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Global Bioinformatics Market Possesses “Star Attraction”
Jul 13, 2006
Bioinformatics, is one of the largest segments within supercomputing and has a wide range of applications. Though Bioinformatics is a relatively new field, it has been the center of widespread interest since its inception. It has given a new direction to various processes involved in molecular information like recording, annotation, storage, analysis, and search & retrieval. Molecular information comprises of gene sequences, protein sequences and structures, genetic variations and cell activity.
Bioinformatics is crucial for breakthrough in several areas of life sciences, such as drug discovery, molecular medicine and agriculture. The application of Bioinformatics to research fields such as genomics and proteomics is resulting in microbial genome applications in the form of new drug designs and development process. Such path breaking research will reduce the annual cost of discovering and developing a new drug by 35 percent and the time consumption by 33 per cent.
The market research report on Bioinformatics Industry, “Bioinformatics Market Update (2006)” by RNCOS finds that in 2005 the Bioinformatics industry worldwide reached $1,435 Mn with a growth of 17% from $1,235 Mn.
RNCOS’ analysts predict that the Bioinformatics market size is expected to grow at an average annual growth rate of 16 percent to hit $3 Bn by 2010 with phenomenal growth in its offshoots like Cheminformatics and Pharmacogenomics.
This Bioinformatics Market Research report helps in finding out answers for some critical questions like:
- What is the current global outlook of Bioinformatics market?
- What are the recent developments in the global Bioinformatics industry?
- What are the Driving Forces of Bioinformatics Market?
- What are the Opportunities for growth, and Threats for the Bioinformatics industry?
- How do different companies compare their position in Bioinformatics Market?
This report will prove to be of help for Pharmaceutical companies, IT firms, Biotechnology Firms, prospective Investors and academics who want to explore and understand the trends and developments of the field.
For more information visit: http://www.rncos.com/Report/IM045.htm
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