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Bioinformatics Market Companies Summary

The bioinformatics market has seen significant growth due to the COVID-19 pandemic, with increased usage of computational technology across multiple research platforms. Information related to transmission chains has been crucial for public health control and containment measures, while knowledge of virus variability has guided the development of vaccines and cheaper diagnostic methods. The market is expected to continue this trend in the post-pandemic phase due to emerging strains of the SARS-CoV-2 virus and an increase in research and development activities. Various initiatives by market players are anticipated to support the market's growth during the forecast period. The growth factors for the bioinformatics market include the rising demand for nucleic acid and protein sequencing, rising initiatives from private and government organizations, the accelerating growth of proteomics and genomics, and rising research on molecular biology and drug discovery. The launch of new centers using computational biology in developing countries is boosting the market growth. Furthermore, the introduction of technologically advanced bioinformatics software for effective and accurate analysis of biomarker discovery programs is expected to boost the industry's growth over the upcoming years. However, the lack of well-defined standards and common data formats for the integration of data and concerns about data complexity, as well as the shortage of user-friendly tools, are likely to hamper market growth over the forecast period.