include Accelrys, Inc., Active Motif, Inc., Affymetrix, Inc., Agilent Technologies, Inc., Biomatters, Ltd., Biomax Informatics Ag, CLC Bio, Ocimum Biosolutions, Ltd., Geneva Bioinfromatics (Genebio) Sa and Id Business Solutions Ltd.
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