NEW YORK, June 25, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Bioinformatics Market By Sector (Molecular Medicine, Agriculture, Research & Forensic), Segment (Sequencing Platforms, Knowledge Management Tools & Data Analysis Services) & Application (Genomics, Proteomics & Drug Design) Global Forecasts to 2017

http://www.reportlinker.com/p01497411/Bioinformatics-Market-By-Sector-Molecular-Medicine-Agriculture-Research--Forensic-Segment-Sequencing-Platforms-Knowledge-Management-Tools--Data-Analysis-Services--Application-Genomics-Proteomics--Drug-Design--Global-Forecasts-to-2017.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Genomics

Bioinformatics Market By Sector (Molecular Medicine, Agriculture, Research & Forensic), Segment (Sequencing Platforms, Knowledge Management Tools & Data Analysis Services) & Application (Genomics, Proteomics & Drug Design) Global Forecasts to 2017

Bioinformatics is a scientific discipline that deals with the retrieval, storage, processing, analysis, and management of biological information through computational techniques. It uses mathematics, biology, and information technology to understand the biological importance of an extensive variety of data. Bioinformatics technologies are used in various pharmaceutical and biotechnology sectors. It is majorly used in the medical sector, driven by the increasing use of bioinformatics for the drug discovery and development process.

The global bioinformatics market was valued at $2.9 billion in 2012 and is poised to reach $7.5 billion by 2017 at a CAGR of 20.9%. The growth of the bioinformatics market is driven by decrease in cost of DNA sequencing, increasing government initiatives and funding, and growing use of bioinformatics in drug discovery and biomarkers development processes. It is expected that the market will offer opportunities for bioinformatics solutions manufacturers with the introduction and adoption of upcoming technologies such as nanopore sequencing and cloud computing. However, factors such as dearth of skilled personnel to ensure proper use of bioinformatics tools and lack of integration of a wide variety of data generated through various bioinformatics platforms are hindering the growth of the market. Manufacturers of bioinformatics solutions will face further challenges with regard to industry consolidation and management of high volume data.

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Bioinformatics Market By Sector (Molecular Medicine, Agriculture, Research & Forensic), Segment (Sequencing Platforms ...