The global bioinformatics market was valued at about $8 billion in 2018 and is estimated to reach around $14 billion at a growth rate of around 16% through 2022.

However, lack of interoperability among various available data formats is acting as a restraint on the bioinformatics market. Various data formats come with differences in structures of data. There are numerous protein databases available through various resources, and each database chooses to represent proteins in a different format.

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The bioinformatics market consists of sales of bioinformatics and related services. Bioinformatics combines computer programming, information engineering, mathematics, and statistics to analyze biological data for drug discovery and for preclinical studies.

Important players in the global bioinformatics market include Agilent Technologies, Illumina, QIAGEN, Affymetrix and Thermo Fisher Scientific.

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Companies in the bioinformatics market are increasingly investing in the research and development of nanopore sequencing technology. Nanopore sequencing is a single molecule DNA sequencing technology which eliminates the need for Polymerase Chain Reaction or chemical labelling of the sample. This technology passes ionic current through nanopores (a pore of nanometer size) and when the biological molecules pass through the nanopores or near to it then this technology measures the changes in current which can be used to identify the molecule. Nanopore sequencing technology offers high throughput, low cost, longer reads (Sequence of a section of a unique fragment) to the analyst and helps in the collection of data which is an essential part of bioinformatics.

The healthcare services market, of which the bioinformatics market is a segment, includes sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services. This industry includes establishments that provide services such as medical and diagnostic laboratory services, dental services, nursing care, residential substance abuse and mental health facilities and other healthcare services.

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The bioinformatics market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider healthcare services market and compares it with other markets.