The bioinformatics industry in India is expected to grow in the future because of the increasing scope of the microarray market in the surging fields of genomics, proteomics and clinical research.
Online PR News – 23-August-2013 – New Delhi – Bioinformatics is the application of computer technology and information sciences to the management of biological information. It deals with the creation and maintenance of extensive electronic databases on various biological systems. The first generation bioinformatics did not grew in India because of ambiguity in the business model of companies. With the completion of the first draft of the human genome by the International Human Genome Project in 2001, individuals started entering in the bioinformatics arena. Currently, with the unification of information technology and biotechnology, bioinformatics sector in India has become a frontline discipline in science.
The bioinformatics sector in India has showcased a healthy growth at a CAGR of 12.3% over the period FY’2007-FY’2013. Bioinformatics has emerged as a budding sector in India with the advancement in high throughput full genome sequencing projects such as human genome sequencing. At present, the strong base in pharmaceutical research and information technology as well as well-educated low-cost and fluent in English human capital is driving the off-shoring of bioinformatics services to India. The key revenue growth drivers for the Indian bioinformatics vendors lies in outsourcing to countries such as the US, Japan and Europe. In the recent years, it has also been observed that the demand for biotechnology products and need for better utilization of resources have opened up huge opportunities for the Indian vendors such HCL Technologies, TCS, Cognizant and Infosys, that have started offering integrated biotechnology solutions.
The bioinformatics industry in India has major application in the field of agriculture and medical biotechnology. The agriculture biotechnology sector in India has grown substantially in the past six years starting from FY’2007. Currently, there are an increasing number of projects coming up in this field both in the private as well as the public sector mainly because of the funds coming from the Government of India and the World Bank. In the medical biotechnology segment, bioinformatics is primarily being used in the field of drug development, clinical diagnostics, molecular medicine, gene therapy and reproductive biotechnology.
Bioinformatics services are driving the revenue growth of the bioinformatics sector in India. Over the years FY’2007-FY’2013, bioinformatics services market in the country has grown at a CAGR of 14.2%. Also, the application of bioinformatics is majorly in the area of genomics and transcriptomics. In India, bioinformatics has a fundamental role in the genome sequencing era as millions of DNA are being sequenced by the new generation sequencers. The field of pharmacogenomics is also evolving at a rapid pace in India because of advances in genomics which is enabling researchers to provide treatment that is tailored according to the patients need.
According to the research report “India Bioinformatics Industry Outlook to 2018- Surging Government Initiatives to Foster Future Prospects” by Ken Research, the future of the bioinformatics industry in the country seems to be promising in the coming few years. This will be on account of genomics, translational bioinformatics and personalized medicine, which will be the major driving segments of the industry.
“Several factors, including increase in government funding, opening up of several bioinformatics institutions, increase in educated manpower, cloud computing and genome analytics will lead the future growth of the bioinformatics industry in India. The industry, however, is expected to face major challenges in terms of intelligent and efficient storage of huge amount of data generated by the various biotechnology sectors and applications.” according to the Research Analyst, Ken Research.
The report provides detailed overview on the bioinformatics market in India and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, pharmaceutical companies, biotechnology companies, bioinformatics research institutions and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
For more information on the industry research report please refer to the below mentioned link: