Bioinformatics Market - Forecast(2020 - 2025)
According to the Personalized Medicine Coalition (PMC), antidepressants are ineffective for 38% of the patients and same is the case with asthma drugs for 40%, diabetes drugs for 43%, and cancer drugs for 75%. This has been a major loophole in the medication procedure, and it significantly increments the treatment time. So, the field of medicine is moving towards providing personalized medicines for patients that warrants detailed disease assessment and management integrated with data analytics which is leading to prospects in the bioinformatics market that was valued between $9.2 billion and $9.6 billion. Furthermore, the global demand for bioinformatics will further grow with a remarkable CAGR of 12% to 14% during the forecast period of 2019 to 2025. The countries in the Americas region boast of best-in-class medical facilities with new medicines and clinical diagnostics, which is coupled with the technological advancements in data science and analytics. These developments ar