Bioinformatics Market is the use of information technology in the field of biotechnology for the purpose of data storage, data warehousing, and analysing the DNA sequences. The market is going to grow at a sound pace during the forecast period. The major drivers will be the growing biotechnology sector, increasing global burden of the diseases, and increasing research and development expenses. According to the International Trade Administration, the total turnover for the biotechnology sector in the Germany reached from USD 3,280 million in 2015 to USD 3,410 million in 202 Moreover, it was estimated that in 2016, the RD expenditure for biotech sector was about USD 1,040 million. Moreover, increasing initiatives from government and private organizations followed by improved collaborative ties between companies and research institutes fuels the market growth. However, lack of well-defined standards and common data formats for integration of data, shortage of skilled bioinformatics professionals along with the lack of adequate user-friendly tools may restrain the market growth during the forecast period.
