Dallas, TX -- (ReleaseWire) -- 03/11/2014 -- RnRMarketResearch.com adds “Latin American Bioinformatics Market by Sector (Agriculture, Molecular Medicine, Research & Animal), Segment (Sequencing Platforms, Knowledge Management Tools & Data Analysis Services) & Application (Genomics, Proteomics & Drug Design) – Forecasts to 2017" report to its research database.
Bioinformatics is an integration of informatics and life sciences. It uses information technology, statistics, and algorithms for storing, retrieving, and analyzing biological data that is generated during life sciences research.
In Latin America, bioinformatics is now widely recognized as a crucial field for research and development in agricultural, veterinary, and human health sciences. Latin America comprises Brazil, Peru, Mexico, Chile, and the rest of the Latin American countries, and forms a significant portion of the Rest of World bioinformatics market. Brazil and Mexico command the largest share of the bioinformatics market in Latin America. This large share can be attributed to a high concentration of bioinformatics research institutes, ongoing conferences and seminars, and growing multidisciplinary approaches towards skills development and training in bioinformatics. On the other hand, Chile and Peru are the fastest-growing markets for bioinformatics in Latin America. This is primarily attributed to the initiatives taken by these nations with regards to skills development of researchers as well as the ongoing academic collaborations to facilitate the adoption of bioinformatics in life sciences research.
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Bioinformatics allows the understanding of biological phenomena through the applications of statistics and computer science. Today, bioinformatics has become an integral part of life science applications. Use of various bioinformatics tools in biological research allows storage, retrieval, analysis, annotation, and visualization of results. The major sectors that use bioinformatics technologies include medicine, agriculture, environment, animal forensic biotechnology, academics, and others (includes homeland security and defense, law-enforcement groups, bioweapon creation, and evolutionary biotechnology).The agriculture sector commanded a major share owing to the increasing use of bioinformatics in the study of crops (mainly sugarcane and oranges) sequences to improve their yield and quality. However, the medical segment is the fastest-growing sector owing to the increasing R&D spending by pharmaceutical companies towards the development of new drugs.
In 2012, Brazil commanded the largest share—~40%—of the Latin American bioinformatics market. This is majorly attributed to the high concentration of bioinformatics research institutes, growing focus of indigenous and global bioinformatics players, and increasing multidisciplinary approaches towards bioinformatics-related skills development. However, the Brazilian tax system is complicated and time-consuming. For instance, as per World Bank’s Doing Business Index, Brazil ranks 127th among 183 countries in the ease of doing business due heavy tax burdens and stringent regulations. In addition, government policies are less decisive, exclusively in terms of supporting innovation and in changing the currently inefficient patent system related to biotechnology, pharmaceutical, and software development areas. These are the key restraining factors for the entry of new companies into the Latin American bioinformatics market, thereby curbing the growth of the market in Brazil.
As of 2012, the Latin American bioinformatics market was dominated by CLC Bio (Denmark), Affymetrix, Inc. (U.S.), Agilent technologies, Inc. (U.S.), Life Technologies Corporation (U.S.), and Illumina Inc. (U.S.).
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Reasons To Buy The Report
The above mentioned market research data, current market size, and forecast of future trends will help existing players and new entrants to make the necessary decisions regarding product offerings, geographic focus, emerging and high-growth segments of the Latin American bioinformatics market, high-growth countries, drivers, and restraints in order to remain successful.
Firms purchasing the report could use any one or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios and services offered by the top players in the Latin American Bioinformatics Market. The report analyzes the product and services as well as application markets across countries
- Product Development/Innovation: Detailed insights on the upcoming technologies and research and development activities and new product launches in the Latin American Bioinformatics Market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various bioinformatics products and services as well as applications across geographies
- Market Diversification: Exhaustive information about the emerging market sectors and applications as well as the untapped geographies in the Latin American Bioinformatics Market
- Competitive Assessment: In-depth assessment of strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the Latin American Bioinformatics Market
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