Press Release Summary = Pharmaceutical and biotechnology companies are actively seeking alternative yet effective approaches to discover and develop new therapeutics that involve less costs. The Bioinformatics market for DNA sequencing and proteomics applications is anticipated to reach $18Bn by 2009.
Press Release Body = Many of the existing as well as start up pharmaceutical and biotechnology companies are under pressure to find and evolve new therapeutics at a minimum cost and within shorter time periods. At the same time they must make alternative and effective breakthroughs in introducing a new drug onto the market that would make a fair utility of the enormous costs involved.
The DNA micro array market making a comprehensive research of the products based on its strong infrastructure continues to yield sturdy growth all over the world. The largest two sectors of the proteomics market are drug discovery and health care respectively contributing 47 percent and 21 percent of revenues in 2004. It is believed that an urgent need to reduce overall cost of healthcare through early detection of diseases would give rise to growth in the healthcare sector.
It is viewed that different approaches will be made to find solutions to problems in micro arrays and bead platforms. Thus some of these technologies will be forced to withdraw and be replaced by others in niche application areas.
Proteomics is an area more recent than DNA sequencing. While it has limited applications, the impact of this technology is believed to prove enormously in the future. The growth of the industry will occur by using the technology to gradually take place of traditional laboratory methods.
RNCOS in its market research report namely “Bioinformatics Market Update (2006)” predicts that the revenues from the global market of DNA sequencing and proteomics would increase from $8 billion in 2004 to $17.5 billion in 2009 at an average annual growth rate of 18%.
The report provides answers for some critical questions relating to – · The current global outlook of Bioinformatics market; · The recent developments in the Bioinformatics industry; · The worldwide growth of the Genomics market; · The driving forces of the Bioinformatics market; · The opportunities for growth and impending threats for the industry; and · Comparison between different companies in the Bioinformatics market.
The report is a useful guide for the pharmaceutical companies, IT firms, biotechnology firms, prospective investors, students and academicians in the field of bioinformatics.
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