Bioinformatics is the application of computer technology to manage biological information. Computers are used to gather genetic information, store them, analyze them, and integrate them so as to make the information useful for gene-based drug development. Bioinformatics is used by biopharmaceutical, biotechnology, and life science players to manage the information obtained from research and development activities. Bioinformatics enables automation of the entire process of data processing. They help in enhancing the accuracy of the results. Bioinformatics gives much quicker results and also enables paper-free storage of data, which can be accessed from anywhere in the globe.

Information technology eases the processes of data access, data storage, data processing, and data retrieval. Thus, information technology (IT) is rapidly being adopted in the healthcare industry. The global bioinformatics market, in turn, is driven by the rising application of information technology in the healthcare industry, since establishment of basic IT protocols and platforms enables easier incorporation of bioinformatics tools.

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Growing activities in the field of genetics are expected to bring about an exponential increase in the amount of biological information, thus propelling the bioinformatics market. The demand for improved preventive solutions and treatment of diseases is on a rise and therefore there is an increased focus on research and development in the healthcare industry. R&D by healthcare players generates huge amounts of data which needs to analyzed, stored, and managed efficiently. This need is expected to fuel the demand for bioinformatics, boosting the global market.

Currently, there is a rising demand for clinical trials and multicenter trials across the globe. Uniformity of data format becomes a major issue faced by the research centers, as they collate data from multiple centers. Manually sorting the data, after integrating data sets of varied formats leads to a rise in the number of errors, thus acting as a challenge for the bioinformatics market. Furthermore, the lack of skilled personnel to operate bioinformatics platforms and tools will restrain the market.

The global bioinformatics market is segmented on the basis of geography into Asia Pacific, North America, Europe, and Rest of the World. Out of these regions, North America and Europe are expected to lead the bioinformatics market owing to the presence of major players in these regions. The increasing awareness and interest among consumers in these regions regarding the applicability of bioinformatics in the discovery of new drug is leading to growth of the market.

Availability of advanced technology and heavy investments on R&D by companies in North America, especially the U.S., are boosting the market for bioinformatics. Asia Pacific is also expected to emerge as a lucrative market for bioinformatics owing to the efforts taken by several governments to drive bioinformatics-based research.

Key market players in the global bioinformatics market include: Affymetrix, Inc., ID Business Solutions Ltd., Illumina, Inc., GenoLogics Life Sciences Software, Inc., Agilent Technologies Inc., and CLC bio A/S.

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