The report "Bioinformatics Market by Product & Service (Knowledge Mangement Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2027", The global bioinformatics market is projected to reach USD 23.89 billion in 2027 from USD 8.09 billion in 2018, at CAGR of 14.5%. Growing demand for nucleic acid and protein sequencing, initiatives from government and private organizations, growing applications of bioinformatics, and the increasing number of collaborations between companies and research institutes are the major factors driving the growth of the market.

Browse 189 market data Tables and 27 Figures spread through 195 Pages and in-depth TOC on "Bioinformatics Market by Product & Service (Knowledge Mangement Tools, Data Analysis Platforms (Structural & Functional), Services), Applications (Genomics, Proteomics & Metabolomics), & Sectors (Medical, Academics, Agriculture) - Global Forecast to 2027"
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Based on product and service, the bioinformatics platforms segment is projected to grow at the highest CAGR in the market during the forecast period.

On the basis of product & service, the market is broadly segmented into knowledge management tools, bioinformatics platforms, and services. The bioinformatics platform segment is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the increasing usage of different bioinformatics platforms in various genomic and proteomics applications. Additionally, there is an increase in the use of bioinformatics platforms in drug discovery and development, which also contributes to the growth of the market.

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