Bioinformatics: Global Market Analysis & Outlook Through 2018-2023 - Growth in Proteomics & Genomics is a Key Driver

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Dublin, Dec. 07, 2018 (GLOBE NEWSWIRE) -- The report has been added to offering. The global bioinformatics market is expected to register a CAGR of 19.8% during 2018-2023 (the forecast period).

With the completion of the Human Genome Project (in 2001) and the Human Proteome Project, a vast amount of data has generated, which has given a new dimension to the profiling of proteomic and genomic analyses. The data generated, out of these projects, has driven the growth of the global bioinformatics market, due to the growing demand for tools and platforms for data management, data retrieval, sequence alignment, structure prediction, and other bioinformatics applications.

Other factors driving the market include increasing government spending and rise in R&D initiatives.

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Globe Newswire: 12:35 GMT Friday 7th December 2018

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