Global Next-Generation Sequencing Data Analysis Market (2021 to 2028) - Size, Share & Trends Analysis Report
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Global Next-Generation Sequencing Data Analysis Market (2021 to 2028) - Size, Share & Trends Analysis Report
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The global bioinformatics market generated $8,614.29 million in 2019, and is projected to reach $24,731.61 million by 2027, growing at a CAGR of 13.4% from 2020 to 2027.
Bioinformatics is the combination of information technology, statistics, molecular biology, and algorithms to analyze the data obtained from various experiments. It includes collecting biological data, preparation of a computational model, solving computational modeling problems, and evaluating of computational algorithm. Bioinformatics uses computation to extract knowledge from biological data, which can be used in drug discovery and developments.
The global bioinformatics market is expected to register substantial growth in the near future, owing to the rise in the need for integrated data and an increase in applications of proteomics & genomics. In addition, drug discovery & development is expected to boost market growth during the forec