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Boston, MA -- (ReleaseWire) -- 03/18/2014 --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

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.

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