Factors attributing to the growth of the bioinformatics market include rising investment and funding for the R&D activities associated with genomics and proteomics; increasing demand for nucleic acid and protein sequencing; and increasing application in blockchain technology and cloud computing. However, factors such as lack of well-defined standards and challenges in managing & handling large volumes of data, and the dearth of skilled professionals are likely to restrain the market growth to a certain extent.

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As the speed of data generation is increasing, the management of large volumes of data is becoming a challenge. Moreover, the shortage of skilled bioinformatics professionals, different formats for data storage, and the lack of user-friendly tools at lower prices are some of the challenges faced by the bioinformatics market.

Some of the prominent players operating in the Bioinformatics market includes: -

• Thermo Fisher Scientific
• Illumina
• QIAGEN, PerkinElmer
• Agilent Technologies
• Eurofins Genomics LLC
• DNASTAR
• Biomax Informatics AG
• Partek
• Incorporated
• Psomagen
• among others.

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