Bioinformatics is the use of information technology in biotechnology for data storage, data warehousing and DNA sequence analysis. Bioinformatics is an interdisciplinary field that develops and enhances methods for storing, retrieving, organizing, and analyzing biological data.
Growth in bioinformatics applications such as drug development and analysis, forensic analysis, and resistance to antibiotics is the main driver behind the growth of the global bioinformatics market. In addition, the development of new customized pharmaceuticals and clinical diagnostics and integrated proteomics and genomics research systems are other elements expected to drive growth in the global bioinformatics market.
However, the shortage of experts in bioinformatics is a major factor impeding the growth of the global bioinformatics market. In addition, lack of adequate infrastructure and high costs in developing countries is another challenge that hampers the growth of the global bioinformatics market.
The North American market dominates the global bioinformatics market and has the largest market share in terms of sales compared to other markets. This is due to well-developed applications such as microbial genomics, gene therapy, waste disposal and climate change research. The European market is the second largest contributor to the global bioinformatics market, with Asia Pacific markets, Latin America and the Middle East and Africa respectively.
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